License Law Test Questions

Question 1

If you are a licensee selling your own home, you:

A. must list it with your managing broker.
B. must inform buyers, in writing, of your ownership interest in the property.
C. must inform buyers of your ownership interest only if it is listed with your broker.
D. need do nothing. It is no business of your broker since it is your own property.

Answer 1

B. must inform buyers, in writing, of your ownership interest in the property.

Question 2

Which of the following needs to be licensed to sell real estate?

A. County assessor
B. The executrix of an estate paid a fee to sell a decedent’s home
C. A neighbor helping sell a property in exchange for use of a time-share in Florida
D. An auctioneer

Answer 2

C. A neighbor helping sell a property in exchange for use of a time-share in Florida

Question 3

A person is not required to be licensed if:

A. they only receive finder’s fees from real estate agents.
B. they help rent a friend’s house for no fee.
C. they are employed as a tele-marketer for a real estate office.
D. they only show properties for agents but do not write contracts.

Answer 3

B. they help rent a friend’s house for no fee.

Question 4

A broker-associate may do which of the following?

A. Maintain their own escrow (trust) account.
B. Advertise in their own name without the name of the firm.
C. Maintain a separate office and signage at their home.
D. Only operate under the over site of their managing broker.

Answer 4

D. Only operate under the over site of their managing broker.