Extras

Question 1

What is true in buyer broker relationships

Answer 1

Broker is transaction broker, single agent or non representative

Question 2

Which action of federal reserve would have impact of reducing Interest rates

Answer 2

Reserve decreases the reserve requirement

Question 3

A local real estate board or MLS that sets commission rates or splits between cooperating brokers…

Answer 3

Is guilty of anti trust

Question 4

What is true of kickback or rebate ?

Answer 4

Prior to payment parties must be informed

Question 5

Lead based paint disclosure doesn’t apply to which kind of purchase?

Answer 5

Rental or sale of commercial estate before 1978

Question 6

Qualifying a buyer means ?

Answer 6

Determining housing needs

Determining financial abilities

Question 7

Who retains title to property in a Lien theory state ?

Answer 7

Borrower retains title

Question 8

Adjustable rate mortgage disclosure must be made when

Answer 8

Before lona is closed

Question 9

Purpose of Freddie Mac

Answer 9

Provide liquidity to the mortgage market

Question 10

A process where depositors withdraw money from savings and other areas is called ?

Answer 10

Disintermediation

Question 11

Who may write advertisements?

Answer 11

Any sales associate but must be in broker firm name

Question 12

Field of property management has experienced growth due to?

Answer 12

Increase in absentee owners

Question 13

Which chapter of law covers the home owners association disclosure ?

Answer 13

Chapter 720

Question 14

Broker incarcerated for non real estate related activities, what happens to license

Answer 14

Revocated

Question 15

What chapter is FREC rules on statutes ?

Answer 15

Chapter 61J2

Question 16

DBPR longest length of license suspension

Answer 16

10 years

Question 17

How long does broker have to receive verification of receipt of deposit from title company ?

Answer 17

10 days

Question 18

FREC has jurisdiction over what escrow accounts?

Answer 18

Brokers only

Question 19

Riparian and littoral refer to?

Answer 19

Water rights to a lake or river

Question 20

Economic characteristic of real estate that cause land to be affected by actions surrounding the area

Answer 20

Situs

Question 21

Two friends buy property and want one to take over if the other dies, what kind of ownership is this?

Answer 21

Joint tenancy with the right of survivorship

Question 22

What is true of sellers responsibility to convey marketable title ?

Answer 22

Seller required to deliver an update abstract of title

Question 23

Mutual assent of parties to a contract. Also the primary element of a valid contract is known as?

Answer 23

Meeting of the minds