Gold Coast Real Estate Associate Pre-License Class Final Exam
Accurate Questions with Correct
Detailed Solutions | Latest Updated
Version | High Pass Success
Prepare effectively and boost your confidence with this Premium Final Exam Study Guide,
designed to help students review important concepts, strengthen understanding, and improve
overall exam performance.
This comprehensive resource contains accurate exam-style questions with correct detailed
solutions, carefully organized to reflect commonly tested topics and real exam standards. Each
solution includes clear explanations to help simplify difficult concepts, reinforce learning, and
improve problem-solving skills.
The guide is structured in an easy-to-follow format that supports both early preparation and last-
minute revision, making studying more efficient and less stressful.
🔥 Key Highlights
✔ Accurate exam questions covering essential topics
✔ Correct detailed solutions with clear explanations
✔ Focused review of frequently tested concepts
✔ Simple and organized structure for fast revision
✔ Latest updated version for reliable exam preparation
🚀 Why Students Prefer This Guide
• Helps improve understanding of key concepts
• Supports efficient and effective revision
• Strengthens confidence before exams
• Provides realistic exam-style practice
• Helps identify and improve weak areas
,🎯 Perfect For
• Final exam preparation
• Midterm and course revision
• Last-minute study sessions
• Practicing exam-style questions
• Improving overall academic performance
📚 A trusted and practical study resource designed to help students prepare smarter, stay
confident, and achieve exam success.
Joint Venture - ANSWER ✅✅✅✅two or more parties combine to join efforts
the right of government to take private property for public use - ANSWER
✅✅✅✅eminent domain
quitclaim deed is best for - ANSWER ✅✅✅✅grantor
A Claim from Real Estate recovery fund - ANSWER ✅✅✅✅Is not an option as a
remedy in a breach of Contract
If Applicant has license denied - ANSWER ✅✅✅✅Must be notified in writing of reason
and advised of their rights
Going Concern - ANSWER ✅✅✅✅Appraising Profitable Business
Exclusive right of sale listing - ANSWER ✅✅✅✅Best for broker, they get paid
regardless of who sells the property
eminent domain - ANSWER ✅✅✅✅Is not for large shopping centers or movie theaters
Sales Associates can only bring legal action for unpaid commission against - ANSWER
✅✅✅✅Broker that employed them when they earned it
What are the FHA qualifying Ratios? - ANSWER ✅✅✅✅Expense 31%, total obligation
43%
,State documentary stamp tax on deed, (outside of Dade County) is 70 cents per $100 of
the sale price, plus 70 cents for any factional part of $100 of sales price. - ANSWER
✅✅✅✅Formula:
purchase price/100= tax units (round up)
tax units x .70 = state doc tax on deed
$ Debit to seller (left side on statement)
Joint Tenancy includes - ANSWER ✅✅✅✅Possession, Interest, Time, Title and right
of survivorship
Intangible tax - ANSWER ✅✅✅✅new mortgage only, not assumable mortgage
.002 X new loan
buyer pays (debit right side)
Cost-depreciation approach - ANSWER ✅✅✅✅Best used on estimating the current
cost of reproducing or replacing a Government buildings like a Court House.
Government National Mortgage Association (GNMA) - ANSWER ✅✅✅✅Commonly
known as "Ginnie Mae," is not a primary leader
promissory note - ANSWER ✅✅✅✅a written promise to pay a specified loan amount,
interest rate, loan terms and repayment schedule.
Tenancy in Common - ANSWER ✅✅✅✅have equal or unequal shares of ownership
and acquired them by same or different deed
Functional Obsolescence - ANSWER ✅✅✅✅can be an over-improvement
Illiquidity - ANSWER ✅✅✅✅an inability to convert assets into cash quickly, is a real
estate disadvantage
Broker Associate is employed by - ANSWER ✅✅✅✅An active licensed Broker
Contractual rights from one person to another - ANSWER ✅✅✅✅Assignment
transferred
When a Broker has listed a property and finds out the title is not merchantable -
ANSWER ✅✅✅✅they must immediately notify the owner
A Letter of Satisfaction is issued - ANSWER ✅✅✅✅when a loan has been fully repaid
A ____________ can not be used as a broker's office. - ANSWER ✅✅✅✅motorhome
Liquidation Value - ANSWER ✅✅✅✅are used on a failing business.
, Blockbusting is - ANSWER ✅✅✅✅telling homeowners that minorities are moving into
their neighborhood and enticing them to list their properties
accretion - ANSWER ✅✅✅✅opposite of erosion
Special Assessments - ANSWER ✅✅✅✅are public improvements that add value to
the property
A broker is entitled to compensation if - ANSWER ✅✅✅✅they bring a buyer who
meets the seller's terms for a sale
An enforcement of a contract - ANSWER ✅✅✅✅has a Statue of Limitation
RESPA (Real Estate Settlement Procedures Act) requires - ANSWER ✅✅✅✅lenders
to inform borrowers of all settlement costs in purchasing a home
In a Lien Theory State - ANSWER ✅✅✅✅the mortgagor holds title.
A Principal of Substitution buyer - ANSWER ✅✅✅✅will not pay more for a property
when they can acquire another equally desirable property
A business known as XYZ Company is legally formed as a - ANSWER
✅✅✅✅corporation for profit
In a township, Section 8 is 2 Sections West of - ANSWER ✅✅✅✅Section 10
exculpatory clause - ANSWER ✅✅✅✅prohibits lenders from seeking a deficiency
judgement
When using "As-Is Contract" - ANSWER ✅✅✅✅the seller has a duty to disclose
material judgement defects.
A Sales Associate who receives a postdated check must - ANSWER
✅✅✅✅immediately give the check to the employing broker
In Tenancy by the Entireties if divorce happens - ANSWER ✅✅✅✅it converts to a
Tenancy in Common
When forming a brokerage partnership and the partners want to provide real estate
services - ANSWER ✅✅✅✅the partners must be registered and at least one partner
must be an active broker
Accurate Questions with Correct
Detailed Solutions | Latest Updated
Version | High Pass Success
Prepare effectively and boost your confidence with this Premium Final Exam Study Guide,
designed to help students review important concepts, strengthen understanding, and improve
overall exam performance.
This comprehensive resource contains accurate exam-style questions with correct detailed
solutions, carefully organized to reflect commonly tested topics and real exam standards. Each
solution includes clear explanations to help simplify difficult concepts, reinforce learning, and
improve problem-solving skills.
The guide is structured in an easy-to-follow format that supports both early preparation and last-
minute revision, making studying more efficient and less stressful.
🔥 Key Highlights
✔ Accurate exam questions covering essential topics
✔ Correct detailed solutions with clear explanations
✔ Focused review of frequently tested concepts
✔ Simple and organized structure for fast revision
✔ Latest updated version for reliable exam preparation
🚀 Why Students Prefer This Guide
• Helps improve understanding of key concepts
• Supports efficient and effective revision
• Strengthens confidence before exams
• Provides realistic exam-style practice
• Helps identify and improve weak areas
,🎯 Perfect For
• Final exam preparation
• Midterm and course revision
• Last-minute study sessions
• Practicing exam-style questions
• Improving overall academic performance
📚 A trusted and practical study resource designed to help students prepare smarter, stay
confident, and achieve exam success.
Joint Venture - ANSWER ✅✅✅✅two or more parties combine to join efforts
the right of government to take private property for public use - ANSWER
✅✅✅✅eminent domain
quitclaim deed is best for - ANSWER ✅✅✅✅grantor
A Claim from Real Estate recovery fund - ANSWER ✅✅✅✅Is not an option as a
remedy in a breach of Contract
If Applicant has license denied - ANSWER ✅✅✅✅Must be notified in writing of reason
and advised of their rights
Going Concern - ANSWER ✅✅✅✅Appraising Profitable Business
Exclusive right of sale listing - ANSWER ✅✅✅✅Best for broker, they get paid
regardless of who sells the property
eminent domain - ANSWER ✅✅✅✅Is not for large shopping centers or movie theaters
Sales Associates can only bring legal action for unpaid commission against - ANSWER
✅✅✅✅Broker that employed them when they earned it
What are the FHA qualifying Ratios? - ANSWER ✅✅✅✅Expense 31%, total obligation
43%
,State documentary stamp tax on deed, (outside of Dade County) is 70 cents per $100 of
the sale price, plus 70 cents for any factional part of $100 of sales price. - ANSWER
✅✅✅✅Formula:
purchase price/100= tax units (round up)
tax units x .70 = state doc tax on deed
$ Debit to seller (left side on statement)
Joint Tenancy includes - ANSWER ✅✅✅✅Possession, Interest, Time, Title and right
of survivorship
Intangible tax - ANSWER ✅✅✅✅new mortgage only, not assumable mortgage
.002 X new loan
buyer pays (debit right side)
Cost-depreciation approach - ANSWER ✅✅✅✅Best used on estimating the current
cost of reproducing or replacing a Government buildings like a Court House.
Government National Mortgage Association (GNMA) - ANSWER ✅✅✅✅Commonly
known as "Ginnie Mae," is not a primary leader
promissory note - ANSWER ✅✅✅✅a written promise to pay a specified loan amount,
interest rate, loan terms and repayment schedule.
Tenancy in Common - ANSWER ✅✅✅✅have equal or unequal shares of ownership
and acquired them by same or different deed
Functional Obsolescence - ANSWER ✅✅✅✅can be an over-improvement
Illiquidity - ANSWER ✅✅✅✅an inability to convert assets into cash quickly, is a real
estate disadvantage
Broker Associate is employed by - ANSWER ✅✅✅✅An active licensed Broker
Contractual rights from one person to another - ANSWER ✅✅✅✅Assignment
transferred
When a Broker has listed a property and finds out the title is not merchantable -
ANSWER ✅✅✅✅they must immediately notify the owner
A Letter of Satisfaction is issued - ANSWER ✅✅✅✅when a loan has been fully repaid
A ____________ can not be used as a broker's office. - ANSWER ✅✅✅✅motorhome
Liquidation Value - ANSWER ✅✅✅✅are used on a failing business.
, Blockbusting is - ANSWER ✅✅✅✅telling homeowners that minorities are moving into
their neighborhood and enticing them to list their properties
accretion - ANSWER ✅✅✅✅opposite of erosion
Special Assessments - ANSWER ✅✅✅✅are public improvements that add value to
the property
A broker is entitled to compensation if - ANSWER ✅✅✅✅they bring a buyer who
meets the seller's terms for a sale
An enforcement of a contract - ANSWER ✅✅✅✅has a Statue of Limitation
RESPA (Real Estate Settlement Procedures Act) requires - ANSWER ✅✅✅✅lenders
to inform borrowers of all settlement costs in purchasing a home
In a Lien Theory State - ANSWER ✅✅✅✅the mortgagor holds title.
A Principal of Substitution buyer - ANSWER ✅✅✅✅will not pay more for a property
when they can acquire another equally desirable property
A business known as XYZ Company is legally formed as a - ANSWER
✅✅✅✅corporation for profit
In a township, Section 8 is 2 Sections West of - ANSWER ✅✅✅✅Section 10
exculpatory clause - ANSWER ✅✅✅✅prohibits lenders from seeking a deficiency
judgement
When using "As-Is Contract" - ANSWER ✅✅✅✅the seller has a duty to disclose
material judgement defects.
A Sales Associate who receives a postdated check must - ANSWER
✅✅✅✅immediately give the check to the employing broker
In Tenancy by the Entireties if divorce happens - ANSWER ✅✅✅✅it converts to a
Tenancy in Common
When forming a brokerage partnership and the partners want to provide real estate
services - ANSWER ✅✅✅✅the partners must be registered and at least one partner
must be an active broker
