Florida Real Estate Broker Exam Questions and Answers 100% Pass

Florida Real Estate Broker Exam Questions and Answers 100% Pass Technical skills - Correct Answer ️️ -Skills that include time management, preparing Cmas, and completing contracts. Desk cost - Correct Answer ️️ -Dividing total office expenses by number of sales associates Institutional advertising - Correct Answer ️️ -Advertising that describes the firm, its personnel, and its services. Fixed expense - Correct Answer ️️ -Occupancy costs are an example of what type of expenses? Cash basis accounting - Correct Answer ️️ -What is the most simple type of accounting and is used by most small business taxpayers? 100 sqft - Correct Answer ️️ -What is the minimum amount of sqft a sales associate should have for office space? Managing by exception - Correct Answer ️️ -When a broker compare the results of his income and expense statements with the budget, finds variances, and takes corrective action, he is using what philosophy of management? Business plan - Correct Answer ️️ -A document that provides direction for an organization as well as all the steps and procedures involved in accomplishing its goals. January 31 - Correct Answer ️️ -What is the latest date that a broker can give thier employees w-2 forms and give thejr associates form 1099 for the previous year? Variable expense - Correct Answer ️️ -What type of expense are commissions paid to sales associates? Commingling - Correct Answer ️️ -The illegal practice of mixing a customers funds with brokers own funds. Conversion - Correct Answer ️️ -The unauthorized use or possession of another persons property. Trust liability - Correct Answer ️️ -The total sum of all deposits recieved 3rd Degree Felony - Correct Answer ️️ -Practicing real estate without a license is what type of penalty? two members - Correct Answer ️️ -How many serve on the probable cause panel? Chairman of FREC - Correct Answer ️️ -Who appoints two members to serve on the probable cause panel? $150,000 - Correct Answer ️️ -What is the max payment based on judgments against one broker or sales associate from the Real Estate Recovery Fund? Administrative Law Judge - Correct Answer ️️ -Who submits a recommended order to the DBPR? 15 days - Correct Answer ️️ -How many days does a broker have to fix an issue once received a notice of noncompliance? Stipulation - Correct Answer ️️ -A voluntary agreement between opposing counsels in a disciplinary case is called what? 1st degree Misdemeanor - Correct Answer ️️ -Failing to provide accurate and current rental info for a fee holds what kind of penalty? $5000 - Correct Answer ️️ -What is the max fine for each violation under Chapter 455 that a licensee could be fined? Appraisal Qualifications Board - Correct Answer ️️ -What is the source within the appraisal profession for establishing minimum education and experience? Principle of diminishing returns/ overimprovement - Correct Answer ️️ -When an owner adds a third bedroom to a home and the increase in the homes value is LESS than the cost of improvement. Market Value - Correct Answer ️️ -The consensus of the interactions of many buyers and sellers in a particular market. B. Must be Written - Correct Answer ️️ -Appraisals involving federally related transactions: A.may be oral or written? B. must be written Sales comparison approach to value - Correct Answer ️️ -An approach to value based on the theory that knowledgeable purchaser would pay no more than the cost of acquiring a substitute property. Cost-depreciation approach - Correct Answer ️️ -An approach to value based on the theory that a knowledgeable purchaser would pay no more than the cost of acquiring an equally desirable site, combined with building an acceptable substitute structure. Negative - Correct Answer ️️ -Do External diseconomies have a negative or positive