Aure Tide realty End of Course UPDATED
ACTUAL Exam Questions and CORRECT
Answers
A Florida real estate sales associate who moves and becomes a nonresident of Florida must
notify the Commission of the change of residency within how many days? - CORRECT
ANSWER - 60
In case of breach by the buyer, most real estate contracts include a provision that the earnest
money be regarded as - CORRECT ANSWER - Liquidated damages to the seller
Subordination of a mortgage is: - CORRECT ANSWER - A later mortgage taking priority
to the original
Buffer Zone is an area of land that: - CORRECT ANSWER - Separates different land use
areas
Which matches the definition of a gross lease? - CORRECT ANSWER - When the tenant
pays a fixed rent and the landlord pays the property expenses such as taxes and insurance.
Utilities are paid as agreed in the lease.
Clark paid $250 for a rental list in a competitive area. After several days of looking for properties
he realized that the list wasn't current at the time it was sold to him. He requested a refund in
writing. How much would he get back? - CORRECT ANSWER - $250.00
An appraiser found three comparable properties however she believed that one of the properties
was significantly more relevant to the true value of the subject property. In this case, the
appraiser would most likely - CORRECT ANSWER - Assign weighted values to each of
the three properties
A due on sale clause in a mortgage - CORRECT ANSWER - Makes a mortgage non-
assumable
, An active Florida broker accompanies her husband when he goes on active military duty in Ohio
for five years. She is not active in real estate in Ohio. Upon their return to Florida, she: -
CORRECT ANSWER - Need not complete any continuing education or reactivation
education for those five years and for up to 2 years after honorable discharge
A home was purchased with a down payment of $36, 000 and a loan of $200,000 at 6.5% for 30
years. Monthly payments are $1,264.14. What is the loan to value ratio? - CORRECT
ANSWER - 85%
An owner of an apartment complex pays a previous tenant a $50 finder's fee for referring a
person who becomes a new tenant. This arrangement is not - CORRECT ANSWER -
Legal unless the previous tenant has a real estate license.
An assumed mortgage has interest paid: - CORRECT ANSWER - In arrears
When is a quitclaim deed normally used? - CORRECT ANSWER - To clear the title of
possible trouble spots or clouds on the deed.
Which statement is TRUE regarding homeowners association disclosure requirements?
1) The contract is not voidable even if the disclosure summary is not provided to the buyer
before executing the contract
2) The buyer cannot waive the right to void the contract if the disclosure has not been provided at
the time of or before signing the purchase agreement
3) The buyer is advised to execute the contract without receiving HOA disclosures
4) If the buyer decides to walk away from the contract, he can do so verbally - CORRECT
ANSWER - The buyer cannot waive the right to void the contract if the disclosure has not
been provided at the time of or before signing the purchase agreement
ACTUAL Exam Questions and CORRECT
Answers
A Florida real estate sales associate who moves and becomes a nonresident of Florida must
notify the Commission of the change of residency within how many days? - CORRECT
ANSWER - 60
In case of breach by the buyer, most real estate contracts include a provision that the earnest
money be regarded as - CORRECT ANSWER - Liquidated damages to the seller
Subordination of a mortgage is: - CORRECT ANSWER - A later mortgage taking priority
to the original
Buffer Zone is an area of land that: - CORRECT ANSWER - Separates different land use
areas
Which matches the definition of a gross lease? - CORRECT ANSWER - When the tenant
pays a fixed rent and the landlord pays the property expenses such as taxes and insurance.
Utilities are paid as agreed in the lease.
Clark paid $250 for a rental list in a competitive area. After several days of looking for properties
he realized that the list wasn't current at the time it was sold to him. He requested a refund in
writing. How much would he get back? - CORRECT ANSWER - $250.00
An appraiser found three comparable properties however she believed that one of the properties
was significantly more relevant to the true value of the subject property. In this case, the
appraiser would most likely - CORRECT ANSWER - Assign weighted values to each of
the three properties
A due on sale clause in a mortgage - CORRECT ANSWER - Makes a mortgage non-
assumable
, An active Florida broker accompanies her husband when he goes on active military duty in Ohio
for five years. She is not active in real estate in Ohio. Upon their return to Florida, she: -
CORRECT ANSWER - Need not complete any continuing education or reactivation
education for those five years and for up to 2 years after honorable discharge
A home was purchased with a down payment of $36, 000 and a loan of $200,000 at 6.5% for 30
years. Monthly payments are $1,264.14. What is the loan to value ratio? - CORRECT
ANSWER - 85%
An owner of an apartment complex pays a previous tenant a $50 finder's fee for referring a
person who becomes a new tenant. This arrangement is not - CORRECT ANSWER -
Legal unless the previous tenant has a real estate license.
An assumed mortgage has interest paid: - CORRECT ANSWER - In arrears
When is a quitclaim deed normally used? - CORRECT ANSWER - To clear the title of
possible trouble spots or clouds on the deed.
Which statement is TRUE regarding homeowners association disclosure requirements?
1) The contract is not voidable even if the disclosure summary is not provided to the buyer
before executing the contract
2) The buyer cannot waive the right to void the contract if the disclosure has not been provided at
the time of or before signing the purchase agreement
3) The buyer is advised to execute the contract without receiving HOA disclosures
4) If the buyer decides to walk away from the contract, he can do so verbally - CORRECT
ANSWER - The buyer cannot waive the right to void the contract if the disclosure has not
been provided at the time of or before signing the purchase agreement
