220 EXAM – FLORIDA STATUTES | COMPREHENSIVE
EXAM PREP, PRACTICE QUESTIONS, CORRECT
ANSWERS AND STUDY GUIDE 2026/2027
1. The Florida Real Estate Commission (FREC) consists of how many members
appointed by the Governor?
A) Five
B) Seven
C) Nine
D) Eleven
Answer B: Seven
Rationale: FREC has seven members: four licensed real estate brokers and three
consumer members.
2. A real estate license in Florida must be renewed every:
A) 1 year
B) 2 years
C) 3 years
D) 4 years
Answer B: 2 years
Rationale: Florida real estate licenses are renewed biennially (every 2 years) by
March 31 of odd-numbered years.
,3. Which of the following is NOT an exemption from Florida real estate
licensing requirements?
A) An attorney in the performance of legal duties
B) A property manager handling rentals for a single owner
C) A person who lists and sells one property for a neighbor for a fee
D) A resident manager of an apartment complex
Answer C: A person who lists and sells one property for a neighbor for a fee
Rationale: Any person who receives compensation for selling real estate must be
licensed, except for specific exemptions.
4. Under Florida law, a real estate broker must maintain a written escrow
account reconciliation at least:
A) Weekly
B) Monthly
C) Quarterly
D) Annually
Answer B: Monthly
Rationale: FREC requires monthly reconciliation of trust accounts to ensure client
funds are properly accounted for.
5. The Florida Department of Business and Professional Regulation (DBPR) is
headed by:
,A) The Governor
B) The Secretary of DBPR
C) The Chief Financial Officer
D) The Attorney General
Answer B: The Secretary of DBPR
Rationale: The DBPR is led by a Secretary appointed by the Governor, with
oversight of professional licensing boards.
6. Which Florida statute governs real estate brokerage and licensing?
A) Chapter 120
B) Chapter 475
C) Chapter 455
D) Chapter 626
Answer B: Chapter 475
Rationale: Chapter 475, F.S., is the Real Estate License Law.
7. A real estate sales associate must be licensed to work under the
supervision of a:
A) Sales associate
B) Broker
C) Attorney
D) Property manager
Answer B: Broker
, Rationale: Sales associates must be affiliated with and supervised by a licensed
real estate broker.
8. The Florida Real Estate Commission (FREC) has the authority to:
A) Issue licenses
B) Impose fines and suspend or revoke licenses
C) Enact new real estate laws
D) All of the above
Answer B: Impose fines and suspend or revoke licenses
Rationale: FREC has disciplinary authority, but laws are enacted by the legislature;
the DBPR issues licenses.
9. Under the Florida Insurance Code, the Office of Insurance Regulation is
part of:
A) DBPR
B) DFS (Department of Financial Services)
C) FREC
D) The Governor’s office
Answer B: DFS (Department of Financial Services)
Rationale: The Office of Insurance Regulation is under the Department of
Financial Services.
EXAM PREP, PRACTICE QUESTIONS, CORRECT
ANSWERS AND STUDY GUIDE 2026/2027
1. The Florida Real Estate Commission (FREC) consists of how many members
appointed by the Governor?
A) Five
B) Seven
C) Nine
D) Eleven
Answer B: Seven
Rationale: FREC has seven members: four licensed real estate brokers and three
consumer members.
2. A real estate license in Florida must be renewed every:
A) 1 year
B) 2 years
C) 3 years
D) 4 years
Answer B: 2 years
Rationale: Florida real estate licenses are renewed biennially (every 2 years) by
March 31 of odd-numbered years.
,3. Which of the following is NOT an exemption from Florida real estate
licensing requirements?
A) An attorney in the performance of legal duties
B) A property manager handling rentals for a single owner
C) A person who lists and sells one property for a neighbor for a fee
D) A resident manager of an apartment complex
Answer C: A person who lists and sells one property for a neighbor for a fee
Rationale: Any person who receives compensation for selling real estate must be
licensed, except for specific exemptions.
4. Under Florida law, a real estate broker must maintain a written escrow
account reconciliation at least:
A) Weekly
B) Monthly
C) Quarterly
D) Annually
Answer B: Monthly
Rationale: FREC requires monthly reconciliation of trust accounts to ensure client
funds are properly accounted for.
5. The Florida Department of Business and Professional Regulation (DBPR) is
headed by:
,A) The Governor
B) The Secretary of DBPR
C) The Chief Financial Officer
D) The Attorney General
Answer B: The Secretary of DBPR
Rationale: The DBPR is led by a Secretary appointed by the Governor, with
oversight of professional licensing boards.
6. Which Florida statute governs real estate brokerage and licensing?
A) Chapter 120
B) Chapter 475
C) Chapter 455
D) Chapter 626
Answer B: Chapter 475
Rationale: Chapter 475, F.S., is the Real Estate License Law.
7. A real estate sales associate must be licensed to work under the
supervision of a:
A) Sales associate
B) Broker
C) Attorney
D) Property manager
Answer B: Broker
, Rationale: Sales associates must be affiliated with and supervised by a licensed
real estate broker.
8. The Florida Real Estate Commission (FREC) has the authority to:
A) Issue licenses
B) Impose fines and suspend or revoke licenses
C) Enact new real estate laws
D) All of the above
Answer B: Impose fines and suspend or revoke licenses
Rationale: FREC has disciplinary authority, but laws are enacted by the legislature;
the DBPR issues licenses.
9. Under the Florida Insurance Code, the Office of Insurance Regulation is
part of:
A) DBPR
B) DFS (Department of Financial Services)
C) FREC
D) The Governor’s office
Answer B: DFS (Department of Financial Services)
Rationale: The Office of Insurance Regulation is under the Department of
Financial Services.
