Florida Real Estate Exam 2025 Latest
update Correct 100%
Township - ANSWER A square 6 miles on each side (6 miles square) containing 36
square miles (36 sections); also an (east-west) strip of land north and south of a
baseline (tier).
Section - ANSWER A square 1 mile on each side (1 mile square) containing 1 square
mile (640 acres).
Quarter Section - ANSWER One-fourth of a square mile-or 160 acres- of publicly owned
land.
Government lot - ANSWER Fractional piece of land less than a quarter section resulting
from geographical features (e.g., lakes, streams) interfering with land surveying. They
become specific lot numbers
Riparian Rights - ANSWER An owner's rights in land that borders on or includes a
stream, river, or lake. These rights include access to and use of the water.
Littoral Rights - ANSWER The right of a property owner whose land borders on a body
of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore
and water the property borders on.
External Obsolescence - ANSWER loss of value due to factors beyond the property
boundaries
Binder Deposit - ANSWER credit to the buyer
How many sections in a township - ANSWER 36
Joint Tenants - ANSWER undivided ownership and right of survivorship goes to the
surviving owner. Never the heirs
FHA Loans - ANSWER Federally insured loan (insurance)
VA Loans - ANSWER Govt guaranteed loans
intangible tax - ANSWER debit buyer only -- tax on the mortgage
tenancy in common - ANSWER Co-ownership of property in which each party owns an
undivided interest that passes to his or her heirs at death.
, Deeds are valid when - ANSWER They are voluntarily delivered and accepted. Does
NOT need to be recorded
Covenant of Seisin - ANSWER Grantor has ownership of property and has a right to sell
it
When selling a rental listing the customer gets a refund on which terms - ANSWER
within 30 days regardless of reason for 75%, if there is a mistake 100%
What economic indicator adjusts in an adjustable rate mortgage - ANSWER index
Estate for years - ANSWER Lease for a definite period of time
USPAP - ANSWER Uniform Standards of Professional Appraisal Practice
Which of the following is a set of administrative rules developed by the FREC, (Florida
Real Estate Commission)? - ANSWER Chapter 61j2
How is the intangible tax typically noted on the Closing Disclosure Statement? -
ANSWER Buyer debit only - - Tax on a new mortgage
Easement in Gross - ANSWER easement for the use of utlities
Easement by Prescription - ANSWER Created through continual use over a certain
period of time. It must be continual, visible, & w/o approval. Example - a private road
becomes public.
Easement by necessity - ANSWER Right of access to a landlocked parcel
Partial Release Clause - ANSWER A part of a mortgage, which provides for the release
of part of the property (used as security in the loan) upon payment of a certain amount
of the mortgage. Blanket mortgage.
Blanket Mortgage - ANSWER A mortgage which covers more than one piece of real
estate. Often used by a developer in the financing of undeveloped lots. Contains a
partial release clause.
Rental List - ANSWER First degree misdemeanor
How do you find the value of a property, (sales price) if you have been given the
capitalization rate and the net operating income? - ANSWER The formula is the net
operating income divided by the capitalization rate
Who are the FREC comprised of - ANSWER There are seven members of the FREC.
Four are brokers that have been brokers for at least five years, one is any of the three
types of licensee, and two are consumers also called civilians or laymen
update Correct 100%
Township - ANSWER A square 6 miles on each side (6 miles square) containing 36
square miles (36 sections); also an (east-west) strip of land north and south of a
baseline (tier).
Section - ANSWER A square 1 mile on each side (1 mile square) containing 1 square
mile (640 acres).
Quarter Section - ANSWER One-fourth of a square mile-or 160 acres- of publicly owned
land.
Government lot - ANSWER Fractional piece of land less than a quarter section resulting
from geographical features (e.g., lakes, streams) interfering with land surveying. They
become specific lot numbers
Riparian Rights - ANSWER An owner's rights in land that borders on or includes a
stream, river, or lake. These rights include access to and use of the water.
Littoral Rights - ANSWER The right of a property owner whose land borders on a body
of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore
and water the property borders on.
External Obsolescence - ANSWER loss of value due to factors beyond the property
boundaries
Binder Deposit - ANSWER credit to the buyer
How many sections in a township - ANSWER 36
Joint Tenants - ANSWER undivided ownership and right of survivorship goes to the
surviving owner. Never the heirs
FHA Loans - ANSWER Federally insured loan (insurance)
VA Loans - ANSWER Govt guaranteed loans
intangible tax - ANSWER debit buyer only -- tax on the mortgage
tenancy in common - ANSWER Co-ownership of property in which each party owns an
undivided interest that passes to his or her heirs at death.
, Deeds are valid when - ANSWER They are voluntarily delivered and accepted. Does
NOT need to be recorded
Covenant of Seisin - ANSWER Grantor has ownership of property and has a right to sell
it
When selling a rental listing the customer gets a refund on which terms - ANSWER
within 30 days regardless of reason for 75%, if there is a mistake 100%
What economic indicator adjusts in an adjustable rate mortgage - ANSWER index
Estate for years - ANSWER Lease for a definite period of time
USPAP - ANSWER Uniform Standards of Professional Appraisal Practice
Which of the following is a set of administrative rules developed by the FREC, (Florida
Real Estate Commission)? - ANSWER Chapter 61j2
How is the intangible tax typically noted on the Closing Disclosure Statement? -
ANSWER Buyer debit only - - Tax on a new mortgage
Easement in Gross - ANSWER easement for the use of utlities
Easement by Prescription - ANSWER Created through continual use over a certain
period of time. It must be continual, visible, & w/o approval. Example - a private road
becomes public.
Easement by necessity - ANSWER Right of access to a landlocked parcel
Partial Release Clause - ANSWER A part of a mortgage, which provides for the release
of part of the property (used as security in the loan) upon payment of a certain amount
of the mortgage. Blanket mortgage.
Blanket Mortgage - ANSWER A mortgage which covers more than one piece of real
estate. Often used by a developer in the financing of undeveloped lots. Contains a
partial release clause.
Rental List - ANSWER First degree misdemeanor
How do you find the value of a property, (sales price) if you have been given the
capitalization rate and the net operating income? - ANSWER The formula is the net
operating income divided by the capitalization rate
Who are the FREC comprised of - ANSWER There are seven members of the FREC.
Four are brokers that have been brokers for at least five years, one is any of the three
types of licensee, and two are consumers also called civilians or laymen
