Compass FL RE CE Final Exam II

Who is exempt from license renewal requirements?

Mark was just issued his license, but he decides to wait a few months before commencing his

real estate practice. What is the status of his license?

The purpose of (the) _______ is to reduce the financial impact of flooding on both private and

public structures.

Which insurance policy is used for older homes with replacement costs higher than the home’s

market value?

How much time must a landlord give a tenant to vacate the premises during the eviction process?

Which of the following is a tenant obligation?

Which of the following is a legal kickback?

Which of the following is true about real estate office signage?

How many Articles are included in Part II of the Code of Ethics?

What exceptions exist allowing an agent to violate Federal Fair Housing Laws?

Capital gain analysis and _______ are principal types of financial analysis done on real property.

When are cash reserves deductible for tax purposes?

Which duty prevents the agent from revealing any information that would harm the client’s

bargaining position?

Which of the following is a residential sale transaction?

The Florida Statute of Frauds tells us

The standard Florida Sales and Purchase Contract

The protected classes provision under the current Title VIII of the Civil Rights Act protects

color, religion, national origin, sex, familial status, handicapped status and ________.

Who oversees complaints filed for Fair Housing violations?

Well-established strategies for managing risk are reduction, transference and _______.

Which risk management strategy involves passing the risk on to another party?

What does Section I of the Code of Ethics cover?

Business ethics deals with

In real estate, _____ is the amount of property available for sale or lease at any given time.

Which principle of value states that a buyer will pay no more for a property than the buyer would

have to pay for an equally desirable and available property?

The process where a third-party works with both sides of a dispute to develop a compromise or

solution is through ____________.

The agent who starts the chain of events that leads to the sale of the property and who is entitled to

the commission is known to be _____________ of the sale.

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__________ can be caused by discrimination against the protected class under the Code of Ethics, or

fraud.

Under TILA-RESPA Law, how many days prior to closing must the buyer get a copy of the Closing Disclosure Statement?

What is the broker’s primary task in the pre-closing procedures?

Which of the following is a common proration found in almost all closing disclosure statements?