Florida Real Estate 2024 Questions and Answers 100% Pass

Florida Real Estate 2024 Questions and Answers 100% Pass Brokers who list and sell smaller businesses are - Correct Answer ️️ -business opportunity brokers. Before roadbuilding begins, a developer must submit a document to the local planning board for approval. The document is called a - Correct Answer ️️ -subdivision plat map. Investors who don't live on the properties they own are - Correct Answer ️️ -absentee owners. Real estate specialists who sell properties close to airports, seaports, and rail sidings work in which sector of the real estate business? - Correct Answer ️️ -Industrial The field of real estate that requires knowledge of financial statements for investment properties, traffic counts, and types of nonresidential property financing is - Correct Answer ️️ -commercial. A real estate licensee who works a "farm area" is usually involved in - Correct Answer ️️ -residential sales and listings. A person who takes applications for a mortgage loan must - Correct Answer ️️ -be licensed as a loan originator by the Florida Office of Financial Regulation. Approximately what percentage of the country's wealth is related to real estate? - Correct Answer ️️ -75 When a developer deeds the streets and easements to the county government for future maintenance, it is called - Correct Answer ️️ -dedication. When making appraisals, real estate licensees must conform to - Correct Answer ️️ - the Uniform Standards of Professional Appraisal Practice (USPAP). A sales associate who researches the sale prices of properties that sold will learn - Correct Answer ️️ -what the house should appraise for. When a builder builds a house for a specific customer, it is - Correct Answer ️️ - custom building. The most common valuation process used by brokers and sales associates is the preparation of - Correct Answer ️️ -a comparative market analysis (CMA). A bank appraisal must be made by - Correct Answer ️️ -a state-certified or licensed appraiser. A broker who prepares a CMA - Correct Answer ️️ -can charge a fee for the service. The Florida Real Estate Commission is - Correct Answer ️️ -a consumer protection agency. Which part of Chapter 475 establishes the Florida Real Estate Commission? - Correct Answer ️️ -Part I A broker's license will become void when the first license expires unless the broker has - Correct Answer ️️ -completed at least 60 hours of broker post-licensing courses. The problem with the Florida Real Estate License law that was passed in 1923 was that - Correct Answer ️️ -it did not establish an enforcement body. Applicants for a real estate license must have a - Correct Answer ️️ -United States Social Security number. Which is NOT a part of the 14-hour continuing education requirement for brokers and sales associates? - Correct Answer ️️ -Property management Which is NOT a service that requires a real estate license? - Correct Answer ️️ - Originate mortgages Broker applicants must have worked under a broker in any state for at least - Correct Answer ️️ -two years. A man who deals in real property is NOT exempt from having a real estate license if he - Correct Answer ️️ -performs one of the eight services of real estate for another for compensation. The unlicensed practice of real estate is a - Correct Answer ️️ -third degree felony. The maximum fine that can be levied by the DBPR for each offense is - Correct Answer ️️ -$5,000. Which licensee is qualified to be a broker, but has decided to work under the supervision of another broker or an owner developer? - Correct Answer ️️ -A broker associate What is the maximum number of days the DBPR has to review the information in an license application? - Correct Answer ️️ -90 days. "Let the buyer beware" was the public's image of real estate brokers before the state set up the Florida Real Estate Commission. The Latin term is - Correct Answer ️️ -caveat emptor. The Department that enforces the law against persons who practice a profession without having a license is the - Correct Answer ️️ -Department of Business and Professional Regulation (DBPR). Which is NOT one of the divisions in the Department of Business and Professional Regulation? - Correct Answer ️️ -Division of Internet Operations The license of a veteran sales associate expired March 31 last year. This year in June, she wants to renew her license. She must pay a late fee, pay the renew