Florida Real Estate Exam..pdf file:///C:/Users/HP/Desktop/NIW/Florida%20Real%20Estate%20Exam.
Florida Real Estate Exam Questions & Answers
1. How is the binder deposit shown on the Closing Disclosure Form?
ANS credit to the buyer
2. what is the status of a sales associates license if he does not complete the required post
licensing education prior to his first renewal section?
ANS null and void
3. Mortagee
ANS lender
4. when you sell or transfers
ANS due on sale
5. 2 mortgage clauses
ANS due on sale clause, acceleration clause
6. acceleration clause
ANS the buyer defaulted
7. government insured loan
ANS FHA loan
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8. most like an insurance company
ANS FHA loan
9. government guaranteed loan
ANS VA loan
10. requires a funding fee
ANS VA loan
11. what is a penalty for a first time minor violation that is not accompanied by a fine?
ANS a notice of non-compliance
12. What would a sales associate be charged with if he took duplicates of listings
when he left the brokerage firm and started to work for another company?
ANS breach of trust
13. What would a sales associate be charged with if he took originals of listings
ANS Larceny
14. which of the following clauses or covenants in a deed, states that the grantor owns
the property and has the right to convey it?
ANS covenant of seisin
15. Which expenses associated with a principal residence are deductible for income tax
purposes?
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ANS property taxes and mortgage interest
16. which of the following methods of surveying property is used in a subdi- vision
where plat maps have been recorded?
ANS lot and block
17. which of the following types of notice is also called legal notice and is achieved by
recording documents in the public records?
ANS constructive notice
18. in which of the following mortgage lending theories does the borrower not retain title
during the loan period?
ANS title theory
19. the borrower retains title during the loan period
ANS lien theory
20. if you are at the point of beginning and you are headed N90*E, what direction
are you headed?
ANS East
21. which of the following describes leverage
ANS leverage is the use of borrowed funds to purchase assets or to finance an investment
22. a licensed real estate sales associate conducted an appraisal for a fee.
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The FREC found the licensee to be in violation of the Uniform Standards
of Professional Appraisal Practice. Which statement is true?
ANS The licensee is subject to the FREC discipline
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