Florida Real Estate - Practice exam 100 Questions and Verified Answers, 100% Score Guarantee Pass (Latest 2025) A sales associate was issued a citation for failing to timely notify the Commission of her change of address. How many days does the licensee have to either pay the citation or file an objection to the alleged violation? - Correct Answers ✅30 days Pam's home has an assessed value of $301,000. She qualifies for the Florida homestead exemption. The area she lives in
has the following taxes: County tax rate is 8.6 mills, City tax
rate is 4 mills and the school district tax rate is 6.1 mills. How much will the property taxes be? - Correct Answers ✅[Section 18 Slide 31] $301,000 -$50,000 = $251,000 x .0126 (8.6 mils + 4 mils =12.6 mils) = $3,162.60; $301,000
- $25,000=$276,000 x .0061 (6.1 mils) = $1,683.60;
$3,162.60+ $1,683.60 = $4,846.20
What are the similarities between a Business Brokerage and a Real Estate Brokerage? - Correct Answers ✅1) Both deal with Real Property 2) Both require a Real Estate License 3)Both involve Long-term Liabilities A rental investment property is scheduled to close on September 10. The buyer gets day of closing. The rent is $1900. How much is debited and/ or credited at closing and to whom? - Correct Answers ✅$1330 Credit to Buyer and $1330 Debit to Seller 1 / 3
Florida Real Estate - Practice exam 100 Questions and Verified Answers, 100% Score Guarantee Pass (Latest 2025) [Section 14, Slide 63] There are 30 days in September, so there are 21 days that the seller owes the buyer including the day of closing. Divide $1900 by 30 = 63.3333333333 x 21 days =$1,330 A home was purchased with a down payment of $36, 000 and a loan of $200,000 at 6.5% for 30 years. Monthly payments are $1,264.14. What is the loan to value ratio? - Correct Answers ✅[Section 12 Slide 52] $36,000 + $200,000 = $236,000 Purchase price; $200,000 � $236,000 = 0.8474576271 or 85% rounded.In case of breach by the buyer, most real estate contracts
include a provision that the earnest money be regarded as: -
Correct Answers ✅Liquidated damages to the seller Which is an example of a functional obsolescence? - Correct Answers ✅One car garage A tenant signs a lease for less than a year. What is his interest in the property? - Correct Answers ✅Leasehold estate To substitute a borrower in a mortgage with another borrower is called: - Correct Answers ✅Assignment of mortgage 2 / 3
Florida Real Estate - Practice exam 100 Questions and Verified Answers, 100% Score Guarantee Pass (Latest 2025) An active Florida broker accompanies her husband when he goes on active military duty in Ohio for five years. She is not active in real estate in Ohio. Upon their return to Florida, she - Correct Answers ✅Need not complete any continuing education or reactivation education for those five years and for up to 2 years after honorable discharge
Effective age means: - Correct Answers ✅How old the
building or house appears to be
The indestructability of land refers to: - Correct Answers
✅Durability If religion is a protected class under the Fair Housing Act, how can a church restrict the renting of homes to only members of their church? - Correct Answers ✅Churches and private clubs are exempt as long as they do not discriminate in accepting membership.Which statement is associated only with the transaction broker relationship? - Correct Answers ✅The customer is not responsible for the acts of the licensee You are appraising a 5 year old home. If the livable square footage is 3,500 with a cost of $95 to replace according to a
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