FLORIDA REAL ESTATE STATE STUDY EXAM QUESTIONS AND ANSWERS

FLORIDA REAL ESTATE STATE STUDY
EXAM QUESTIONS AND ANSWERS


The best protection that the public has during a Real Estate trans
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action is (are) k k




A. The national and state association of REALTORS
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B. The punishment of licensees dealing dishonesty
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C. the high ethical standards of real estate agents
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D. FREC and the license law - CORRECT ANSWER-
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D. FREC and the license law
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A group license
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A. allows a broker to have a branch office
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B. allows a sales associate to work for more than one broker
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C. may be held by a sale associate or broker associate
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D.allows a broker to qualify more than one broker firm -
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CORRECT ANSWER-
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C. may be held by a sale associate or broker
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The following are exempt from F.S. 475 EXCEPT
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A. Trustees for an estate
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B. Personal representatives for an estate
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C. Mortgage brokers engaged in financing activities.
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D. Business Brokers - CORRECT ANSWER-
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D. Business Brokers
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General Partners in a brokerage partnership that are not qualified
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to perform the services of real estate must be registered as for w
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hat? - CORRECT ANSWER-For Identification Purposes
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, Which brokerage disclosure notice must be signed or initialed by t
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he buyer or seller before implementation? -
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CORRECT ANSWER-Transition to Transaction
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When a seller is about to enter a fiduciary relationship with a brok
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erage firm what must be given? - CORRECT ANSWER-
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Single Agency Notice k k




A broker owes which duty to a customer? What should he disclos
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e? - CORRECT ANSWER-
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Known Facts affecting the value of the residential property
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Sale associate works for a broker and receives an escrow deposit
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when should he deliver it? - CORRECT ANSWER-
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To his broker immediately (next business day)
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Listings obtained by a sales associate become property of whom
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? - CORRECT ANSWER-Employing broker
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Jim failed his state exam twice and believes some of the question
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s that he answered were indeed correct. He can write a written ob
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ligation for consideration for the questions to whom? -
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kCORRECT ANSWER-FREC Validation Committee k k k




Which Florida law prohibits a lender from refinancing a loan to the
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same borrower within the first 18 months of making a loan, if doin
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g so does NOT reasonably benefit the borrower -
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CORRECT ANSWER-Florida Fair Lending Act
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When there is a dispute over escrow funds, the procedures includ
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e four choices. Which choice involves a third person recommendi
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ng a solution?
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A. Arbitration
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B. Mediation
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C. Litigation
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D. Escrow Disbursement Order - CORRECT ANSWER-
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B. Mediation
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