Florida Real Estate Exam Study Questions and Answers

The _______________________ determines monetary policy in the U. S. by controlling the availability of money. Federal Reserve System The Homestead Act was passed primarily to exempt property from forced sale A sales associate authorized to negotiate a sale of property has the authority to work under the direction of a broker or in some cases an owner-developer The sales specialty that involves the knowledge of regulated land use, environmental considerations, transportation, labor costs and utility charges is industrial A real estate agent's trade association that requires raising the professional and ethical standards of their members is the National Association of Realtors. Property management customarily includes all these but representation of the tenant Property management in the real estate business has gained popularity and importance due to the growth in absentee ownership. The sales associate who can explain property taxes and homestead exemptions, in addition to helping prospective buyers obtain financing, is a residential specialist A sales associate with ABC Realty was contacted by Big Bank to do a Broker Price Opinion (BPO). Since the fee for this was small, the bank paid the salesperson directly. This situation is illegal, since sales associate violated Chapter 475, F.S. The product that all real estate professionals sell is their expert knowledge Which area of real estate requires the highest degree of expertise? Counseling A licensed appraiser is compensated for an appraisal with a flat fee Sales associates who fail to complete the post-licensing education requirement after 24 months and want to continue in the real estate business are required to requalify for licensure by repeating the pre-licensure class, passing the end-of-course examination, and passing the state licensure examination.