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1. Property management in the real estate business has gained popularity and importance due to - ANSWERSthe growth in absentee ownership. 2. A licensee may substitute attendance at one legal agenda session of the FREC for - ANSWERSthree hours of continuing education credit. 3. Since performing a broker price opinion or comparative market analysis constitutes real estate brokerage activity, the compensation collected in connection with that activity must be paid to the - ANSWERSsales associ...

1. When must a written no brokerage relationship notice be provided to customers? - ANSWERSBefore showing homes that are listed. 2. Which of the following can not be used by the federal reserve to change or control the money supply? - ANSWERSAfter income tax rates 3. A broker has an exclusive right of sale listing to sell an owner's property, with no other authority granted. What type of agency does the broker have with the principal? - ANSWERSSpecial agency 4. A licensee is being di...

A single person dies without a will. After a period of time, the State of Florida obtained title to the property of the deceased person. What power entitled the state government to acquire the deceased person's property? - ANSWERSEscheat A woman has six months remaining on her lease. She assigns two of the remaining months to another person to use the property while she is on vacation in Europe. What is this called? - ANSWERSSublease The mortgagor's title insurance policy is issued f...

Number of days to notify the DBPR regarding a change of business address or a change in current mailing address. - ANSWERS10 days Number of days a sales associate, broker associate, or an instructor has to notify the FREC of a change of employer? - ANSWERS10 day Grace period after discharge from military duty to renew license? - ANSWERS6 months Time period after which involuntary inactive license becomes null and void. - ANSWERS2 years Period required to retain brokerage relationship...

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? - ANSWERSThe broker is required to be a state-certified appraiser to perform this appraisal assignment. Leasehold estate do NOT include - ANSWERSA remainder estate. The Florida Real Estate Commission must notify which agency when it takes disciplinary action against any of the agency's licensees? - ANSWERSDivision of Fl...

Sales Associate License Qualifications (F.S. 475.17) - ANSWERS-18 Years of Age -High school diploma -Honest, Trustworthy, of good character and have a reputation for fair dealing -Does NOT have to be a Florida resident or U.S. citizent Custom Building - ANSWERSBuilding to the owner's specifications. Farming - ANSWERSSpecializing in one type or style of property, or in a particular neighborhood. Appraising - ANSWERSThe art of estimating value of property, where the fee is based on...

equity – ANSWERS the difference between the value of a property and the total amount of liens against it is known as operating expenses – ANSWERS in order for a property manager to determine net operating income on a property, what fees are subtracted from the effective gross income? recommend that the buyer insert an inspection contingency in the purchase agreement - ANSWERSif a prospective buyer is concerned about the electric service on a property, the buyer's licensee SHOUL...

1. Brokerage definition... - ANSWERSthe business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - ANSWERSschools and cemetary 3. What is an example of functional obsolescence? - ANSWERSbathroom 4. Principal definition... - ANSWERSa consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... - ANSWERSthe process of determi...

A freehold estate is __________. - ANSWERSAn estate of uncertain duration a person who owns an undivided interest in land with at least one other, and has the right of survivorship, is said to be a(n) __________. - ANSWERSJoint tenant Dower rights are rights that assure that's __________. - ANSWERSDowagers may have property rights As used in real estate practices, the land of a riparian owner borders on: __________. - ANSWERSA river, a stream, or a watercourse Governmental land us...

Brokerage Fee on closing disclosure - ANSWERSdebit seller only; page 2 Accrued depreciation using the age-life method - ANSWERSNever depreciate a land, Sales Price, Appraisal, Survey, Title Insurance, Tangible Tax, Stamp Tax, = Add those, Don't add any Land Value. Only Building. Multiply say 80% building (20% Land) Residential Income producing property 27.5 years life for investment property, Non residential 39 years, so divide by years, = Answers capital gains taxes on this sale - ANSW...