Azure Tide Real Estate Final Exam/ Azure de realty
45hr pra ce exam 2 NEW SETS COMPILED TOGETHER
WITH COMPLETE SOLUTION 100% VERIFIED CORRECT
NEW!!
How is prac cing real estate without a license punishable as? - Ans Third degree felony
Without wri en permission, Phillip tells his buyer Tom, that his seller Mark is ge"ng divorced
and must sell the property quickly. Phillip is represen ng both Mark and Tom as a transac on
broker. Phillip has violated which agency duty? - Ans Limited confiden ality
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 any me if she chose.
But when they struck oil, she wasn't en tled to any of the money from the oil. What rights had
she signed over to the oil company? - Ans Mineral
Which of the following most accurately describes the statute of limita ons? - Ans Places a
me limit on pursuing a legal remedy in rela on to wrongful conduct
Winnie failed to add to her applica on for a Florida real estate license the fact that she had
previously been convicted of the-. Which statement is true? - Ans Failure for Winnie to
disclose the the- would be viewed as falsifying an applica on.
All the following are acceptable to register with the DBPR as a real estate brokerage except
which of the following? - Ans Corpora on 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
construc on method is this known as? - Ans tract homes
Which statement is FALSE regarding a net Lis ng? - Ans Net lis ngs are unilateral Contracts
Brokers must retain a brokerage rela onship disclosure documents for 5 years except in which
of the following situa ons? - Ans working with a buyer or seller as a transac on broker from
the outset
Which of the following statements is false based on the Statute of Frauds? - Ans Op on
contracts can be verbal if for less than one year
Natasha is represen ng a seller as a single agent and is also working with the buyer. What type
of rela onship is she allowed to have with the buyer? - Ans no agency rela onship
There are two par es to a mortgage. Which is the correct pairing? - Ans 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 considera on for the transfer.
How much will the documentary stamp tax on the deed be? - Ans $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
situa on is true? - Ans This is illegal, per RESPA because Sarah no longer lives in the apartment
building.
What is the intangible tax when ge"ng a new mortgage in the amount of $550,000.00? - Ans
$1,100
, Under the Fair Housing Act of 1968, which category of groups are protected from
discrimina on? - Ans na onal origin
The Civil Rights Act of 1866 prevented discrimina on based on being a member of which
group? - Ans race
When the Department inves gated a complaint against Mick, a licensee, the inves gator
believed that the charges were too serious to allow the licensee to prac ce real estate during
the inves ga on and hearings. Which statement is true? - Ans The DBPR Secretary could
ini ate a summary suspension against Mick to suspend his license un l the ma er was
resolved.
You bought a home for $850,000. You put $100,000 down. You agreed to buy 3 discount points.
How much did you pay for the points total? - Ans $22,500
A building erected permanently on a property is considered what? - Ans real property
FREC defines a Florida resident as someone that has resided in the state for a con nuous
period of how many months? - Ans 4 months
Ralph agrees to purchase two discount points. How will this affect the lender's yield? - Ans The
lender's yield will increase by a total of ¼%.
In a metes-and-bounds descrip on what is the opposite direc on of South 25 degrees East? -
Ans North 25 degrees West
Betsy, a broker associate, hired Monica as a licensed assistant. Monica assisted with contract
nego a ons. Betsy wrote her a check every week for her salary as an assistant. Which
statement is correct? - Ans Although Monica is licensed, Betsy cannot pay Monica directly for
45hr pra ce exam 2 NEW SETS COMPILED TOGETHER
WITH COMPLETE SOLUTION 100% VERIFIED CORRECT
NEW!!
How is prac cing real estate without a license punishable as? - Ans Third degree felony
Without wri en permission, Phillip tells his buyer Tom, that his seller Mark is ge"ng divorced
and must sell the property quickly. Phillip is represen ng both Mark and Tom as a transac on
broker. Phillip has violated which agency duty? - Ans Limited confiden ality
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 any me if she chose.
But when they struck oil, she wasn't en tled to any of the money from the oil. What rights had
she signed over to the oil company? - Ans Mineral
Which of the following most accurately describes the statute of limita ons? - Ans Places a
me limit on pursuing a legal remedy in rela on to wrongful conduct
Winnie failed to add to her applica on for a Florida real estate license the fact that she had
previously been convicted of the-. Which statement is true? - Ans Failure for Winnie to
disclose the the- would be viewed as falsifying an applica on.
All the following are acceptable to register with the DBPR as a real estate brokerage except
which of the following? - Ans Corpora on 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
construc on method is this known as? - Ans tract homes
Which statement is FALSE regarding a net Lis ng? - Ans Net lis ngs are unilateral Contracts
Brokers must retain a brokerage rela onship disclosure documents for 5 years except in which
of the following situa ons? - Ans working with a buyer or seller as a transac on broker from
the outset
Which of the following statements is false based on the Statute of Frauds? - Ans Op on
contracts can be verbal if for less than one year
Natasha is represen ng a seller as a single agent and is also working with the buyer. What type
of rela onship is she allowed to have with the buyer? - Ans no agency rela onship
There are two par es to a mortgage. Which is the correct pairing? - Ans 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 considera on for the transfer.
How much will the documentary stamp tax on the deed be? - Ans $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
situa on is true? - Ans This is illegal, per RESPA because Sarah no longer lives in the apartment
building.
What is the intangible tax when ge"ng a new mortgage in the amount of $550,000.00? - Ans
$1,100
, Under the Fair Housing Act of 1968, which category of groups are protected from
discrimina on? - Ans na onal origin
The Civil Rights Act of 1866 prevented discrimina on based on being a member of which
group? - Ans race
When the Department inves gated a complaint against Mick, a licensee, the inves gator
believed that the charges were too serious to allow the licensee to prac ce real estate during
the inves ga on and hearings. Which statement is true? - Ans The DBPR Secretary could
ini ate a summary suspension against Mick to suspend his license un l the ma er was
resolved.
You bought a home for $850,000. You put $100,000 down. You agreed to buy 3 discount points.
How much did you pay for the points total? - Ans $22,500
A building erected permanently on a property is considered what? - Ans real property
FREC defines a Florida resident as someone that has resided in the state for a con nuous
period of how many months? - Ans 4 months
Ralph agrees to purchase two discount points. How will this affect the lender's yield? - Ans The
lender's yield will increase by a total of ¼%.
In a metes-and-bounds descrip on what is the opposite direc on of South 25 degrees East? -
Ans North 25 degrees West
Betsy, a broker associate, hired Monica as a licensed assistant. Monica assisted with contract
nego a ons. Betsy wrote her a check every week for her salary as an assistant. Which
statement is correct? - Ans Although Monica is licensed, Betsy cannot pay Monica directly for
