Florida Real Estate Exam Flashcards
(271) A bookkeeping entry on the left side of an account, recording the creation of or addition to an asset or an expense, or a reduction or elimination of a liability or item of equity or revenue, is a:
(a) credit
(b) debit
(c) debt
(d) withdrawal
B
(49) What are the three basic types of easements?
1 - Easement Appurtenant: It runs with the land and is conveyed when the land is conveyed.
2 - Easement in Gross: It benefits a person or company (usually a utility company) and is not a parcel.
3 - Easement by Prescription: It results from continuous and open use of the land for 5 years or more (not to be confused with adverse posession.)
(49) An Easement by Prescription results from continuous and open use of the land for how many years?
Five years
(76) How big is a section of land, and how many acres does it contain?
A section is one mile on a side (e.g. 4 mile perimeter) and contains 640 acres.
(76) A 640 acre block of land, one mile square, is called what?
A section of land.
(78) How many square feet are in a standard acre?
43,560 square feet.
(78) How many feet are in a rod?
16.5 feet.
(78) What length is a chain (of measurement)?
66 feet (or 4 rods)
(78) How many square rods are in one square chain?
16
(78) How many square rods are there in an acre?
There are 160 square rods (10 square chains) in an acre.
(78) How many square feet are in a square rod?
272.25 square feet.
(78) How many square feet are in a square chain?
4,356 square feet.
(78) How many rods are in a linear mile?
320 rods.
(1) Which of the following is responsible for establishing application fees for broker and salesperson licenses and renewals?
(a) the FREC
(b) the Governor
(c) the Florida Attorney General
(d) real estate brokerage firms
A (The FREC)
(2) Which of the following is a duty of the Florida Real Estate Commission?
(a) fostering the education of real estate licensees concerning ethical, business and legal principles which should govern their conduct
(b) legislating laws concerning real and personal property
(c) enforcing the state’s Deceptive Trade Practices Act
(d) enforcing the state’s Occupations Code
A
(3) All the following are powers and duties of the Florida Real Estate Commission except:
(a) fostering the education of real estate licensees concerning ethical and legal conduct
(b) approving real estate educational courses
(c) selling publications for real estate licensees’ study and guidance
(d) passing laws to regulate the transfer of property
D - The Florida legislature, not the FREC, is charged with passing such laws.
(4) “Unreasonable restraint” best correlates to:
(a) free trade
(b) terrorism
(c) monopolies
(d) competition
C - Unreasonable restraint in trade results from attempts to monopolise markets
(5) How old does an applicant for a Florida real estate license need to be?
Must be at least 18, hold a high school diploma or equivalent, and be of good character.