FLORIDA REAL ESTATE EXAM 2024, 140 QUESTIONS WITH CORRECT ANSWERS

FLORIDA REAL ESTATE EXAM 2024, 140 QUESTIONS WITH CORRECT ANSWERS 1. Owners that buy income properties as investments and depend on professionals to manage them 2. a Value estimated based on resent sales of similar properties in the same neighborhood, not an ap- praisal Absentee Owners CMA -Comparative Market Analysis... 3. A contractor is employed by an owner of land to build Custom Building on that land to the owner's specifications 4. When a contractor builds on his own land with the hope of locating a purchaser after construction has been completed 5. A developer that acquires a large that aquires a large tract of land and builds a model center from which sales may be made 6. Property management has grown as a service of real estate primarily bc of an increase of Speculative build- ing tract building Absentee Owner- ship 7. The category of construction that applies when a property owner employs a contractor to build on his or her lot is called Custom Building 8. A Real Estate appraiser's fee for professional service C. the time and dif- 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 9. 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 ficulty of the ap- praisal b. custom 10. A Florida Real Estate lisence is required when any- one performs a service is specified under F.S. 475 when all the following conditions are simul- taneously present, unless that individual is other- wise exempt under the law: 11. has been defined to include anything or any service of Value paid, recieved or expected to be paid or recieved. 12. The postlicense educational course for sales associ- ate consists of hours 13. The continuing education requirement consists of hours 14. Florida Real estate sales associates that desire to become brokers must wait before taking the state exam. 15. A tenant in an apartment complex may recieve up to for refferal of a new tenant for the same complex. 16. education must be completed during the initial sales associates's license period. 17. Owner-employers of licensed real estate sales asso- ciates are allowed to pay them: a. on a salary basis only b. on a commision basis only c. a commission , but not a bonus d. a commission or salary 18. To qualify for a real estate broker's license, an appli- cant must have been employed for a minimum of: 1. Preforming a service of real es- tate 2. In the state of Florida 3. For another 4. For compensa- tion Compensation 45 14 one year $50 Post Licensing d. a commission or salary a. 6 months under one actively licensed broker b. 12 months under one actively licensed broker c. 12 months under 1 or more actively licensed bro- kers d. 6 months under 1 or more actively lisenced broker 19. How many hours of postlicense education are re- quired to renew a brokers license? 20. How long can an voluntary inactive licencee remain in that lisence status? 21. The agreement the state of Florida has w/ some other states that recognises the similarity in education and experience required of licencees is called: rocity b. mutual recognition c. cooperative licensure d. intrastate licensing 22. A plumber has been appointed by a court to appraise a small business. The plumber....... a. is in violation of F.S. 475 b. is allowed to charge a commission c. may do so and be paid a fee d. must first be licensed under F.S. 475, Part II 23. A Georgia Auctioneer was asked by a local real es- tate broker to auction a small motel in Jacksonville. The auction did not result in a sale. The Florida bro- ker paid the auctioneer for out-of-pocket expenses, but did not pay a commission. It would be correct to say that the: a. Georgia Autioneer violated the license law b. Florida Broker did not violate the license law c. Florida broker is not subject to discipline by the c. 12 months under 1 or more actively licensed brokers 60 hours indefinately b. mutual recogni- tion c. may do so and be paid a fee a. Georgia Aution- eer violated the li- cense law Florida real estate commision d. tranaction is perfectly within the license law 24. The Commission's ability to impose disciplinary actions against licensees is known as power 25. The rule-making authority of the FREC is called power quasi - judicial quasi - legislative 26. Members of the Florida Real estate Commission may 2 serve no more than consecutive terms 27. A licensee that fails to renew when required to do so will have his or her license placed on involuntary Inactive 28. Licensees that are members of the armed forces have all fees, dues and other requirements waived during their military service and for months after returning to civilian life 29. The division of Real Estate is an administrative part of the department of: a. State b. Commerce c. Banking d. Business and Professional Regulation 30. which department issues real estate licenses? a. state b. Business and Professional Regulation c. Revenue d. Real Estate 31. Which information supplied by an applicant is Public Record? 6 d. Business and Professional Regu- lation b. Business and Professional Regu- lation c. name and ad- dress