Florida Real Estate Lic Exam 1-4 Questions with Correct Answers 100% Verified Solution

Florida Real Estate Lic Exam 1-4 Questions with Correct Answers 100% Verified Solution The scope of a property manager's functions encompasses more than just rent collection, maintenance, and repair. - Correct Answer-TRUE. A property manager must strive to produce the greatest possible net income over the longest possible time. In doing so, the property manager often needs to develop plans for modernization, remodeling, or alteration of existing properties. Property managers also are responsible for improving tenant relations, as well as for advertising and merchandising. Real estate professionals who specialize in the sale, purchase, and lease of businesses must hold a commercial license. - Correct Answer-FALSE. In Florida, an active real estate sales associate or broker license is required to market business opportunities. No license distinction is made regarding the type of real estate. Absentee owners can be defined as property owners who do NOT reside on the property and who rely on property managers to supervise the investment - Correct Answer-TRUE. Absentee owners are property owners who do not reside on the property and who usually rely on property managers to supervise the investment According to Chapter 475, F.S., the definition of residential real estate includes up to four residential units - Correct Answer-TRUE. Chapter 475, F.S., defines residential real estate as four or fewer residential units, vacant land zoned for four or fewer residential units, or agricultural property of ten or fewer acres. Subdividing is the process of converting parcels of land into smaller units or lots, while development is the process of improving raw land so that it can be put to productive use. - Correct Answer-