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Question 1 of 100
1. Question
Which of the following duties is owed by a transaction broker?
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Question 2 of 100
2. Question
One of the conditions an adverse possessor must meet in order to obtain legal title to a property is
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Question 3 of 100
3. Question
In Florida, unpaid property taxes become delinquent
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Question 4 of 100
4. Question
A VA certificate of eligibility determines
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Question 5 of 100
5. Question
A house sold for $350,000. The seller paid a brokerage commission of six percent, legal fees of $600, and had other closing costs of $3,000. What are the net proceeds from the sale?
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Question 6 of 100
6. Question
Under federal fair housing laws, the owner of a ten-unit apartment building may legally
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Question 7 of 100
7. Question
Which of the following is an example of blockbusting?
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Question 8 of 100
8. Question
Mortgage financing is the practice of
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Question 9 of 100
9. Question
In what kind of easement is there a dominant tenement and a servient tenement?
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Question 10 of 100
10. Question
According to federal banking law, which of the following is a “federally related transaction” requiring a certified appraiser to perform the appraisal?
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Question 11 of 100
11. Question
A legal description of a property is one which
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Question 12 of 100
12. Question
Sales associate Tracy accepted an earnest money check on Wednesday, December 24th. Tracey must turn the check over to her broker by end of business on
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Question 13 of 100
13. Question
Under the Equal Credit Opportunity Act, a lender, or a real estate agent who assists a seller in qualifying a potential buyer, may not
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Question 14 of 100
14. Question
Which of the following is included in surface rights?
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Question 15 of 100
15. Question
If a borrower obtains an interest-only loan of $75,000 at an annual interest rate of 8%, what is the monthly interest payment?
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Question 16 of 100
16. Question
In what kind of estate does ownership revert to the grantor of the estate if usage fails to conform to a stated condition in the grant?
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Question 17 of 100
17. Question
All broker licensees are required to complete ________ of post-license education.
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Question 18 of 100
18. Question
A contract that conveys an interest in real estate must
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Question 19 of 100
19. Question
Sales involving a(n) _______________ require a disclosure statement to the buyer that the buyer should not execute the contract until he or she has read the disclosure summary.
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Question 20 of 100
20. Question
What is a loan-to-value ratio?
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Question 21 of 100
21. Question
Which of the following is not required for a real estate office in Florida?
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Question 22 of 100
22. Question
If a complainant withdraws a filed complaint, which of the following actions may happen?
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Question 23 of 100
23. Question
In which relationship is a licensee prohibited from assisting both the buyer and the seller in the same transaction?
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Question 24 of 100
24. Question
All nonresidents applying for a license in Florida
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Question 25 of 100
25. Question
A court might grant an easement by prescription if
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Question 26 of 100
26. Question
The act that required federally-related appraisals to be conducted by a certified appraiser is known as
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Question 27 of 100
27. Question
What is the difference between a variance and a nonconforming use?
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Question 28 of 100
28. Question
Which of the following is prohibited?
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Question 29 of 100
29. Question
If a corporation fails to meet its financial obligations on one of its condominium building, creditors and mortgagees may foreclose on _______.
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Question 30 of 100
30. Question
How long is an initial application for licensure valid?
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Question 31 of 100
31. Question
Among a landlord’s primary obligations in a lease is
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Question 32 of 100
32. Question
The agency relationship is defined by
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Question 33 of 100
33. Question
What is the function of a note in a mortgage or trust deed financing arrangement?
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Question 34 of 100
34. Question
Which of the following is true of a contract for deed transaction?
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Question 35 of 100
35. Question
If a joint tenant sells his or her interest to an outside party,
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Question 36 of 100
36. Question
How much documentary stamp tax will be owed on the note when an individual finances the purchase of a $400,000 single-family home in Miami with a cash down payment of $20,000?
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Question 37 of 100
37. Question
The agent and principal may terminate the agency relationship by mutual consent
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Question 38 of 100
38. Question
What is the purpose of the Florida Community Planning Act?
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Question 39 of 100
39. Question
Which of the following is true of an amortizing loan?
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Question 40 of 100
40. Question
If a lender discovers that an applicant for a mortgage loan has borrowed the down payment from a relative and has to repay that loan, the lender is likely to
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Question 41 of 100
41. Question
FREC members serve __________ terms.
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Question 42 of 100
42. Question
A sign at the entrance to a brokerage office
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Question 43 of 100
43. Question
The best comparable property for use in the sales comparison approach is the one that
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Question 44 of 100
44. Question
What is the relationship between master planning and zoning ordinances?
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Question 45 of 100
45. Question
Which of the following items are paid in arrears?
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Question 46 of 100
46. Question
If a licensee changes his residential address, what must he do?
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Question 47 of 100
47. Question
Escrow account records must be kept for
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Question 48 of 100
48. Question
A tenant in common can
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Question 49 of 100
49. Question
The borrower in a mortgage loan transaction is known as the
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Question 50 of 100
50. Question
What kind of interest does the buyer own after a real estate sale contract is signed by the principal parties?
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Question 51 of 100
51. Question
Which of the following situations illustrates the principle of contribution?
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Question 52 of 100
52. Question
If a tenant occupies a leased property without the consent of the landlord after a lease expires, the type of estate that results is called
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Question 53 of 100
53. Question
During the period between the signing of the sale contract and the closing date,
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Question 54 of 100
54. Question
A property buyer gave sales associate Tracy an earnest money check on Tuesday, December 23rd. The check must be deposited into the broker’s escrow account by the end of business on
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Question 55 of 100
55. Question
The fair housing law that first protected people against discrimination in housing based on race was the
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Question 56 of 100
56. Question
When a joint tenant dies, what happens to the tenant’s interest in the estate?
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Question 57 of 100
57. Question
Which of the following statements is true in regard to Florida’s Save Our Homes (SOH) amendment?
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Question 58 of 100
58. Question
If an applicant for a broker license has been licensed as a Florida sales associate during the preceding 5 years,
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Question 59 of 100
59. Question
Blind advertising occurs when
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Question 60 of 100
60. Question
The Federal Reserve’s Regulation Z applies to which loans?
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Question 61 of 100
61. Question
When a sales associate license is first issued, it is on inactive status. How does the sales associate activate the license?
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Question 62 of 100
62. Question
Which of the following statements properly describes the central concept of the sales comparison approach?
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Question 63 of 100
63. Question
If demand is increasing, what would be the likely effect on real estate prices in an area where the municipality has declared a moratorium on new construction?
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Question 64 of 100
64. Question
By definition, personal property
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Question 65 of 100
65. Question
The practice of redlining is specifically prohibited by
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Question 66 of 100
66. Question
When are the special fees for funding the Recovery Fund suspended?
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Question 67 of 100
67. Question
Which of the following statements properly describes the methodology of the cost approach to appraisal?
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Question 68 of 100
68. Question
If escrow funds are placed in an interest-bearing account, to whom must the interest be disbursed?
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Question 69 of 100
69. Question
An implied contract may be deemed to exist if
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Question 70 of 100
70. Question
A licensee may complete a 28-hour education course to reactivate a license that has been on involuntary inactive status for
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Question 71 of 100
71. Question
The real estate industry is regulated by federal, state and local laws, as well as by
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Question 72 of 100
72. Question
When the Probable Cause Panel finds there is no probable cause, what happens next?
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Question 73 of 100
73. Question
Which of these statements is true regarding opinions of title?
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Question 74 of 100
74. Question
If there are conflicting demands for escrow funds, this has to be reported to FREC within _____.
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Question 75 of 100
75. Question
Among the duties of a broker who is acting as a transaction broker, is Copy
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Question 76 of 100
76. Question
A lien is a
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Question 77 of 100
77. Question
The valuable consideration necessary to make a contract valid must be
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Question 78 of 100
78. Question
Which item would be included in the Florida Transfer Disclosure Statement?
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Question 79 of 100
79. Question
Which statement is true regarding Florida brokerage relationships?
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Question 80 of 100
80. Question
If there is a conflict over escrow fund disbursement, what is the first step the broker should take?
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Question 81 of 100
81. Question
A loan applicant has an annual gross income of $36,000. How much will a lender allow the applicant to pay for monthly housing expense to qualify for a loan if the lender uses an income ratio of 28%?
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Question 82 of 100
82. Question
Title can be voluntarily transferred by
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Question 83 of 100
83. Question
Which of the following best describes actual notice?
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Question 84 of 100
84. Question
Which type of map includes the property owner’s name, mailing address, sales data, valuations, building information, and site address?
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Question 85 of 100
85. Question
In assisting a buyer or seller to complete an offer to purchase, what should an agent do to reduce the risk of committing an unauthorized practice of law?
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Question 86 of 100
86. Question
An applicant must take and pass the state licensure exam within _____ of completing prelicense education.
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Question 87 of 100
87. Question
To avoid violating the Real Estate Settlement Procedures Act, parties who are providing services to the buyer or seller in a transaction must
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Question 88 of 100
88. Question
Which of the following contracts can be assigned to another party?
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Question 89 of 100
89. Question
One of the agent’s fiduciary duties that continues even after a listing agreement expires is
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Question 90 of 100
90. Question
In Florida, rental security deposits are limited to
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Question 91 of 100
91. Question
A unique characteristic of a special assessment tax is that
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Question 92 of 100
92. Question
Which of the following is true regarding the sales associate license requirements?
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Question 93 of 100
93. Question
A property is being appraised by the cost approach. The appraiser estimates that the land is worth $10,000 and the replacement cost of the improvements is $75,000. Total depreciation from all causes is $7,000. What is the indicated value of the property?
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Question 94 of 100
94. Question
Which of the following items is paid in arrears?
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Question 95 of 100
95. Question
A sale transaction closes on April 1, the ninety-first day of the tax year. The day of closing belongs to the seller. Real estate taxes for the year, not yet billed, are expected to be $3,150. According to the 365-day method, what is the seller’s share of the tax bill?
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Question 96 of 100
96. Question
Tom obtained his sales associate license in April of 2016 and renewed that license on March 31, 2018. His next renewal date was scheduled for March 31, 2020. However, Tom obtained his broker license on July 8, 2019. When does this broker license need to be renewed?
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Question 97 of 100
97. Question
A homeowner receives a tax bill that includes an amount for the library district, taxed at $1.00 per $1,000, and the fire protection district, taxed at $2.00 per $1,000. How much does the taxpayer have to pay for these two items if the property’s taxable value is $470,00?
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Question 98 of 100
98. Question
By definition, personal property
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Question 99 of 100
99. Question
A buyer’s broker owes the full set of fiduciary duties to
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Question 100 of 100
100. Question
Among the duties of a broker who is acting as a transaction broker, is
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