Questions 1-15 Flashcards
Which of the following statements is true regarding a mortgage loan originator (MLO)?
A mortgage loan originator must have a separate license.
A real estate appraisers fees for professional service is based on which of the following?
The time and difficulty of the appraisal.
Which of the following best describes real estate brokerage business?
Service business
All of the following are  responsibilities of a property manager, except:
Preparing leases
What does the term farming referred to in real estate?
Specializing in one geographic area
Which insurance policies can a real estate licensee offer to the public without additional state licensing? Flood insurance, fire, insurance, renters insurance.
None of the above
What is the purpose of the national Association of realtors?
Preserve the right of individuals to own real property through an exchange of information.
What does the designation realtor signify?
The designation identifies the real estate professional as a member of NAR
A developer contracts to build a home according to the buyer specifications . This is an example of which type of building.
Custom
Which of the following best describes licensees who are involved in business Brokage
They must be able to analyze financial statements and understand balance sheets
Real estate licenses are required to be knowledgeable and all the following areas, except:
 Accounting
Which services provided by real estate licensees are required the most experience and knowledge
Counseling
An appraiser who is registered, license, or certified under FS475, that part two must be utilized in which of the following
Federally – related transactions
When a developer completes construction of a new subdivision, all streets, electric, water, and sewer installation are finished and deeded to the city or county. What is this called
Dedication
Which of the following assessments would be acceptable for a Florida real estate licensee who does not represent themselves as an appraiser, and follows the uniform standards of professional appraisal practice (USPAP)?
An assessment to give an estimate of value for an attorney, and a divorce case.
