FL Real Estate FINAL EXAM REVIEW
WITH EXAM QUESTIONS AND
CORRECT SOLUTIONS UPDATED
2025/2026 ALREADY GRADED!!100%
GUARANTEED PASS!!!<<BRAND
NEW VERSION>>
Which act attempted to eliminate discrimination caused by blockbusting, steering,
and redlining? - ANSWER ✓ Fair Housing Act of 1968
You get a loan from the Loan Star Bank to help pay for your home. Find the
interest on the loan if you borrowed $12,000 at 10% for one year. - ANSWER ✓
$1,200
Radon is found in well water and where else? - ANSWER ✓ soil
Which of the following is an example of a prime lender, as compared to a
subprime lender? - ANSWER ✓ offers lower fees
Ben didn't renew his license because he had not completed his continuing
education before the expiration date. What happens if he waits longer than two
years past the license expiration date to complete the requirement and renew his
license? - ANSWER ✓ his license becomes null & void
In the sales comparison approach, using comparables that are five and 15 years old
when appraising a subject that is 10 years old is an example of what? - ANSWER
✓ bracketing
If the land is described as "Lot 6 of Block 3 of the East Subdivision plat as
recorded in Map Book 18, Page 11 at the Recorder of Deeds," what type of legal
description is being used? - ANSWER ✓ lot & block
,Microscopic pieces of mold that float around in the air are called what? -
ANSWER ✓ spores
Which of these may have been used as a point of beginning in the metes and
bounds system? - ANSWER ✓ a fence post, iron stake, pine tree
What are the main benefits to veterans of the VA-guaranteed loan program? -
ANSWER ✓ no down payment, no mortgage insurance, & no prepayment penalty
Business is hopping, and you're managing four sales at once! Which of your
clients should have received a written agency notice? - ANSWER ✓ seller of a
triplex
The capital gains exclusion for couples filing jointly who have lived in their
primary residence at least two of the five years immediately preceding the sale of
the home is up to $500,000. What is the capital gains exclusion for single
taxpayers? - ANSWER ✓ $250,000
Broker Amanda hires Jake to be an assistant at her firm in Sarasota. She would
like to compensate Jake on a completed-transaction basis. For this to be
permissible, Jake must ______. - ANSWER ✓ be licensed
Christina purchased a house from Thomas. When did she officially gain
ownership of the property? - ANSWER ✓ With the transfer of deed from the seller
to the buyer
What's the definition of a group home? - ANSWER ✓ a facility where unrelated
adults live
Which document is signed and agreed to at closing and reconciles what the final
financial obligations are for both the buyer and seller? - ANSWER ✓ closing
disclosure
Valuation - ANSWER ✓ Differences between 2 properties
Transaction Broker - ANSWER ✓ No written agreement and provides limited
representation
, Single Agent - ANSWER ✓ Works for the principle and acts in the best interest of
the employer
No Brokerage Relationship - ANSWER ✓ When a member of public does not
agree to enter into an agreement
Residential Sales - ANSWER ✓ one to four units and 10 acres or less
Commercial Sales - ANSWER ✓ Knowing the basic tax laws and tax
consequences of buying and selling commercial
Industrial Sales - ANSWER ✓ Must know government relations of land use;
environmental considerations, transportation etc.
Absentee Owner - ANSWER ✓ Owners that buy income properties as investment
and depend on professionals to manage them
Property Managers - ANSWER ✓ responsibilities includes locating tenants,
collecting rents, taxes, insurance, OE, maintaining records and maintenance
Appraising - ANSWER ✓ Estimating the value of a property
FIRREA - Financial Institutions Reform, Recovery, and Enforcement Act of 1989,
and - ANSWER ✓ Requires utilized by federally regulated lenders be the standards
of USPAP (Uniform Standards of Professional Appraisal Practice)
Comparative Market Analysis (CMA) - ANSWER ✓ Real estate brokers and sales
associates that offer opinions of the value of real property
Broker Price Opinion (BPO) - ANSWER ✓ Broker Price Opinion same as CMA
National Association of Realtors - ANSWER ✓ Largest trade and professional
association with the goal of preserving the right of individuals
Dedication - ANSWER ✓ Transfer of ownership from a builder
FREC was created in - ANSWER ✓ 1925
, FREC responsibilities - ANSWER ✓ Administer and enforce the laws
Real Estate license law was designated in - ANSWER ✓ 11941 by Chapter 475
Purpose of the law? - ANSWER ✓ To protect the public
5 Real estate License Requirements - ANSWER ✓ 18 years of age
HS Diploma or equivalent
Not required to be a FL Resident
Mininum of 63 classroom hours of 50 minutes or more
Certificate of Satisfactory Completion
Do FL BAR members need the pre license course? - ANSWER ✓ No they are
exempt and only need their BAR membership card
If application is denied - ANSWER ✓ Applicant must be notified in writing and
allowed 21 days to appeal
Sales associates whether actively or inactively licensed must what? - ANSWER ✓
Must complete the 45 hour pre licensing course prior to the expiration date
Failure to complete - ANSWER ✓ License is VOID
All practicing or not sales associates must - ANSWER ✓ Complete 14 hour
commission approved continuing ED prior to the 2 year renewal
Broker testing requirements - ANSWER ✓ Must attend 72 (50) hours of
classroom and pass the class final to take the state exam
Attorney in fact - ANSWER ✓ a person granted authority under POA
Attorneys at law - ANSWER ✓ may perform legal services on behalf of their
clients
Court Appointed - ANSWER ✓ appointed by the court to represent;
no commission
only for fee or salary
WITH EXAM QUESTIONS AND
CORRECT SOLUTIONS UPDATED
2025/2026 ALREADY GRADED!!100%
GUARANTEED PASS!!!<<BRAND
NEW VERSION>>
Which act attempted to eliminate discrimination caused by blockbusting, steering,
and redlining? - ANSWER ✓ Fair Housing Act of 1968
You get a loan from the Loan Star Bank to help pay for your home. Find the
interest on the loan if you borrowed $12,000 at 10% for one year. - ANSWER ✓
$1,200
Radon is found in well water and where else? - ANSWER ✓ soil
Which of the following is an example of a prime lender, as compared to a
subprime lender? - ANSWER ✓ offers lower fees
Ben didn't renew his license because he had not completed his continuing
education before the expiration date. What happens if he waits longer than two
years past the license expiration date to complete the requirement and renew his
license? - ANSWER ✓ his license becomes null & void
In the sales comparison approach, using comparables that are five and 15 years old
when appraising a subject that is 10 years old is an example of what? - ANSWER
✓ bracketing
If the land is described as "Lot 6 of Block 3 of the East Subdivision plat as
recorded in Map Book 18, Page 11 at the Recorder of Deeds," what type of legal
description is being used? - ANSWER ✓ lot & block
,Microscopic pieces of mold that float around in the air are called what? -
ANSWER ✓ spores
Which of these may have been used as a point of beginning in the metes and
bounds system? - ANSWER ✓ a fence post, iron stake, pine tree
What are the main benefits to veterans of the VA-guaranteed loan program? -
ANSWER ✓ no down payment, no mortgage insurance, & no prepayment penalty
Business is hopping, and you're managing four sales at once! Which of your
clients should have received a written agency notice? - ANSWER ✓ seller of a
triplex
The capital gains exclusion for couples filing jointly who have lived in their
primary residence at least two of the five years immediately preceding the sale of
the home is up to $500,000. What is the capital gains exclusion for single
taxpayers? - ANSWER ✓ $250,000
Broker Amanda hires Jake to be an assistant at her firm in Sarasota. She would
like to compensate Jake on a completed-transaction basis. For this to be
permissible, Jake must ______. - ANSWER ✓ be licensed
Christina purchased a house from Thomas. When did she officially gain
ownership of the property? - ANSWER ✓ With the transfer of deed from the seller
to the buyer
What's the definition of a group home? - ANSWER ✓ a facility where unrelated
adults live
Which document is signed and agreed to at closing and reconciles what the final
financial obligations are for both the buyer and seller? - ANSWER ✓ closing
disclosure
Valuation - ANSWER ✓ Differences between 2 properties
Transaction Broker - ANSWER ✓ No written agreement and provides limited
representation
, Single Agent - ANSWER ✓ Works for the principle and acts in the best interest of
the employer
No Brokerage Relationship - ANSWER ✓ When a member of public does not
agree to enter into an agreement
Residential Sales - ANSWER ✓ one to four units and 10 acres or less
Commercial Sales - ANSWER ✓ Knowing the basic tax laws and tax
consequences of buying and selling commercial
Industrial Sales - ANSWER ✓ Must know government relations of land use;
environmental considerations, transportation etc.
Absentee Owner - ANSWER ✓ Owners that buy income properties as investment
and depend on professionals to manage them
Property Managers - ANSWER ✓ responsibilities includes locating tenants,
collecting rents, taxes, insurance, OE, maintaining records and maintenance
Appraising - ANSWER ✓ Estimating the value of a property
FIRREA - Financial Institutions Reform, Recovery, and Enforcement Act of 1989,
and - ANSWER ✓ Requires utilized by federally regulated lenders be the standards
of USPAP (Uniform Standards of Professional Appraisal Practice)
Comparative Market Analysis (CMA) - ANSWER ✓ Real estate brokers and sales
associates that offer opinions of the value of real property
Broker Price Opinion (BPO) - ANSWER ✓ Broker Price Opinion same as CMA
National Association of Realtors - ANSWER ✓ Largest trade and professional
association with the goal of preserving the right of individuals
Dedication - ANSWER ✓ Transfer of ownership from a builder
FREC was created in - ANSWER ✓ 1925
, FREC responsibilities - ANSWER ✓ Administer and enforce the laws
Real Estate license law was designated in - ANSWER ✓ 11941 by Chapter 475
Purpose of the law? - ANSWER ✓ To protect the public
5 Real estate License Requirements - ANSWER ✓ 18 years of age
HS Diploma or equivalent
Not required to be a FL Resident
Mininum of 63 classroom hours of 50 minutes or more
Certificate of Satisfactory Completion
Do FL BAR members need the pre license course? - ANSWER ✓ No they are
exempt and only need their BAR membership card
If application is denied - ANSWER ✓ Applicant must be notified in writing and
allowed 21 days to appeal
Sales associates whether actively or inactively licensed must what? - ANSWER ✓
Must complete the 45 hour pre licensing course prior to the expiration date
Failure to complete - ANSWER ✓ License is VOID
All practicing or not sales associates must - ANSWER ✓ Complete 14 hour
commission approved continuing ED prior to the 2 year renewal
Broker testing requirements - ANSWER ✓ Must attend 72 (50) hours of
classroom and pass the class final to take the state exam
Attorney in fact - ANSWER ✓ a person granted authority under POA
Attorneys at law - ANSWER ✓ may perform legal services on behalf of their
clients
Court Appointed - ANSWER ✓ appointed by the court to represent;
no commission
only for fee or salary
