©EVERLY 2025 ALL RIGHTS RESERVED.
Florida Real Estate License Exam Study
Guide.
Client specialization - Answer✔working exclusively with buyers or sellers
property type specialization - Answer✔residential, commercial, agricultural, etc
type of transaction specialization - Answer✔sales agent, leasing agent, short sales buyer or
seller, REO specialist, property manager, etc
geographical area specialization - Answer✔a neighborhood specialist, for example
type of relationship specialization - Answer✔a fee based consultant vs. a commission based
agent vs a full time salaried employee
a real estate agent works exclusively with buyers. they have chosen a specialization that focuses
on the - Answer✔client
residential homeowner specialization - Answer✔sells primary residences to homeowners
residential investment specialization - Answer✔sells residential property to investors
commercial sales specialization - Answer✔sells commercial property to investors, including
offices, industrial space, PUDs, and retail
commercial leasing specialization - Answer✔leases commercial property to tenants, including
offices, industrial space, PUDs, and retial
property manager specialization - Answer✔leases and manages residential investment properties
on behalf of the owner for a fee
agricultural specialization - Answer✔sells farm land and other agricultural properties
unimproved land specialization - Answer✔sells unimproved land to investors or subdividers
residential leasing/apartment broker specialization - Answer✔leases residential properties for
landlords or helps residential tenants find homes to rent
foreclosure/short sales/reo specialist specialization - Answer✔sells distressed properties in short
sales or helps buy distresses properties in short sales or at foreclosure auctions
sellers market - Answer✔in favor of the seller, try not to pay too much above the listing price
1|Page
, ©EVERLY 2025 ALL RIGHTS RESERVED.
buyers market - Answer✔in favor of the buyer; sales price are more negotiable for buyers; gets
better deal on the price
real estate brokerage - Answer✔businesses of overseeing, consummating, and completing real
estate transactions and business by brining together the parties to a transaction
brokerage - Answer✔the physical building where brokers and their sales associates often work
broker - Answer✔can also refer to the actions taken to fulfill a real estate transaction
aparna is working with single family residences, vacation properties, and multi-family
residences. she likely specializes in: - Answer✔residential property
Alberto is a sales associate who is very interested in revenue and profit. a specialization that may
serve his interest well is: - Answer✔commercial property
co-op category - Answer✔residential
farm area - Answer✔a specific area a real estate associate chooses to specialize and become an
expert in
which dictates what is considered acceptable at a higher level - Answer✔ethics
florida has many miles of coastal property. the state helps regulate and protect this coastal
property, along with taking a large part of the responsibility of regulating - Answer✔the
recording of property conveyance
MLS - Answer✔multiple listing service; is a database in which local member brokers share
listings so other brokers can easily find buyers for those properties and establish compensation
expectations for properties sold jointly
realtor - Answer✔an individual who has their real estate license and joins a local board of
Realtors such as the National Association of Realtors
the golden rule which the code of ethics is based on - Answer✔treat others the way you wish to
be treated
NAR code of ethics - Answer✔- competency, fairness, integrity
- competency
- fairness
- integrity
property management - Answer✔is the vocation of renting or leasing someone else's real
property on their behalf in exchange for compensation and in accordance with a property
management employee contract
absentee owner - Answer✔is a property owner who does not occupy the property in question and
therefore often utilizes a property manager's services
2|Page
, ©EVERLY 2025 ALL RIGHTS RESERVED.
property managers - Answer✔have responsibilities buy their most important responsibility is to
realize the highest return possible on the owner's investment
miguel owns a beautiful property in Fort Lauderdale. As beautiful as it is, he doesn't live there.
Miguel is a(n) - Answer✔absentee owner
CAM - Answer✔community association manager; need a CAM license if license holder is
managing one of these types of properties, and if that property has eleven or more units and an
annual budget over $100,000 they need a CAM license
- mobil home parks
- planned unit developments (PUDs)
- homeowners associations
- cooperative
- timeshares
- condominiums
fair marketing - Answer✔property managers need to ensure their advertising lines up with
federal, state, and country laws, along with civil rights laws and fair housing guidelines. these
laws and guidelines state that organizations cant pick and choose their tenants based on factors
like race or gender. include equal housing logo in marketing graphics
special purpose property - Answer✔are properties that are commercial, but are neither industrial
nor classic retail
what might be challenging about managing a special purpose property such as a sports arena or
movie theatre? - Answer✔they typically require niche knowledge
management agreement or property management contract - Answer✔written contract between a
property owner and a property manager to establish all duties of the property manager, including
operation and leasing activities
percentage fee - Answer✔is a fee paid to the manager based on the effective gross income (EGI)
of the building. this includes income from rent plus additional revenue streams
flat fee - Answer✔or base commission, is a fixed fee paid per unity, not based on a percentage of
the income
the difference between a percentage fee and a flat fee is that a percentage fee - Answer✔is based
on a property's income whereas a flat fee does not vary
appraisal - Answer✔is an official valuation of a property's value.
characteristics
- is an impartial, qualified appraiser's opinion of value
3|Page
Florida Real Estate License Exam Study
Guide.
Client specialization - Answer✔working exclusively with buyers or sellers
property type specialization - Answer✔residential, commercial, agricultural, etc
type of transaction specialization - Answer✔sales agent, leasing agent, short sales buyer or
seller, REO specialist, property manager, etc
geographical area specialization - Answer✔a neighborhood specialist, for example
type of relationship specialization - Answer✔a fee based consultant vs. a commission based
agent vs a full time salaried employee
a real estate agent works exclusively with buyers. they have chosen a specialization that focuses
on the - Answer✔client
residential homeowner specialization - Answer✔sells primary residences to homeowners
residential investment specialization - Answer✔sells residential property to investors
commercial sales specialization - Answer✔sells commercial property to investors, including
offices, industrial space, PUDs, and retail
commercial leasing specialization - Answer✔leases commercial property to tenants, including
offices, industrial space, PUDs, and retial
property manager specialization - Answer✔leases and manages residential investment properties
on behalf of the owner for a fee
agricultural specialization - Answer✔sells farm land and other agricultural properties
unimproved land specialization - Answer✔sells unimproved land to investors or subdividers
residential leasing/apartment broker specialization - Answer✔leases residential properties for
landlords or helps residential tenants find homes to rent
foreclosure/short sales/reo specialist specialization - Answer✔sells distressed properties in short
sales or helps buy distresses properties in short sales or at foreclosure auctions
sellers market - Answer✔in favor of the seller, try not to pay too much above the listing price
1|Page
, ©EVERLY 2025 ALL RIGHTS RESERVED.
buyers market - Answer✔in favor of the buyer; sales price are more negotiable for buyers; gets
better deal on the price
real estate brokerage - Answer✔businesses of overseeing, consummating, and completing real
estate transactions and business by brining together the parties to a transaction
brokerage - Answer✔the physical building where brokers and their sales associates often work
broker - Answer✔can also refer to the actions taken to fulfill a real estate transaction
aparna is working with single family residences, vacation properties, and multi-family
residences. she likely specializes in: - Answer✔residential property
Alberto is a sales associate who is very interested in revenue and profit. a specialization that may
serve his interest well is: - Answer✔commercial property
co-op category - Answer✔residential
farm area - Answer✔a specific area a real estate associate chooses to specialize and become an
expert in
which dictates what is considered acceptable at a higher level - Answer✔ethics
florida has many miles of coastal property. the state helps regulate and protect this coastal
property, along with taking a large part of the responsibility of regulating - Answer✔the
recording of property conveyance
MLS - Answer✔multiple listing service; is a database in which local member brokers share
listings so other brokers can easily find buyers for those properties and establish compensation
expectations for properties sold jointly
realtor - Answer✔an individual who has their real estate license and joins a local board of
Realtors such as the National Association of Realtors
the golden rule which the code of ethics is based on - Answer✔treat others the way you wish to
be treated
NAR code of ethics - Answer✔- competency, fairness, integrity
- competency
- fairness
- integrity
property management - Answer✔is the vocation of renting or leasing someone else's real
property on their behalf in exchange for compensation and in accordance with a property
management employee contract
absentee owner - Answer✔is a property owner who does not occupy the property in question and
therefore often utilizes a property manager's services
2|Page
, ©EVERLY 2025 ALL RIGHTS RESERVED.
property managers - Answer✔have responsibilities buy their most important responsibility is to
realize the highest return possible on the owner's investment
miguel owns a beautiful property in Fort Lauderdale. As beautiful as it is, he doesn't live there.
Miguel is a(n) - Answer✔absentee owner
CAM - Answer✔community association manager; need a CAM license if license holder is
managing one of these types of properties, and if that property has eleven or more units and an
annual budget over $100,000 they need a CAM license
- mobil home parks
- planned unit developments (PUDs)
- homeowners associations
- cooperative
- timeshares
- condominiums
fair marketing - Answer✔property managers need to ensure their advertising lines up with
federal, state, and country laws, along with civil rights laws and fair housing guidelines. these
laws and guidelines state that organizations cant pick and choose their tenants based on factors
like race or gender. include equal housing logo in marketing graphics
special purpose property - Answer✔are properties that are commercial, but are neither industrial
nor classic retail
what might be challenging about managing a special purpose property such as a sports arena or
movie theatre? - Answer✔they typically require niche knowledge
management agreement or property management contract - Answer✔written contract between a
property owner and a property manager to establish all duties of the property manager, including
operation and leasing activities
percentage fee - Answer✔is a fee paid to the manager based on the effective gross income (EGI)
of the building. this includes income from rent plus additional revenue streams
flat fee - Answer✔or base commission, is a fixed fee paid per unity, not based on a percentage of
the income
the difference between a percentage fee and a flat fee is that a percentage fee - Answer✔is based
on a property's income whereas a flat fee does not vary
appraisal - Answer✔is an official valuation of a property's value.
characteristics
- is an impartial, qualified appraiser's opinion of value
3|Page
