Azure Tide Real Estate Final Exam
UPDATED ACTUAL Exam Questions and
CORRECT Answers
How is practicing real estate without a license punishable as? - CORRECT ANSWER -
Third degree felony
Without written permission, Phillip tells his buyer Tom, that his seller Mark is getting divorced
and must sell the property quickly. Phillip is representing both Mark and Tom as a transaction
broker. Phillip has violated which agency duty? - CORRECT ANSWER - Limited
confidentiality
Maxine didn't understand the paperwork that an oil company had her sign when they started
drilling for oil on her property. The guy that got her to sign the paperwork was very nice and told
her she would never have to move off the property - but could sell it anytime if she chose. But
when they struck oil, she wasn't entitled to any of the money from the oil. What rights had she
signed over to the oil company? - CORRECT ANSWER - Mineral
Which of the following most accurately describes the statute of limitations? - CORRECT
ANSWER - Places a time limit on pursuing a legal remedy in relation to wrongful conduct
Winnie failed to add to her application for a Florida real estate license the fact that she had
previously been convicted of theft. Which statement is true? - CORRECT ANSWER -
Failure for Winnie to disclose the theft would be viewed as falsifying an application.
All the following are acceptable to register with the DBPR as a real estate brokerage except
which of the following? - CORRECT ANSWER - Corporation sole
Walden had an architect draw up plans for four different styles of homes. He then built four
models matching the designs and offered to build similar homes to buyers. What type of
construction method is this known as? - CORRECT ANSWER - tract homes
, Which statement is FALSE regarding a net Listing? - CORRECT ANSWER - Net listings
are unilateral Contracts
Brokers must retain a brokerage relationship disclosure documents for 5 years except in which of
the following situations? - CORRECT ANSWER - working with a buyer or seller as a
transaction broker from the outset
Which of the following statements is false based on the Statute of Frauds? - CORRECT
ANSWER - Option contracts can be verbal if for less than one year
Natasha is representing a seller as a single agent and is also working with the buyer. What type
of relationship is she allowed to have with the buyer? - CORRECT ANSWER - no agency
relationship
There are two parties to a mortgage. Which is the correct pairing? - CORRECT
ANSWER - Mortgagor = Borrower
Joshua purchased property in Escambia County. Joshua put $30,000.00 as a down payment and
obtained a new mortgage for $150,230.00. There was no other consideration for the transfer.
How much will the documentary stamp tax on the deed be? - CORRECT ANSWER -
$1,262.10
Donna is the property manager for an apartment building complex. Sarah used to live in the
complex but moved to a house recently. Sarah referred her sister, Pam, to Donna for Pam to
become a new tenant. Donna paid Sarah $50 for the referral. Which statement about this
situation is true? - CORRECT ANSWER - This is illegal, per RESPA because Sarah no
longer lives in the apartment building.
What is the intangible tax when getting a new mortgage in the amount of $550,000.00? -
CORRECT ANSWER - $1,100
Under the Fair Housing Act of 1968, which category of groups are protected from
discrimination? - CORRECT ANSWER - national origin
UPDATED ACTUAL Exam Questions and
CORRECT Answers
How is practicing real estate without a license punishable as? - CORRECT ANSWER -
Third degree felony
Without written permission, Phillip tells his buyer Tom, that his seller Mark is getting divorced
and must sell the property quickly. Phillip is representing both Mark and Tom as a transaction
broker. Phillip has violated which agency duty? - CORRECT ANSWER - Limited
confidentiality
Maxine didn't understand the paperwork that an oil company had her sign when they started
drilling for oil on her property. The guy that got her to sign the paperwork was very nice and told
her she would never have to move off the property - but could sell it anytime if she chose. But
when they struck oil, she wasn't entitled to any of the money from the oil. What rights had she
signed over to the oil company? - CORRECT ANSWER - Mineral
Which of the following most accurately describes the statute of limitations? - CORRECT
ANSWER - Places a time limit on pursuing a legal remedy in relation to wrongful conduct
Winnie failed to add to her application for a Florida real estate license the fact that she had
previously been convicted of theft. Which statement is true? - CORRECT ANSWER -
Failure for Winnie to disclose the theft would be viewed as falsifying an application.
All the following are acceptable to register with the DBPR as a real estate brokerage except
which of the following? - CORRECT ANSWER - Corporation sole
Walden had an architect draw up plans for four different styles of homes. He then built four
models matching the designs and offered to build similar homes to buyers. What type of
construction method is this known as? - CORRECT ANSWER - tract homes
, Which statement is FALSE regarding a net Listing? - CORRECT ANSWER - Net listings
are unilateral Contracts
Brokers must retain a brokerage relationship disclosure documents for 5 years except in which of
the following situations? - CORRECT ANSWER - working with a buyer or seller as a
transaction broker from the outset
Which of the following statements is false based on the Statute of Frauds? - CORRECT
ANSWER - Option contracts can be verbal if for less than one year
Natasha is representing a seller as a single agent and is also working with the buyer. What type
of relationship is she allowed to have with the buyer? - CORRECT ANSWER - no agency
relationship
There are two parties to a mortgage. Which is the correct pairing? - CORRECT
ANSWER - Mortgagor = Borrower
Joshua purchased property in Escambia County. Joshua put $30,000.00 as a down payment and
obtained a new mortgage for $150,230.00. There was no other consideration for the transfer.
How much will the documentary stamp tax on the deed be? - CORRECT ANSWER -
$1,262.10
Donna is the property manager for an apartment building complex. Sarah used to live in the
complex but moved to a house recently. Sarah referred her sister, Pam, to Donna for Pam to
become a new tenant. Donna paid Sarah $50 for the referral. Which statement about this
situation is true? - CORRECT ANSWER - This is illegal, per RESPA because Sarah no
longer lives in the apartment building.
What is the intangible tax when getting a new mortgage in the amount of $550,000.00? -
CORRECT ANSWER - $1,100
Under the Fair Housing Act of 1968, which category of groups are protected from
discrimination? - CORRECT ANSWER - national origin
