Practice end-of-course exam for Florida real estate license Questions And Correct Detailed Answers (Verified Answers) Already Graded A+

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Practice end-of-course exam for Florida real estate license Questions And Correct Detailed Answers (Verified Answers) Already Graded A+

• Question: The broker is a single agent of the seller. The principal has disclosed to the

broker that the roof leaks, although there is no visible evidence of a water problem. The broker has satisfied his legal obligation to both the principal and all prospective buyers if he

discloses:

• That the seller is willing to negotiate the price.
• Nothing, because there is no visible evidence.
• That the roof leaks.
• The information only to the buyer's home inspector.

Correct Answer: C) That the roof leaks.

• Question: Which clause is included in the mortgage to prevent a subsequent buyer from

assuming an existing mortgage loan?

• Defeasance clause
• Due-on-sale clause
• Acceleration clause
• Prepayment penalty clause

Correct Answer: B) Due-on-sale clause

• Question: An investor wanted to build a motel. A brokerage showed him three choices of

sites zoned hotel-motel. The investor promised to decide on the site in three weeks, so the broker took a two-week vacation. When the broker returned, the investor bought one of the sites. The broker sold the site, not knowing that the zoning on that site had been changed to industrial. Which is correct?

• The broker is guilty of culpable negligence.

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• The broker is completely innocent of any wrongdoing.
• The investor is guilty of real estate fraud.
• The transaction is automatically voided.

Correct Answer: A) The broker is guilty of culpable negligence.

4. Question: Which expense is subtracted to derive NOI?

• Mortgage payments
• Income taxes
• Vacancy and collection losses
• Depreciation

Correct Answer: C) Vacancy and collection losses

• Question: A broker received a $5000 deposit from the buyer on Tuesday at 1 PM. The

seller will not be available until Monday. The broker's normal banking day is Monday. The

broker is required to deposit the $5000 before the end of:

• Business on Wednesday.
• Business on Thursday.
• Business on Friday.
• Business on Monday.

Correct Answer: C) Business on Friday.

• Question: Which statute prohibits discrimination in hotels, restaurants, and other

places of public accommodation if such discrimination is based on national origin?

• Civil Rights Act of 1866
• Fair Housing Act of 1968
• Civil Rights Act of 1964
• Americans with Disabilities Act

Correct Answer: C) Civil Rights Act of 1964

• Question: Failure to comply with the statute of frauds will result in:
• A void contract.

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• A voidable contract.
• An unenforceable contract.
• A valid but illegal contract.

Correct Answer: C) An unenforceable contract.

• Question: The Florida Real Estate Commission must notify which agency when it takes

disciplinary action against any of the agency's licensees?

• Division of Florida Condominiums, Time-shares, and Mobile Homes
• Florida Department of Revenue
• Federal Housing Administration
• Division of Real Estate

Correct Answer: A) Division of Florida Condominiums, Time-shares, and Mobile Homes

• Question: Leasehold estates do NOT include:
• An estate for years.
• A tenancy at will.
• A tenancy at sufferance.
• A remainder estate.

Correct Answer: D) A remainder estate.

• Question: A licensed real estate broker has been hired by a lender to appraise a home

for a buyer who has applied for an FHA loan. Which statement is TRUE regarding this situation?

• The broker can perform the appraisal with a standard broker's license.
• The broker is required to be a state-certified appraiser to perform this appraisal

assignment.

• The broker must only be a licensed sales associate.
• The lender is not allowed to hire a broker for FHA appraisals.

Correct Answer: B) The broker is required to be a state-certified appraiser to perform this appraisal assignment.

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• Question: The seller instructs the listing broker not to show his home to members of a

protected class. The broker informs the seller that this is a violation of the fair housing laws, but the seller is insistent. Which choice is the broker's best course of action under these circumstances?

• Comply with the seller's instructions to maintain fiduciary duty.
• Show the home anyway without telling the seller.
• Withdraw from the listing agreement.
• Report the seller to the local police.

Correct Answer: C) Withdraw from the listing agreement.

• Question: A broker has a listing price at $120,000. An uninformed buyer offers

$125,000 for the property. The broker buys the property for $120,000, then sells it for $125,000. Which statement is FALSE?

• This is legal as long as the broker withdraws from the listing first.
• This is a violation of the broker's fiduciary duties.
• This action constitutes a form of fraud.
• The broker is not permitted to secretly flip the property for profit.

Correct Answer: A) This is legal as long as the broker withdraws from the listing first.

• Question: A woman has Homesteaded her residence. Her home has an assessed value

of $279,000. She is a non-veteran who is totally and permanently disabled as a result of a serious car accident. She's also legally blind. What is her cumulative county tax exemption on her Homesteaded residence?

Correct Answer: $51,000

• Question: The duties of a real estate licensee owed to a buyer or seller who engages

the real estate licensee as a single agent, do NOT include:

• Dealing honestly and fairly.
• Loyalty and confidentiality.
• Limited confidentiality, unless waived in writing by a party.
• Full disclosure.