FLORIDA REAL ESTATE LICENSE EXAM |
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
,Acceptance Voluntary receipt of an item offered by another.
Accretion Gradual addition of land caused by natural forces, such as wind, tide, flood, or
watercourse deposits.
Acknowledgment Formal declaration before an authorized official, by the person who executed the
instrument, that it is a free act.
Actual notice Information a person has actually learned by reading, seeing, or hearing.
Adjudication A judicial or court decision.
Adjustable-rate mortgage (ARM) A financing technique in which the lender can raise or lower the interest rate according to
a set index.
Adjusted basis The owner's original cost plus buying expenses plus capital improvements.
Administrative law judge An attorney employed by the Division of Administrative Hearings, Department of
Administration, to hear complaints and issue recommended orders.
Ad valorem According to the value; in proportion to worth.
Advance fees Up-front money collected by a broker for the listing of real property.
Adversary Opponent; a person or group that opposes another.
Adverse interest A purpose in opposition to the interest of another party (as, for example, with a buyer
and a seller).
Adverse possession A method of obtaining title to real property by occupying it in an open and hostile
manner contrary to the interests of the owner.
Affidavit A sworn statement written down before a notary or public official.
Agency Express or implied authorization for one person to act for another.
,Agent A representative; one who is authorized to act on behalf of another.
Agricultural Defined in Chapter 475, F.S., to mean property zoned as such, consisting of more than ten
acres.
Air rights The freedom to use the open space above a property.
Alienation The act of transferring ownership, title, or an interest or estate in real property.
Allodial system A theory of land ownership that individuals may own land free of the rights of an
overlord.
Alluvion (alluvium) The increase of land by the gradual and imperceptible action of natural forces (e.g.,
deposits of sand and mud on a riverbank).
Amortized mortgage A loan characterized by payment of a debt by regular installment payments.
Anniversary date Recurring each year; the date an insurance policy must be renewed to continue in effect.
Annual debt service The amount of money required each year for the payment of all mortgage interest and
principal.
Annual percentage rate (APR) Total yearly cost of credit.
Appeal A request to some authority for a decision or judgment.
Applicant A person who applies for something; a candidate.
Appraisal Professional service provided by a registered, licensed, or certified appraiser or real
estate licensee to produce an estimate of value.
Appraisal plant Copies of current statistics and publications kept by appraisers in their library or record
room.
Appraised value Estimated worth of a property determined by someone qualified in valuation
, Appraiser, real estate One who is a registered, licensed, or certified by the DBPR and provides an estimate of
value.
Appreciation An increase in value.
Arbitration The act of having a third party render a binding decision in a dispute between two
parties.
Arrears The state of being behind in the discharge of an obligation; paid at the end of the period
for which due (the opposite of in advance).
Assemblage The combining of two or more adjoining properties into one tract.
Assessed value Worth established for each unit of real property for tax purposes by a county property
appraiser.
Assessment The imposition of a tax or charge according to a preset rate; the allocation of the
proportionate individual share of a common expense in a condo or co-op building.
Asset Anything of value.
Assignee Person to whom a right or interest is transferred.
Assignment Written instrument that serves to transfer the rights or interests of one person to another.
Assignment of mortgage A legal instrument that states that the mortgagee assigns (transfers) the mortgage and
promissory note to the purchaser.
Assignor Person who gives his or her legal rights or interests to another person.
Associate Person working for a broker.
Association An organization of persons having a common interest.
Assumption of mortgage The taking over of an existing mortgage by a buyer.
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
,Acceptance Voluntary receipt of an item offered by another.
Accretion Gradual addition of land caused by natural forces, such as wind, tide, flood, or
watercourse deposits.
Acknowledgment Formal declaration before an authorized official, by the person who executed the
instrument, that it is a free act.
Actual notice Information a person has actually learned by reading, seeing, or hearing.
Adjudication A judicial or court decision.
Adjustable-rate mortgage (ARM) A financing technique in which the lender can raise or lower the interest rate according to
a set index.
Adjusted basis The owner's original cost plus buying expenses plus capital improvements.
Administrative law judge An attorney employed by the Division of Administrative Hearings, Department of
Administration, to hear complaints and issue recommended orders.
Ad valorem According to the value; in proportion to worth.
Advance fees Up-front money collected by a broker for the listing of real property.
Adversary Opponent; a person or group that opposes another.
Adverse interest A purpose in opposition to the interest of another party (as, for example, with a buyer
and a seller).
Adverse possession A method of obtaining title to real property by occupying it in an open and hostile
manner contrary to the interests of the owner.
Affidavit A sworn statement written down before a notary or public official.
Agency Express or implied authorization for one person to act for another.
,Agent A representative; one who is authorized to act on behalf of another.
Agricultural Defined in Chapter 475, F.S., to mean property zoned as such, consisting of more than ten
acres.
Air rights The freedom to use the open space above a property.
Alienation The act of transferring ownership, title, or an interest or estate in real property.
Allodial system A theory of land ownership that individuals may own land free of the rights of an
overlord.
Alluvion (alluvium) The increase of land by the gradual and imperceptible action of natural forces (e.g.,
deposits of sand and mud on a riverbank).
Amortized mortgage A loan characterized by payment of a debt by regular installment payments.
Anniversary date Recurring each year; the date an insurance policy must be renewed to continue in effect.
Annual debt service The amount of money required each year for the payment of all mortgage interest and
principal.
Annual percentage rate (APR) Total yearly cost of credit.
Appeal A request to some authority for a decision or judgment.
Applicant A person who applies for something; a candidate.
Appraisal Professional service provided by a registered, licensed, or certified appraiser or real
estate licensee to produce an estimate of value.
Appraisal plant Copies of current statistics and publications kept by appraisers in their library or record
room.
Appraised value Estimated worth of a property determined by someone qualified in valuation
, Appraiser, real estate One who is a registered, licensed, or certified by the DBPR and provides an estimate of
value.
Appreciation An increase in value.
Arbitration The act of having a third party render a binding decision in a dispute between two
parties.
Arrears The state of being behind in the discharge of an obligation; paid at the end of the period
for which due (the opposite of in advance).
Assemblage The combining of two or more adjoining properties into one tract.
Assessed value Worth established for each unit of real property for tax purposes by a county property
appraiser.
Assessment The imposition of a tax or charge according to a preset rate; the allocation of the
proportionate individual share of a common expense in a condo or co-op building.
Asset Anything of value.
Assignee Person to whom a right or interest is transferred.
Assignment Written instrument that serves to transfer the rights or interests of one person to another.
Assignment of mortgage A legal instrument that states that the mortgagee assigns (transfers) the mortgage and
promissory note to the purchaser.
Assignor Person who gives his or her legal rights or interests to another person.
Associate Person working for a broker.
Association An organization of persons having a common interest.
Assumption of mortgage The taking over of an existing mortgage by a buyer.
