Real Estate U Final Study
Guide Exam Questions
and Complete Solutions
Graded A+
Denning [Date] [Course title]
, Why is there a high demand for property managers in Florida? - Answer: Absentee owners
One qualified by education, training and experience who is hired to estimate the value of real and
personal property based on experience, judgment, facts, and use of formal appraisal process is known as
a/an? - Answer: Appraiser
What is dedication? - Answer: Giving up private land for public use
An organization with at least one real estate broker acting as the agent for others in negotiating the sale
or rental of real property for a fee is known as a/an? - Answer: Real estate brokerage
What is a home built from blueprints supplied by the buyer is called? - Answer: A custom home
An appraisal can be completed by? - Answer: A licensed appraiser using USPAP standards
MLS is an acronym for? - Answer: Multiple Listing System
What is a BPO? - Answer: Broker Price Opinion
What is the meaning of Caveat Emptor? - Answer: Buyer Beware
What is the difference between a Broker Associate and a Broker? - Answer: A Broker Associate has
passed the Broker exam but chooses to work for a Broker
Which Organization approves the Sales Associate and Broker License Applications? - Answer: DBPR
What is a newly licensed person working for a broker known as? - Answer: A Sales Associate
What is the pre-licensing education requirement for a Broker? - Answer: 72 hours
Guide Exam Questions
and Complete Solutions
Graded A+
Denning [Date] [Course title]
, Why is there a high demand for property managers in Florida? - Answer: Absentee owners
One qualified by education, training and experience who is hired to estimate the value of real and
personal property based on experience, judgment, facts, and use of formal appraisal process is known as
a/an? - Answer: Appraiser
What is dedication? - Answer: Giving up private land for public use
An organization with at least one real estate broker acting as the agent for others in negotiating the sale
or rental of real property for a fee is known as a/an? - Answer: Real estate brokerage
What is a home built from blueprints supplied by the buyer is called? - Answer: A custom home
An appraisal can be completed by? - Answer: A licensed appraiser using USPAP standards
MLS is an acronym for? - Answer: Multiple Listing System
What is a BPO? - Answer: Broker Price Opinion
What is the meaning of Caveat Emptor? - Answer: Buyer Beware
What is the difference between a Broker Associate and a Broker? - Answer: A Broker Associate has
passed the Broker exam but chooses to work for a Broker
Which Organization approves the Sales Associate and Broker License Applications? - Answer: DBPR
What is a newly licensed person working for a broker known as? - Answer: A Sales Associate
What is the pre-licensing education requirement for a Broker? - Answer: 72 hours
