100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
45 Hour Post License Real Estate Florida (Questions & Answers) Verified 100% Correct!! $11.79   Add to cart

Exam (elaborations)

45 Hour Post License Real Estate Florida (Questions & Answers) Verified 100% Correct!!

 8 views  0 purchase
  • Course
  • Institution

45 Hour Post License Real Estate Florida (Questions & Answers) Verified 100% Correct!! An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing pri...

[Show more]

Preview 3 out of 26  pages

  • April 27, 2024
  • 26
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
avatar-seller
45 Hour Post License Real Estate Florida
(Questions & Answers) Verified 100%
Correct!!
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic product.
B)
two successive quarterly increases in the gross domestic product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains.
B)
two successive quarterly increases in the gross domestic product.

Explanation
When consumers, lured by lower prices, venture back into the market, business activity increases and
confidence begins to return. Slowly, production facilities gear up to meet the new consumer demand,
capital begins to flow back into business enterprises, and additional employees are hired.


The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes.
B)
reserves for replacements, fixed, and variable.

Explanation
Operating expenses are divided into three categories: fixed expenses, variable expenses, and reserves
for replacement.


A person applies for a $300,000, 30-year fixed-rate mortgage loan at 4%. The mortgage payment
factor is .00477415. Taxes for the year are $4,000, and insurance is $2,400. Her monthly payment for
principal, interest, taxes, and insurance (PITI) will be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58.
D)
$1,965.58.

58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000 taxes ÷ 12 months = 333.33.
$2,400 insurance ÷ 12 months = 200. $1,432.25 + $333.33 + $200 = $1,965.58 total PITI.

,A sales associate receives a good-faith deposit from a buyer on Wednesday. The broker must deposit
the funds into the escrow account no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
D)
Friday.
B)
Monday.

FREC rules require that the sales associate must give the broker the funds within one business day.
The broker must deposit the funds in a bank within three business days.


The minimum legal description for a platted subdivision would include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot dimensions.
C)
subdivision name, county, reference to section, township, and range.
D)
subdivision name, county, lot and block number, plat book and page number.
D)
subdivision name, county, lot and block number, plat book and page number.


Antitrust laws
A)
allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing.
D)
prohibit price fixing.

Explanation
Some of the prohibited actions under antitrust laws include:

conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering with their business; and
requiring a minimum commission before allowing listings to be circulated in any service, such as
through an MLS.


Hearing, understanding, and evaluation are part of what type of skill set?
A)
Oral
B)

, Written
C)
Nonverbal
D)
Listening
D)
Listening


What are the requirements for persons disturbing lead-based paint in a house?
A)
The owner must leave the house vacant for a minimum of 30 days after cleanup.
B)
The person must have taken a 45-hour course in radon gas remediation.
C)
Lead-based paint may not be disturbed by law.
D)
The person must be certified and follow specific work procedures.
D)
The person must be certified and follow specific work procedures.


The Civil Rights Act of 1866 prohibits discrimination based on
A)
race, color, religion, sex, national origin, family status, or handicap.
B)
sexual preference.
C)
religion.
D)
race.
D)
race.


In order to make successful prospecting calls, a sales associate should
A)
call from the phone book without accessing the do-not-call registry.
B)
be consistent, making them at the same time each day.
C)
make them at random hours on different days.
D)
make them whenever the sales associate feels up to it.
B)
be consistent, making them at the same time each day.


At closing, a seller will be asked to sign an affidavit that
A)
there are no liens or rights to file a lien on the property.
B)
he will sign the deed when it is presented to him.
C)
he agrees with the closing disclosure.
D)
he made required repairs to the property.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.79. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67096 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.79
  • (0)
  Add to cart