State Exam FLORIDA REAL ESTATE QUESTION AND ANSWERS 100% VERIFIED

When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate - Answer- the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs Which of the following is true regarding the Florida RE commission? - Answer- Two members do not have to have a Florida Real Estate license The Fair Housing Act prohibits discrimination based on - Answer- Race, color, religion, national origin, sex, familial status, handicap A piece of property that is 400 feet by 325 feet is - Answer- 3 acres The truth in lending act - Answer- gives a consumer the right to rescind a mortgage secured by his homestead Who can renew their initial Florida real estate license without post license education? - Answer- A person that graduated with a university with a 4 year degree in real estate Which of the following words are synonyms? - Answer- vendor-seller If an adult enters into a contract with a child - Answer- this contract can be enforced in a court by the child Price Fixing is - Answer- a violation of Sherman-clayton antitrust law In a joint tenancy - Answer- has the right of survivorship and owners acquire interest at the same time An expressed contract - Answer- is unambiguous To become the chairman of the Florida Real Estate Commission - Answer- a member is elected by his or her peers A florida Real Estate license - Answer- has an expiration date on it, expires biennially, serves as prima facie evidence that the holder is properly licensed Florida Real estate licensee cannot promise to re-purchase property back in the future unless - Answer- a guaranteed re-purchae agreement has been approved by the state of florida A florida real estate salesman must turn escrow money over to his broker - Answer- before the end of the business day following the day he received the money A florida real estate broker can have - Answer- an interest bearing escrow account Which of the following would a buyer certainly not get at closing - Answer- certificate of title When the gov. exercises the power of eminent domain, which of the following statements is NOT true - Answer- Homestead will protect a widow from eminent domain