FLORIDA BROKER EXAM QUESTIONS
WITH CORRECT ANSWERS
The real estate activity of sale, purchase, or lease of business including tangible and
intagible assests is called - Answer-business opportunity brokerage
many brokers and sales associates prefer to select one specific portion of a city and
become an expert in that particular portion called - Answer-a farm area
a professional service conducted by a person or company hired to maintain and
manage property on behalf of property owners or absentee owners. - Answer-property
management
typically find a tenant for property and collect a fee - Answer-rental agent
a local representative of the property's owner. responsible for managing the property
and managing the expenses. - Answer-property manager
a property owner who does not reside on the property and who often relies on a
professional property manager to manage the investment - Answer-absentee owner
the process of estimating the value of real property - Answer-appraisal
Florida law requires appraisers and real estate brokers/sales associates to abide by -
Answer-Uniform Standards of Professional Appraisal Practice (USPAP)
regulates state -certified, licensed and registered trainee appraisers. - Answer-The
Florida Real state appraisal board.
information collected about concerning real estate activity, recent sales of similar
properties in an area, and expired listings. May help a potential seller determine a price
to sell their property or a buyer to make an appropriate offer. May or may not be for a
fee - Answer-CMA a comparative market analysis
a written opinion of value of real property - Answer-a BPO (broker price opinion)
provide advice to individual and firms regarding the purchase and use of real estate
investments. Typically paid a flat fee. - Answer-Real estate counselors
Before work can begin, most local governments require that developers submit a
______ of a new development for review by applicable government planning board -
Answer-Subdivision plat map
,affect how the land can be used and establish criteria such as the minimum sq footage,
type of construction, architectural design and so forth - Answer-Restrictive Convenants
provisions placed in deeds to control future uses of the property - Answer-deed
restictions
The difference between deed restrictions and restrictive covenants? - Answer-
Restrictive covenants are restrictions on the entire subdivision. ex minimum allowable
sq footage, garage doors face the street, rv or boats may be parked
Deed restriction is placed on the deed and the owner has created a restriction on future
owner of the parcel of real estate. May prevent future landowners from selling alcoholic
beverages on the site
a real estate professional who is a member of a local board of realtors and is affiliated
with the Florida realtors and NAR - Answer-REALTOR
a database that allows real estate brokers represent sellers under a listing contract to
share information about properties with real estate brokers who may represent potential
buyers - Answer-MLS
An applicant has _______ from the time their application is approved to pass the Real
Estate Exam - Answer-2 years
Applicants must score a _____ on the FL Real Estate Exam - Answer-75 or higher
Sales associates are required to complete a ________ requirement for post licensing -
Answer-45 hour post licensing course and pass an end of course exam with 75 or
higher (if fail must wait 30 days before retaking)
Licensee must complete their post licensee course before their renewal period or their
license becomes - Answer-Null and void
After completing post licensing education requirement licensees must complete at least
_______ every ______. - Answer-14 hours ever 2 years
_______ of core law are required in 2 year, 14 hr renewal cycle. - Answer-3 hours
Broker applicants must fulfill an experience requirement of - Answer-1.pass 45 hr
continuing ed,
2.holding an active real estate license for at least 24 months(2 years) during the five-
year period preceding application to be eligible. The applicant can be under a FL RE
broker, RE broker licensed in another state or any other foreign jurisdiction, cannot be
earned by working for an owner developer unless the owner developer is a current
licensed broker.
,Broker licensees are required to complete post-licensing education before the first
renewal period. They must complete a _______ hr post license requirement. Failure to
do so will result in the license becoming ________ - Answer-60 hour
null and void
If a broker fails to complete the post licensing requirements within renewal period the
license becomes ___________. The broker may request and receive a _____________
after completing _________ of continuing education within_________following the
expiration of the broker's license and provided the broker has complied with all
requirements for renewal. - Answer-null and void
sales associate license
14 hours
6 months
A licensee who has received a 4 year degree in real estate from an accredited
institution of higher education is exempt from - Answer-Pre License 1
Pre License II-(broker)
Post License
(broker question)If broker fails to complete the post licensing requirements the sales
associates' license working under the broker become - Answer-involuntary inactive
Brokers must complete _____ after post licensing requirement has been met - Answer-
14 hrs of continuing ed every 2 years
3 hours being core law.
the same as the sales associate
authorization by the state to place an applicant on the register(record) of officially
recognized individuals and businesses. - Answer-Registration
Sales associates and Broker Associates must be - Answer-registered under their
employing broker (or owner developer) They may have only one registered employer at
any given time.
passing the real estate examination give the applicant the right to request and be issued
a real estate - Answer-license
a legal term used to refer to evidence that is good and sufficient on its fact (at first view)
to establish a given fact or prove a case - Answer-prima facie evidence
The Business of bringing together buyers & sellers, owners & renters, and completing
real estate transactions. - Answer-Real estate brokerage
, Chapter 475 F.S. defines____________ as 4 or fewer residential units, vacant land
zoned for 4 or fewer residential units, or agricultural property of 10 or fewer acres -
Answer-residential
______property is defined in Chapter 475 F.S to mean__________property of more
than 10 acres - Answer-agricultural
Real estate licensees who engage in the sale, purchase, or lease of business are called
- Answer-business brokers
The five major sales specialties are: - Answer-1. Residential
2. Commercial
3. Industrial
4. Agricultural
5 Businesses
Is a license required to sell and lease business opportunities for others? - Answer-Yes
must be a licensed
3 categories of residential construction are and what do they mean: - Answer-1:
Speculative (spec) homes- build "on speculation" involves purchasing one or more lots
& construction a home (or homes) without a buyer in advance of construction.
2. Custom homes-custom builder constructs homes under contract with buyer
3. Tract-type of speculative building, feature several model homes, buyers usually
select a floor plan(new subdivisions)
The eight states that FREC has mutual recognition with are: - Answer-Alabama,
Arkansas, Connecticut, Georgia, Illinois, Mississippi, Nebraska, Oklahoma
Real estate services are further defined in the law to include the following activities in
the sale, exchange, or lease of real property, including mineral rights, business
enterprises or business opportunities: - Answer--offer to, agree to, or attempt to perform
real estate services
-advertise or to indicate to the public that one is in business of performing RE services
-direct/assist in the procurement of sellers/buyers/lessors/lessees
negotiate/close a real estate transaction
defined as anything of value or valuable consideration, directly or indirectly paid,
promised, or expected to be paid or received. - Answer-compensation
It is a violation of license law to share a commission with or pay a fee or compensation
to an unlicensed person for the referral of real estate business, clients, prospects or
customers : True or False - Answer-True
Who is exempt from a real estate license? - Answer--Property owners dealing with their
own property
WITH CORRECT ANSWERS
The real estate activity of sale, purchase, or lease of business including tangible and
intagible assests is called - Answer-business opportunity brokerage
many brokers and sales associates prefer to select one specific portion of a city and
become an expert in that particular portion called - Answer-a farm area
a professional service conducted by a person or company hired to maintain and
manage property on behalf of property owners or absentee owners. - Answer-property
management
typically find a tenant for property and collect a fee - Answer-rental agent
a local representative of the property's owner. responsible for managing the property
and managing the expenses. - Answer-property manager
a property owner who does not reside on the property and who often relies on a
professional property manager to manage the investment - Answer-absentee owner
the process of estimating the value of real property - Answer-appraisal
Florida law requires appraisers and real estate brokers/sales associates to abide by -
Answer-Uniform Standards of Professional Appraisal Practice (USPAP)
regulates state -certified, licensed and registered trainee appraisers. - Answer-The
Florida Real state appraisal board.
information collected about concerning real estate activity, recent sales of similar
properties in an area, and expired listings. May help a potential seller determine a price
to sell their property or a buyer to make an appropriate offer. May or may not be for a
fee - Answer-CMA a comparative market analysis
a written opinion of value of real property - Answer-a BPO (broker price opinion)
provide advice to individual and firms regarding the purchase and use of real estate
investments. Typically paid a flat fee. - Answer-Real estate counselors
Before work can begin, most local governments require that developers submit a
______ of a new development for review by applicable government planning board -
Answer-Subdivision plat map
,affect how the land can be used and establish criteria such as the minimum sq footage,
type of construction, architectural design and so forth - Answer-Restrictive Convenants
provisions placed in deeds to control future uses of the property - Answer-deed
restictions
The difference between deed restrictions and restrictive covenants? - Answer-
Restrictive covenants are restrictions on the entire subdivision. ex minimum allowable
sq footage, garage doors face the street, rv or boats may be parked
Deed restriction is placed on the deed and the owner has created a restriction on future
owner of the parcel of real estate. May prevent future landowners from selling alcoholic
beverages on the site
a real estate professional who is a member of a local board of realtors and is affiliated
with the Florida realtors and NAR - Answer-REALTOR
a database that allows real estate brokers represent sellers under a listing contract to
share information about properties with real estate brokers who may represent potential
buyers - Answer-MLS
An applicant has _______ from the time their application is approved to pass the Real
Estate Exam - Answer-2 years
Applicants must score a _____ on the FL Real Estate Exam - Answer-75 or higher
Sales associates are required to complete a ________ requirement for post licensing -
Answer-45 hour post licensing course and pass an end of course exam with 75 or
higher (if fail must wait 30 days before retaking)
Licensee must complete their post licensee course before their renewal period or their
license becomes - Answer-Null and void
After completing post licensing education requirement licensees must complete at least
_______ every ______. - Answer-14 hours ever 2 years
_______ of core law are required in 2 year, 14 hr renewal cycle. - Answer-3 hours
Broker applicants must fulfill an experience requirement of - Answer-1.pass 45 hr
continuing ed,
2.holding an active real estate license for at least 24 months(2 years) during the five-
year period preceding application to be eligible. The applicant can be under a FL RE
broker, RE broker licensed in another state or any other foreign jurisdiction, cannot be
earned by working for an owner developer unless the owner developer is a current
licensed broker.
,Broker licensees are required to complete post-licensing education before the first
renewal period. They must complete a _______ hr post license requirement. Failure to
do so will result in the license becoming ________ - Answer-60 hour
null and void
If a broker fails to complete the post licensing requirements within renewal period the
license becomes ___________. The broker may request and receive a _____________
after completing _________ of continuing education within_________following the
expiration of the broker's license and provided the broker has complied with all
requirements for renewal. - Answer-null and void
sales associate license
14 hours
6 months
A licensee who has received a 4 year degree in real estate from an accredited
institution of higher education is exempt from - Answer-Pre License 1
Pre License II-(broker)
Post License
(broker question)If broker fails to complete the post licensing requirements the sales
associates' license working under the broker become - Answer-involuntary inactive
Brokers must complete _____ after post licensing requirement has been met - Answer-
14 hrs of continuing ed every 2 years
3 hours being core law.
the same as the sales associate
authorization by the state to place an applicant on the register(record) of officially
recognized individuals and businesses. - Answer-Registration
Sales associates and Broker Associates must be - Answer-registered under their
employing broker (or owner developer) They may have only one registered employer at
any given time.
passing the real estate examination give the applicant the right to request and be issued
a real estate - Answer-license
a legal term used to refer to evidence that is good and sufficient on its fact (at first view)
to establish a given fact or prove a case - Answer-prima facie evidence
The Business of bringing together buyers & sellers, owners & renters, and completing
real estate transactions. - Answer-Real estate brokerage
, Chapter 475 F.S. defines____________ as 4 or fewer residential units, vacant land
zoned for 4 or fewer residential units, or agricultural property of 10 or fewer acres -
Answer-residential
______property is defined in Chapter 475 F.S to mean__________property of more
than 10 acres - Answer-agricultural
Real estate licensees who engage in the sale, purchase, or lease of business are called
- Answer-business brokers
The five major sales specialties are: - Answer-1. Residential
2. Commercial
3. Industrial
4. Agricultural
5 Businesses
Is a license required to sell and lease business opportunities for others? - Answer-Yes
must be a licensed
3 categories of residential construction are and what do they mean: - Answer-1:
Speculative (spec) homes- build "on speculation" involves purchasing one or more lots
& construction a home (or homes) without a buyer in advance of construction.
2. Custom homes-custom builder constructs homes under contract with buyer
3. Tract-type of speculative building, feature several model homes, buyers usually
select a floor plan(new subdivisions)
The eight states that FREC has mutual recognition with are: - Answer-Alabama,
Arkansas, Connecticut, Georgia, Illinois, Mississippi, Nebraska, Oklahoma
Real estate services are further defined in the law to include the following activities in
the sale, exchange, or lease of real property, including mineral rights, business
enterprises or business opportunities: - Answer--offer to, agree to, or attempt to perform
real estate services
-advertise or to indicate to the public that one is in business of performing RE services
-direct/assist in the procurement of sellers/buyers/lessors/lessees
negotiate/close a real estate transaction
defined as anything of value or valuable consideration, directly or indirectly paid,
promised, or expected to be paid or received. - Answer-compensation
It is a violation of license law to share a commission with or pay a fee or compensation
to an unlicensed person for the referral of real estate business, clients, prospects or
customers : True or False - Answer-True
Who is exempt from a real estate license? - Answer--Property owners dealing with their
own property
