FLORIDA Real Estate Pre-license Exam Review / of
key Quizzes & Correct Answers.
Terms in this set (103)
Real Estate Business Is composed of many specialization's:
- (1)Details of Property Transfer -Knowledge of:
(2)market conditions
(3)how to market real estate business
(4)how to analyze buyers needs
(5)laws that pertain to real estate
Real Estate Brokerage Is the bringing together of buyers and sellers, owners and
renters and completing real estate transactions.
**How can a agent **Follow Up. This will result in a good reputation and FUTURE
maintain good standing REFERRALS and word-of-mouth advertising.**
with clients? (After title
closing)**
What are the 5 major sales Residential. (Remember 4-10 Rule: any vacant land zoned
specialties? (Types of for 4 or fewer residential units OR agricultural property of
properties/lots)
10 or fewer acres.){A condo is considered a single family
home} Commercial.
Industrial.
Agricultural.
Business. (Considered "business brokers."
**Presumption in Florida that businesses include real
property**)
When brokers/sales associate become an expert in one
What is a Farm Area?
portion of the city.
,What is the difference Rental Agent: find a tenant & collect fee.
between a rental agent and Property Manager: continue to manage property after tenant is
a property manager? secured.
What is an absentee owner? is a property owner who does not reside on
property/often relies on professional property
manager to manage investment.
Can a real estate broker / Yes, but CANNOT say they are state certified, registered
sales associate appraise a trainee, or licensed appraisers.
property for compensation?
When conducting Uniform Standards of Professional Appraisal Practice
appraisals, must follow (USPAP) (Best Practices)
what set of guidelines?
What is a brokers price It is the opinion of value of real property, and yes as long as it
opinion (BPO)? Can a real is not considered an appraisal.
estate licensees charge for
these?
***Who does the ***C. Compensation can not be paid directly to associates.
commission for a BPO, or for
any service of real estate, go
to?
a)broker associate
b)sales associate
c)broker
Who may use the term REALTOR and real estate licensee are not
REALTOR? synonymous. REALTORS are members of a local board
of realtors (privately run organization).
Who created the MLS National Association of Realtors.
(Multiple Listing Service)
database?
, Applicants should be familiar (F.S. = Florida Statute)
with these laws an rules and F.S. 20
their respective subsections:
F.S. Chapter 475
-Part 1. pertains to real estate brokerage
-Part 2. pertains to real estate appraisers
-Part 3. Commercial Real Estate SALES Commission
Lien Act (Lien is only on owners net proceeds)
-Part 4. Commercial Real Estate LEASING Commission
Lien Act. (Gives broker lien rights)
F.S. 455
Chapter 61J2
***When going through ***Cautioned to complete carefully, and to fully
application process what disclose any background criminal history EVEN IF
should applicant NOT conviction was withheld adjudication. {It is the
exclude? applicants responsibility to verify these things}
***Non-florida-residents are Proof of U.S. citizenship, however must have a social security
not required to provide: number. (SSN used to see if applicants are in compliance with child
support obligations)
***Real Estate applicants Pre-license course.
approved for licensure
under mutual recognition
are exempt from:
On Florida state exam, what License Exam - 70%
percentage is considered State Exam - 75%
passing? What percent on
license exam?
During pre-license course Miss more than 8hours of the course.
students may not:
key Quizzes & Correct Answers.
Terms in this set (103)
Real Estate Business Is composed of many specialization's:
- (1)Details of Property Transfer -Knowledge of:
(2)market conditions
(3)how to market real estate business
(4)how to analyze buyers needs
(5)laws that pertain to real estate
Real Estate Brokerage Is the bringing together of buyers and sellers, owners and
renters and completing real estate transactions.
**How can a agent **Follow Up. This will result in a good reputation and FUTURE
maintain good standing REFERRALS and word-of-mouth advertising.**
with clients? (After title
closing)**
What are the 5 major sales Residential. (Remember 4-10 Rule: any vacant land zoned
specialties? (Types of for 4 or fewer residential units OR agricultural property of
properties/lots)
10 or fewer acres.){A condo is considered a single family
home} Commercial.
Industrial.
Agricultural.
Business. (Considered "business brokers."
**Presumption in Florida that businesses include real
property**)
When brokers/sales associate become an expert in one
What is a Farm Area?
portion of the city.
,What is the difference Rental Agent: find a tenant & collect fee.
between a rental agent and Property Manager: continue to manage property after tenant is
a property manager? secured.
What is an absentee owner? is a property owner who does not reside on
property/often relies on professional property
manager to manage investment.
Can a real estate broker / Yes, but CANNOT say they are state certified, registered
sales associate appraise a trainee, or licensed appraisers.
property for compensation?
When conducting Uniform Standards of Professional Appraisal Practice
appraisals, must follow (USPAP) (Best Practices)
what set of guidelines?
What is a brokers price It is the opinion of value of real property, and yes as long as it
opinion (BPO)? Can a real is not considered an appraisal.
estate licensees charge for
these?
***Who does the ***C. Compensation can not be paid directly to associates.
commission for a BPO, or for
any service of real estate, go
to?
a)broker associate
b)sales associate
c)broker
Who may use the term REALTOR and real estate licensee are not
REALTOR? synonymous. REALTORS are members of a local board
of realtors (privately run organization).
Who created the MLS National Association of Realtors.
(Multiple Listing Service)
database?
, Applicants should be familiar (F.S. = Florida Statute)
with these laws an rules and F.S. 20
their respective subsections:
F.S. Chapter 475
-Part 1. pertains to real estate brokerage
-Part 2. pertains to real estate appraisers
-Part 3. Commercial Real Estate SALES Commission
Lien Act (Lien is only on owners net proceeds)
-Part 4. Commercial Real Estate LEASING Commission
Lien Act. (Gives broker lien rights)
F.S. 455
Chapter 61J2
***When going through ***Cautioned to complete carefully, and to fully
application process what disclose any background criminal history EVEN IF
should applicant NOT conviction was withheld adjudication. {It is the
exclude? applicants responsibility to verify these things}
***Non-florida-residents are Proof of U.S. citizenship, however must have a social security
not required to provide: number. (SSN used to see if applicants are in compliance with child
support obligations)
***Real Estate applicants Pre-license course.
approved for licensure
under mutual recognition
are exempt from:
On Florida state exam, what License Exam - 70%
percentage is considered State Exam - 75%
passing? What percent on
license exam?
During pre-license course Miss more than 8hours of the course.
students may not:
