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Real Estate Express Quiz's > Florida Real Estate Exam (70 Questions) > Flashcards

Florida Real Estate Exam (70 Questions) Flashcards

1
Q

Which of the following classes are protected under the americans with disablities act
A) intellectually disabled individuals (formerly mental retardation)
B) people confined to wheelchairs
C) HIV positive individuals
D) all of the above

A

D) all of the above

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2
Q

The license law is administered by
A) The commission of florida real estate
B) department of real estate
C) florida real estate commission
D) department of state florida

A

C) florida real estate commission

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3
Q

The florida licensing law governing the activities of real estate practitioners is
A) title VII
B) statue 110
C) the administrative code
D) chapter 475

A

D) chapter 475

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4
Q

a summary suspension may be issued:
A) to summarize the circumstances that led to FREC decision to suspend the subject’s license
B) In liue of any further action to be taken against the licensee
C) It is easily determinable that the licensee is guilty of the allegations thus halting the complaint process
D) If the allegations against the subject are so severe that the DBPR feels it crucial to immediately suspend the licensee

A

D) If the allegations against the subject are so severe that the DBPR feels it crucial to immediately suspend the licensee

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5
Q

A broker who has limited representation to a buyer, a seller, or both, in a real estate transaction, but does not represent either in a fiduciary capacity is a:
A) non-representation broker
B) dual agent
C) single agent
D) transaction broker

A

D) transaction broker

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6
Q

The florida americans with disablities accessibility implementation act accomplished all of these EXCEPT:
A) incorporated the americans with disabilities act of 1990
B) reduced the federal requirements to ease the burden for florida builders
C) provided reasonable accommodations for those with disabilities in the workplace
D) created law that is more stringent than the ada

A

B) reduced the federal requirements to ease the burden for florida builders

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7
Q

florida statute defines immediately for the broker to deposit earnest monies that are turned over to him by an assoicate as:
A) by the end of the week
B) within one business day
C) within 24 hours
D) within three business days

A

D) within three business days

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8
Q

a salesperson who has just listed a home for a neighbor has the following relationship with the neighbor:
A) the neighbor is the listings broker’s customer and not the salesperson’s
B) the neighbor is the salesperson customer
C) the neighbor is the customer
D) the neighbor is the client of the broker

A

D) the neighbor is the client of the broker

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9
Q

Real estate is:
A) land and all permanent attachments to it
B) land and everything growing on it
C) landing and buildings
D) land only

A

A) land and all permanent attachments to it

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10
Q

Salesperson Jerry lists Bill’s house for sale as a single agent. under which of these circumstances would the listing agreement be terminated
A) bill accepts the offer
B) at the will of either jerry or bill w/o notice
C) the date the house is listed placed in the MLS
D) upon renunciation by jerry and with jerry’s broker having full knowledge of this

A

D) upon renunciation by jerry and with jerry’s broker having full knowledge of this

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11
Q

Real estate brokerage offices:
A) may be within the home of a salesperson
B) may not operate within a personal residence
C) may be located outside the state of florida
D) must be in an enclosed room in a stationary building

A

D) must be in an enclosed room in a stationary building

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12
Q

Which of the follwing agency relationships in florida has the fewest number of duties and obligations
A) single agent
B) transaction broker
C) non-representation
D) all of the above

A

C) non-representation

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13
Q

Advertising in which a reasonable person would not know they are dealing with a real estate licence is called an :
A) ostensible ad
B) ambiguous ad
C) erroneous ad
D) blind ad

A

D) blind ad

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14
Q

The DRE will NOT investigate a complaint if:
A) the original complainant withdraws the complaint
B) it is an anonymous complaint
C) if it is not put in writing and signed
D) it has reason to believe the allegation is true

A

C) if it is not put in writing and signed

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15
Q

An agency disclosure form is NOT required for which agency relationship?
A) single agent
B) no representation broker
C) transaction broker
D) none of the above

A

D) none of the above

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16
Q

Jim a salesperson, runs an ad for his friend, Kate, advertising Kate’s house for rent as Kate has moved to New jersey. When the lease is executed, Kate mails Jim a check for $500 for handling the rental. This would be allowable if:
A) Jim has a written agreement to lease and he submits the check to his broker
B) Kate does not report this on her income tax
C) Kate and Jim keep it between themselves
D) Jim holds an inactive florida real estate license

A

A) Jim has a written agreement to lease and he submits the check to his broker

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17
Q

The first major civil rights legislation dealing with housing was passed in:
A) 1826
B) 1866
C) 1975
D) 1875

A

B) 1866

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18
Q

The salesperson pre-license course consists of how many hours of instructions
A) 63
B) 72
C) 45
D) 14

A

A) 63

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19
Q

Which of the following acts would be prohibited under the federal fair housing laws”
A) a catholic organization renting out rooms in a guest house near one of its hospitals
B) a Brazilian advertising his house for rent “to Brazilians only”
C) the American legion operating a home for veterans as well as the general public
D) a greek orthodox church giving preferential treatment to parishioners in the rental of its housing

A

B) a Brazilian advertising his house for rent “to Brazilians only”

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20
Q

Which of these is TRUE reguarding FREC?
A) it consists of 7 members, appointed by a senator
B) 5 of 7 must be brokers, active for the last 4 years
C) 2 members must have never been a licensee
D) at least 1 member must be 59 years older

A

C) 2 members must have never been a licensee

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21
Q

Upon termination of the lease, and if the landlord does not intend to impose a claim on the security deposit, the landlord has how long to return the security deposit to the tenant
A) 15 days
B) 30 days
C) 60 days
D) 45 days

A

A) 15 days

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22
Q

An involuntary inactive license expires and becomes void if no further action is taken within
A) two years
B) one year
C) five years
D) four years

A

A) two years

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23
Q

In real estate transaction, the listing broker has an agency relationship with:
A) the buyer
B) the seller
C) none of the parties in the transaction
D) all parties in the transaction

A

B) the seller

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24
Q

The DBPR performs all of the following functions EXCEPT:
A) adopt rules establishing a procedure for biennial renewal of licenses
B) appoint the executive director of the florida real estate commision
C) disallow the florida real estate commission from issuing subpoenas
D) approve application for professional licenses that meet all statutory and rule requirements for licensure

A

C) disallow the florida real estate commission from issuing subpoenas

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25
Q

Which of the following is NOT a physical characteristic of land
A) immobility
B) uniqueness
C) beauty
D) indestructibility

A

C) beauty

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26
Q

In order for the claimant to make a successful claim against the real estate recovery fund, the claimant must do all of these except:
A) file a writ of execution
B) obtain a judgment
C) successfully sue the brokerage firm in court
D) successfully sue the licensee in a civil suit

A

C) successfully sue the brokerage firm in court

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27
Q

Members of the commission are:
A) appointed by the DBPR secretary and approved by the senate
B) appointed by the governor subject to confirmation by the secretary of state
C) appointed by the governor subject to confirmation by the senate
D) appointed by the DBPR secretary and approved by the governor

A

B) appointed by the governor subject to confirmation by the secretary of state

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28
Q

Advertisements that are deemed false, deceptive, or misleading could cause the broker to be punished by of any of these except:
A) administrative fine up to $10,000
B) administrative fine up to $5,000
C) disciptlinary action even if the ad were placed by an assoicate
D) suspension of license

A

A) administrative fine up to $10,000

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29
Q

how much are Doc Stamps on the Deed
A) 50 cents
B) 5.00
C) 1.00
D) 70 cents per $100.00

A

D) 70 cents per $100.00

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30
Q

How much are doc stamps on the note
A) 25 cent
B) 1.00
C) 35 cents per 100
D) 70 cents

A

C) 35 cents per 100

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31
Q

How much is an intangible tax on a real estate purchase mortgage
A) .002
B) .5
C) 1
D) 5

A

A) .002

32
Q

Joe bought a house for 125,000 CASH. How much will he have to pay in doc stamp (if the seller will not pay)
A) $950
B) $795
C) $875
D) $0

A

C) $875

33
Q

When a broker receives commission for the sale of a property even though she did not sell it, she most likely has which type agreement with the property owner
A) transaction broker
B) no broker relationship
C) exclusive right of sale
D) exclusive agency

A

C) exclusive right of sale

34
Q

How many consumer-members are there of the Florida real estate commission frec
A) 1
B) 2
C) 3
D) 4

A

B) 2

35
Q

Property Management is becoming common because of
A) market fluctuation
B) development
C) absentee owners
D) financing

A

C) absentee owners

36
Q

by Florida law, real estate appraisers must abide by
A) NAR
B) USPAP
C) BPO
D) REALTOR

A

B) USPAP

37
Q

A broker can charge a fee for a:
A) Broker Price Opinion
B) BPO
C) Broker Price Option
D) Both A and B

A

D) Both A and B

38
Q

What must developers submit to the local planning board?
A) permit
B) subdivision plat map
C) letter of intent
D) inspection result

A

B) subdivision plat map

39
Q

Which is NOT a type of residential construction
A) speculative homes
B) custom homes
C) tract
D) block homes

A

D) block homes

40
Q

Joe wants to develop a house in an already developed subdivision, he has to match a certain architectural design. most likely there is a ______

A) lien
B) deed restriction
C) dedication
D) restrictive covenant

A

D) restrictive covenant

41
Q

A buyer wants to sell alcoholic beverages from a new property he bought. the previous owner of the property put a ____ on the property which does not permit him to do so.
A) restrictive covenant
B) deed restriction
C) plat map
D) assignment

A

B) deed restriction

42
Q

How many hours are required for the florida real estate sales associate post licensing course
A) 45 hours
B) 50 hours
C) 63 hours
D) 14 hours

A

A) 45 hours

43
Q

Toby has a 4 year real estate degree from florida university. Which florida real estate course is he NOT exempt from?
A) sales associate pre-license course
B) broker pre-license course
C) post-license course
D) continuing education

A

D) continuing education

44
Q

If a brokers licensed is suspended, the employed sales associates licenses become:
A) null and void
B) involuntary inactive
C) suspended
D) voluntary inactive

A

B) involuntary inactive

45
Q

Which individual is exempt from a real estate license?
A) Susan, showing rental homes
B) Lisa, selling cemetery lots
C) Rick, auctioning of real property
D) Sam, receiving salary and commission from his broker

A

B) Lisa, selling cemetery lots

46
Q

Fiduciary duties are generally associated with what type of representation?
A) transaction broker
B) single agent
C) dual agent
D) no broker relationship

A

B) single agent

47
Q

A transaction broker
A) provides limited representation to a buyer and seller
B) has fiduciary duties
C) has a principal relationship
D) is a single agent

A

A) provides limited representation to a buyer and seller

48
Q

When must a no brokerage relationship disclosure be made
A) entering a contract
B) after the showing of property
C) at the time of sale
D) before the showing property

A

D) before the showing property

49
Q

Broker biancea wants to change from a single agent relationship to a transaction broker:
A) she must get written permission from her principal
B) she may not do so
C) she must ask her broker
D) she must seek an attorney

A

A) she must get written permission from her principal

50
Q

Designated Sales Associates can be assigned in a non-residential transaction if
A) FREC appoints them
B) The broker signs off on it
C) the buyer and seller each have assets of 1 million dollars or more
D) a no broker relationship disclosure is signed

A

Designated Sales Associates can be assigned in a non-residential transaction if
A) FREC appoints them
B) The broker signs off on it
C) the buyer and seller each have assets of 1 million dollars or more
D) a no broker relationship disclosure is signed

51
Q

Which is a broker NOT required to have visible on their office sign:
A) trade name
B) licensed real estate broker
C) broker name
D) address

A

D) address

52
Q

Sean, the tenant, pays the landlord monthly rent and is NOT responsible for property taxes or insurance, Sean has which type of lease?
A) ground lease
B) variable lease
C) net lease
D) gross lease

A

D) gross lease

53
Q

Intersecting in Tallahassee principle meridian is North to South and base line meridian is East
A) true
B) false

A

A) true

54
Q

How many acres are in one square mile
A) 90 acres
B) 640 acres
C) 120 acres
D) 190 acres

A

B) 640 acres

55
Q

The SW1/4, NE1/4, SE1/4, NW1/4 contains how many acres?
A) 1.5 acres
B) 640 acres
C) 9 acres
D) 2.5 acres

A

D) 2.5 acres

56
Q

Jen is selling her house which was built in 1977. What must she disclose to the buyer at closing?
A) previous owner name
B) lead-based paint
C) garage door height
D) clerk contact

A

B) lead-based paint

57
Q

A buyer must be given an ad valorem property tax disclosure which states:
A) buyer is exempt from property taxes in that area
B) buyers future property tax amount may differ from the sellers
C) property taxes are paid in arrears
D) seller is not responsible for property tax

A

B) buyers future property tax amount may differ from the sellers

58
Q

Which lien has priority over all other liens?
A) mechanic lien
B) property tax lien
C) vendor lien
D) construction lien

A

B) property tax lien

59
Q

The mortgagee advances the due date of the unpaid mortgage this is known as:
A) due on sale clause
B) defeasance clause
C) prepayment clause
D) acceleration clause

A

D) acceleration clause

60
Q

Mortgage loan originators do not make loans:
A) true
B) false

A

A) true

61
Q

In which market are loans created
A) federal market
B) primary market
C) secondary market
D) treasury market

A

B) primary market

62
Q

Which market buys and sells existing mortgages:
A) federal market
B) treasury market
C) primary market
D) secondary market

A

D) secondary market

63
Q

Ginnie Mae approved mortgage-backed securites:
A) carry the full faith and credit guarantee of the federal government
B) are to be paid on closing date
C) are sold to the primary market
D) do not have to pay fees

A

A) carry the full faith and credit guarantee of the federal government

64
Q

The federal reserve ‘regulation z’ requires lenders disclose the APR in appliance with
A) the real estate procedures act
B) equal credit opportunity act
C) the truth in lending act
D) the civil rights act of 1866

A

C) the truth in lending act

65
Q

At the time of the mortgage loan application, the RESPA requires:
A) good faith estimate
B) insurance
C) lien
D) APR

A

A) good faith estimate

66
Q

Financial institutions must make credit available w/o discrimination of race in accordance with:
A) the civil rights act of 1866
B) real estate procedures act
C) truth in lending act
D) equal credit opportunity act

A

D) equal credit opportunity act

67
Q

Down payments are not required on VA loans
true
false

A

true

68
Q

How many square feet are in an acre:
A) 1,200
B) 4,356
C) 43,560
D) 640

A

C) 43,560

69
Q

Potential Gross Income minus Vacancy and Collection losses is:
A) Effective Gross Income
B) Net Opporating Income
C) Total Income
D) Potential Income

A

A) Effective Gross Income

70
Q

Chris has been driving through Ashley’s property for the past 20 years to get to work, Chris has which type of easement:
A) Appurtenant
B) In gross
C) Prescription
D) Necessity

A

C) Prescription

71
Q

Jim, the sales associate receives an escrow deposit on Tuesday. When is the deadline to turn it over to his broker?
A) Wednesday
B) Thursday
C) Friday
D) Saturday

A

A) Wednesday

72
Q

Tenancy by the entireties convey title at the same time and must be:
A) husband and wife
B) unequal percentage
C) tenants in common
D) undivided interest

A

A) husband and wife

73
Q

A developer of 20 or more new residential units must give a ____ to a buyer:
A) interval
B) time share
C) plat map
D) prospectus

A

D) prospectus

74
Q

Testate is when a person prepared a will before death and Intestate is when a person dies w/o a will prepared
A) true
B) false

A

A) true

75
Q

A licensee may receive kickback as long as
A) it is after the closing
B) it is under $1,000
C) a licensee may not receive kickback
D) the buyer and seller are fully aware of the kickback

A

D) the buyer and seller are fully aware of the kickback

76
Q

A licensee may receive kickback as long as
A) it is after the closing
B) it is under $1,000
C) a licensee may not receive kickback
D) the buyer and seller are fully aware of the kickback

A

D) the buyer and seller are fully aware of the kickback

77
Q

DBPR is under which Florida statute?
A) chapter 6LJ2
B) chapter 475
C) chapter 455
D) chapter 20

A

C) chapter 455

Real Estate Express Quiz's (27 decks)

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