45 HOUR POST LICENSE REAL ESTATE
FLORIDA EXAM TEST WITH ACTUAL
EXAM QUESTIONS AND CORRECT
ANSWERS WITH DETAILED RATIONALLES
GRADED A+
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic
product.
B)
two successive quarterly increases in the gross domestic
product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. Correct Answer
B)
two successive quarterly increases in the gross domestic
product.
Explanation
When consumers, lured by lower prices, venture back into the
market, business activity increases and confidence begins to
return. Slowly, production facilities gear up to meet the new
consumer demand, capital begins to flow back into business
enterprises, and additional employees are hired.
The three types of operating expenses of an income property
are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
,variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. Correct
Answer B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed
expenses, variable expenses, and reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage
loan at 4%. The mortgage payment factor is .00477415. Taxes
for the year are $4,000, and insurance is $2,400. Her monthly
payment for principal, interest, taxes, and insurance (PITI) will
be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. Correct Answer D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest.
$4,000 taxes ÷ 12 months = 333.33. $2,400 insurance ÷ 12
months = 200. $1,432.25 + $333.33 + $200 = $1,965.58 total
PITI.
A sales associate receives a good-faith deposit from a buyer on
Wednesday. The broker must deposit the funds into the escrow
account no later than the following
A)
Tuesday.
B)
Monday.
,C)
Thursday.
D)
Friday. Correct Answer B)
Monday.
FREC rules require that the sales associate must give the
broker the funds within one business day. The broker must
deposit the funds in a bank within three business days.
The minimum legal description for a platted subdivision would
include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot
dimensions.
C)
subdivision name, county, reference to section, township, and
range.
D)
subdivision name, county, lot and block number, plat book and
page number. Correct Answer D)
subdivision name, county, lot and block number, plat book and
page number.
Antitrust laws
A)
allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. Correct Answer D)
prohibit price fixing.
, Explanation
Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering
with their business; and
requiring a minimum commission before allowing listings to be
circulated in any service, such as through an MLS.
Hearing, understanding, and evaluation are part of what type of
skill set?
A)
Oral
B)
Written
C)
Nonverbal
D)
Listening Correct Answer D)
Listening
What are the requirements for persons disturbing lead-based
paint in a house?
A)
The owner must leave the house vacant for a minimum of 30
days after cleanup.
B)
The person must have taken a 45-hour course in radon gas
remediation.
C)
Lead-based paint may not be disturbed by law.
D)
The person must be certified and follow specific work
procedures. Correct Answer D)
The person must be certified and follow specific work
procedures.
FLORIDA EXAM TEST WITH ACTUAL
EXAM QUESTIONS AND CORRECT
ANSWERS WITH DETAILED RATIONALLES
GRADED A+
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic
product.
B)
two successive quarterly increases in the gross domestic
product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. Correct Answer
B)
two successive quarterly increases in the gross domestic
product.
Explanation
When consumers, lured by lower prices, venture back into the
market, business activity increases and confidence begins to
return. Slowly, production facilities gear up to meet the new
consumer demand, capital begins to flow back into business
enterprises, and additional employees are hired.
The three types of operating expenses of an income property
are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
,variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. Correct
Answer B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed
expenses, variable expenses, and reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage
loan at 4%. The mortgage payment factor is .00477415. Taxes
for the year are $4,000, and insurance is $2,400. Her monthly
payment for principal, interest, taxes, and insurance (PITI) will
be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. Correct Answer D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest.
$4,000 taxes ÷ 12 months = 333.33. $2,400 insurance ÷ 12
months = 200. $1,432.25 + $333.33 + $200 = $1,965.58 total
PITI.
A sales associate receives a good-faith deposit from a buyer on
Wednesday. The broker must deposit the funds into the escrow
account no later than the following
A)
Tuesday.
B)
Monday.
,C)
Thursday.
D)
Friday. Correct Answer B)
Monday.
FREC rules require that the sales associate must give the
broker the funds within one business day. The broker must
deposit the funds in a bank within three business days.
The minimum legal description for a platted subdivision would
include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot
dimensions.
C)
subdivision name, county, reference to section, township, and
range.
D)
subdivision name, county, lot and block number, plat book and
page number. Correct Answer D)
subdivision name, county, lot and block number, plat book and
page number.
Antitrust laws
A)
allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. Correct Answer D)
prohibit price fixing.
, Explanation
Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering
with their business; and
requiring a minimum commission before allowing listings to be
circulated in any service, such as through an MLS.
Hearing, understanding, and evaluation are part of what type of
skill set?
A)
Oral
B)
Written
C)
Nonverbal
D)
Listening Correct Answer D)
Listening
What are the requirements for persons disturbing lead-based
paint in a house?
A)
The owner must leave the house vacant for a minimum of 30
days after cleanup.
B)
The person must have taken a 45-hour course in radon gas
remediation.
C)
Lead-based paint may not be disturbed by law.
D)
The person must be certified and follow specific work
procedures. Correct Answer D)
The person must be certified and follow specific work
procedures.
