Study exam TSRE questions with verified
answers
A person works for an owner-developer and is paid on asalary basis.
Along with that, they also earn a bonus foreach lot sold in the
development. Are they required tohold an active real estate license?
Ans✓✓✓ Yes, anyone who makes a commission from sales musthold
an active real estate license.35, 37 2-10, 10-12
A prospective buyer of an existing condominium(resale) unit must
receive what document(s)? Ans✓✓✓ 1. Most recent year-end financial
report
2. Rules of the association
3. Governance
form193 17-26
A sales associate receives an earnest money depositcheck on Thursday.
When must the associate deliver thedeposit to their broker? Ans✓✓✓
Friday.(By the end of the next business day)100 Gray box
An owner of an apartment complex offers a $150 bonusto tenants who
refer people that become tenants. Is thislegal under Chapter 475?
Ans✓✓✓ No, the maximum referral fee allowed is $50 forunlicensed
tenants.112 23-29
,Can the Florida Real Estate Commission (FREC) imposerestitution to an
injured party? Ans✓✓✓ No, they can impose a probationary period,
suspension,or require completion of a course.137 2-11
For brokers, what anti-competitive acts are prohibitedunder the
Sherman Antitrust Act? Ans✓✓✓ 1. Price-fixing (competing brokers
establish standardcommission rate)2. Market allocation (brokers agree
to split marketsamong themselves)110 23-37
For residential income-producing property, what is theestablished
useful asset life under the IRS code? Ans✓✓✓ 27.5 years.
421 38-41
How long does a lender have to provide a borrowerwith a written Loan
Estimate under the TILA-RESPAIntegrated Disclosure Rule? Ans✓✓✓ It
must be provided no later than 3 business days afterreceiving the
borrower's loan application.320, 321 39-47, Fig13.8
How many business days does a broker have to notifyFREC if a broker
requested an escrow disbursementorder (EDO), but the buyer and
seller ended up settlingtheir dispute? Ans✓✓✓ 10 business days. 105
Gray box
How many sections are in a township, andwhich section is directly west
of section 15 in a giventownship? Ans✓✓✓ 36 sections total,
section16.235 2-11, Fig10.6
, How must compensation be paid (if any)to a salesassociate who
performs a broker's price opinion (BPO)? Ans✓✓✓ Any compensation
must be paid to the broker, neverdirectly to the sales associate.7 29-34
How will any prorated rental income that is paid inadvance appear on
the Closing Disclosure? Ans✓✓✓ Credit to the buyer, debit to the
seller
How would unpaid property taxes appear on theClosing Disclosure if
the closing is set for July 15th? Ans✓✓✓ Debit to the seller, credit to
the buyer.
339 4-10, graybox
How would you convert a tax rate expressed in mills to adecimal?
Ans✓✓✓ Move the decimal point three places to the left
(1,000thplace). EX: 9 mills = .009
413, 414 40-47, 1-4
if a comparable property is better than the subjectproperty, how would
you calculate the adjusted saleprice of the comparable? Ans✓✓✓ CBS:
Comparable Better Subtract*If the comparable property was
inferior,CIA: Comparable Inferior Add370 Wholepage
answers
A person works for an owner-developer and is paid on asalary basis.
Along with that, they also earn a bonus foreach lot sold in the
development. Are they required tohold an active real estate license?
Ans✓✓✓ Yes, anyone who makes a commission from sales musthold
an active real estate license.35, 37 2-10, 10-12
A prospective buyer of an existing condominium(resale) unit must
receive what document(s)? Ans✓✓✓ 1. Most recent year-end financial
report
2. Rules of the association
3. Governance
form193 17-26
A sales associate receives an earnest money depositcheck on Thursday.
When must the associate deliver thedeposit to their broker? Ans✓✓✓
Friday.(By the end of the next business day)100 Gray box
An owner of an apartment complex offers a $150 bonusto tenants who
refer people that become tenants. Is thislegal under Chapter 475?
Ans✓✓✓ No, the maximum referral fee allowed is $50 forunlicensed
tenants.112 23-29
,Can the Florida Real Estate Commission (FREC) imposerestitution to an
injured party? Ans✓✓✓ No, they can impose a probationary period,
suspension,or require completion of a course.137 2-11
For brokers, what anti-competitive acts are prohibitedunder the
Sherman Antitrust Act? Ans✓✓✓ 1. Price-fixing (competing brokers
establish standardcommission rate)2. Market allocation (brokers agree
to split marketsamong themselves)110 23-37
For residential income-producing property, what is theestablished
useful asset life under the IRS code? Ans✓✓✓ 27.5 years.
421 38-41
How long does a lender have to provide a borrowerwith a written Loan
Estimate under the TILA-RESPAIntegrated Disclosure Rule? Ans✓✓✓ It
must be provided no later than 3 business days afterreceiving the
borrower's loan application.320, 321 39-47, Fig13.8
How many business days does a broker have to notifyFREC if a broker
requested an escrow disbursementorder (EDO), but the buyer and
seller ended up settlingtheir dispute? Ans✓✓✓ 10 business days. 105
Gray box
How many sections are in a township, andwhich section is directly west
of section 15 in a giventownship? Ans✓✓✓ 36 sections total,
section16.235 2-11, Fig10.6
, How must compensation be paid (if any)to a salesassociate who
performs a broker's price opinion (BPO)? Ans✓✓✓ Any compensation
must be paid to the broker, neverdirectly to the sales associate.7 29-34
How will any prorated rental income that is paid inadvance appear on
the Closing Disclosure? Ans✓✓✓ Credit to the buyer, debit to the
seller
How would unpaid property taxes appear on theClosing Disclosure if
the closing is set for July 15th? Ans✓✓✓ Debit to the seller, credit to
the buyer.
339 4-10, graybox
How would you convert a tax rate expressed in mills to adecimal?
Ans✓✓✓ Move the decimal point three places to the left
(1,000thplace). EX: 9 mills = .009
413, 414 40-47, 1-4
if a comparable property is better than the subjectproperty, how would
you calculate the adjusted saleprice of the comparable? Ans✓✓✓ CBS:
Comparable Better Subtract*If the comparable property was
inferior,CIA: Comparable Inferior Add370 Wholepage
