Real Estate Exam FL Sales Associate Questions and Answers 100% Pass

Real Estate Exam FL Sales Associate Questions and Answers 100% Pass Absentee Owner - Correct Answer ️️ -A property owner who does not reside on the property and who usually relies on a property manager to oversee the investment Abstract of Title - Correct Answer ️️ -A compilation of the recorded documents relating to a parcel of land from which an attorney may give an opinion as to the condition of title (a history of title) Acceleration Clause - Correct Answer ️️ -A condition in a loan contract that permits the lender to require immediate repayment of the entire loan balance of the loan if the contract is breached or conditions for repayment occur, such as sale or demolition Acknowledgment - Correct Answer ️️ -A written declaration by a person signing a document, given before an officer authorized to give an oath (notary public), stating that the signing is the person's voluntary act Actual notice - Correct Answer ️️ -Giving oral or written notice, presenting a deed, giving verbal notice, or physically moving into a property Ad Valorem - Correct Answer ️️ -According to value Adjudication Withheld - Correct Answer ️️ -When a criminal final judgment is withheld or not recorded in public record Adjustable Rate Mortgage (ARM) - Correct Answer ️️ -A mortgage loan with a calculated interest rate that may increase or decrease during the term of the loan Adverse Possession: - Correct Answer ️️ -A method of acquiring title by possession under open, notorious, exclusive, and hostile conditions for seven or more years Agent - Correct Answer ️️ -A person authorized by a principal to act on the principal's behalf Amortized Mortgage - Correct Answer ️️ -A mortgage loan that is fully repaid according to a periodic and consistent schedule that includes both principal and interest Appraisal - Correct Answer ️️ -A supported, defended estimate of the value of property rights as of a given date Appreciation - Correct Answer ️️ -An increase in a property's value Assemblage - Correct Answer ️️ -The bringing together of two adjoining parcels of property under one ownership Arrears - Correct Answer ️️ -When payment is due at the end of the term Assignment - Correct Answer ️️ -A transfer to another of any property, real or personal, or of any rights or estates in said property Assumption - Correct Answer ️️ -The taking over of an existing mortgage by a buyer Base Line - Correct Answer ️️ -The horizontal line that runs east and west through Tallahassee that is the starting point for all other horizontal lines north and south of Tallahassee Basis - Correct Answer ️️ -The purchase price plus closing costs and other added improvements Benchmark - Correct Answer ️️ -Survey mark made which is pe