Florida Real Estate Chapter 1 Review
Questions with Verified Answers
Sales Associate License Qualifications (F.S. 475.17) - ANSWERS-18 Years of Age
-High school diploma
-Honest, Trustworthy, of good character and have a reputation for fair dealing
-Does NOT have to be a Florida resident or U.S. citizent
Custom Building - ANSWERSBuilding to the owner's specifications.
Farming - ANSWERSSpecializing in one type or style of property, or in a particular
neighborhood.
Appraising - ANSWERSThe art of estimating value of property, where the fee is based
on the time, expense and difficulty resulting in a non-biased defensible opinion of value.
Property Management - ANSWERSManaging property for absentee owners by
maximizing profits and preserving the property.
Florida Statute 475 - ANSWERSThe Florida statute designated as "The Real Estate
License Law."
Local Government Regulations - ANSWERSPlanning, zoning, real estate taxes building
and health codes.
State Government Regulations - ANSWERSRoads, waterways, state documentary
taxes on all property transfers.
Federal Government Regulations - ANSWERSNational monetary supply, legislation
affecting lending institutions.
Dedication - ANSWERSWhen a developer conveys the streets and sidewalks in a
subdivision to the city.
Tract Building - ANSWERSDevelopers utilizing model homes to make sales from.
Speculative Building - ANSWERSA contractor builds on his/her own land and looks for
a buyer after completing construction.
Certified Property Manager - ANSWERSDesignation awarded by the Institute of Real
Estate Management (IREM)
Questions with Verified Answers
Sales Associate License Qualifications (F.S. 475.17) - ANSWERS-18 Years of Age
-High school diploma
-Honest, Trustworthy, of good character and have a reputation for fair dealing
-Does NOT have to be a Florida resident or U.S. citizent
Custom Building - ANSWERSBuilding to the owner's specifications.
Farming - ANSWERSSpecializing in one type or style of property, or in a particular
neighborhood.
Appraising - ANSWERSThe art of estimating value of property, where the fee is based
on the time, expense and difficulty resulting in a non-biased defensible opinion of value.
Property Management - ANSWERSManaging property for absentee owners by
maximizing profits and preserving the property.
Florida Statute 475 - ANSWERSThe Florida statute designated as "The Real Estate
License Law."
Local Government Regulations - ANSWERSPlanning, zoning, real estate taxes building
and health codes.
State Government Regulations - ANSWERSRoads, waterways, state documentary
taxes on all property transfers.
Federal Government Regulations - ANSWERSNational monetary supply, legislation
affecting lending institutions.
Dedication - ANSWERSWhen a developer conveys the streets and sidewalks in a
subdivision to the city.
Tract Building - ANSWERSDevelopers utilizing model homes to make sales from.
Speculative Building - ANSWERSA contractor builds on his/her own land and looks for
a buyer after completing construction.
Certified Property Manager - ANSWERSDesignation awarded by the Institute of Real
Estate Management (IREM)
