FL Real Estate Practice Quizzes 1-
10 with -ANS- 2025/2026
A beneficial interest in real estate which implies that at a future date an individual will receive
legal title is known as
-abstract of title.
-color of title.
-constructive notice.
-equitable title. - -ANS-equitable title - An equitable title is held by a person who has agreed to
purchase property, but the details of the transfer have not yet occurred.
A broker finds a buyer for a house she has listed. The offer includes an earnest money deposit
and states that the offer is valid for three days. The owner does not immediately respond to the
offer, and after 24 hours the buyer decides to cancel the offer and asks for his deposit to be
returned. The broker should
-place the funds in the hands of the Florida Real Estate Commission.
-keep ½ and give the remaining ½ to the owner.
-keep ¼ and give the remaining ¾ to the owner.
-return all the funds to the buyer. - -ANS-return all the funds to the buyer - An offer may be
withdrawn any time prior to acceptance, even if the time-of-acceptance period hasn't expired.
The withdrawal may be done by verbal or written communication; however, a written
withdrawal is recommended.
A broker has not had much luck selling a particular property, so he decides to change his
advertising in such a way that is misleading in form and content. The broker
-would have his license revoked.
,-could have his application denied, with prejudice.
-could receive an administrative fine.
-would face suspension of his license for a minimum of three years. - -ANS-could receive an
administrative fine - Penalties for the first misleading advertising offense is a $250 to $1,000 fine
and a 30 to 90-day license suspension. For the second offense, they are a $1,000 to $5,000 fine
and a 90-day license suspension.
A broker listed a house and is the single agent of the seller. A prospective buyer wants to view
the home and wants the broker to represent him too. The broker must
-disclose in writing to a buyer that the licensee is an agent of seller.
-have the seller sign a Transition to Transaction Broker form before showing the house to the
buyer.
-deliver a copy of the Agency Disclosure Form to the seller.
-get the informed, written consent of all parties prior to becoming a dual agent. - -ANS-have the
seller sign a Transition to Transaction Broker form before showing the house to the buyer - A
single-agent relationship can be changed to a transaction broker relationship if the agent
provides their principal a transition disclosure and the principal consents to the transition.
A broker listed a land for $90,000. Jim verbally offered $88,000. Another buyer who knew about
Jim's offer made an offer of $93,000. The broker drew up a written contract for $93,000 but did
not inform the owner about the offer for $88,000. Which is correct?
-The broker properly submitted only the higher offer.
-The broker should have presented both offers to owner.
-The owner must accept any offer that meets or exceeds the listing price.
-The broker has the right to decide which offer to pres - -ANS-The broker should have presented
both offers to owner - The broker must present all offers and counteroffers to their clients.
A broker lists a property that she knows would be perfect for cousin. The property is being sold
due to the death of the owner. The succession is willing to accept a much lower offer than the
property's listed price. About making an offer, the broker should tell her cousin
,-that the succession will consider a much lower offer than the listed price.
-that the succession is very motivated to sell quickly.
-to make an offer equal to the listed price.
-nothing, and present to the succession any of - -ANS-nothing, and present to the succession
any offer that her cousin wishes to make - The broker's fiduciary responsibility is to his client,
which includes confidentiality.
A broker or sales associate would be committing fraud if he or she knowingly sold a property
-that is subject to a blanket encumbrance, even if the encumbrance has a legal partial release
clause.
-with a guaranteed repurchase agreement, even if the agreement is approved by other Florida
state-regulatory agencies.
-by using a lottery, even if the property is actually conveyed in accordance with the lottery rules.
-with a marketable title. - -ANS-by using a lottery, even if the property is actually conveyed in
accordance with the lottery rules - A lottery would arbitrarily favor one party over another in
the transaction, which is illegal for licensees to do in a transaction they negotiate.
A broker receives an earnest money deposit on a home sale. The broker must deposit the funds
within how many days of receiving them?
-immediately, within three business days
-5 business days
-10 business days
-15 business days - -ANS-immediately, within three business days - Earnest money received by a
broker must be deposited immediately, which means within three business days.
A landlord inspects his rental property after the tenant moves out. He finds damage that is
beyond normal wear and tear and decides to deduct some money from the security deposit to
cover the damage. The tenant has _______ days to object in writing to the deduction.
-7
, -15
-30
-60 - -ANS-15 - The tenant must object in writing within 15 days of receipt of the notice that a
deposit will not be returned.
A licensed appraiser is compensated for an appraisal
-with a percentage of the property's appraised value
-with a flat fee
-with a percentage of an income-producing property's profit
-With a percentage of the property's selling price - -ANS-with a flat fee - A licensed appraiser
must follow the USPAP standards, which include in its Code of Ethics that compensation may
only be by a flat fee to avoid false inflation of property values.
A licensed broker was found guilty of culpable negligence in a real estate sale. The broker made
full restitution to the affected party. The Florida Real Estate Commission may
-require the return of any paid commission.
-impose a fine not to exceed $10,000.
-suspend the individual's license.
-take no disciplinary action against the licensee. - -ANS-suspend the individual's license - The
FREC may suspend a license up to 10 years.
A Notice of Non-compliance
-involves a fine of up to $10,000 per offense.
-involves a fine of up to $5,000 per offense.
-shall only be issued for an initial offense of a minor violation.
-must be followed by a thorough investigation by the FREC. - -ANS-shall only be issued for an
initial offense of a minor violation -
The FREC issues notices of noncompliance to licensees who commit initial or minor violations.
10 with -ANS- 2025/2026
A beneficial interest in real estate which implies that at a future date an individual will receive
legal title is known as
-abstract of title.
-color of title.
-constructive notice.
-equitable title. - -ANS-equitable title - An equitable title is held by a person who has agreed to
purchase property, but the details of the transfer have not yet occurred.
A broker finds a buyer for a house she has listed. The offer includes an earnest money deposit
and states that the offer is valid for three days. The owner does not immediately respond to the
offer, and after 24 hours the buyer decides to cancel the offer and asks for his deposit to be
returned. The broker should
-place the funds in the hands of the Florida Real Estate Commission.
-keep ½ and give the remaining ½ to the owner.
-keep ¼ and give the remaining ¾ to the owner.
-return all the funds to the buyer. - -ANS-return all the funds to the buyer - An offer may be
withdrawn any time prior to acceptance, even if the time-of-acceptance period hasn't expired.
The withdrawal may be done by verbal or written communication; however, a written
withdrawal is recommended.
A broker has not had much luck selling a particular property, so he decides to change his
advertising in such a way that is misleading in form and content. The broker
-would have his license revoked.
,-could have his application denied, with prejudice.
-could receive an administrative fine.
-would face suspension of his license for a minimum of three years. - -ANS-could receive an
administrative fine - Penalties for the first misleading advertising offense is a $250 to $1,000 fine
and a 30 to 90-day license suspension. For the second offense, they are a $1,000 to $5,000 fine
and a 90-day license suspension.
A broker listed a house and is the single agent of the seller. A prospective buyer wants to view
the home and wants the broker to represent him too. The broker must
-disclose in writing to a buyer that the licensee is an agent of seller.
-have the seller sign a Transition to Transaction Broker form before showing the house to the
buyer.
-deliver a copy of the Agency Disclosure Form to the seller.
-get the informed, written consent of all parties prior to becoming a dual agent. - -ANS-have the
seller sign a Transition to Transaction Broker form before showing the house to the buyer - A
single-agent relationship can be changed to a transaction broker relationship if the agent
provides their principal a transition disclosure and the principal consents to the transition.
A broker listed a land for $90,000. Jim verbally offered $88,000. Another buyer who knew about
Jim's offer made an offer of $93,000. The broker drew up a written contract for $93,000 but did
not inform the owner about the offer for $88,000. Which is correct?
-The broker properly submitted only the higher offer.
-The broker should have presented both offers to owner.
-The owner must accept any offer that meets or exceeds the listing price.
-The broker has the right to decide which offer to pres - -ANS-The broker should have presented
both offers to owner - The broker must present all offers and counteroffers to their clients.
A broker lists a property that she knows would be perfect for cousin. The property is being sold
due to the death of the owner. The succession is willing to accept a much lower offer than the
property's listed price. About making an offer, the broker should tell her cousin
,-that the succession will consider a much lower offer than the listed price.
-that the succession is very motivated to sell quickly.
-to make an offer equal to the listed price.
-nothing, and present to the succession any of - -ANS-nothing, and present to the succession
any offer that her cousin wishes to make - The broker's fiduciary responsibility is to his client,
which includes confidentiality.
A broker or sales associate would be committing fraud if he or she knowingly sold a property
-that is subject to a blanket encumbrance, even if the encumbrance has a legal partial release
clause.
-with a guaranteed repurchase agreement, even if the agreement is approved by other Florida
state-regulatory agencies.
-by using a lottery, even if the property is actually conveyed in accordance with the lottery rules.
-with a marketable title. - -ANS-by using a lottery, even if the property is actually conveyed in
accordance with the lottery rules - A lottery would arbitrarily favor one party over another in
the transaction, which is illegal for licensees to do in a transaction they negotiate.
A broker receives an earnest money deposit on a home sale. The broker must deposit the funds
within how many days of receiving them?
-immediately, within three business days
-5 business days
-10 business days
-15 business days - -ANS-immediately, within three business days - Earnest money received by a
broker must be deposited immediately, which means within three business days.
A landlord inspects his rental property after the tenant moves out. He finds damage that is
beyond normal wear and tear and decides to deduct some money from the security deposit to
cover the damage. The tenant has _______ days to object in writing to the deduction.
-7
, -15
-30
-60 - -ANS-15 - The tenant must object in writing within 15 days of receipt of the notice that a
deposit will not be returned.
A licensed appraiser is compensated for an appraisal
-with a percentage of the property's appraised value
-with a flat fee
-with a percentage of an income-producing property's profit
-With a percentage of the property's selling price - -ANS-with a flat fee - A licensed appraiser
must follow the USPAP standards, which include in its Code of Ethics that compensation may
only be by a flat fee to avoid false inflation of property values.
A licensed broker was found guilty of culpable negligence in a real estate sale. The broker made
full restitution to the affected party. The Florida Real Estate Commission may
-require the return of any paid commission.
-impose a fine not to exceed $10,000.
-suspend the individual's license.
-take no disciplinary action against the licensee. - -ANS-suspend the individual's license - The
FREC may suspend a license up to 10 years.
A Notice of Non-compliance
-involves a fine of up to $10,000 per offense.
-involves a fine of up to $5,000 per offense.
-shall only be issued for an initial offense of a minor violation.
-must be followed by a thorough investigation by the FREC. - -ANS-shall only be issued for an
initial offense of a minor violation -
The FREC issues notices of noncompliance to licensees who commit initial or minor violations.
