FREC 1 UPDATED ACTUAL Questions And Correct Answers
C
Terms in this set (100)
A real estate company represents a motel owner who To refuse to sell or lease any real property based on a party's race is a violation of
wishes to list one of his motels for sale. The owner has the federal Civil Rights Act of 1866. (Unit 7)
told the listing agent that he does not want to sell the
motel to any racial minorities. Which statement is TRUE?
A real estate brokerage company is a transaction broker No one. (Unit 4)
for a buyer. The buyer wants to purchase a new home so
the sales associate takes him to three model centers
listed by three competing real estate companies. The
sales associate must give a written no brokerage
relationship notice to
Which individual is exempt from the continuing education Real estate licensee who is also a Florida-licensed attorney
requirement?
A lender quotes a mortgage loan of $265,000 at 4.5% $350.28 (Unit 13)
interest. The monthly payment is $1,342.72. How much of
the second monthly payment will apply to the principal
reduction?
A real estate broker is accused of taking money from the Voluntary relinquishment for permanent revocation (Unit 6)
company escrow account to pay personal expenses. The
broker decides that she does not want to go through the
hearing process so the broker turns over her real estate
license to the DBPR. What term describes this situation?
Which clause is included in a mortgage to prevent a Due-on-sale clause (Unit 12)
subsequent buyer from assuming an existing mortgage
loan?
An example of an ad valorem tax is a property tax. (Unit 18)
, Which action is NOT a requirement under TILA-RESPA? Give mortgage applicant a list of competing lenders so that the consumer can
comparison shop for the best rate
(Unit 13)
Requirements:
Give a copy of the special information booklet to the mortgage applicant within
three business days
Give mortgage applicant the loan estimate disclosure within three business days
Give the mortgage applicant a closing disclosure at least three business days
before closing
Individuals who solicit mortgage loans, accept loan originators. (Unit 13)
applications for mortgage loans, and negotiate the terms
of new mortgage loans on behalf of a borrower are
called mortgage
Which valuation assignment is exempt from USPAP Broker's price opinion prepared for a lender concerning a short sale (Unit 1)
requirements?
A comparable property has one more bedroom ($8,000) minus $10,000 to the comparable property. (Unit 16)
and is on a slightly larger lot ($2,000) than the subject
property. The comparative market analysis requires a net
adjustment of
What authority originates from the U.S. Constitution and Police power (Unit 9)
relates to protection of health and welfare of citizens at
local levels?
Requirements of a valid deed do NOT include signature of a competent grantee.
Include:
voluntary delivery and acceptance.
good or valuable consideration.
signature of two witnesses.
(Unit 9)
Local government exercises its greatest effect on the real using zoning, taxation, and the planning process. (Unit 9)
estate business by
C
Terms in this set (100)
A real estate company represents a motel owner who To refuse to sell or lease any real property based on a party's race is a violation of
wishes to list one of his motels for sale. The owner has the federal Civil Rights Act of 1866. (Unit 7)
told the listing agent that he does not want to sell the
motel to any racial minorities. Which statement is TRUE?
A real estate brokerage company is a transaction broker No one. (Unit 4)
for a buyer. The buyer wants to purchase a new home so
the sales associate takes him to three model centers
listed by three competing real estate companies. The
sales associate must give a written no brokerage
relationship notice to
Which individual is exempt from the continuing education Real estate licensee who is also a Florida-licensed attorney
requirement?
A lender quotes a mortgage loan of $265,000 at 4.5% $350.28 (Unit 13)
interest. The monthly payment is $1,342.72. How much of
the second monthly payment will apply to the principal
reduction?
A real estate broker is accused of taking money from the Voluntary relinquishment for permanent revocation (Unit 6)
company escrow account to pay personal expenses. The
broker decides that she does not want to go through the
hearing process so the broker turns over her real estate
license to the DBPR. What term describes this situation?
Which clause is included in a mortgage to prevent a Due-on-sale clause (Unit 12)
subsequent buyer from assuming an existing mortgage
loan?
An example of an ad valorem tax is a property tax. (Unit 18)
, Which action is NOT a requirement under TILA-RESPA? Give mortgage applicant a list of competing lenders so that the consumer can
comparison shop for the best rate
(Unit 13)
Requirements:
Give a copy of the special information booklet to the mortgage applicant within
three business days
Give mortgage applicant the loan estimate disclosure within three business days
Give the mortgage applicant a closing disclosure at least three business days
before closing
Individuals who solicit mortgage loans, accept loan originators. (Unit 13)
applications for mortgage loans, and negotiate the terms
of new mortgage loans on behalf of a borrower are
called mortgage
Which valuation assignment is exempt from USPAP Broker's price opinion prepared for a lender concerning a short sale (Unit 1)
requirements?
A comparable property has one more bedroom ($8,000) minus $10,000 to the comparable property. (Unit 16)
and is on a slightly larger lot ($2,000) than the subject
property. The comparative market analysis requires a net
adjustment of
What authority originates from the U.S. Constitution and Police power (Unit 9)
relates to protection of health and welfare of citizens at
local levels?
Requirements of a valid deed do NOT include signature of a competent grantee.
Include:
voluntary delivery and acceptance.
good or valuable consideration.
signature of two witnesses.
(Unit 9)
Local government exercises its greatest effect on the real using zoning, taxation, and the planning process. (Unit 9)
estate business by
