45 Hour Post License Florida / Study Guide Q-Bank / Expert Verified Actual
Questions & Answers for Guaranteed Pass / Newest Update, (REAL DEAL).
Question 1
A real estate licensee decides to focus their business development efforts exclusively on selling
waterfront homes in the Cape Coral area. What is this business strategy called?
A) Prospecting
B) Niche Marketing
C) Farming
D) Industrial Sales
E) Blockbusting
Correct Answer: C) Farming
Rationale: Farming is the strategy of concentrating on one specific type or style of property or
focusing on a particular neighborhood to become an expert in that specific market.
Question 2
According to F.S. 475, which of the following is NOT considered a residential transaction?
A) A lease with an option to purchase a condominium unit
B) The sale of a 15-acre agricultural property
C) The sale of an unimproved lot intended for a single-family home
D) The sale of a four-unit apartment building
E) The disposition of a business interest involving a duplex
Correct Answer: B) The sale of a 15-acre agricultural property
Rationale: F.S. 475 defines a residential transaction as including agricultural properties of ten
acres or less. A 15-acre property falls outside this specific definition.
Question 3
An investor who owns an apartment complex in Florida but lives in New York is best described
as what type of owner?
A) A proprietary lessee
B) A timeshare owner
C) An absentee owner
,D) A resident manager
E) A foreign national
Correct Answer: C) An absentee owner
Rationale: Absentee owners are individuals who purchase income-producing properties as
investments but are not physically present to manage them, relying on professionals for that
task.
Question 4
A sales associate performs a Broker Price Opinion (BPO) for a bank. This BPO must be developed
and reported in conformity with which standard?
A) The National Association of Realtors (NAR) Code of Ethics
B) The Florida Association of Realtors (FAR) guidelines
C) The Uniform Standards of Professional Appraisal Practice (USPAP)
D) The Real Estate Settlement Procedures Act (RESPA)
E) Florida Statutes Chapter 455
Correct Answer: C) The Uniform Standards of Professional Appraisal Practice (USPAP)
Rationale: All appraisals and valuations, including BPOs, whether performed by a licensed
appraiser or a real estate licensee, must adhere to the standards set forth by USPAP.
Question 5
The National Association of Realtors (NAR) enforces professional standards of conduct for its
members primarily through which document?
A) Florida Statutes Chapter 475
B) The Uniform Standards of Professional Appraisal Practice (USPAP)
C) Its Mission Statement
D) The Code of Ethics
E) The Americans with Disabilities Act (ADA)
Correct Answer: D) The Code of Ethics
Rationale: The NAR, the largest real estate organization, requires its members to adhere to a
strict Code of Ethics that outlines duties to clients, the public, and other licensees.
,Question 6
What is the largest trade association for real estate professionals in the state of Florida?
A) The National Association of Realtors (NAR)
B) The Department of Business and Professional Regulation (DBPR)
C) The Florida Real Estate Commission (FREC)
D) The Florida Association of Realtors (FAR)
E) The Appraisal Foundation
Correct Answer: D) The Florida Association of Realtors (FAR)
Rationale: The Florida Association of Realtors (FAR) is the largest trade association within the
state, providing services and advocacy for Florida-based real estate licensees.
Question 7
The NAR Code of Ethics outlines duties that members owe to various parties. Which of the
following is NOT one of those specifically listed categories?
A) Duties to clients and customers
B) Duties to the public in general
C) Duties to other real estate licensees
D) Duties to the local governing body
E) All of the above are required duties
Correct Answer: D) Duties to the local governing body
Rationale: The Code of Ethics is explicitly structured around three main categories of duties:
those to clients/customers, those to the public, and those to fellow real estate professionals.
Question 8
To be a successful real estate professional, a licensee must be skilled in valuation, marketing,
and what other area?
A) Property Management
B) Construction
C) Property Transfer
D) Financial Planning
E) Interior Design
, Correct Answer: C) Property Transfer
Rationale: The three required skills are Valuation (conducting a CMA), Marketing (promoting
the property), and Property Transfer (understanding how to successfully close the
transaction).
Question 9
A real estate broker drafts a statement that says, "To be the most trusted and successful
brokerage in South Florida by providing unparalleled service and expertise." What is this
statement an example of?
A) A marketing plan
B) A mission statement
C) A legal disclaimer
D) An advertisement
E) A prospecting script
Correct Answer: B) A mission statement
Rationale: A mission statement is a description of a desired outcome that helps create a
mental picture of a business goal, designed to excite and motivate.
Question 10
A licensee is helping a client find a 100,000-square-foot facility for manufacturing. This licensee
is specializing in what type of property?
A) Commercial Sales
B) Business Brokerage
C) Residential Sales
D) Industrial Sales or Leasing
E) Agricultural Sales
Correct Answer: D) Industrial Sales or Leasing
Rationale: Industrial properties include warehouses and manufacturing facilities. These
transactions typically involve users/owners rather than passive investors.
Questions & Answers for Guaranteed Pass / Newest Update, (REAL DEAL).
Question 1
A real estate licensee decides to focus their business development efforts exclusively on selling
waterfront homes in the Cape Coral area. What is this business strategy called?
A) Prospecting
B) Niche Marketing
C) Farming
D) Industrial Sales
E) Blockbusting
Correct Answer: C) Farming
Rationale: Farming is the strategy of concentrating on one specific type or style of property or
focusing on a particular neighborhood to become an expert in that specific market.
Question 2
According to F.S. 475, which of the following is NOT considered a residential transaction?
A) A lease with an option to purchase a condominium unit
B) The sale of a 15-acre agricultural property
C) The sale of an unimproved lot intended for a single-family home
D) The sale of a four-unit apartment building
E) The disposition of a business interest involving a duplex
Correct Answer: B) The sale of a 15-acre agricultural property
Rationale: F.S. 475 defines a residential transaction as including agricultural properties of ten
acres or less. A 15-acre property falls outside this specific definition.
Question 3
An investor who owns an apartment complex in Florida but lives in New York is best described
as what type of owner?
A) A proprietary lessee
B) A timeshare owner
C) An absentee owner
,D) A resident manager
E) A foreign national
Correct Answer: C) An absentee owner
Rationale: Absentee owners are individuals who purchase income-producing properties as
investments but are not physically present to manage them, relying on professionals for that
task.
Question 4
A sales associate performs a Broker Price Opinion (BPO) for a bank. This BPO must be developed
and reported in conformity with which standard?
A) The National Association of Realtors (NAR) Code of Ethics
B) The Florida Association of Realtors (FAR) guidelines
C) The Uniform Standards of Professional Appraisal Practice (USPAP)
D) The Real Estate Settlement Procedures Act (RESPA)
E) Florida Statutes Chapter 455
Correct Answer: C) The Uniform Standards of Professional Appraisal Practice (USPAP)
Rationale: All appraisals and valuations, including BPOs, whether performed by a licensed
appraiser or a real estate licensee, must adhere to the standards set forth by USPAP.
Question 5
The National Association of Realtors (NAR) enforces professional standards of conduct for its
members primarily through which document?
A) Florida Statutes Chapter 475
B) The Uniform Standards of Professional Appraisal Practice (USPAP)
C) Its Mission Statement
D) The Code of Ethics
E) The Americans with Disabilities Act (ADA)
Correct Answer: D) The Code of Ethics
Rationale: The NAR, the largest real estate organization, requires its members to adhere to a
strict Code of Ethics that outlines duties to clients, the public, and other licensees.
,Question 6
What is the largest trade association for real estate professionals in the state of Florida?
A) The National Association of Realtors (NAR)
B) The Department of Business and Professional Regulation (DBPR)
C) The Florida Real Estate Commission (FREC)
D) The Florida Association of Realtors (FAR)
E) The Appraisal Foundation
Correct Answer: D) The Florida Association of Realtors (FAR)
Rationale: The Florida Association of Realtors (FAR) is the largest trade association within the
state, providing services and advocacy for Florida-based real estate licensees.
Question 7
The NAR Code of Ethics outlines duties that members owe to various parties. Which of the
following is NOT one of those specifically listed categories?
A) Duties to clients and customers
B) Duties to the public in general
C) Duties to other real estate licensees
D) Duties to the local governing body
E) All of the above are required duties
Correct Answer: D) Duties to the local governing body
Rationale: The Code of Ethics is explicitly structured around three main categories of duties:
those to clients/customers, those to the public, and those to fellow real estate professionals.
Question 8
To be a successful real estate professional, a licensee must be skilled in valuation, marketing,
and what other area?
A) Property Management
B) Construction
C) Property Transfer
D) Financial Planning
E) Interior Design
, Correct Answer: C) Property Transfer
Rationale: The three required skills are Valuation (conducting a CMA), Marketing (promoting
the property), and Property Transfer (understanding how to successfully close the
transaction).
Question 9
A real estate broker drafts a statement that says, "To be the most trusted and successful
brokerage in South Florida by providing unparalleled service and expertise." What is this
statement an example of?
A) A marketing plan
B) A mission statement
C) A legal disclaimer
D) An advertisement
E) A prospecting script
Correct Answer: B) A mission statement
Rationale: A mission statement is a description of a desired outcome that helps create a
mental picture of a business goal, designed to excite and motivate.
Question 10
A licensee is helping a client find a 100,000-square-foot facility for manufacturing. This licensee
is specializing in what type of property?
A) Commercial Sales
B) Business Brokerage
C) Residential Sales
D) Industrial Sales or Leasing
E) Agricultural Sales
Correct Answer: D) Industrial Sales or Leasing
Rationale: Industrial properties include warehouses and manufacturing facilities. These
transactions typically involve users/owners rather than passive investors.
