State Exam FLORIDA REAL ESTATE Questions and Answers 100% Pass

State Exam FLORIDA REAL ESTATE Questions and Answers 100% Pass When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate - Correct Answer ️️ -the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs Which of the following is true regarding the Florida RE commission? - Correct Answer ️️ -Two members do not have to have a Florida Real Estate license The Fair Housing Act prohibits discrimination based on - Correct Answer ️️ -Race, color, religion, national origin, sex, familial status, handicap A piece of property that is 400 feet by 325 feet is - Correct Answer ️️ -3 acres The truth in lending act - Correct Answer ️️ -gives a consumer the right to rescind a mortgage secured by his homestead Who can renew their initial Florida real estate license without post license education? - Correct Answer ️️ -A person that graduated with a university with a 4 year degree in real estate Which of the following words are synonyms? - Correct Answer ️️ -vendor-seller If an adult enters into a contract with a child - Correct Answer ️️ -this contract can be enforced in a court by the child Price Fixing is - Correct Answer ️️ -a violation of Sherman-clayton antitrust law In a joint tenancy - Correct Answer ️️ -has the right of survivorship and owners acquire interest at the same time An expressed contract - Correct Answer ️️ -is unambiguous To become the chairman of the Florida Real Estate Commission - Correct Answer ️️ -a member is elected by his or her peers A florida Real Estate license - Correct Answer ️️ -has an expiration date on it, expires biennially, serves as prima facie evidence that the holder is properly licensed Florida Real estate licensee cannot promise to re-purchase property back in the future unless - Correct Answer ️️ -a guaranteed re-purchae agreement has been approved by the state of florida A florida real estate salesman must turn escrow money over to his broker - Correct Answer ️️ -before the end of the business day following the day he received the money A florida real estate broker can have - Correct Answer ️️ -an interest bearing escrow account Which of the following would a buyer certainly not get at closing - Correct Answer ️️ - certificate of title When the gov. exercises the power of eminent domain, which of the following statements is NOT true - Correct Answer ️️ -Homestead will protect a widow from eminent domain When a person dies intestate with no heirs - Correct Answer ️️ -Their Real Estate passes to the Florida gov. through a process called escheat Actual notice is - Correct Answer ️️ -something you have learned by reading, seeing, or hearing Minnie Me mortgage back securities - Correct Answer ️️ -carry the full faith and credit guarantee of the US gov. The combining of two or more adjacent properties into one tract to increase the usability and value of the resulting consolidation is - Correct Answer ️️ -Assemblage One advantage of real estate as an investment is - Correct Answer ️️ -it is easy to leverage Positive leverage occurs - Correct Answer ️️ -when the benefits from borrowing exceed the costs of borrowing Which of the following is an encumbrance? - Correct Answer ️️ -lien If a corporation had a blanket mortgage on a property they were developing they would need - Correct Answer ️️ -partial release clause If the title to a property is marketable - Correct Answer ️️ -there are no title defects When can a license be suspended immediately? - Correct Answer ️️ -When the secretary of the DBPR issues an emergency suspension Jones Vs. Meyer is a famous lawsuit that - Correct Answer ️️ -upheld the Civil Rights Act of 1866 Inheritability in Title comes with - Correct Answer ️️ -Tenants in Common Real Estate Tax Prorations are typically entered as - Correct Answer ️️ -credit to the buyer, credit to the seller A tenancy at will - Correct Answer ️️ -can be terminated by either party giving notice, can be a month to month rental agreements and either party can t