Florida Real Estate STATE exam
When a seller is about to enter a fiduciary relationship with a brokerage firm what must
be given? - ✔️✔️Single Agency Notice
Which Florida law prohibits a lender from refinancing a loan to the same borrower within
the first 18 months of making a loan, if doing so does NOT reasonably benefit the
borrower - ✔️✔️Florida Fair Lending Act
Jim failed his state exam twice and believes some of the questions that he answered
were indeed correct. He can write a written obligation for consideration for the questions
to whom? - ✔️✔️FREC Validation Committee
A group license
A. allows a broker to have a branch office
B. allows a sales associate to work for more than one broker
C. may be held by a sale associate or broker associate
D.allows a broker to qualify more than one broker firm - ✔️✔️C. may be held by a sale
associate or broker
The following are exempt from F.S. 475 EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing activities.
D. Business Brokers - ✔️✔️D. Business Brokers
General Partners in a brokerage partnership that are not qualified to perform the
services of real estate must be registered as for what? - ✔️✔️For Identification
Purposes
Which brokerage disclosure notice must be signed or initialed by the buyer or seller
before implementation? - ✔️✔️Transition to Transaction
The best protection that the public has during a Real Estate transaction is (are)
A. The national and state association of REALTORS
B. The punishment of licensees dealing dishonesty
C. the high ethical standards of real estate agents
D. FREC and the license law - ✔️✔️D. FREC and the license law
, A broker owes which duty to a customer? What should he disclose? - ✔️✔️Known
Facts affecting the value of the residential property
Sale associate works for a broker and receives an escrow deposit when should he
deliver it? - ✔️✔️To his broker immediately (next business day)
Listings obtained by a sales associate become property of whom? - ✔️✔️Employing
broker
When there is a dispute over escrow funds, the procedures include four choices. Which
choice involves a third person recommending a solution?
A. Arbitration
B. Mediation
C. Litigation
D. Escrow Disbursement Order - ✔️✔️B. Mediation
What is a step that follows the investigation in complaint process - ✔️✔️Formal
Hearing
If a licensee does not dispute a citation it has the same effect as what? - ✔️✔️Final
Order
What is the max penalty that a court could impose a second-degree misdemeanor? -
✔️✔️$500 fine and/or 60 Days of Jail time
For multiple claims against a licensee, the FL real estate recovery fund has a max of
how much? - ✔️✔️$150,000
For single judgment against a licensee, the FL real estate recovery fund has a max of
how much? - ✔️✔️$50,000
How is the FL Real Estate Fund funded? - ✔️✔️From licensing fees
Appeals of FREC final orders must be filed where? - ✔️✔️District Court of Appeals
If a broker fails to pay his sale associate he may be charged with? - ✔️✔️Conversion
What are the 7 things that the Fair housing act of 1968 prohibits the discrimination
based on? - ✔️✔️Race, Color, Sex, Religion, Handicap, Marital Status and National
Orgin
When a seller is about to enter a fiduciary relationship with a brokerage firm what must
be given? - ✔️✔️Single Agency Notice
Which Florida law prohibits a lender from refinancing a loan to the same borrower within
the first 18 months of making a loan, if doing so does NOT reasonably benefit the
borrower - ✔️✔️Florida Fair Lending Act
Jim failed his state exam twice and believes some of the questions that he answered
were indeed correct. He can write a written obligation for consideration for the questions
to whom? - ✔️✔️FREC Validation Committee
A group license
A. allows a broker to have a branch office
B. allows a sales associate to work for more than one broker
C. may be held by a sale associate or broker associate
D.allows a broker to qualify more than one broker firm - ✔️✔️C. may be held by a sale
associate or broker
The following are exempt from F.S. 475 EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing activities.
D. Business Brokers - ✔️✔️D. Business Brokers
General Partners in a brokerage partnership that are not qualified to perform the
services of real estate must be registered as for what? - ✔️✔️For Identification
Purposes
Which brokerage disclosure notice must be signed or initialed by the buyer or seller
before implementation? - ✔️✔️Transition to Transaction
The best protection that the public has during a Real Estate transaction is (are)
A. The national and state association of REALTORS
B. The punishment of licensees dealing dishonesty
C. the high ethical standards of real estate agents
D. FREC and the license law - ✔️✔️D. FREC and the license law
, A broker owes which duty to a customer? What should he disclose? - ✔️✔️Known
Facts affecting the value of the residential property
Sale associate works for a broker and receives an escrow deposit when should he
deliver it? - ✔️✔️To his broker immediately (next business day)
Listings obtained by a sales associate become property of whom? - ✔️✔️Employing
broker
When there is a dispute over escrow funds, the procedures include four choices. Which
choice involves a third person recommending a solution?
A. Arbitration
B. Mediation
C. Litigation
D. Escrow Disbursement Order - ✔️✔️B. Mediation
What is a step that follows the investigation in complaint process - ✔️✔️Formal
Hearing
If a licensee does not dispute a citation it has the same effect as what? - ✔️✔️Final
Order
What is the max penalty that a court could impose a second-degree misdemeanor? -
✔️✔️$500 fine and/or 60 Days of Jail time
For multiple claims against a licensee, the FL real estate recovery fund has a max of
how much? - ✔️✔️$150,000
For single judgment against a licensee, the FL real estate recovery fund has a max of
how much? - ✔️✔️$50,000
How is the FL Real Estate Fund funded? - ✔️✔️From licensing fees
Appeals of FREC final orders must be filed where? - ✔️✔️District Court of Appeals
If a broker fails to pay his sale associate he may be charged with? - ✔️✔️Conversion
What are the 7 things that the Fair housing act of 1968 prohibits the discrimination
based on? - ✔️✔️Race, Color, Sex, Religion, Handicap, Marital Status and National
Orgin
