End of course exam- Part 1 Real Estate Questions and answers, rated A+| LATEST EXAM PREDICTIONS 2024

End of course exam- Part 1 Real Estate Questions and answers, rated A+ A licensed real estate broker has been hired by a lender to appraise a home for a buyer who has applied for an FHA loan. Which statement is TRUE regarding this situation? - The broker is required to be a state-certified appraiser to perform this appraisal assignment Leasehold estate do NOT include - a remainder estate The Florida real estate commission must notify which agency when it takes disciplinary action against of the agency licensees? - Division of Florida Condominiums, timeshare, and mobile home Failure to comply with the statute of frauds will result in - an unenforceable contract Which statute prohibits discrimination in hotels , restaurants, and other places of public accommodation if such discrimination is based on national origin? - Civil Rights Act of 1964 A broker received a $5,000 deposit from a buyer on Tuesday at 1pm. The seller will not be available until Monday. The brokers normal banking day is Monday. The broker is required to deposit the $5,000 before the end of - business on Friday Which expense is subtracted to derive NOI? - Vacancy and collection losses An investor wanted to build a motel. A broker showed him three choice sites zoned hotel-motel. The investor promised to decide on a site in three weeks, so the broker took a 2 week vacation. When the broker returned, the investor bought one of these sites. The broker sold the site, not knowing that the zoning on that site had been changed to industrial. Which is correct? - The broker is guilty of culpable negligence Which clause is included in a mortgage to prevent a subsequent buyer from assuming an existing mortgage loan? - Due- on-sale-clause The broker is a single agent of the seller. The principle has disclosed to the broker that the roof leaks, although there is no visible evidence of a water problem. The broker has satisfied his legal obligation to both the principal and all prospective buyers if he discloses - that the roof leaks The seller instructs the listing broker not to show his home to members of a protected class. The broker informs the seller that this is a violation of fair housing law, but the seller is insistent. Which choice is the brokers best course of action under these circumstances? - withdraw from the listing agreement A broker has a listing priced at $120,000. An uninformed buyer offers $125,000 for the property. The broker buys the property for $ 120,000 then sells it for $125,000. Which statement is False? - This is legal as long as the broker withdraws from the listing first A woman has homestead her residence. Her home has an assessed value of $279,000. She is a nonveteran who is totally and permanently disabled as a result of a serious car accident. She is also legally blind. What is her cumulative county tax exemption on her homestead residence? - $51,000 The duties of a real estate licensee, owed to a buyer or a seller who engages the real estate licensee as a single agent, do NOT include - limited confidentiality, unless waived in writing by a party Which savings association is federally chartered? - Federal Savings Association A sales associate who is employed by an owner developer who owns p