Florida Real Estate FREC 1 All Quizes
One example of a Loan Originator would be a(n)
A. family member.
B. a real estate agent.
C. associate lender.
D. seller who finances more than two homes in a two year period. - correct answer D
Why does a real estate professional need a license?
A. He has specific information to be able to show a house.
B. He has specific information to lease a house.
C. He has expert information on real estate that an average layperson does not have.
D. He does not need a license; he can sell and list whenever he wants. - correct answer C
Florida law requires that you be approved by the state for licensure (through registration and
application) _________ they can take the State-licensing exam, which is WHY students are asked to apply
for licensure as early as possible while in the course.
A. before
,B. after
C. Upon finding a broker
D. when - correct answer A
Which is the most important issue for a broker acting as a property manager to accomplish?
A. To make sure the building is 100% occupied
B. To keep the tenants happy and satisfied
C. To budget and keep the cost down
D. To get maximum income while preserving the value of the investment - correct answer D
Dedication most nearly means
A. concern for others.
B. public health issues.
C. giving private land for public use.
D. donating a hospital to a private charity. - correct answer C
The practice of a real estate sales associate specializing in a particular geographic area is called
A. farming.
,B. prospecting.
C. soliciting.
D. advertising. - correct answer A
Putting together two or more parcels of land to make a larger parcel is called
A. subdivision.
B. assemblage.
C. financial plan.
D. incentive. - correct answer B
Agriculture property in Florida is a property that
A. has many buildings on it.
B. has fewer than 10 acres.
C. has fewer than 5 acres.
D. has more than 10 acres. - correct answer D
In Florida, there is a demand for property management services due to the large amount of
A. waterfront properties.
B. theme parks.
C. absentee owners.
D. residents who own condominiums. - correct answer C
A home that is specially built for a buyer, using his/her blueprints, is called
A. a custom home.
B. a tract home.
, C. a spec home.
D. an original home. - correct answer A
Which statement is TRUE?
A. The real estate industry makes up about 25% of the nation's economy.
B. Real estate affects only real estate professionals, buyers, and sellers.
C. Real estate only has one direction: buying and selling.
D. The real estate industry is not regulated. - correct answer A
Having a membership in The National Association of REALTORS ® (NAR), Florida Association of REALTORS
® (FAR), and the local Board (association) of REALTORS ®
A. is required in order to hold a Florida Real Estate license.
B. is required in order to hold a Florida Appraiser's license.
C. has nothing to do with obtaining or maintaining a real estate license.
D. is required for anyone wanting to buy or sell real estate. - correct answer C
It is unethical for an appraiser to accept compensation for
performing an assignment when it is contingent upon
A. the appraiser having a real estate license.
B. the requirement for a certain type of loan.
One example of a Loan Originator would be a(n)
A. family member.
B. a real estate agent.
C. associate lender.
D. seller who finances more than two homes in a two year period. - correct answer D
Why does a real estate professional need a license?
A. He has specific information to be able to show a house.
B. He has specific information to lease a house.
C. He has expert information on real estate that an average layperson does not have.
D. He does not need a license; he can sell and list whenever he wants. - correct answer C
Florida law requires that you be approved by the state for licensure (through registration and
application) _________ they can take the State-licensing exam, which is WHY students are asked to apply
for licensure as early as possible while in the course.
A. before
,B. after
C. Upon finding a broker
D. when - correct answer A
Which is the most important issue for a broker acting as a property manager to accomplish?
A. To make sure the building is 100% occupied
B. To keep the tenants happy and satisfied
C. To budget and keep the cost down
D. To get maximum income while preserving the value of the investment - correct answer D
Dedication most nearly means
A. concern for others.
B. public health issues.
C. giving private land for public use.
D. donating a hospital to a private charity. - correct answer C
The practice of a real estate sales associate specializing in a particular geographic area is called
A. farming.
,B. prospecting.
C. soliciting.
D. advertising. - correct answer A
Putting together two or more parcels of land to make a larger parcel is called
A. subdivision.
B. assemblage.
C. financial plan.
D. incentive. - correct answer B
Agriculture property in Florida is a property that
A. has many buildings on it.
B. has fewer than 10 acres.
C. has fewer than 5 acres.
D. has more than 10 acres. - correct answer D
In Florida, there is a demand for property management services due to the large amount of
A. waterfront properties.
B. theme parks.
C. absentee owners.
D. residents who own condominiums. - correct answer C
A home that is specially built for a buyer, using his/her blueprints, is called
A. a custom home.
B. a tract home.
, C. a spec home.
D. an original home. - correct answer A
Which statement is TRUE?
A. The real estate industry makes up about 25% of the nation's economy.
B. Real estate affects only real estate professionals, buyers, and sellers.
C. Real estate only has one direction: buying and selling.
D. The real estate industry is not regulated. - correct answer A
Having a membership in The National Association of REALTORS ® (NAR), Florida Association of REALTORS
® (FAR), and the local Board (association) of REALTORS ®
A. is required in order to hold a Florida Real Estate license.
B. is required in order to hold a Florida Appraiser's license.
C. has nothing to do with obtaining or maintaining a real estate license.
D. is required for anyone wanting to buy or sell real estate. - correct answer C
It is unethical for an appraiser to accept compensation for
performing an assignment when it is contingent upon
A. the appraiser having a real estate license.
B. the requirement for a certain type of loan.
