FL Real Estate Exam - Magnolia School all terms /
Certified Exam Questions & Answers / 2025.
Terms in this set (370)
Use of borrowed funds to purchase assets or to
What is leverage?
finance an investment
How is the binder deposit Credit buyer - BDCB
notated on the closing
disclosure?
What is the status of a Null and void
sales associates license
but they do not complete
the required post
licensing education prior
to their first renewal cycle
How many sections are in 36 (square miles )
a Township?
Which mortgage clause Due on sale clause
allows the mortgagee the
right to demand the
outstanding loan balance
plus secured interest in
the event that the
borrower sells or transfers
any interest in the
property without the
lenders prior written
consent
,What requirement is not Buyers must have the property inspected for leadbased paint
apply regarding dwellings
built prior to 1978
Two close friends on a Surviving owner becomes soul owner of the daycare center by
daycare center as joint operation of law
tenants with the right of
Survivorship. One owner
passed away, who owns the
daycare center?
The subject property is a Subtract $2200 from the comparable
three-bedroom, two-bath
home. A comparable
property is a threebedroom,
two and onehalf-bath home.
An appraiser has
determined that the extra
half bath is worth about
$2,200. What adjustment
should the appraiser make?
Which of the following is VA is the government insured loan and could be accompanied
incorrect concerning FHA by an origination fee
and VA mortgages?
FHA (Federal Housing Government insured loan
Administration) mortgage Origination fee
VA (Veterans Affairs) Government guaranteed loan
mortgage Funding fee
Origination fee
What lien takes priority first Property Tax, Special Assessment
and second?
Intangible tax is noted on Debit to the buyer
the closing disclosure as
,What is a blind ad? Doesn't list the realty company or brokerage
Which of the following is a Notice of noncompliance
penalty for first time minor
violation that is not
accompanied by a fine?
Nonlicensed assistants Handout objective written information on a rental property
may perform which
activity?
Two brothers have decided to Tenancy in Common
purchase investment
property in or not sure how
they want to take title. The
brothers wives have looked
into the options and have
decided that in the event
that one of the brothers die,
his wife would like to receive
title. With his information
how would they take title?
A father intended to leave his This one has title to the property because title to the property
house to a son and executed was conveyed when the father delivered the deed to his son
and his son voluntarily excepted it
a general warranty deed to
the property and gave it to
her son. Shortly after, the
father died, before the deed
could be recorded.
Which applies?
, Which of the following Covenant of seisin (own it and have right to sell it)
clauses or covenants in a
deed states that the grantor
owns the property and has
the right to convey it?
Amy, Bob, Frank, and Tenants in common
Francine all co-own of Beach
House on St. Petersburg
Beach. Frank died, and his
coownership of the property
passed, according to his will,
to his son. How do these
parties own the property?
Which statement is true Initially, interest is the largest portion of the payment
about the monthly
payments on a 30-year
fully amortized loan?
beginning of loan most payments go to interest
What are the rights Riparian rights
flowing through your
property called?
If a sales associate picks up Immediately, as defined, by Friday / 3 business days
an escrow check on Tuesday,
when does the broker have
to deposit it into the escrow
account?
Certified Exam Questions & Answers / 2025.
Terms in this set (370)
Use of borrowed funds to purchase assets or to
What is leverage?
finance an investment
How is the binder deposit Credit buyer - BDCB
notated on the closing
disclosure?
What is the status of a Null and void
sales associates license
but they do not complete
the required post
licensing education prior
to their first renewal cycle
How many sections are in 36 (square miles )
a Township?
Which mortgage clause Due on sale clause
allows the mortgagee the
right to demand the
outstanding loan balance
plus secured interest in
the event that the
borrower sells or transfers
any interest in the
property without the
lenders prior written
consent
,What requirement is not Buyers must have the property inspected for leadbased paint
apply regarding dwellings
built prior to 1978
Two close friends on a Surviving owner becomes soul owner of the daycare center by
daycare center as joint operation of law
tenants with the right of
Survivorship. One owner
passed away, who owns the
daycare center?
The subject property is a Subtract $2200 from the comparable
three-bedroom, two-bath
home. A comparable
property is a threebedroom,
two and onehalf-bath home.
An appraiser has
determined that the extra
half bath is worth about
$2,200. What adjustment
should the appraiser make?
Which of the following is VA is the government insured loan and could be accompanied
incorrect concerning FHA by an origination fee
and VA mortgages?
FHA (Federal Housing Government insured loan
Administration) mortgage Origination fee
VA (Veterans Affairs) Government guaranteed loan
mortgage Funding fee
Origination fee
What lien takes priority first Property Tax, Special Assessment
and second?
Intangible tax is noted on Debit to the buyer
the closing disclosure as
,What is a blind ad? Doesn't list the realty company or brokerage
Which of the following is a Notice of noncompliance
penalty for first time minor
violation that is not
accompanied by a fine?
Nonlicensed assistants Handout objective written information on a rental property
may perform which
activity?
Two brothers have decided to Tenancy in Common
purchase investment
property in or not sure how
they want to take title. The
brothers wives have looked
into the options and have
decided that in the event
that one of the brothers die,
his wife would like to receive
title. With his information
how would they take title?
A father intended to leave his This one has title to the property because title to the property
house to a son and executed was conveyed when the father delivered the deed to his son
and his son voluntarily excepted it
a general warranty deed to
the property and gave it to
her son. Shortly after, the
father died, before the deed
could be recorded.
Which applies?
, Which of the following Covenant of seisin (own it and have right to sell it)
clauses or covenants in a
deed states that the grantor
owns the property and has
the right to convey it?
Amy, Bob, Frank, and Tenants in common
Francine all co-own of Beach
House on St. Petersburg
Beach. Frank died, and his
coownership of the property
passed, according to his will,
to his son. How do these
parties own the property?
Which statement is true Initially, interest is the largest portion of the payment
about the monthly
payments on a 30-year
fully amortized loan?
beginning of loan most payments go to interest
What are the rights Riparian rights
flowing through your
property called?
If a sales associate picks up Immediately, as defined, by Friday / 3 business days
an escrow check on Tuesday,
when does the broker have
to deposit it into the escrow
account?
