FL Real Estate Exam Practice Questions and Answers (Graded A)

FL Real Estate Exam Practice Questions and Answers (Graded A) FL Real Estate Exam Practice Questions and Answers (Graded A) FL Real Estate Exam Practice Questions and Answers (Graded A) Which statement is true regarding the use of the term REALTOR? All real estate licensees are REALTORS All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REALTOR - ANSWER-All REALTORS are members of the National Association of REALTORS (NAR) The term follow up refers to...? - ANSWER-what a sales associate does for buyers and sellers after the sale Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real property for compensation concerning a nonfederally related transaction - ANSWER-As long as she does not represent herself as a state-certified or licensed appraiser and complies with USPAP The field of property management has experienced growth and specialization primarily because of...? - ANSWER-the increase in the number of absentee owners Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice (USPAP) when conducting which value estimates? - ANSWER-Appraisals Appraisers are paid a fee because - ANSWER-to accept compensation based on the appraised value is a conflict of interest The five major sales specialties do NOT include agricultural special use commercial businesses - ANSWER-Special use The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of property for others is called - ANSWER-Property management Which kind of construction involves building to buyer's specifications? - ANSWER-Custom homes