Florida Real Estate Exam Questions
WITH Correct Answers 100% PASS
Linda purchases property in Escambia County from Susan. Linda has $30,000.00
as a down payment and gets a mortgage in the amount of $150,000.00 and there is
no other consideration for the transfer. How much will the doc stamp tax on the
deed be?
1) $1,050.00
2) $1,260.00
3) $630.00
4) $525.00 - CORRECT ANSWER-$1,260.00
Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x
$0.70 = $1260.00 tax due.
,Heather has been using a roadway at the back of the 22 acres Pam owns. She has
been driving down the roadway almost every day without permission for over 20
years. This is called what?
1) easement appurtenant.
2) easement by prescription.
3) easement in gross.
4) easement by necessity. - CORRECT ANSWER-2) easement by prescription
When purchasing an existing condominium, the buyer must receive which of the
following?
1) Annual operating budget
2) A prospectus
3) Rules and Regulations
4) Articles of incorporation of the association - CORRECT ANSWER-4) Articles
of incorporation of the association
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,Todd is an 89-year-old veteran that is legally blind and partially disabled due to
injuries he sustained in the military. His home has an assessed value of $150,500.
How much will his taxable value be for county taxes?
1) $55,500
2) $95,000
3) $100,500
4) $110,000 - CORRECT ANSWER-2) $95,000
A contract for deed is also called what?
1) Deed in lieu of foreclosure
2) Land Contract
3) Novation
4) Sales Contract - CORRECT ANSWER-2) Land Contract
The cost of borrowing money is called what?
1) Interest
2) Leverage
3) Capitol
4) Credit - CORRECT ANSWER-1) Interest
, Sally is buying a home and the closing date is set for April 20th. The annual
property taxes are $1234.00 and have not been paid yet. How much will the buyer
be credited and the seller be debited?
1) $371.80
2) $368.51
3) $375.18
4) $370.36 - CORRECT ANSWER-$368.51
Step 1: Find the daily rate; property taxes for the year ($1234.00) / 365 days =
$3.38; Step 2: Seller will credit buyer from January through midnight the day before
closing. Calculate the exact number of days; January 31 + February 28 + March 31
+ April 19 = 109 days; Step 3: Multiply the daily rate ($3.3808219178) x Number
of days (109) = $368.51
A Landlord has how many days to return a tenants security deposit if not making a
claim on the deposit?
1) 10
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
WITH Correct Answers 100% PASS
Linda purchases property in Escambia County from Susan. Linda has $30,000.00
as a down payment and gets a mortgage in the amount of $150,000.00 and there is
no other consideration for the transfer. How much will the doc stamp tax on the
deed be?
1) $1,050.00
2) $1,260.00
3) $630.00
4) $525.00 - CORRECT ANSWER-$1,260.00
Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x
$0.70 = $1260.00 tax due.
,Heather has been using a roadway at the back of the 22 acres Pam owns. She has
been driving down the roadway almost every day without permission for over 20
years. This is called what?
1) easement appurtenant.
2) easement by prescription.
3) easement in gross.
4) easement by necessity. - CORRECT ANSWER-2) easement by prescription
When purchasing an existing condominium, the buyer must receive which of the
following?
1) Annual operating budget
2) A prospectus
3) Rules and Regulations
4) Articles of incorporation of the association - CORRECT ANSWER-4) Articles
of incorporation of the association
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
,Todd is an 89-year-old veteran that is legally blind and partially disabled due to
injuries he sustained in the military. His home has an assessed value of $150,500.
How much will his taxable value be for county taxes?
1) $55,500
2) $95,000
3) $100,500
4) $110,000 - CORRECT ANSWER-2) $95,000
A contract for deed is also called what?
1) Deed in lieu of foreclosure
2) Land Contract
3) Novation
4) Sales Contract - CORRECT ANSWER-2) Land Contract
The cost of borrowing money is called what?
1) Interest
2) Leverage
3) Capitol
4) Credit - CORRECT ANSWER-1) Interest
, Sally is buying a home and the closing date is set for April 20th. The annual
property taxes are $1234.00 and have not been paid yet. How much will the buyer
be credited and the seller be debited?
1) $371.80
2) $368.51
3) $375.18
4) $370.36 - CORRECT ANSWER-$368.51
Step 1: Find the daily rate; property taxes for the year ($1234.00) / 365 days =
$3.38; Step 2: Seller will credit buyer from January through midnight the day before
closing. Calculate the exact number of days; January 31 + February 28 + March 31
+ April 19 = 109 days; Step 3: Multiply the daily rate ($3.3808219178) x Number
of days (109) = $368.51
A Landlord has how many days to return a tenants security deposit if not making a
claim on the deposit?
1) 10
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
