Florida Real Estate Exam 2023 With Complete Solutions

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 underF.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 2. In the state of Florida 3. For another 4. For compensation _________ has been defined to include anything or any service of Value paid, recieved or expected to be paid or recieved. - Correct answer-Compensation The postlicense educational course for sales associate consists of ________ hours - Correct answer-45 The continuing education requirement consists of ______ hours - Correct answer-14 Florida Real estate sales associates that desire to become brokers must wait _______ ________ before taking the state exam. - Correct answer-one year A tenant in an apartment complex may recieve up to ______ for refferal of a new tenant for the same complex. - Correct answer-$50 ________ ________ education must be completed during the initial sales associates's license period. - Correct answer-Post Licensing Owner-employers of licensed real estate sales associates 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 - Correct answer-d. a commission or salary To qualify for a real estate broker's license, an applicant must have been employed for a minimum of: 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 brokers d. 6 months under 1 or more actively lisenced broker - Correct answer-c. 12 months under 1 or more actively licensed brokers How many hours of postlicense education are required to renew a brokers license? - Correct answer-60 hours How long can an voluntary inactive licencee remain in that lisence status? - Correct answer-indefinately 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 - Correct answer-b. mutual recognition 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 - Correct answer-c. may do so and be paid a fee A Georgia Auctioneer was asked by a local real estate broker to auction a small motel in Jacksonville. The auction did not result in a sale. The Florida broker 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 Florida real estate commision d. tranaction is perfectly within the license law - Correct answer-a. Georgia Autioneer violated the license law The Commission's ability to impose disciplinary