COMPREHENSIVE EXAM PREP, CORRECT
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,Heather has been using a roadway at the back of the 22 acres 2) easement by prescription
Pam owns. She has been driving down the roadway almost
every day without permission for over 20 years. This is called
what?
1) easement appurtenant.
2) easement by prescription.
3) easement in gross.
4) easement by necessity.
When purchasing an existing condominium, the buyer must 4) Articles of incorporation of the association
receive which of the following?
1) Annual operating budget
2) A prospectus
3) Rules and Regulations
4) Articles of incorporation of the association
Todd is an 89-year-old veteran that is legally blind and 2) $95,000
partially disabled due to injuries he sustained in the military.
His home has an assessed value of $150,500. How much will
his taxable value be for county taxes?
1) $55,500
2) $95,000
3) $100,500
4) $110,000
A contract for deed is also called what? 2) Land Contract
1) Deed in lieu of foreclosure
2) Land Contract
3) Novation
4) Sales Contract
The cost of borrowing money is called what? 1) Interest
1) Interest
2) Leverage
3) Capitol
4) Credit
,Sally is buying a home and the closing date is set for April $368.51
20th. The annual property taxes are $1234.00 and have not
been paid yet. How much will the buyer be credited and the Step 1: Find the daily rate; property taxes for the year ($1234.00) / 365 days = $3.38; Step
seller be debited? 2: Seller will credit buyer from January through midnight the day before closing. Calculate
the exact number of days; January 31 + February 28 + March 31 + April 19 = 109 days; Step
1) $371.80 3: Multiply the daily rate ($3.3808219178) x Number of days (109) = $368.51
2) $368.51
3) $375.18
4) $370.36
A Landlord has how many days to return a tenants security 15
deposit if not making a claim on the deposit?
1) 10
2) 15
3) 30
4) 45
A buyer's loan payment will change if which of the following All of the above
occur?
1) They have an ARM loan
2) The property taxes increase or decrease
3) Their homeowner's insurance increases
4) All of the above
Which statute covers the procedural process? Chapter 120
1) Chapter 455
2) Chapter 120
3) Chapter 475
4) Chapter 20
Which brokerage relationship duty applies to all three types of Accounting for all funds
brokerage relationships?
1) Accounting for all funds
2) Loyalty
3) Using skill, care, and diligence
4) Confidentiality
, You sell Jessica a current up-to-date rental list and provide all 75%
the proper disclosures and paperwork. Jessica contacts you 15
days later and asks for a refund of the amount she paid for the
list because she could not find a rental on the list. She is
entitled to how much of a refund?
1) 100%
2) 75%
3) 25%
4) 0%
A deal failed to close because the buyer was unable to secure 15 days
financing. The broker received conflicting demands regarding
the earnest money. How long does the broker have to notify
FREC?
1) 10 days
2) 15 days
3) 20 days
4) 30 days
The Florida Real Estate Commission has seven members. How 2
many must be consumer members who have never held a real
estate license?
1) 1
2) 2
3) 3
4) 4
Bruce has a survey that is a commercially-zoned parcel. It is metes and bounds
101 feet on the front, 219 feet on the north side, 130 feet on the
back and 180 feet on the south side. It is not in a recorded
subdivision. Which survey method would be likely used for the
parcel?
1) lot and block
2) rectangular
3) government survey
4) metes and bounds