FLORIDA REAL ESTATE LICENSE PRACTICE END-OF-
COURSE EXAM
A licensed real estate broker has been hired by a lender to appraise a home for a buyer
who has applied for an FHA loan. Whch statement is TRUE regarding this situation? -
Answer -The broker is required to be a state-certified appraiser to perform this appraisal
assignment.
Leasehold estate do NOT include - Answer -A remainder estate.
The Florida Real Estate Commission must notify which agency when it takes
disciplinary action against any of the agency's licensees? - Answer -Division of Florida
Condominiums, Time-shares, and Mobile Homes
Failure to comply with the statute of frauds will result in - Answer -An unenforceable
contract.
Which statute prohibits discrimination in hotels, restaurants, and other places of public
accommodation if such discrimination is based on national origin? - Answer -Civil
Rights Act of 1964
A broker received a $5000 deposit from the buyer on Tuesday at 1 PM. The seller will
not be available until Monday. The broker's normal banking days Monday. The broker is
required to deposit the $5000 before the end of - Answer -Business on Friday.
Which expense is subtracted to derive NOI? - Answer -Vacancy and collection losses
An investor wanted to build a motel. A brokerage showed him three choices sites zones
hotel -motel. The investor promised to decide on the site in three weeks, so the broker
took a two-week vacation. When the broker returned, the investor bought one of the
sites. The broker sold the site, not knowing that the zoning on that site had been
changed to industrial. Which is correct? - Answer -The broker is guilty of culpable
negligence
Which clause is included in the mortgage to prevent a subsequent buyer from assuming
an existing mortgage loan? - Answer -Due-on-sale clause
The broker is a single agent of the seller. The principal has this close to the broker at
the roof leaks although there's no visible evidence of water problem. The broker has
satisfied his legal obligation to both the principal and all perspective buyers if he
discloses - Answer -That the roof leaks.
, The seller instructs the listing broker not to show his home to members of a protected
class. The broker informs the seller that this is a violation of the fair housing laws, but
the seller is insistent. Which choice is the brokers best course of action under these
circumstances? - Answer -Withdraw from the listing agreement
A broker has a listing price at $120,000. An uninformed buyer offers $125,000 for the
property. The broker buys the property for $120,000, then sells it for $125,000. Which
statement is FALSE? - Answer -This is legal as long as the broker withdraws from the
listing first.
A woman has Homesteaded her residence. Her home has assessed value of $279,000.
She is a non-veteran who is totally and permanently disabled as a result of a serious car
accident. She's also legally blind what is her cumulative county tax exemption on her
Homesteaded residence? - Answer -$51,000
The duties of a real estate licensee, ode to a buyer or seller who engages the real
estate licensee as a single agent, do NOT include - Answer -Limited confidentiality,
unless waived in writing by a party.
Which savings association is federally chartered? - Answer -Federal savings
association
A sales associate who is employed by an owner - developer who owns properties in the
name of various entities may be issued - Answer -A group license
A tenant signed a 10 year lease requiring a monthly basis range of $1900, +2% of all
monthly gross sales volume over $95,000. The tenant also must pay all property taxes,
insurance, and other costs normally considered property owners costs. This is a -
Answer -Net lease.
A real estate license may be revoked without prejudice for which action? - Answer -
Issuance of a license by mistake of the commission.
A brokers license was involuntary inactive for two years and one month. To operate
again as an active licensee, the broker must complete - Answer -FREC course I and
pass the Sales Associate licensee exam.
A man successfully negotiated and was paid for the sale of a Federal Communications
Commission license for television station. He is not a licensed real estate broker or
sales associate. The Man - Answer -Has not violated F.S. 475.
Which statement concerning characteristics of a real estate market is FALSE? -
Answer -The real estate market is organized and controlled centrally.
COURSE EXAM
A licensed real estate broker has been hired by a lender to appraise a home for a buyer
who has applied for an FHA loan. Whch statement is TRUE regarding this situation? -
Answer -The broker is required to be a state-certified appraiser to perform this appraisal
assignment.
Leasehold estate do NOT include - Answer -A remainder estate.
The Florida Real Estate Commission must notify which agency when it takes
disciplinary action against any of the agency's licensees? - Answer -Division of Florida
Condominiums, Time-shares, and Mobile Homes
Failure to comply with the statute of frauds will result in - Answer -An unenforceable
contract.
Which statute prohibits discrimination in hotels, restaurants, and other places of public
accommodation if such discrimination is based on national origin? - Answer -Civil
Rights Act of 1964
A broker received a $5000 deposit from the buyer on Tuesday at 1 PM. The seller will
not be available until Monday. The broker's normal banking days Monday. The broker is
required to deposit the $5000 before the end of - Answer -Business on Friday.
Which expense is subtracted to derive NOI? - Answer -Vacancy and collection losses
An investor wanted to build a motel. A brokerage showed him three choices sites zones
hotel -motel. The investor promised to decide on the site in three weeks, so the broker
took a two-week vacation. When the broker returned, the investor bought one of the
sites. The broker sold the site, not knowing that the zoning on that site had been
changed to industrial. Which is correct? - Answer -The broker is guilty of culpable
negligence
Which clause is included in the mortgage to prevent a subsequent buyer from assuming
an existing mortgage loan? - Answer -Due-on-sale clause
The broker is a single agent of the seller. The principal has this close to the broker at
the roof leaks although there's no visible evidence of water problem. The broker has
satisfied his legal obligation to both the principal and all perspective buyers if he
discloses - Answer -That the roof leaks.
, The seller instructs the listing broker not to show his home to members of a protected
class. The broker informs the seller that this is a violation of the fair housing laws, but
the seller is insistent. Which choice is the brokers best course of action under these
circumstances? - Answer -Withdraw from the listing agreement
A broker has a listing price at $120,000. An uninformed buyer offers $125,000 for the
property. The broker buys the property for $120,000, then sells it for $125,000. Which
statement is FALSE? - Answer -This is legal as long as the broker withdraws from the
listing first.
A woman has Homesteaded her residence. Her home has assessed value of $279,000.
She is a non-veteran who is totally and permanently disabled as a result of a serious car
accident. She's also legally blind what is her cumulative county tax exemption on her
Homesteaded residence? - Answer -$51,000
The duties of a real estate licensee, ode to a buyer or seller who engages the real
estate licensee as a single agent, do NOT include - Answer -Limited confidentiality,
unless waived in writing by a party.
Which savings association is federally chartered? - Answer -Federal savings
association
A sales associate who is employed by an owner - developer who owns properties in the
name of various entities may be issued - Answer -A group license
A tenant signed a 10 year lease requiring a monthly basis range of $1900, +2% of all
monthly gross sales volume over $95,000. The tenant also must pay all property taxes,
insurance, and other costs normally considered property owners costs. This is a -
Answer -Net lease.
A real estate license may be revoked without prejudice for which action? - Answer -
Issuance of a license by mistake of the commission.
A brokers license was involuntary inactive for two years and one month. To operate
again as an active licensee, the broker must complete - Answer -FREC course I and
pass the Sales Associate licensee exam.
A man successfully negotiated and was paid for the sale of a Federal Communications
Commission license for television station. He is not a licensed real estate broker or
sales associate. The Man - Answer -Has not violated F.S. 475.
Which statement concerning characteristics of a real estate market is FALSE? -
Answer -The real estate market is organized and controlled centrally.
