Which of the following best describes a tenant’s right to quiet enjoyment?
A tenant has the right to enjoy lawful use of the property as long as she does not disturb the peace of other residents in the area.
A tenant has the right to enjoy lawful use of the property unless the other residents in the area disturb his peace, in which case he has the right to break his lease agreement without consequence.
A tenant has the right to enjoy lawful use of the property without being dispossessed or trespassed upon, even by the landlord.
The landlord is responsible for ensuring that noise is kept at a level that permits all tenants to enjoy their own respective units, free from unacceptable noise levels.
If a sales associate is working with a seller on a residential transaction and has not given the seller a brokerage relationship disclosure, what is the brokerage relationship if the sales associate is complying with Florida’s Brokerage Relationship Disclosure Act?
Working as a designated sales associate
Working as a single agent
Working as a transaction broker
Working with no brokerage relationship
Which fair housing case tested discrimination in a private sale?
Brown vs. Board of Education
Buchanan vs. Warley
Jones vs. Mayer
Plessy vs. Ferguson
Ted’s property is in foreclosure, but he has some equity in his property. An investor suggests that she and Ted enter into a sales contract for a substantially higher price than the investor would actually pay. The investor pockets the cash and allows the house to be foreclosed on. What sort of scheme is this?
Equity skimming
Inflated appraisal
Silent second
Straw buyer
Who or what entity owns a mortgage and the promissory note?
Mortgagee (the lender)
Mortgagor (the borrower)
The property owner
The property seller
After getting into a fender bender, Parker had to buy a new car. To make the down payment on the car, he had to skip a couple of his mortgage payments. He received a notice from his lender indicating the remaining amount of his loan is due immediately and in full. What clause in his mortgage stipulates this?
Acceleration
Alienation
Defeasance
Due-on-sale
Which U.S. Supreme Court decision consolidated five cases involving the constitutionality of state-sponsored segregation in public schools?
Brown vs. Board of Education
Buchanan vs. Warley
Jones vs. Mayer
Plessy vs. Ferguson
19PractEx.CeSh.PreLic.Qonly.txt
Which decision stated that separate facilities for Black and white people were constitutional as long as they were “equal”?
Brown vs. Board of Education
Buchanan vs. Warley
Jones vs. Mayer
Plessy vs. Ferguson
While hosting an open house, the agent speaks with prospective buyers. They’re interested in the house, but think the listing price is a little high. They ask the agent what other incentives they could include in their offer to get the seller to come down on their price. If the agent helps them, what duty may she be breaching?
Accounting
Loyalty
Obedience
Reasonable skill and care
As Florida homeowners, John and Patricia can apply to homestead their principal residence, which could allow them to exempt a portion of the assessed value of their home from property taxes. If their home is valued at $300,000, how much of an exemption could they qualify for?
$10,000
$25,000
$5,000
$50,000
In Florida, who or what entity must keep records of all funds deposited into the custodial or trust account that indicate the date and from whom the broker received the funds, the date deposited, the date any withdrawals are made, and other necessary information?
The bank of deposit
The broker
The buyer
The seller
Margot has fallen in love with a three-bedroom, 2,500-square-foot property in her friend’s neighborhood. It’s listed for $400,000. However, just down the street, another three-bedroom, 2,400-square-foot home very similar to the one Margot loves was just listed for $350,000. Margot and her agent immediately make an offer on the second property. Which economic principle is at work here?
Anticipation
Conformity
Progression
Substitution
Raphael received an offer to purchase his property that he felt was so low it was insulting, and told his agent to ignore it altogether. Three days after the offer expired, the same buyer made another offer, at list price, which Raphael accepted. Which of the following choices provides the best legal explanation for how the first offer was terminated?
Raphael rejected the offer by refusing to acknowledge it.
The buyer’s first offer was novated.
The offer expired through lapse of time.
The seller countered the offer with a new one.
Charles, a real estate professional, has just finished touring a property he’d like to list for sale. When talking with the owner about the property and comparing it to other properties recently sold in the area, he tells the owner he appraises the property at a value of $350,000. What, if anything, did Charles do wrong?
He inspected the property.
He offered an opinion about the value of the property.
He referred to his opinion on the value of the property as an appraisal.
He talked to the owner without having a listing agreement in place.
Siblings Julia and Gene are co-owners of a small retail building in which a tanning salon is currently operating. Gene really wants to leave his ownership interest to his son when he dies, but the way in which they own the property doesn’t allow him to do so. What type of ownership do they have?
Joint tenancy
Tenancy by the entirety
Tenancy in common
Tenancy in severalty
What’s a promissory note?
A lien on a property
An agreement for a consumer to buy a new condominium
The borrower’s promise to repay a certain sum of money to another party (the lender or holder of the note) under specified terms
The lender’s promise to repay a certain sum of money to another party
Which one of the following examples describe a prepayment penalty?
A fee the government charges the lender if the borrower pays off a loan before its intended time
A fee the lender charges for servicing a loan
A loan origination fee charged to the borrower
A monetary penalty imposed on a borrower for paying off a loan before its intended time
It’s the end of the day and you’re running late for dinner at the Melting Pot, so you decide to go to the ATM and deposit your client’s earnest money check into your own account, and then transfer it to an escrow account the next morning. Why is this wrong?
You can’t commingle escrow funds with your own funds.
You failed to make a record of the deposit.
You failed to notify the client and the broker that you would be placing the funds temporarily in your own account.
You should wait till the end of the week before transferring in to the separate account.
A developer purchased 78 acres and subdivided them into half-acre lots. They installed sewer and underground electric for the entire subdivision, hoping to recoup their initial infrastructure investment. This is an example of which economic characteristic of real property?
Area preference
Immobility
Permanence of investment
Scarcity