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Question 1 of 185
1. Question
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
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Question 2 of 185
2. Question
The type of lease in which the landlord pays all of the operating expenses of the property is a(n)
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Question 3 of 185
3. Question
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?
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Question 4 of 185
4. Question
What is the NFIP responsible for?
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Question 5 of 185
5. Question
Which material was traditionally used for soil stack and soil pipe with joints poured of hot lead?
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Question 6 of 185
6. Question
Which of the following is true of littoral rights?
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Question 7 of 185
7. Question
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.
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Question 8 of 185
8. Question
If the landlord wants to inspect a rental unit, he is required to give _____ notice prior to entry.
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Question 9 of 185
9. Question
How do you estimate the percentage of annual appreciation?
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Question 10 of 185
10. Question
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?
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Question 11 of 185
11. Question
Among other provisions, the Superfund Act (CERCLA) and Superfund Amendment and Reauthorization Act of 1986 provided that
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Question 12 of 185
12. Question
A condominium unit can be owned jointly, in trust, in ________, or in any other manner allowed by state law.
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Question 13 of 185
13. Question
The document that provides evidence that a certain property is pledged as collateral for a loan is the
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Question 14 of 185
14. Question
To be enforceable, a contract for the sale of real estate must
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Question 15 of 185
15. Question
What form of protection covers losses resulting from criminal or negligent acts of an employee?
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Question 16 of 185
16. Question
What is the potential gross income minus allowance for vacancy and credit losses?
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Question 17 of 185
17. Question
Which of the following actions is allowed under federal fair housing laws?
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Question 18 of 185
18. Question
Which of the following parties, if any, is exempt from prelicense education?
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Question 19 of 185
19. Question
Michael, a seller, asks his agent how old the buyer was who just made an offer on his house. What should the agent say?
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Question 20 of 185
20. Question
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)
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Question 21 of 185
21. Question
How is a lien terminated?
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Question 22 of 185
22. Question
Certain classes of property owner and types of property are exempted or immune from real property taxation. The protected categories include
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Question 23 of 185
23. Question
A sale involving a _________________ requires a disclosure that states there is no guaranteed resale price.
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Question 24 of 185
24. Question
A conventional mortgage loan is one that is
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Question 25 of 185
25. Question
Professional liability is of two general types: unprofessional conduct and _______.
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Question 26 of 185
26. Question
The duty of _____ requires the agent to place the interests of the client above those of all others.
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Question 27 of 185
27. Question
To create an enforceable option-to-buy contract, there must be an exchange of
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Question 28 of 185
28. Question
What happens if a homeowner lets his or her insurance policy lapse?
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Question 29 of 185
29. Question
What type of lease charges varying levels of rent based on the income generated by the tenant?
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Question 30 of 185
30. Question
Which of the following actions represents discriminatory advertising?
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Question 31 of 185
31. Question
Which of the following situations does not require the broker to notify the FREC concerning escrow funds disbursement?
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Question 32 of 185
32. Question
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.
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Question 33 of 185
33. Question
If the price of an item is increasing, one can usually assume that
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Question 34 of 185
34. Question
How long does a licensee have to notify the DBPR about any address changes?
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Question 35 of 185
35. Question
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
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Question 36 of 185
36. Question
A group license is used
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Question 37 of 185
37. Question
Routine maintenance of a rental property includes regular inspections, minor repairs, and _______.
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Question 38 of 185
38. Question
The duty of _______ requires the agent to put the client’s interests above those of everyone else.
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Question 39 of 185
39. Question
To engage in business brokerage, a broker must hold a real estate license because
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Question 40 of 185
40. Question
What happens if a licensee fails to maintain his or her E & O insurance?
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Question 41 of 185
41. Question
What types of properties do community association managers take care of?
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Question 42 of 185
42. Question
Which of the following closing costs is a seller customarily responsible for?
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Question 43 of 185
43. Question
Which of the following statements properly describes how to apply the income capitalization approach to appraisal?
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Question 44 of 185
44. Question
Multiplying the tax rate times the taxable value determines the
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Question 45 of 185
45. Question
If the Real Estate Settlement Procedures Act applies to a transaction, the lender must
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Question 46 of 185
46. Question
How long does the initial license application remain valid for?
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Question 47 of 185
47. Question
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?
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Question 48 of 185
48. Question
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?
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Question 49 of 185
49. 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 50 of 185
50. Question
The Equal Credit Opportunity Act prohibits a lender from
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Question 51 of 185
51. Question
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)
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Question 52 of 185
52. Question
What is a lien-theory state?
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Question 53 of 185
53. Question
What year was the EPA established?
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Question 54 of 185
54. Question
Which of the following compensation actions is illegal?
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Question 55 of 185
55. Question
Which part of the complaint process is confidential and not open to the public?
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Question 56 of 185
56. Question
If a license applicant is currently on probation,
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Question 57 of 185
57. Question
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.
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Question 58 of 185
58. Question
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?
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Question 59 of 185
59. Question
Condominium ownership consists owning ______ unit(s) together with the associated interest in the common elements.
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Question 60 of 185
60. Question
A shareholder of a co-op acquires a ______ lease.
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Question 61 of 185
61. Question
A breach of contract is
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Question 62 of 185
62. Question
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?
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Question 63 of 185
63. Question
The fiduciary duties an agent owes a customer are honesty, fairness, and _____.
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Question 64 of 185
64. Question
Two important distinctions between a CMA and an appraisal are objectivity and _______.
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Question 65 of 185
65. Question
What is a narrow window next to an entry door?
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Question 66 of 185
66. Question
When an estate is held in a trust, who holds legal title?
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Question 67 of 185
67. Question
Which of the following conditions is necessary for a customer to qualify as “ready, willing, and able?”
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Question 68 of 185
68. Question
Which policy is designed for upper-bracket houses?
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Question 69 of 185
69. Question
If a particular loan falls under Regulation Z’s right of rescission provision,
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Question 70 of 185
70. Question
In a _____ time-share, tenants in common own undivided interests in the property.
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Question 71 of 185
71. Question
How much investment interest on a debt can be deducted from an income property investment?
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Question 72 of 185
72. Question
A transaction broker is not bound by ______ duties.
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Question 73 of 185
73. Question
The ____ authorizes an official to seize and sell a foreclosed property.
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Question 74 of 185
74. Question
The fiduciary duties an agent owes the client are skill, care and ______.
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Question 75 of 185
75. Question
Two individuals can own a house as tenants by the entireties if
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Question 76 of 185
76. Question
What is a tax deed?
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Question 77 of 185
77. Question
When is a contract executory?
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Question 78 of 185
78. Question
Which of the following describes a purchase money mortgage financing arrangement?
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Question 79 of 185
79. Question
Which statute bans sending unwanted email ‘commercial messages’ to wireless devices?
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Question 80 of 185
80. Question
If a potential buyer discloses financial qualifications to a seller’s agent, the agent is required to
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Question 81 of 185
81. Question
In a designated sales associate relationship, what duties must a broker disclose to the clients?
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Question 82 of 185
82. Question
How much is a discount point?
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Question 83 of 185
83. Question
Brokers are required to hold security deposits in a separate trust account. The trust account must be with
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Question 84 of 185
84. Question
The _______ is a measure of efficiency of insulation against heat transfer.
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Question 85 of 185
85. Question
The gross proceeds on a FIRPTA-regulated property sale are $95,000. What is the required withholding amount?
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Question 86 of 185
86. Question
Two people own a house, each having an undivided equal interest. Which of the following best describes what they own?
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Question 87 of 185
87. Question
What is a triangular end wall that is defined by the two slopes of a roof and a line joining the eaves?
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Question 88 of 185
88. Question
When is a deed NOT used to transfer a property to a new owner?
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Question 89 of 185
89. Question
Which of the following entities may not register as a brokerage?
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Question 90 of 185
90. Question
Which statute requires that buyers be given accurate information reflecting their closing costs?
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Question 91 of 185
91. Question
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.
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Question 92 of 185
92. Question
In identifying net operating income, building repairs and maintenance expense must be deducted from _______.
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Question 93 of 185
93. Question
How old does an individual need to be to apply for a real estate license?
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Question 94 of 185
94. Question
An office is considered a temporary shelter provided that
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Question 95 of 185
95. Question
A real estate professional who oversees the day-to-day operation of a specific property on behalf of the owner is a(n)
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Question 96 of 185
96. Question
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?
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Question 97 of 185
97. Question
The necessary condition of mutual consent may be found lacking in a contract if
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Question 98 of 185
98. Question
Typically, a seller conveys a(n) _______ interest by means of a general warranty deed.
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Question 99 of 185
99. Question
What is a vulcanized sheet of rubber or other seamless material applied to decking called?
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Question 100 of 185
100. Question
When should a buyer undertake a “buyer’s walk-through” of a property that is under contract?
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Question 101 of 185
101. Question
Which of the following is a dual agency situation?
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Question 102 of 185
102. Question
Which statute states that current landowners as well as previous owners of a property may be held liable for environmental violations?
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Question 103 of 185
103. Question
If an agency relationship terminates because one of the parties defaulted, which of the following is true?
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Question 104 of 185
104. Question
In making dollar adjustments in the sales comparison approach, the appraiser
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Question 105 of 185
105. Question
Florida is mandated to provide reciprocal licensure for U.S. military members under
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Question 106 of 185
106. Question
Among the fiduciary duties imposed on a real estate agent is the requirement to
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Question 107 of 185
107. Question
A borrower of a $95,000 interest-only loan makes annual interest payments of $8,312.50. What interest rate is the borrower paying?
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Question 108 of 185
108. Question
The principle underlying depreciation from physical deterioration is that
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Question 109 of 185
109. Question
Unauthorized practice of law is a _____.
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Question 110 of 185
110. Question
What is another name for the Fair Housing Act?
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Question 111 of 185
111. Question
When the DBPR completes its complaint investigation, what action takes place next?
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Question 112 of 185
112. Question
Which of the following is a fibrous material that has been wadded together, backed with foil or paper and formed into a roll?
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Question 113 of 185
113. Question
Which type of tenancy has a specific initial term, but continues after the expiration of that term?
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Question 114 of 185
114. Question
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?
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Question 115 of 185
115. Question
In the final step of an appraisal, the appraiser reconciles the value estimates derived by the various appraisal approaches by
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Question 116 of 185
116. Question
Florida law regulates the broker’s accounting obligations and ________.
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Question 117 of 185
117. Question
An agent has the duty to inform the client of all ______ that might affect the client’s interest in the property transaction.
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Question 118 of 185
118. Question
A licensee who has been on involuntary inactive status for 12-24 months may complete an FREC-prescribed _____ education course towards reactivating the license.
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Question 119 of 185
119. Question
The “bundle of rights” refers to a set of rights
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Question 120 of 185
120. Question
The question of who owns title to a property is generally a function of
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Question 121 of 185
121. Question
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.
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Question 122 of 185
122. Question
What is retention of risk?
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Question 123 of 185
123. Question
Which brokerage relationship is a customer required to enter into with a licensee?
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Question 124 of 185
124. Question
Which of the following is a tenant responsibility?
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Question 125 of 185
125. Question
Who may be exempt from completing Florida prelicense education requirements?
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Question 126 of 185
126. Question
If an item to be prorated affects buyer and seller, and no outside party, which of the following statements is true?
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Question 127 of 185
127. Question
In the sales comparison approach to valuation, adjustments can be made to _________________ to arrive at the value estimate
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Question 128 of 185
128. Question
Florida statutes define a resident as a person who has resided in Florida continuously for a period of ____ within the preceding year.
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Question 129 of 185
129. Question
An apartment building that sold for $450,000 had monthly gross rent receipts of $3,000. What is its monthly gross rent multiplier?
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Question 130 of 185
130. Question
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 ___________.
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Question 131 of 185
131. Question
The “amount realized from a sale” is also known as the ____________.
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Question 132 of 185
132. Question
The rules passed by the FREC are contained in
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Question 133 of 185
133. Question
Under Florida law, the four resolution alternatives in an escrow conflict are arbitration, mediation, litigation and _______.
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Question 134 of 185
134. Question
What is the basic annual deduction for a residential rental property?
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Question 135 of 185
135. Question
Which home style is an adaptation of classical and Georgian styles featuring tall windows and curved stairs?
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Question 136 of 185
136. Question
Which of the following is an essential element of a valid contract for the sale of real estate?
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Question 137 of 185
137. Question
Words like “brokerage” and _____ are not allowed to be used for advertising teams within a brokerage.
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Question 138 of 185
138. Question
If an owner of real property dies without leaving a will and with no legal heirs, what will generally happen to the property?
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Question 139 of 185
139. Question
In which of the following contact situations would a seller’s agent be expected to disclose his agency relationships?
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Question 140 of 185
140. Question
An encroachment is
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Question 141 of 185
141. Question
The ADA applies to private employers with _____ or more employees.
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Question 142 of 185
142. Question
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?
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Question 143 of 185
143. Question
velopers of cooperatives must provide buyers ________ days after the contract has been signed to cancel.
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Question 144 of 185
144. Question
What is the easiest hazard to detect and mitigate?
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Question 145 of 185
145. Question
Which insurance coverage is used for rental income losses resulting from a disaster?
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Question 146 of 185
146. Question
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?
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Question 147 of 185
147. Question
One of the strengths of the sales comparison approach is that it
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Question 148 of 185
148. Question
If Broker Alice changes her trade name, what regulatory action is required?
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Question 149 of 185
149. Question
In which of the following instances is age discrimination legal?
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Question 150 of 185
150. Question
For whom does Florida waive the initial license application fee?
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Question 151 of 185
151. Question
According to Florida law regarding work and the workplace,
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Question 152 of 185
152. Question
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?
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Question 153 of 185
153. Question
The agency relationship between the agent and the client ________compensation.
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Question 154 of 185
154. Question
The special purpose map that shows all of the parcels within a city and is used to assess property is called a
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Question 155 of 185
155. Question
What are expenses for constructing major new improvements called?
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Question 156 of 185
156. Question
What is the first step in the sales comparison approach?
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Question 157 of 185
157. Question
Which insurance policy covers the HVAC system?
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Question 158 of 185
158. Question
Which of the following is NOT permitted to hold third party funds in an escrow account?
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Question 159 of 185
159. Question
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?
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Question 160 of 185
160. Question
If the comparable is better than the subject, _______ comparable.
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Question 161 of 185
161. Question
Homeowner policies should insure the home for at least ____ of the home’s replacement cost.
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Question 162 of 185
162. Question
Except in cases of an emergency, landlords must give tenants at least __________ notice before entering the rental unit to make repairs.
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Question 163 of 185
163. Question
Adding a bathroom to a house raises the appraised value by $10,000. This is the result of which principle of value in operation?.
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Question 164 of 185
164. Question
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?
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Question 165 of 185
165. Question
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?
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Question 166 of 185
166. Question
The three types of foreclosure processes that enforce mortgage liens are judicial foreclosure, non-judicial foreclosure and ______ foreclosure.
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Question 167 of 185
167. Question
What are the dimensions of a township?
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Question 168 of 185
168. Question
What is the increment of excess value created by assemblage called?
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Question 169 of 185
169. Question
Which insurance policy includes more than one type of coverage?
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Question 170 of 185
170. Question
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?
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Question 171 of 185
171. Question
If the DBPR fails to approve or deny a license application within 60 days, what will happen?
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Question 172 of 185
172. Question
How can Allison defer her capital gains tax?
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Question 173 of 185
173. Question
Duplicating brokerage records is prohibited when
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Question 174 of 185
174. Question
All licensees must complete continuing education each license period that includes 3 hours of
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Question 175 of 185
175. Question
A house bought for $300,000 appreciates $10,500 each year for 4 years. What is the total appreciation?
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Question 176 of 185
176. Question
The classes protected against discrimination by the Fair Housing Act of 1968 are
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Question 177 of 185
177. Question
The type of deed that offers the grantee the fullest protection against claims to the title is the
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Question 178 of 185
178. Question
What are the principal areas of real estate regulation?
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Question 179 of 185
179. Question
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?
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Question 180 of 185
180. Question
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?
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Question 181 of 185
181. Question
Which of the following is true of a joint tenancy?
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Question 182 of 185
182. Question
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?
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Question 183 of 185
183. Question
If the duration of an owner’s rights in an estate cannot be determined, the owner possesses
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Question 184 of 185
184. Question
How do you calculate the value of an income property?
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Question 185 of 185
185. Question
During a conflict over disbursement of escrow funds, under what condition would a declaratory judgment be sought?
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