FLORIDA REAL ESTATE STUDY GUIDE 100% CORRECT!!
1. A license sales associate decides to have personalized key rings made. Which
statement is TRUE regarding the key rings?
A) The associate's name must be printed on the key ring
B) The key ring must include the associate's phone number
C) The name on the real estate brokerage firm for which the associate works must
be printed on the key ring
D) The key ring must include the associate's license number
Correct Answer: C) The name on the real estate brokerage firm for which the
associate works must be printed on the key ring
2. What is the description of the township located due south of T3N, R2W?
A) T4N, R2W
B) T3S, R2W
C) T3N, R1W
D) T2N, R2W
Correct Answer: C) T3N, R1W
3. A federal law prohibiting any contract, trust, or conspiracy in restraint of
interstate or foreign trade is known as?
A) Clayton Antitrust Act
B) Federal Trade Commission Act
C) Sherman Antitrust Act
D) Robinson-Patman Act
Correct Answer: C) Sherman Antitrust Act
, 4. An opinion of real estate value commissioned by a bank or an attorney and
provided by a broker is known as?
A) Broker's Market Analysis (BMA)
B) Broker's Opinion of Value (BOV)
C) Comparative Market Analysis (CMA)
D) Broker's Price Opinion (BPO)
Correct Answer: D) Broker's Price Opinion (BPO)
5. What action will be taken against a broker's license when a claim NOT
associated with an escrow disbursement order is paid from the Real Estate
Recovery Fund?
A) License revocation
B) License suspension until the licensee has reimbursed the fund, including interest
C) No action is taken
D) A fine is imposed
Correct Answer: B) License suspension until the licensee has reimbursed the fund,
including interest
6. What must a prospective buyer of an existing resale receive?
A) Recent appraisal report
B) Home inspection report
C) Recent year-end financial report
D) Title insurance
Correct Answer: C) Recent year-end financial report
7. The Truth in Lending Act (TILA) protects you against inaccurate and unfair
credit billing and credit card practices. It requires lenders to provide you with loan
1. A license sales associate decides to have personalized key rings made. Which
statement is TRUE regarding the key rings?
A) The associate's name must be printed on the key ring
B) The key ring must include the associate's phone number
C) The name on the real estate brokerage firm for which the associate works must
be printed on the key ring
D) The key ring must include the associate's license number
Correct Answer: C) The name on the real estate brokerage firm for which the
associate works must be printed on the key ring
2. What is the description of the township located due south of T3N, R2W?
A) T4N, R2W
B) T3S, R2W
C) T3N, R1W
D) T2N, R2W
Correct Answer: C) T3N, R1W
3. A federal law prohibiting any contract, trust, or conspiracy in restraint of
interstate or foreign trade is known as?
A) Clayton Antitrust Act
B) Federal Trade Commission Act
C) Sherman Antitrust Act
D) Robinson-Patman Act
Correct Answer: C) Sherman Antitrust Act
, 4. An opinion of real estate value commissioned by a bank or an attorney and
provided by a broker is known as?
A) Broker's Market Analysis (BMA)
B) Broker's Opinion of Value (BOV)
C) Comparative Market Analysis (CMA)
D) Broker's Price Opinion (BPO)
Correct Answer: D) Broker's Price Opinion (BPO)
5. What action will be taken against a broker's license when a claim NOT
associated with an escrow disbursement order is paid from the Real Estate
Recovery Fund?
A) License revocation
B) License suspension until the licensee has reimbursed the fund, including interest
C) No action is taken
D) A fine is imposed
Correct Answer: B) License suspension until the licensee has reimbursed the fund,
including interest
6. What must a prospective buyer of an existing resale receive?
A) Recent appraisal report
B) Home inspection report
C) Recent year-end financial report
D) Title insurance
Correct Answer: C) Recent year-end financial report
7. The Truth in Lending Act (TILA) protects you against inaccurate and unfair
credit billing and credit card practices. It requires lenders to provide you with loan
