The difference between what a borrower has to pay to purchase a property and the amount a lender will lend on the property is the

The type of lease in which the landlord pays all of the operating expenses of the property is a(n)

What form of eviction has occurred when a tenant vacates the lease premises and declares the lease void due to the landlord’s failure to maintain habitability?

What is the NFIP responsible for?

Which material was traditionally used for soil stack and soil pipe with joints poured of hot lead?

Which of the following is true of littoral rights?

Members of the U.S. armed forces who are in good standing with FREC are exempt from license renewal requirements for _____ after being discharged from active duty.

If the landlord wants to inspect a rental unit, he is required to give _____ notice prior to entry.

How do you estimate the percentage of annual appreciation?

Carol is a broker who limits her real estate practice to mobile home parks. The FREC recently imposed a disciplinary fine on Carol for an administrative rule violation. What happens next?

Among other provisions, the Superfund Act (CERCLA) and Superfund Amendment and Reauthorization Act of 1986 provided that

A condominium unit can be owned jointly, in trust, in ________, or in any other manner allowed by state law.

The document that provides evidence that a certain property is pledged as collateral for a loan is the

To be enforceable, a contract for the sale of real estate must

What form of protection covers losses resulting from criminal or negligent acts of an employee?

What is the potential gross income minus allowance for vacancy and credit losses?

Which of the following actions is allowed under federal fair housing laws?

Which of the following parties, if any, is exempt from prelicense education?

Michael, a seller, asks his agent how old the buyer was who just made an offer on his house. What should the agent say?

If the owner of property A has a court-ordered easement to drive across property B because it is the only way for A to have access to a public road, the easement is a(n)

How is a lien terminated?

Certain classes of property owner and types of property are exempted or immune from real property taxation. The protected categories include

A sale involving a _________________ requires a disclosure that states there is no guaranteed resale price.

A conventional mortgage loan is one that is

Professional liability is of two general types: unprofessional conduct and _______.

The duty of _____ requires the agent to place the interests of the client above those of all others.

To create an enforceable option-to-buy contract, there must be an exchange of

What happens if a homeowner lets his or her insurance policy lapse?

What type of lease charges varying levels of rent based on the income generated by the tenant?

Which of the following actions represents discriminatory advertising?

Which of the following situations does not require the broker to notify the FREC concerning escrow funds disbursement?

Multiple claims for payments from the Recovery Fund based on the same transaction are limited to a total of ________ regardless of the number of claims, claimants, or land parcels involved.

If the price of an item is increasing, one can usually assume that

How long does a licensee have to notify the DBPR about any address changes?

Certain land use regulations are enacted to ensure that new development does not exceed a local government’s ability to support it. These regulations are referred to as

A group license is used

Routine maintenance of a rental property includes regular inspections, minor repairs, and _______.

The duty of _______ requires the agent to put the client’s interests above those of everyone else.

To engage in business brokerage, a broker must hold a real estate license because

What happens if a licensee fails to maintain his or her E & O insurance?

What types of properties do community association managers take care of?

Which of the following closing costs is a seller customarily responsible for?

Which of the following statements properly describes how to apply the income capitalization approach to appraisal?

Multiplying the tax rate times the taxable value determines the

If the Real Estate Settlement Procedures Act applies to a transaction, the lender must

How long does the initial license application remain valid for?

Cody owns a home where the total tax rate is 10 mills. The assessed property value of the house is $345,000. What is the tax amount?

A seller received a rental payment of $100 in advance. At closing, the seller has “earned” only $32 of this rent. What should appear on the closing statement?

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

The Equal Credit Opportunity Act prohibits a lender from

To obtain a change of the zoning for a particular property, for example, from residential to commercial, a property owner would ask the zoning board for a(n)

What is a lien-theory state?

What year was the EPA established?

Which of the following compensation actions is illegal?

Which part of the complaint process is confidential and not open to the public?

If a license applicant is currently on probation,

If the seller is a foreign person, the buyer must withhold _____ of the purchase price at closing and forward the withheld amount to the IRS.

How much documentary stamp tax will be owed on the deed when an individual finances the purchase of a $400,000 single-family home in Miami with a cash down payment of $20,000?

Condominium ownership consists owning ______ unit(s) together with the associated interest in the common elements.

A shareholder of a co-op acquires a ______ lease.

A breach of contract is

Sue’s active duty army husband was killed in Afghanistan in July of 2016. Sue’s real estate license is due to renew in January of 2020. What license renewal exemptions are available to Sue?

The fiduciary duties an agent owes a customer are honesty, fairness, and _____.

Two important distinctions between a CMA and an appraisal are objectivity and _______.

What is a narrow window next to an entry door?

When an estate is held in a trust, who holds legal title?

Which of the following conditions is necessary for a customer to qualify as “ready, willing, and able?”

Which policy is designed for upper-bracket houses?

If a particular loan falls under Regulation Z’s right of rescission provision,

In a _____ time-share, tenants in common own undivided interests in the property.

How much investment interest on a debt can be deducted from an income property investment?

A transaction broker is not bound by ______ duties.

The ____ authorizes an official to seize and sell a foreclosed property.

The fiduciary duties an agent owes the client are skill, care and ______.

Two individuals can own a house as tenants by the entireties if

What is a tax deed?

When is a contract executory?

Which of the following describes a purchase money mortgage financing arrangement?

Which statute bans sending unwanted email ‘commercial messages’ to wireless devices?

If a potential buyer discloses financial qualifications to a seller’s agent, the agent is required to

In a designated sales associate relationship, what duties must a broker disclose to the clients?

How much is a discount point?

Brokers are required to hold security deposits in a separate trust account. The trust account must be with

The _______ is a measure of efficiency of insulation against heat transfer.

The gross proceeds on a FIRPTA-regulated property sale are $95,000. What is the required withholding amount?

Two people own a house, each having an undivided equal interest. Which of the following best describes what they own?

What is a triangular end wall that is defined by the two slopes of a roof and a line joining the eaves?

When is a deed NOT used to transfer a property to a new owner?

Which of the following entities may not register as a brokerage?

Which statute requires that buyers be given accurate information reflecting their closing costs?

If a seller defaults in a contract, the buyer can sue for ________ to compel the seller to transfer legal title upon payment of the contract price.

In identifying net operating income, building repairs and maintenance expense must be deducted from _______.

How old does an individual need to be to apply for a real estate license?

An office is considered a temporary shelter provided that

A real estate professional who oversees the day-to-day operation of a specific property on behalf of the owner is a(n)

A borrower obtains a 30-year, fully amortizing mortgage loan of $30,000 at 8%. What is the principal balance at the end of the loan term?

The necessary condition of mutual consent may be found lacking in a contract if

Typically, a seller conveys a(n) _______ interest by means of a general warranty deed.

What is a vulcanized sheet of rubber or other seamless material applied to decking called?

When should a buyer undertake a “buyer’s walk-through” of a property that is under contract?

Which of the following is a dual agency situation?

Which statute states that current landowners as well as previous owners of a property may be held liable for environmental violations?

If an agency relationship terminates because one of the parties defaulted, which of the following is true?

In making dollar adjustments in the sales comparison approach, the appraiser

Florida is mandated to provide reciprocal licensure for U.S. military members under

Among the fiduciary duties imposed on a real estate agent is the requirement to

A borrower of a $95,000 interest-only loan makes annual interest payments of $8,312.50. What interest rate is the borrower paying?

The principle underlying depreciation from physical deterioration is that

Unauthorized practice of law is a _____.

What is another name for the Fair Housing Act?

When the DBPR completes its complaint investigation, what action takes place next?

Which of the following is a fibrous material that has been wadded together, backed with foil or paper and formed into a roll?

Which type of tenancy has a specific initial term, but continues after the expiration of that term?

If an applicant was convicted of a crime 7 years prior to applying for licensure, under what circumstances could the applicant be denied a license?

In the final step of an appraisal, the appraiser reconciles the value estimates derived by the various appraisal approaches by

Florida law regulates the broker’s accounting obligations and ________.

An agent has the duty to inform the client of all ______ that might affect the client’s interest in the property transaction.

A licensee who has been on involuntary inactive status for 12-24 months may complete an FREC-prescribed _____ education course towards reactivating the license.

The “bundle of rights” refers to a set of rights

The question of who owns title to a property is generally a function of

Under ______ it is illegal for a real estate licensee to accept a kickback from any business providing a service used to close a real estate transaction.

What is retention of risk?

Which brokerage relationship is a customer required to enter into with a licensee?

Which of the following is a tenant responsibility?

Who may be exempt from completing Florida prelicense education requirements?

If an item to be prorated affects buyer and seller, and no outside party, which of the following statements is true?

In the sales comparison approach to valuation, adjustments can be made to _________________ to arrive at the value estimate

Florida statutes define a resident as a person who has resided in Florida continuously for a period of ____ within the preceding year.

An apartment building that sold for $450,000 had monthly gross rent receipts of $3,000. What is its monthly gross rent multiplier?

A loan clause that gives a lender the option to accelerate a loan if the buyer conveys the property to another party is called the ___________.

The “amount realized from a sale” is also known as the ____________.

The rules passed by the FREC are contained in

Under Florida law, the four resolution alternatives in an escrow conflict are arbitration, mediation, litigation and _______.

What is the basic annual deduction for a residential rental property?

Which home style is an adaptation of classical and Georgian styles featuring tall windows and curved stairs?

Which of the following is an essential element of a valid contract for the sale of real estate?

Words like “brokerage” and _____ are not allowed to be used for advertising teams within a brokerage.

If an owner of real property dies without leaving a will and with no legal heirs, what will generally happen to the property?

In which of the following contact situations would a seller’s agent be expected to disclose his agency relationships?

An encroachment is

The ADA applies to private employers with _____ or more employees.

The seller receives an offer of $650,000 on a property listed for $679,000. How much is the offer as a percent of the listing price?

velopers of cooperatives must provide buyers ________ days after the contract has been signed to cancel.

What is the easiest hazard to detect and mitigate?

Which insurance coverage is used for rental income losses resulting from a disaster?

Which of the following is created to serve the long-term specific needs of its community and is a local unit of special-purpose government?

One of the strengths of the sales comparison approach is that it

If Broker Alice changes her trade name, what regulatory action is required?

In which of the following instances is age discrimination legal?

For whom does Florida waive the initial license application fee?

According to Florida law regarding work and the workplace,

A homeowner sold her house and had net proceeds of $191,000. Her adjusted basis in the home was $176,000. She immediately bought another house for $200,000. What was her capital gain?

The agency relationship between the agent and the client ________compensation.

The special purpose map that shows all of the parcels within a city and is used to assess property is called a

What are expenses for constructing major new improvements called?

What is the first step in the sales comparison approach?

Which insurance policy covers the HVAC system?

Which of the following is NOT permitted to hold third party funds in an escrow account?

Jessica bought a property for $300,000 with a loan of $285,000. The house has appreciated $35,000 and she has reduced the original loan by $10,000. What is Jessica’s current equity?

If the comparable is better than the subject, _______ comparable.

Homeowner policies should insure the home for at least ____ of the home’s replacement cost.

Except in cases of an emergency, landlords must give tenants at least __________ notice before entering the rental unit to make repairs.

Adding a bathroom to a house raises the appraised value by $10,000. This is the result of which principle of value in operation?.

A homeseller signs a listing agreement with a broker and the next week decides not to sell and revokes the listing. Which of the following is true?

The benefits a buyer expects to derive from a property over a holding period determines what the buyer is willing to pay for it. What is this principle of value called?

The three types of foreclosure processes that enforce mortgage liens are judicial foreclosure, non-judicial foreclosure and ______ foreclosure.

What are the dimensions of a township?

What is the increment of excess value created by assemblage called?

Which insurance policy includes more than one type of coverage?

Which of the following is the term for the practice of inducing owners in an area to sell or rent in order to avoid impending change in the ethnic makeup of the neighborhood?

If the DBPR fails to approve or deny a license application within 60 days, what will happen?

How can Allison defer her capital gains tax?

Duplicating brokerage records is prohibited when

All licensees must complete continuing education each license period that includes 3 hours of

A house bought for $300,000 appreciates $10,500 each year for 4 years. What is the total appreciation?

The classes protected against discrimination by the Fair Housing Act of 1968 are

The type of deed that offers the grantee the fullest protection against claims to the title is the

What are the principal areas of real estate regulation?

What is the legal action called where, in a trust dispute, a broker holding the disputed trust funds removes himself from the dispute by placing the funds in a court depository?

Which law protects consumers from a developer’s misrepresentation of material facts about a property being purchased sight unseen through means of interstate commerce or the mail?

Which of the following is true of a joint tenancy?

May Southfeldt believes a real estate agent has kept her from seeing a certain property for rent because she is a woman. What actions should she take if she wants legal satisfaction for her complaint?

If the duration of an owner’s rights in an estate cannot be determined, the owner possesses

How do you calculate the value of an income property?

During a conflict over disbursement of escrow funds, under what condition would a declaratory judgment be sought?