FLORIDA REAL ESTATE U STUDY GUIDE EXAM ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS

FLORIDA REAL ESTATE U STUDY GUIDE EXAM ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS An organization with at least one real estate broker acting as the agent for others in negotiating the sale or rental of real property for a fee is known as a/an? - Real estate brokerage What is a home built from blueprints supplied by the buyer is called? - A custom home Why is there a high demand for property managers in Florida? - Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an? - Appraiser What is dedication? - Giving up private land for public use An appraisal can be completed by? - A licensed appraiser using USPAP standards MLS is an acronym for? - Multiple Listing System What is a BPO? - Broker Price Opinion What is the meaning of Caveat Emptor? - Buyer Beware What is the difference between a Broker Associate and a Broker? - A Broker Associate has passed the Broker exam but chooses to work for a Broker Which Organization approves the Sales Associate and Broker License Applications? - DBPR What is a newly licensed person working for a broker known as? - A Sales Associate What is the pre-licensing education requirement for a Broker? - 72 hours