Florida Real Estate Broker Exam With
Actual Questions & Verified
Answers,Plus Rationales/Expert
Verified For Guaranteed Pass Graded
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1. A broker in Florida must maintain a real estate trust account if they:
A. Have more than one office
B. Handle funds belonging to others in a real estate transaction
C. Employ more than five sales associates
D. Only sell their own property
B. Handle funds belonging to others in a real estate transaction
Rationale: Brokers must keep client funds in a trust account to avoid
commingling and to comply with Florida law.
2. How long must a Florida broker keep transaction records?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
C. 3 years
Rationale: Florida law requires brokers to maintain real estate transaction
records for at least 3 years.
3. Which of the following is required for a real estate broker license in
Florida?
A. High school diploma only
, B. 24 months of active experience as a sales associate within the
preceding 5 years
C. College degree in business
D. Passing the sales associate exam
B. 24 months of active experience as a sales associate within the preceding 5
years
Rationale: To qualify for a broker license, Florida law requires at least 24
months of real estate experience as a licensed sales associate within the last
5 years.
4. Which type of listing allows the seller to sell the property themselves
without paying a commission?
A. Exclusive right of sale
B. Open listing
C. Exclusive agency listing
D. Net listing
C. Exclusive agency listing
Rationale: In an exclusive agency listing, the owner retains the right to sell
the property themselves without paying a commission.
5. A broker receives an earnest money deposit. They must:
A. Place it in the broker’s personal account
B. Place it in the escrow or trust account immediately
C. Give it directly to the seller
D. Wait until the contract is executed
B. Place it in the escrow or trust account immediately
Rationale: Florida law requires earnest money to be deposited promptly into
an escrow account to protect client funds.
6. What is the maximum commission rate a broker can charge in Florida?
A. 10%
B. 8%
C. 5%
D. There is no maximum; it is negotiable
, D. There is no maximum; it is negotiable
Rationale: Florida law does not regulate commission rates; they are
determined by agreement between broker and client.
7. Commingling occurs when a broker:
A. Keeps business and personal funds separate
B. Places client funds in a personal or operating account
C. Deposits funds in a trust account
D. Gives notice to the FREC
B. Places client funds in a personal or operating account
Rationale: Commingling is mixing client funds with personal or business
funds, which is prohibited.
8. In Florida, a broker’s trust account may hold which of the following?
A. Only cash
B. Cash, checks, or money orders
C. Personal funds to cover minor bank fees
D. Both B and C
D. Both B and C
Rationale: Brokers can deposit client funds such as cash, checks, or money
orders, and may add minimal personal funds to cover bank fees.
9. Which of the following is an example of dual agency?
A. Representing the buyer only
B. Representing the seller only
C. Representing both buyer and seller in the same transaction with
disclosure and consent
D. Referring a client to another broker
C. Representing both buyer and seller in the same transaction with disclosure
and consent
Rationale: Dual agency occurs when a broker represents both parties in a
transaction, which requires full disclosure and written consent in Florida.
10.Florida’s real estate license law is governed by:
A. Florida Civil Code
B. Florida Real Estate Commission (FREC) rules
Actual Questions & Verified
Answers,Plus Rationales/Expert
Verified For Guaranteed Pass Graded
A+/2026 /Latest Update/Instant
Download Pdf
1. A broker in Florida must maintain a real estate trust account if they:
A. Have more than one office
B. Handle funds belonging to others in a real estate transaction
C. Employ more than five sales associates
D. Only sell their own property
B. Handle funds belonging to others in a real estate transaction
Rationale: Brokers must keep client funds in a trust account to avoid
commingling and to comply with Florida law.
2. How long must a Florida broker keep transaction records?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
C. 3 years
Rationale: Florida law requires brokers to maintain real estate transaction
records for at least 3 years.
3. Which of the following is required for a real estate broker license in
Florida?
A. High school diploma only
, B. 24 months of active experience as a sales associate within the
preceding 5 years
C. College degree in business
D. Passing the sales associate exam
B. 24 months of active experience as a sales associate within the preceding 5
years
Rationale: To qualify for a broker license, Florida law requires at least 24
months of real estate experience as a licensed sales associate within the last
5 years.
4. Which type of listing allows the seller to sell the property themselves
without paying a commission?
A. Exclusive right of sale
B. Open listing
C. Exclusive agency listing
D. Net listing
C. Exclusive agency listing
Rationale: In an exclusive agency listing, the owner retains the right to sell
the property themselves without paying a commission.
5. A broker receives an earnest money deposit. They must:
A. Place it in the broker’s personal account
B. Place it in the escrow or trust account immediately
C. Give it directly to the seller
D. Wait until the contract is executed
B. Place it in the escrow or trust account immediately
Rationale: Florida law requires earnest money to be deposited promptly into
an escrow account to protect client funds.
6. What is the maximum commission rate a broker can charge in Florida?
A. 10%
B. 8%
C. 5%
D. There is no maximum; it is negotiable
, D. There is no maximum; it is negotiable
Rationale: Florida law does not regulate commission rates; they are
determined by agreement between broker and client.
7. Commingling occurs when a broker:
A. Keeps business and personal funds separate
B. Places client funds in a personal or operating account
C. Deposits funds in a trust account
D. Gives notice to the FREC
B. Places client funds in a personal or operating account
Rationale: Commingling is mixing client funds with personal or business
funds, which is prohibited.
8. In Florida, a broker’s trust account may hold which of the following?
A. Only cash
B. Cash, checks, or money orders
C. Personal funds to cover minor bank fees
D. Both B and C
D. Both B and C
Rationale: Brokers can deposit client funds such as cash, checks, or money
orders, and may add minimal personal funds to cover bank fees.
9. Which of the following is an example of dual agency?
A. Representing the buyer only
B. Representing the seller only
C. Representing both buyer and seller in the same transaction with
disclosure and consent
D. Referring a client to another broker
C. Representing both buyer and seller in the same transaction with disclosure
and consent
Rationale: Dual agency occurs when a broker represents both parties in a
transaction, which requires full disclosure and written consent in Florida.
10.Florida’s real estate license law is governed by:
A. Florida Civil Code
B. Florida Real Estate Commission (FREC) rules
