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State Exam FLORIDA REAL ESTATE Questions And Correct Detailed Answers (Verified Answers) Already Graded A+
- In a joint tenancy
- owners do not have the right of survivorship
- has the right of survivorship and owners acquire interest at the same time
- owners can acquire interest at different times
- interest is passed to heirs upon death
Correct Answer: B
- Price Fixing is
- a legal business practice in real estate
- regulated by the DBPR
- a violation of Sherman-clayton antitrust law
- required for standard commission rates
Correct Answer: C
- If an adult enters into a contract with a child
- the contract is completely void
- this contract can be enforced in a court by the child
- the contract can be enforced by the adult
- the DBPR must approve the contract
Correct Answer: B
- Which of the following words are synonyms?
- vendor-buyer
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- mortgagor-lender
- vendor-seller
- lessor-tenant
Correct Answer: C
- Who can renew their initial Florida real estate license without post license
- Anyone with a high school diploma
- A person that graduated with a university with a 4 year degree in real estate
- Out-of-state brokers
- Anyone who passes the state exam with a 90% or higher
education?
Correct Answer: B
- The truth in lending act
- regulates the amount of interest a bank can charge
- gives a consumer the right to rescind a mortgage secured by his homestead
- applies only to commercial loans
- determines the property taxes owed
Correct Answer: B
- A piece of property that is 400 feet by 325 feet is
- 2 acres
- 3 acres
- 4 acres
- 5 acres
Correct Answer: B
- The Fair Housing Act prohibits discrimination based on
- Which of the following is true regarding the Florida RE commission?
Correct Answer: Race, color, religion, national origin, sex, familial status, handicap
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- All members must be active brokers
- Two members do not have to have a Florida Real Estate license
- Members are elected by the public
- It consists of 9 members
Correct Answer: B
- When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate
- An expressed contract
- is implied by actions
- is unambiguous
- is always oral
- cannot be enforced
licensee...Correct Answer: the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs
Correct Answer: B
- To become the chairman of the Florida Real Estate Commission
- a member is appointed by the Governor
- a member is elected by his or her peers
- a member is selected by the DBPR Secretary
- a member must have 10 years of experience
Correct Answer: B
- A florida Real Estate license
- Florida Real estate licensee cannot promise to re-purchase property back in the
Correct Answer: has an expiration date on it, expires biennially, serves as prima facie evidence that the holder is properly licensed
future unless
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- the buyer pays a fee
- a guaranteed re-purchase agreement has been approved by the state of florida
- the broker gives verbal consent
- the property is commercial
Correct Answer: B
- A florida real estate salesman must turn escrow money over to his broker
- within 3 business days
- before the end of the business day following the day he received the money
- within 24 hours
- by the end of the week
Correct Answer: B
- A florida real estate broker can have
- an interest bearing escrow account
- commingled personal funds in an escrow account
- up to $10,000 of personal funds in a sales escrow account
- only non-interest bearing accounts
Correct Answer: A
- Which of the following would a buyer certainly not get at closing
- deed
- closing disclosure
- certificate of title
- keys to the property
Correct Answer: C
- When the gov. exercises the power of eminent domain, which of the following
- the owner must be fairly compensated
statements is NOT true
