What type of relationship has been formed if two or more parties agree to combine their efforts for a single business transaction?
Which type of deed would be best to convey property from the standpoint of the grantor?
These are all remedies for breach of a real estate contact between a buyer and a seller, EXCEPT:
Fred, a licensed sales associate, was registered with Broker Harry when he claimed that Harry had failed to pay a sales commission due him. If Fred resigned and was employed under Broker Norman before the dispute was resolved, which statement would be correct?
FHA housing expense ratio and total obligations ratios, correspondingly, cannot exceed which of the following limits?
Three sisters buy a home. They each have equal portions of possession, interest, time, and title. They decide that upon death, the survivor will acquire their shares. What type of tenancy exists?
Which stamp applies to a new mortgage but NOT to an assumed mortgage?
Which of the following is not a primary lender?
Three persons own a parcel of property with equal rights of use and possession. They have equal interest and acquired their interests by the same or different deeds. What type of ownership did they acquire?
What does an over-improved property suffer from?
What is the name for a person who has passed the state broker license examination but continuous to be employed by an actively licensed real estate broker?
An applicant for a real estate license was denied by the department, which statement is correct regarding this denial?
What is a brokers proper course of action when they have listed a property and found that the title to the property is NOT merchantable?
When a loan is fully repaid, the lender will provide the mortgagor with which document?
The value of a business that is falling and not expected to continue would best be determined using which valuation method?
What term refers to the illegal practice of inducing homeowners to list or sell their property by telling them that minorities are moving into their neighborhood?
What is a special assessment?
A listing broker is employed to find a purchaser and produces a full cash offer that meets the seller’s terms. The seller refuses to accept the offer because he doesn’t like the buyer. Which condition exists?
Which statue stipulates the time periods during which a party may sue for the enforcement of a contract?
Which federal law requires that borrowers be informed of all settlement costs involved in the purchase of a home when funds are obtained from a federally regulated lender?
A business known as the XYZ Company is legally formed as what type of business?
Which clause in a mortgage limits the lenders rights in a foreclosure to the amount received from the sales proceeds and prohibits the lender from seeking a deficiency judgment?
If a sales associate Sherri receives an offer to purchase a listed property which is accompanied by an post-dated check, what should she do?
Three individuals form a brokerage partnership. If each of the partners intends to provide real estate services to others, which statement would be correct?
John recently purchased a home from Mary. Mary had owned and lived in the home for several years and had qualified for and filed for all allowable tax exemptions. Which statement is true?
What rights does an owner have whose property borders a river?
Which Act requires lenders to judge loan applicants on the basis of credit rating, income, expenses and assets without regard to their age, race, religion, sex, marital status, or nationality?
A landlord may commingle tenants’ security deposits with other business funds under which conditions?
Which type of business organization may be registered as a real estate brokerage?
If an owner of real property gave another party the right to buy his or her property for a fixed price at any time during a specific time period, what type of agreement was created?
What type of tenancy is formed by a written agreement that creates a non-freehold estate in real property providing occupancy of the property for a specific time period?
In which type of lease does the tenant pay a fixed rent while the lessor pays all the real estate taxes, insurance, and maintenance?
What term is used for a person who has been given power of attorney to act for another person?
The Chairperson of the Florida Real Estate Commission acting alone may exercise which powers?
A sales associate has decided to concentrate on trying to obtain listings from a particular neighborhood. The associate believes this should increase knowledge of the market and improve the likelihood of success. Which term refers to approach to the real estate business?
Which real property identifier is assigned by the county property assessor to uniquely identify a property?
A homeowner in a neighborhood with homes valued in the $100,000 range adds an in-ground pool at cost of $75,000. This is an example of which of the following?
A homeowner receives a property tax assessment for 2020. When does the property tax become delinquent?
An owner-developer may employ a sales associate to perform real estate services for property belonging to the owner-developer. What are the registration and real estate licensing requirements for an owner-developer?
A sales contract called for a $10,000 secondary deposit to be paid by June 1st. The sales associate forgot to collect the deposit. Which statement correctly applies to this situation?
Which item will show as a credit to the buyer on a closing statement?
Which statement is correct concerning a corporation registered to broker real estate?
Sally received her initial sales associate license on July 19, 2020 with an expiration date of March 31, 2022. What is the status of her license if she does not complete a 45-hour post-license course prior to expiration?
After defaulting on mortgage payments but prior to foreclosure, the mortgagor has the right to redeem his or her interest in the mortgaged property by paying the money owed the lender. What term is used for this right?
A real estate licensee working with a seller in limited representation received a telephone call from another real estate agent working with the buyer. The agent’s opening comments state the following. “Hi, this is Robert Dawson, with East Side Realty. I am standing in front of a house that has your name on the listing sign and I am with my principal. I have a few questions to ask you about the property.” Based on the buyer’s agent’s comment, what should the licensee working with the seller conclude?
Clarence made a written offer of $78,000 on Dan’s home that was listed with Broker Alice. Before the offer could be presented, Larry arrived at Alice’s office and made an offer of $82,000 on the same property but did not give an earnest money deposit. Alice promised Larry that she would submit the oral offer but only presented the written offer to Dan. Which statement is correct?
Which term refers to the physical land and improvements as well as intangible ownership interest and rights?
Which statement is correct concerning agency relationship?
Frank has no real estate license, but has been acting as a broker and collecting
commissions for arranging sales transactions. If the Department wishes to take
action against this individual they may issue all of the following, EXCEPT:
All of the following statements are correct regarding the Americans with Disabilities Act, EXCEPT:
What type of contract has been created if some of the terms and conditions must be inferred from the acts or conduct of the parties?
Which statements correctly applies to a real estate broker who represents both parties as a single agent in transaction?
Francine has been licensed as a sales associate for 3 years. She now wishes to obtain her broker license. Which is correct regarding broker licensing requirements?
How is prepaid interest on a purchase money mortgage shown on a closing statement?
A homeowner defaults on the mortgage. The homeowner owes the lender $200,000. The home is sold at public auction and the sale produces $240,000. Where does the surplus amount of the balance due on the promissory note go?
Which lines are correctly identified as general or specific?
What is the name for the number that is assigned by the county property appraiser’s office to each individual property?
What type of relationship has probably been formed if two more parties agree to combine their efforts for a single business transaction?
A city is in need of additional land for a new school. what right would the city have to acquire the land, even over objections of the property owner?
An applicant for a real estate license has been denied by the DBPR. Which statement is correct concerning this denial?
a seller and broker enter into a 6 month agreement where the seller agrees to pay a commission to the broker, regardless of who actually sells the property. What type of contract is this?
these are all examples of eminent domain, EXCEPT:
which tax applies to new mortgages but not to an assumed mortgage?
three persons own a parcel of property with equal rights of use and possession. They have equal interests and acquired their interests by the same or different deeds. what type of ownership did they acquire?
what does an over improved property suffer from?
what is the name for a person who has passed the state broker license examination but continues to be employed by an actively licensed real estate broker?
what is a broker’s proper course of action when they have listed a property and found that the title to the property is not merchantable?
all of the following statements are true regarding a brokers office except:
which statute stipulates the time periods during which party may sue for the enforcement of a contract?
which clause in a mortgage limits the lenders rights in a f foreclosure to the amount received from the sales proceeds and prohibits the lender from seeing a deficiency judgement?
if sales associate Sherri receives an offer to purchase a listed property which is accompanied by a post-dated check, what should she do?
which statement is correct regarding a property held in an estate by the entireties?
which act requires lenders to judge loan applicants on the basis of credit rating, income, expenses and assets without regard to they age, race, religion, sex, marital status?
if an owner of real property gave another party the right to buy his or her property for a fixed price at any time during a specified time period, what type of agreement has been created?
in which type of lease does the tenant pay a fixed rent while the lessor pays all real estate taxes, insurance, and maintenance?
all of the following statements are correct regarding a planned unit development (PUD) except:
a sales associate has decided to concentrate on trying to obtain listings from a particular neighborhood. The associate believes this should increase knowledge of the market and improve the likelihood of success. which term refers to this approach to the real estate business?
which property identifier is assigned by the county property assessor to uniquely identify a property?
Ted, a Michigan real estate broker, referred customer a customer to Broker Wendy in Tampa with the understanding that Ted would receive a portion of any commission earned. The customer purchased a home with Wendy’s assistance. If Ted did not participate in the transaction and Wendy mailed Ted a portion of the commissions, which of the following statements applies?
what registrations and licensing is required from an owner-developer?
Sally received her initial sales associate’s license on July 19, 2001 with an expiration date of March 31, 2002. She had not completed a 45 hour post license course prior to expiration. What is the statue of Sally’s license?
After defaulting on mortgage payments but prior to foreclosure, the mortgagor has the right to redeem his or her interest in the mortgaged property by paying the money owed the lender. This right is called the
A real estate licensee who is working with a seller receives a call from another broker stating that, “I am representing a buyer as the buyer’s broker. I’m standing in front of one of your listed properties with my buyer.” What can the licensee infer from this conversation?
which term refers to the physical land and improvements as well as intangible ownership interests and rights?
these are al requirements for valid instruments of deed conveyance, except:
Frank has no real estate license, but has been acting as a broker and collecting commissions for arranging sales transactions. If the department wishes to take action against this individual they may issue all of the following except
what type of contract has been created if some of the term and conditions must be inferred from the acts or conduct of the parties?
a buyer and seller have entered into a contract for sale of a duplex. The buyer defaults on the contract and the seller claims the escrow deposit per contractual agreement. What term applies to this situation?
Which liens are correctly identified as general or specific?
property taxes are 4,200 per year. The closing is April 20th and closing day is charged to the buyer. Using the 365-day method, how will the proration of property taxes show on the closing statement?
An appraiser has selected a comparable sale that recently sold for $86,000 for inclusion in an appraisal. The comparable 3 bedrooms, 1 bath and fireplace. The subject has 3 bedrooms, 2 baths and no fireplace. Analysis by the appraiser indicates a bathroom is worth $2,500 and a fireplace is worth $1,200. What is the adjusted sales price of the comparable property
what is the portion of the third monthly payment that reduces the loan balance on a $200,000 mortgage with payments of $1,264.14 per month and an interest rate of 6.5% for a 30 year term?
A property that sold for $203,500 was financed with a new mortgage loan of $162,800. What amount must be charged for documentary stamps taxes on the deed?
Charlie wants to net a minimum of $120,000 from the sale of his home. If the closing costs are expected to be $2,360 and his broker charges an 8% sales commission, Charlie’s home must sell for:
using the following information, what is the estimated value for this income producing property?
bill’s home is assessed for 185,000. The tax rate is 22.5 mils including a city milage of 6 mils, county milage of 7.5 mils, and school millage of 9 mils. Bill is eligible for the standard homestead tax exemption. What is the amount of Bill’s property taxes?
the loan amount is 410,000 and loan to value ratio is 75%. What is the purchase price of the property?
the interest on a loan is 5.75%. the lender is charging four points. What is the lender’s approximate effective yield?
how many acres are contained in the NE 1/4 of the NE 1/4 of the NW 1/4 of the SW 1/4 of section 31?
there is a dispute over an escrow deposit and the broker intends to fight for a portion. which of the following remedies would not be appropriate?
which service provided by real estate licensees requires the most experience and knowledge?
why was the FREC created?
when moving a branch office from one location to another, a broker must do what?
are cemetery lots considered real estate?
how many witnesses are required on a sales contract?
which penalty would apply to a license who is guilty of false advertising?
what is the elective share right in Florida?
a farmer’s market store has operated at its location for the last ten years. Three years ago, because of the growth in the area, the zoning laws were changed to disallow it. The store could be allowed to stay in operation under which zoning exception?
which expense may be deducted by a homeowner for tax purposes, regarding his or her principal residence?
what can a broker be charged with who fails to pay a sales associate the share of a commission owed?
a seller gives a buyer a deed but the buyer moves into the property without recording it. Which method of providing evidence of ownership has been used?
a buyer has been looking for a home with Jonathan who is a real estate sales associate. When the buyer finds a property that is of interest, they ask Jonathan if the seller’s title is clear. What should Jonathan do?
the pledge of property as security for a loan without delivering a title is called what?
which authority allows cities and counties to enact zoning ordinances?
in order for a broker to appoint one sales associate to represent the buyer as a single agent, and another sales associate from the same office to represent the seller as a single agent, all of the following conditions must be met, except which one?
How is the amount of a mortgage loan assumed at closing by the buyer entered on the closing statement?
all of the following information appears on a Florida real estate license, except:
If a tenant is behind the rent payments and landlord is starting the eviction process, what is the first step the landlord would take?
a licensee failed to complete the required 14-hour continuing education for their second renewal and their license expired on September 30th. What is the status of the license on October 1st?
The federal reserve has several methods for controlling the money supply. Which of those methods is generally considered to be least effective method?
what term is used to describe a situation in which a real estate licensee tells a customer an advertised property is not available for sale when, in fact it is?
under the elective share, within how long must a surviving spouse file to override the will?
according to Florida’s save our homes act, the assessed value of homestead property cannot be increased in any one year by more than which of the following?
what is the actual notice of ownership of real estate?