FL Real Estate 100 Exam Questions Flashcards
How many consumer members are there of the Florida Real Estate Commission (FREC)?
a. 1
b. 2
c. 3
d. 4
b. 2
7 members
4 Real Estate Brokers
1 Real Estate Broker or Sales Associate
2 Consumer Members
Florida Law requires Real Estate Appraisers to abide by the:
a. NAR
b. REALTOR
c. BPO
d. USPAP
d. USPAP
Uniform Standards of Professional Appraisal Practice (USPAP).
Tony has a 4 year real estate degree from a FL university which Florida real estate course is he not exempt from?
a. Post license course
b. Broker Pre-License course
c. Continuing Education
d. Sales associate pre-licensing course
c. Continuing education
Which Florida statute establishes real estate licensees’ legal rights and responsibilities?
a. 455
b. 475
c. 120
d. 61J2
a. 475
Which Florida statute or code covers the commissions administrative rules that include detailed principles for real estate practice?
a. 20
b. 455
c. 61J2
d. 475
c. 61J2
Chapter 61J2 is the Florida Real Estate Commission’s administrative rules pursuant to chapter 120 that include detailed principles for real estate practice.
It is an extension of the chapter 425 provisions.
61J2
Which statute established general provisions for the Department of Business and Professional Regulation?
a. Chapter 455
b. Chapter 475
c. Chapter 20
d. Chapter 120
a. Chapter 455
Florida Statute Chapter 455 establishes the general provisions for Business and Professional Regulation, including provisions for military personnel on active duty, spouses of military personnel on active duty, and immigrants practicing real estate.
Which type of agency is illegal in Florida?
a. Dual
b. Universal
c. Special
d. General
a. Dual
Disclosed dual agency as an authorized form of representation by a real estate licensee in this state is expessly revoked.
Florida’s realestate disclosure requirments apply in which of the following situations?
a. The transaction involves a non-residential property
b. The signing of a simple month-to-month lease by a
residential tenant
c. The 3-residential-unit property is being rented with an
option to buy
d. The broker is engaged in a coversation with an
industrial tenant where no personal information is
exchanged
c. The 3-residential-unit property is being rented with an
option to buy
The real estate licensee disclosure requirements of this section do not apply to: nonresidential transactions; the rental or leasing of real property, unless an option to purchase all or a portion of the property improved with four or fewer residetial units is given.
The Florida Antitrust Act of 1980 was enacted?
a. To complement the federal antitrust laws
b. To replace federal antitrust regulations in Florida
c. Because there are no federal antitrust
d. Because federal antitrust laws are outlined
a. To complement the federal antitrust laws
The legislature declares it to be the purpose of this act to complement the body of federal law prohibiting restraints of trade or comerce in order to foster effective competition.
The Florida Real Estate Recovery Fund was created to reimburse?
a. Punitive damages only
b. Monetary damages only
c. Monetary and Punitive damages
d. none of the above
b. Monetary damages only
This is statutory. Monetary damages are also referred to as compensatory damages.
According to Florida state law, a licensed broker?
a. May only do a CMA
b. May not do an apprasal
c. May do both a CMA and an appraisal
d. Who is doing an appraisal is exempt from the USPAP
c. May do both a CMA and an appraisal
A licensed broker or sales associate may do a comparitive market analysis or an appraisal. The appraisal must meet Uniform Standards of Professional Appraisal Practice (USPAP).
Because the Florida Real Estate Commission may grant or revoke real estate licenses and investigate license law violations, it it said to have?
a. Quasi-judicial power
b. Quasi-legislative power
c. Executive power
d. Administrative power only
a. Quasi-judicial power
Judicial power is the power associated with administering and dealing with violations of the law.
What law was designed to protect Florida’s agricultural land from excessive taxation?
a. Homestead Act
b. Green Belt Law
c. Farm Exemption Act
d. Save Our Home Admendment
b. Green Belt Law
The Green Belt Law provides for somewhat favorable tax treatment of agricultural properties.
A residential sale in Florida would not include a?
a. 5 - acre farm
b. Six-unit garden apartment building
c. One-to four-family house
d. 15 - acre piece of vacant land approved for
construction of 3 houses
b. Six-unit garden apartment building
The statutes exclude residential buildings of five or more units from the definition of a residential sale.
Florida state law places primary responsibility for accounting and delivery of finds in connections with a closing on the?
a. Brokers
b. Escrow agents
c. Attorneys
d. Sales associates
a. Brokers
Attorneys and escrow agents can be be hired to handle closings, and sales associates may actually handle closings on behalf of the brokers, but primary resposibility, according to Florida license law, rests with the broker.
