Florida Real Estate Exam Questions with 100% Correct Answers

Owners that buy income properties as investments and depend on professionals to manage them Correct Answer Absentee Owners a Value estimated based on resent sales of similar properties in the same neighborhood, not an appraisal Correct Answer CMA -Comparative Market Analysis... A contractor is employed by an owner of land to build on that land to the owner's specifications Correct Answer Custom Building When a contractor builds on his own land with the hope of locating a purchaser after construction has been completed Correct Answer Speculative building A developer that acquires a large that aquires a large tract of land and builds a model center from which sales may be made Correct Answer tract building Property management has grown as a service of real estate primarily bc of an increase of _______ _________ Correct Answer Absentee Ownership The category of construction that applies when a property owner employs a contractor to build on his or her lot is called________ ___________ Correct Answer Custom Building A Real Estate appraiser's fee for professional service is based on: a. a percentage of the property's gross income b. a percentage of the fair market value c. the time and difficulty of the appraisal d. a percentage of property's sales Correct Answer C. the time and difficulty of the appraisal A developer contracts to build a home on a buyer's lot to the buyer's specifications. This is an example of which type of building: a. tract b. custom c. speculative d. subdivision Correct Answer b. custom A Florida Real Estate lisence is required when anyone performs a service is specified under F.S. 475 when all the following conditions are simultaneously present, unless that individual is otherwise exempt under the law: Correct Answer 1. Preforming a service of real estate