Gold Coast School Real Estate
nn nn nn nn nn
nn
Questions Ch.1-19 2025 Updatednn nn nn nn
nn
1. The nnreal nnestate nnmarket nnis nnlocal nnin nnnature nnwhat nndoes nnthat nnmean? nn-
nnCORRECT nnANSWER-Information nnabout nnreal nnestate nncan nnbest nnbe nnfound nnthrough
nnlocal nnsources, nnwhich nnmakes nnthe nnreal nnestate nnmarket nnlocal nnin nnnature nn
nn
2. You nnwould nnexpect nna nnreal nnestate nnlicensee nnto nnperform nnall nnof nnthe nnfollowing
nnactivities, nnEXCEPT: nn nn
A. Providing nnexpert nnknowledge nnabout nnconstruction nnmethods nnand nnmaterials nn
B. Providing nnexpert nnknowledge nnto nnmembers nnof nnthe nnpublic nnin nnthe nnperformance
nnof nnspecified nnservices nnof nnreal nnestate nn nn
C. Following nnup nnwith nncustomers nnand nnclients nnafter nna nntransaction nnhas nnbeen
nncompleted nn nnD. nnActing nnas nnan nnintermediary, nnor nnagent, nnbetween nntwo nnor nnmore
nnpeople nnin nnthe nnnegotiation nnof nnthe nnsale, nnpurchase, nnor nnlease nnof nnreal nnestate nn-
nnCORRECT nnANSWER-A. nnProviding nnexpert nnknowledge nnabout nnconstruction
nnmethods nnand nnmaterials nn
nn
3. nnA nnreal nnestate nnlicensee nnis nnexpected nnto nnhave nnexpert nnknowledge nnin nnwhat
nnthree nnareas? nn
A. Valuation, nnmarketing, nnand nnproperty nntransfer nn
B. Mortgages, nnproperty nntaxes, nnand nnhomeowners' nninsurance nnpolicies nn
C. Residential nnreal nnestate, nncommercial nnreal nnestate, nnand nnsurveys nn nn
D. Area nnschools, nnlocal nncrime nnrates, nnand nnproximity nnto nnpotential nnemployers nn-
nnCORRECT nnANSWER-A. nnValuation, nnmarketing, nnand nnproperty nntransfer nn
nn
4. nnWhat nnis nna nncomparative nnmarket nnanalysis? nn
A. A nncomparison nnof nnassessed nnvalues nnin nnthe nnsame nnneighborhood nn
B. A nnvalue nnestimate nnbased nnon nnrecent nnsales nnof nnidentical nnproperties nnin nnthe nnsame
nnneighborhood nn
C. A nnvalue nnestimate nnbased nnin nnrecent nnsales nnof nnsimilar nnproperties nnin nnthe nnsame
nnneighborhood nn nn
D. An nnappraisal nnof nnthe nnvalue nnof nna nnproperty nn- nnCORRECT nnANSWER-C. nnA nnvalue
nnestimate nnbased nnin nnrecent nnsales nnof nnsimilar nnproperties nnin nnthe nnsame
nnneighborhood nn
nn
5. nnWhich nntype nnof nnvaluation nnmust nnbe nnperformed nnin nnaccordance nnwith nnthe
nnUniform nnStandards nnof nnProfessional nnAppraisal nnPractice nn(USPAP) nnA. nnAppraisal nnin
nna nnfederally-related nntransaction nn
B. Broker nnprice nnopinion nn(BPO) nn
C. Comparative nnmarket nnanalysis nn(CMA) nn
D. None nnof nnthe nnabove nn- nnCORRECT nnANSWER-A. nnAppraisal nnin nna nnfederally-
related nntransaction nn
nn
,6. nnMany nnreal nnestate nnlicensees nnengage nnin nn"farming". nnWhich nnof nnthe nnfollowing nnbest
nndescribes nn
nn
what nnthat
nnmeans?
A. They nnconduct nnopen nnhouses nnon nnweekends nn nn
B. They nnuse nnmarketing nnvehicles nnsuch nnas nndirect nnmailing nnand nnadvertisements nnin
nnreal nnestate nnmagazines nn
C. They nnconcentrate nnon nnthe nnsale nnof nnagricultural nnproperties nn
D. They nnconcentrate nnon nnone nntype nnof nnproperty nnor nnin nna nnparticular nnneighborhood
nn- nnCORRECT nnANSWER-D. nnThey nnconcentrate nnon nnone nntype nnof nnproperty nnor nnin
nna nnparticular nnneighborhood nn
nn
All nnof nnthe nnfollowing nnwould nnbe nnconsidered nncommercial nnproperty, nnEXCEPT nn
A. an nnoffice nnbuilding nnthat nnaccommodates nnthree nntenants nn
B. A nnhigh-rise nnapartment nnbuilding nnin nnthe nndowntown nnarea nnof nnthe nncity nn
C. A nnshopping nncenter nnthat nnadjoins nna nnresidential nnneighborhood nn
D. A nnlarge nnhouse nnthat nnhas nnbeen nnsubdivided nninto nnfour nnapartments nn- nnCORRECT
nnANSWERD. nnA nnlarge nnhouse nnthat nnhas nnbeen nnsubdivided nninto nnfour nnapartments
nn
nn
If nnthe nnsale nnof nna nnbusiness nninvolves nnthe nntransfer nnof nnownership nnof nnshares nnof
nnstock, nnwhat nn
nn
additional nnrequirement nnis
nnimposed?
nn
A. nnThe nnreal nnestate nnlicensee nnmust nnbe nnassociated nnwith nna
nnbrokerage nnfirm
nn
B. nnA nnbrokerage nnfirm nnmust nnbe nnbrought nnin nnto nnhandle nnthe
nntransaction
nn
C. nnThe nnreal nnestate nnlicensee nnmust nnhave nna nnsecurities
nnlicense
nn
D. nnThe nnreal nnestate nnlicensee nnmust nnhave nnexperience nnas nna nnstockbroker nn-
nnCORRECT
nn
ANSWER-C. nnThe nnreal nnestate nnlicensee nnmust nnhave nna nnsecurities
nnlicense
nn
Which nnreal nnestate nnprofessional nnis nnexpected nnto nnhave nnthe nngreatest nnlevel nnof
nnknowledge nnand nn
nn
experience? nn- nnCORRECT nnANSWER-a nnreal nnestate
nncounselor
nn
all nnof nnthe nnfollowing nnare nnresponsibilities nnof nna nnproperty nnmanager, nnEXCEPT nn
A. Handling nnthe nnpayment nnof nntaxes, nninsurance, nnand nnoperating nnexpenses nnfor nnthe
nnproperty nn nn
B. Evaluating nnthe nninvestment nnvalue nnof nnthe nnproperty nn
, C. Locating nntenants, nncollecting nnrents, nnmaintaining nnrecords, nnand nnscheduling
nnmaintenance nn nnD. nnProtecting nnthe nnowner's nninvestment nnand nnmaximizing nnthe
nnprofitability nnof nnthe nninvestment nn- nnCORRECT nnANSWER-B. nnEvaluating nnthe
nninvestment nnvalue nnof nnthe nnproperty nn
nn
According nnto nnF.S. nn475, nnall nnof nnthe nnfollowing nntransactions nnare nnconsidered
nnresidential nntransactions, nnEXCEPT: nn
A. A nnlease nnon nna nnunit nnin nna nnduplex, nnwith nnan nnoption nnto nnpurchase nnthe nnunit nn
B. The nnsale nnof nna nn10-unit nnapartment nnbuilding nn
C. The nnsale nnof nnan nneight-acre nnstrawberry nnfarm nn
D. The nnsale nnof nna nnlot nnthat nnis nnzoned nnfor nna nnsingle-family nnhome nn- nnCORRECT
nnANSWER-B. nnThe nnsale nnof nna nn10-unit nnapartment nnbuilding nn
nn
Which nnof nnthe nnfollowing nnbest nndefines nnappraising? nn
A. The nnprocess nnof nndetermining nnthe nnamount nnof nnequity nnin nnreal nnproperty nn
B. The nnprocess nnof nnestablishing nnthe nnasking nnprice nnof nnreal nnproperty nn
C. The nnprocess nnof nnestablishing nnthe nnfirm nnvalue nnof nnreal nnproperty nn
D. nnThe nnprocess nnof nndeveloping nnan nnopinion nnof nnthe nnvalue nnof nnreal nnproperty nn-
nnCORRECT nn
nn
ANSWER-D. nnThe nnprocess nnof nndeveloping nnan nnopinion nnof nnthe nnvalue nnof nnreal
nnproperty
nn
On nnwhat nnis nnan nnappraisal nnfee nnbased? nn
A. An nnaverage nnof nnthe nnfees nncharged nnfor nnappraisals nnof nnsimilar nnproperties nn
B. The nntime, nneffort, nnand nnexpense nninvolved nnin nnconducting nnthe nnappraisal nn
C. The nnvalue nnof nnthe nnproperty nn
D. The nnamount nnof nntime nnthe nnappraiser nnspends, nnaccording nnto nnthe nnprevailing
nnhourly nnrate nnin nnthe nnarea nn- nnCORRECT nnANSWER-B. nnThe nntime, nneffort, nnand
nnexpense nninvolved nnin nnconducting nnthe nnappraisal nn
nn
Which nnstatement nnabout nninsurance nnis nnaccurate? nn
A. nnMost nnhomeowner's nninsurance nnpolicies nninclude nnhome nnwarranty nncoverage nn
B. nn
C. nn
D. nn- nnCORRECT nnANSWER- nn
nn
Ch.2 nn- nnCORRECT nnANSWER- nn
nn
In nnwhat nnyear nndid nnFlorida nnenact nnits nnfirst nnreal nnestate
nnlicense nnlaw?
nn
A. 1923 nn
nn
B. 1919
C.
nn1925
nn
D. nn1941 nn- nnCORRECT nnANSWER-A.
nn1923
nn
nn nn nn nn nn
nn
Questions Ch.1-19 2025 Updatednn nn nn nn
nn
1. The nnreal nnestate nnmarket nnis nnlocal nnin nnnature nnwhat nndoes nnthat nnmean? nn-
nnCORRECT nnANSWER-Information nnabout nnreal nnestate nncan nnbest nnbe nnfound nnthrough
nnlocal nnsources, nnwhich nnmakes nnthe nnreal nnestate nnmarket nnlocal nnin nnnature nn
nn
2. You nnwould nnexpect nna nnreal nnestate nnlicensee nnto nnperform nnall nnof nnthe nnfollowing
nnactivities, nnEXCEPT: nn nn
A. Providing nnexpert nnknowledge nnabout nnconstruction nnmethods nnand nnmaterials nn
B. Providing nnexpert nnknowledge nnto nnmembers nnof nnthe nnpublic nnin nnthe nnperformance
nnof nnspecified nnservices nnof nnreal nnestate nn nn
C. Following nnup nnwith nncustomers nnand nnclients nnafter nna nntransaction nnhas nnbeen
nncompleted nn nnD. nnActing nnas nnan nnintermediary, nnor nnagent, nnbetween nntwo nnor nnmore
nnpeople nnin nnthe nnnegotiation nnof nnthe nnsale, nnpurchase, nnor nnlease nnof nnreal nnestate nn-
nnCORRECT nnANSWER-A. nnProviding nnexpert nnknowledge nnabout nnconstruction
nnmethods nnand nnmaterials nn
nn
3. nnA nnreal nnestate nnlicensee nnis nnexpected nnto nnhave nnexpert nnknowledge nnin nnwhat
nnthree nnareas? nn
A. Valuation, nnmarketing, nnand nnproperty nntransfer nn
B. Mortgages, nnproperty nntaxes, nnand nnhomeowners' nninsurance nnpolicies nn
C. Residential nnreal nnestate, nncommercial nnreal nnestate, nnand nnsurveys nn nn
D. Area nnschools, nnlocal nncrime nnrates, nnand nnproximity nnto nnpotential nnemployers nn-
nnCORRECT nnANSWER-A. nnValuation, nnmarketing, nnand nnproperty nntransfer nn
nn
4. nnWhat nnis nna nncomparative nnmarket nnanalysis? nn
A. A nncomparison nnof nnassessed nnvalues nnin nnthe nnsame nnneighborhood nn
B. A nnvalue nnestimate nnbased nnon nnrecent nnsales nnof nnidentical nnproperties nnin nnthe nnsame
nnneighborhood nn
C. A nnvalue nnestimate nnbased nnin nnrecent nnsales nnof nnsimilar nnproperties nnin nnthe nnsame
nnneighborhood nn nn
D. An nnappraisal nnof nnthe nnvalue nnof nna nnproperty nn- nnCORRECT nnANSWER-C. nnA nnvalue
nnestimate nnbased nnin nnrecent nnsales nnof nnsimilar nnproperties nnin nnthe nnsame
nnneighborhood nn
nn
5. nnWhich nntype nnof nnvaluation nnmust nnbe nnperformed nnin nnaccordance nnwith nnthe
nnUniform nnStandards nnof nnProfessional nnAppraisal nnPractice nn(USPAP) nnA. nnAppraisal nnin
nna nnfederally-related nntransaction nn
B. Broker nnprice nnopinion nn(BPO) nn
C. Comparative nnmarket nnanalysis nn(CMA) nn
D. None nnof nnthe nnabove nn- nnCORRECT nnANSWER-A. nnAppraisal nnin nna nnfederally-
related nntransaction nn
nn
,6. nnMany nnreal nnestate nnlicensees nnengage nnin nn"farming". nnWhich nnof nnthe nnfollowing nnbest
nndescribes nn
nn
what nnthat
nnmeans?
A. They nnconduct nnopen nnhouses nnon nnweekends nn nn
B. They nnuse nnmarketing nnvehicles nnsuch nnas nndirect nnmailing nnand nnadvertisements nnin
nnreal nnestate nnmagazines nn
C. They nnconcentrate nnon nnthe nnsale nnof nnagricultural nnproperties nn
D. They nnconcentrate nnon nnone nntype nnof nnproperty nnor nnin nna nnparticular nnneighborhood
nn- nnCORRECT nnANSWER-D. nnThey nnconcentrate nnon nnone nntype nnof nnproperty nnor nnin
nna nnparticular nnneighborhood nn
nn
All nnof nnthe nnfollowing nnwould nnbe nnconsidered nncommercial nnproperty, nnEXCEPT nn
A. an nnoffice nnbuilding nnthat nnaccommodates nnthree nntenants nn
B. A nnhigh-rise nnapartment nnbuilding nnin nnthe nndowntown nnarea nnof nnthe nncity nn
C. A nnshopping nncenter nnthat nnadjoins nna nnresidential nnneighborhood nn
D. A nnlarge nnhouse nnthat nnhas nnbeen nnsubdivided nninto nnfour nnapartments nn- nnCORRECT
nnANSWERD. nnA nnlarge nnhouse nnthat nnhas nnbeen nnsubdivided nninto nnfour nnapartments
nn
nn
If nnthe nnsale nnof nna nnbusiness nninvolves nnthe nntransfer nnof nnownership nnof nnshares nnof
nnstock, nnwhat nn
nn
additional nnrequirement nnis
nnimposed?
nn
A. nnThe nnreal nnestate nnlicensee nnmust nnbe nnassociated nnwith nna
nnbrokerage nnfirm
nn
B. nnA nnbrokerage nnfirm nnmust nnbe nnbrought nnin nnto nnhandle nnthe
nntransaction
nn
C. nnThe nnreal nnestate nnlicensee nnmust nnhave nna nnsecurities
nnlicense
nn
D. nnThe nnreal nnestate nnlicensee nnmust nnhave nnexperience nnas nna nnstockbroker nn-
nnCORRECT
nn
ANSWER-C. nnThe nnreal nnestate nnlicensee nnmust nnhave nna nnsecurities
nnlicense
nn
Which nnreal nnestate nnprofessional nnis nnexpected nnto nnhave nnthe nngreatest nnlevel nnof
nnknowledge nnand nn
nn
experience? nn- nnCORRECT nnANSWER-a nnreal nnestate
nncounselor
nn
all nnof nnthe nnfollowing nnare nnresponsibilities nnof nna nnproperty nnmanager, nnEXCEPT nn
A. Handling nnthe nnpayment nnof nntaxes, nninsurance, nnand nnoperating nnexpenses nnfor nnthe
nnproperty nn nn
B. Evaluating nnthe nninvestment nnvalue nnof nnthe nnproperty nn
, C. Locating nntenants, nncollecting nnrents, nnmaintaining nnrecords, nnand nnscheduling
nnmaintenance nn nnD. nnProtecting nnthe nnowner's nninvestment nnand nnmaximizing nnthe
nnprofitability nnof nnthe nninvestment nn- nnCORRECT nnANSWER-B. nnEvaluating nnthe
nninvestment nnvalue nnof nnthe nnproperty nn
nn
According nnto nnF.S. nn475, nnall nnof nnthe nnfollowing nntransactions nnare nnconsidered
nnresidential nntransactions, nnEXCEPT: nn
A. A nnlease nnon nna nnunit nnin nna nnduplex, nnwith nnan nnoption nnto nnpurchase nnthe nnunit nn
B. The nnsale nnof nna nn10-unit nnapartment nnbuilding nn
C. The nnsale nnof nnan nneight-acre nnstrawberry nnfarm nn
D. The nnsale nnof nna nnlot nnthat nnis nnzoned nnfor nna nnsingle-family nnhome nn- nnCORRECT
nnANSWER-B. nnThe nnsale nnof nna nn10-unit nnapartment nnbuilding nn
nn
Which nnof nnthe nnfollowing nnbest nndefines nnappraising? nn
A. The nnprocess nnof nndetermining nnthe nnamount nnof nnequity nnin nnreal nnproperty nn
B. The nnprocess nnof nnestablishing nnthe nnasking nnprice nnof nnreal nnproperty nn
C. The nnprocess nnof nnestablishing nnthe nnfirm nnvalue nnof nnreal nnproperty nn
D. nnThe nnprocess nnof nndeveloping nnan nnopinion nnof nnthe nnvalue nnof nnreal nnproperty nn-
nnCORRECT nn
nn
ANSWER-D. nnThe nnprocess nnof nndeveloping nnan nnopinion nnof nnthe nnvalue nnof nnreal
nnproperty
nn
On nnwhat nnis nnan nnappraisal nnfee nnbased? nn
A. An nnaverage nnof nnthe nnfees nncharged nnfor nnappraisals nnof nnsimilar nnproperties nn
B. The nntime, nneffort, nnand nnexpense nninvolved nnin nnconducting nnthe nnappraisal nn
C. The nnvalue nnof nnthe nnproperty nn
D. The nnamount nnof nntime nnthe nnappraiser nnspends, nnaccording nnto nnthe nnprevailing
nnhourly nnrate nnin nnthe nnarea nn- nnCORRECT nnANSWER-B. nnThe nntime, nneffort, nnand
nnexpense nninvolved nnin nnconducting nnthe nnappraisal nn
nn
Which nnstatement nnabout nninsurance nnis nnaccurate? nn
A. nnMost nnhomeowner's nninsurance nnpolicies nninclude nnhome nnwarranty nncoverage nn
B. nn
C. nn
D. nn- nnCORRECT nnANSWER- nn
nn
Ch.2 nn- nnCORRECT nnANSWER- nn
nn
In nnwhat nnyear nndid nnFlorida nnenact nnits nnfirst nnreal nnestate
nnlicense nnlaw?
nn
A. 1923 nn
nn
B. 1919
C.
nn1925
nn
D. nn1941 nn- nnCORRECT nnANSWER-A.
nn1923
nn
