FLORIDA REAL ESTATE U FINAL EXAM
LATEST 2023-2024 ACTUAL EXAM 250
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
,What does a real estate agent do? - ANSWER-Find a tenant for a property for a fee.
Who must be paid compensation for completing a BPO? - ANSWER-Broker
Who is a Florida resident according to FREC? - ANSWER-A person who resides in
Florida at least 4 months in the past year.
Who is exempt from the post-licensing (45hr) requirement? - ANSWER-Individuals with
a four year degree or higher in real estate.
Can a broker associate hold more than one broker associate license? - ANSWER-No
What is prima facie evidence? - ANSWER-A type of evidence, unless refuted by other
evidence will prove the case
When must someone working for an owner-developer have a real estate license? -
ANSWER-When they receive a bonus based on transactions.
What is the maximum amount that an apartment complex can pay as a referral fee
under FS 475 - ANSWER-$50
What are FRECs Quasi-legislative powers? - ANSWER-Create and pass rules and
bylaws, regulate professional practice including the power to revise administrative rules.
How long does a former active military member have to renew their license after
discharge? - ANSWER-24 months
You forget to renew your license after having one for 5 years. What education is
required if it has only been 6 months since your license expiration? - ANSWER-14
hours of continuing education.
What is it called when you give up your license when you retire? - ANSWER-voluntary
relinquishment
What type of agent is a sales associate working for a broker? - ANSWER-general agent
Which brokerage relationship would be best for someone wanting limited brokerage? -
ANSWER-Transactional broker
When is a brokerage relationship disclosure required under FS 475? - ANSWER-
Residential real estate including four or fewer residential lots.
When do you use a designated sales associate notice? - ANSWER-Nonresidential
transactions when two sales associates act as single agents.
What is required on all advertising? - ANSWER-Name of brokerage firm.
,How long may you contact a customer on the DO NOT Call list? - ANSWER-18 months.
When must a sales associate deliver earnest money deposit to the broker? - ANSWER-
by the end of the next business day.
How many days does the broker have to notify the FREC when the buyer and seller
settle their escrow dispute? - ANSWER-10 days
Three brokers agree to set their commission at 6%. What law(s) did they violate? -
ANSWER-Sherman anti-trust act and Clayton anti-trust act.
Who must have a broker's license in a real estate brokerage limited partnership? -
ANSWER-All general partners that deal with the public.
What business organizations may NOT register as a real estate brokerage? -
ANSWER-Business trust, corporation sole, joint venture, cooperative association, and
unincorporated association.
What is a Stay of Enforcement in the FREC disciplinary process. - ANSWER-Stops the
enforcement of the final order during the appeal process.
Can the FREC order restitution to an injured party? - ANSWER-No
What happens to a citation if the allegations are not disputed? - ANSWER-It becomes a
final order.
What is the fine and potential imprisonment for a first-degree misdemeanor? -
ANSWER-$1,000 fine and one year in jail.
What happens to a broker's license when a claim not related to an EDO is paid from the
recovery fund? - ANSWER-Suspended when payment is made from the fund.
A broker complied with an EDO. If the broker loses in court, what will the Recovery
Fund NOT pay? - ANSWER-Punitive damages.
What are the protected classes in Fair Housing? - ANSWER-Religion
Where do you NOT get the equal opportunity housing poster? - ANSWER-FREC or
DRE
According to Fair Housing, can a religious institution limit housing they own to their
members? - ANSWER-Yes, retirement or convalescent home.
When do you need to register with the Consumer Financial Protection Bureau? -
ANSWER-Developer with 100 or more lots.
, A landlord keeps a security deposit in an interest-bearing account, how much interest is
due to the tenant? - ANSWER-75% of the interest or 5% simple interest.
What are riparian rights? - ANSWER-Rights associated with land that abates running
water.
Would a fence be considered a fixture? - ANSWER-Yes
What type of tenancy is created if a tenant does not move out at the end of the lease
but continues to pay rent? - ANSWER-Tenancy at sufferance.
What type of tenancy passes property to your heirs according to your will? - ANSWER-
Tenancy in common.
What happens when a joint tenant sells their portion of a property? - ANSWER-They
become a tenant in common without the right of survivorship.
What type of lease is given to the owner in a Cooperative? - ANSWER-Proprietary
lease.
What documents must a buyer of a resale condo unit receive? - ANSWER-Most recent
year-end financial report, rules of the association, governance form, declaration, articles
of incorporation, bylaws, FAQ.
Is a Will voluntary or involuntary alienation? - ANSWER-voluntary
What is the PROCESS by which private property is acquired for public use? -
ANSWER-Condemnation
What is the signature requirement for a deed to be valid? - ANSWER-Signed and
property witnessed.
What type of deed includes the Covenant of Warranty Forever? - ANSWER-General
Warranty Deed
What document related to the deed restricts what you can do on a property? -
ANSWER-Restrictive Covenants
Is a vendor's lien voluntary? - ANSWER-Yes
What is south of T#N, R1W, T3N, R3W - ANSWER-T2N, R1W, T2N, R3W
What sections are located in the four corners of a Township? - ANSWER-1, 6, 31, 36
LATEST 2023-2024 ACTUAL EXAM 250
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
,What does a real estate agent do? - ANSWER-Find a tenant for a property for a fee.
Who must be paid compensation for completing a BPO? - ANSWER-Broker
Who is a Florida resident according to FREC? - ANSWER-A person who resides in
Florida at least 4 months in the past year.
Who is exempt from the post-licensing (45hr) requirement? - ANSWER-Individuals with
a four year degree or higher in real estate.
Can a broker associate hold more than one broker associate license? - ANSWER-No
What is prima facie evidence? - ANSWER-A type of evidence, unless refuted by other
evidence will prove the case
When must someone working for an owner-developer have a real estate license? -
ANSWER-When they receive a bonus based on transactions.
What is the maximum amount that an apartment complex can pay as a referral fee
under FS 475 - ANSWER-$50
What are FRECs Quasi-legislative powers? - ANSWER-Create and pass rules and
bylaws, regulate professional practice including the power to revise administrative rules.
How long does a former active military member have to renew their license after
discharge? - ANSWER-24 months
You forget to renew your license after having one for 5 years. What education is
required if it has only been 6 months since your license expiration? - ANSWER-14
hours of continuing education.
What is it called when you give up your license when you retire? - ANSWER-voluntary
relinquishment
What type of agent is a sales associate working for a broker? - ANSWER-general agent
Which brokerage relationship would be best for someone wanting limited brokerage? -
ANSWER-Transactional broker
When is a brokerage relationship disclosure required under FS 475? - ANSWER-
Residential real estate including four or fewer residential lots.
When do you use a designated sales associate notice? - ANSWER-Nonresidential
transactions when two sales associates act as single agents.
What is required on all advertising? - ANSWER-Name of brokerage firm.
,How long may you contact a customer on the DO NOT Call list? - ANSWER-18 months.
When must a sales associate deliver earnest money deposit to the broker? - ANSWER-
by the end of the next business day.
How many days does the broker have to notify the FREC when the buyer and seller
settle their escrow dispute? - ANSWER-10 days
Three brokers agree to set their commission at 6%. What law(s) did they violate? -
ANSWER-Sherman anti-trust act and Clayton anti-trust act.
Who must have a broker's license in a real estate brokerage limited partnership? -
ANSWER-All general partners that deal with the public.
What business organizations may NOT register as a real estate brokerage? -
ANSWER-Business trust, corporation sole, joint venture, cooperative association, and
unincorporated association.
What is a Stay of Enforcement in the FREC disciplinary process. - ANSWER-Stops the
enforcement of the final order during the appeal process.
Can the FREC order restitution to an injured party? - ANSWER-No
What happens to a citation if the allegations are not disputed? - ANSWER-It becomes a
final order.
What is the fine and potential imprisonment for a first-degree misdemeanor? -
ANSWER-$1,000 fine and one year in jail.
What happens to a broker's license when a claim not related to an EDO is paid from the
recovery fund? - ANSWER-Suspended when payment is made from the fund.
A broker complied with an EDO. If the broker loses in court, what will the Recovery
Fund NOT pay? - ANSWER-Punitive damages.
What are the protected classes in Fair Housing? - ANSWER-Religion
Where do you NOT get the equal opportunity housing poster? - ANSWER-FREC or
DRE
According to Fair Housing, can a religious institution limit housing they own to their
members? - ANSWER-Yes, retirement or convalescent home.
When do you need to register with the Consumer Financial Protection Bureau? -
ANSWER-Developer with 100 or more lots.
, A landlord keeps a security deposit in an interest-bearing account, how much interest is
due to the tenant? - ANSWER-75% of the interest or 5% simple interest.
What are riparian rights? - ANSWER-Rights associated with land that abates running
water.
Would a fence be considered a fixture? - ANSWER-Yes
What type of tenancy is created if a tenant does not move out at the end of the lease
but continues to pay rent? - ANSWER-Tenancy at sufferance.
What type of tenancy passes property to your heirs according to your will? - ANSWER-
Tenancy in common.
What happens when a joint tenant sells their portion of a property? - ANSWER-They
become a tenant in common without the right of survivorship.
What type of lease is given to the owner in a Cooperative? - ANSWER-Proprietary
lease.
What documents must a buyer of a resale condo unit receive? - ANSWER-Most recent
year-end financial report, rules of the association, governance form, declaration, articles
of incorporation, bylaws, FAQ.
Is a Will voluntary or involuntary alienation? - ANSWER-voluntary
What is the PROCESS by which private property is acquired for public use? -
ANSWER-Condemnation
What is the signature requirement for a deed to be valid? - ANSWER-Signed and
property witnessed.
What type of deed includes the Covenant of Warranty Forever? - ANSWER-General
Warranty Deed
What document related to the deed restricts what you can do on a property? -
ANSWER-Restrictive Covenants
Is a vendor's lien voluntary? - ANSWER-Yes
What is south of T#N, R1W, T3N, R3W - ANSWER-T2N, R1W, T2N, R3W
What sections are located in the four corners of a Township? - ANSWER-1, 6, 31, 36
