Post-Licensing Practice Exam for
Florida Real Estate Sales Associates
FHA requirements for housing fee ratios (HER) and general obligations ratio (TOR) are -
ANS28% (HER) and 36% (TOR).
Yesterday, a broker obtained a 90-day list settlement that has a self-renewing provision
extending the agreement a further 60 days after expiration until either birthday party cancels
in writing. The listing contract is - ANSvoid.
Unlicensed non-public assistants - ANSwho are directed by the income accomplice in a way
to do their jobs can't be categorised as independent contractors, and need to pay
withholding taxes.
If a client increases an objection to a assets, the accomplice need to first - ANSconfirm and
isolate the objection.
A bilateral settlement spelling out the whole terms among a client and a dealer for the switch
of a parcel of real property is - ANSa income settlement.
What is NOT a good purpose to make a preclosing walk-via inspection? - ANSTo determine
that no encroachments exist
Susan lists her home with broking William for $ninety,000 on March 16. On August 1, Henry
makes an offer of $85,000, followed by using a binder deposit of $5,000, and asks the seller
to pay factors on a brand new mortgage of $eighty,000. Susan counters at a rate of $87,500
and is of the same opinion to pay 4 factors on a loan of $eighty two,500. Henry accepts.
Henry qualifies for the loan at an interest charge of nine% and has the same opinion to pay a
1% origination rate. The month-to-month fee for predominant and hobby is $663.81. Henry
also could be charged for prepaid hobby for the balance of the month of ultimate. The
closing date is September 15, and Henry is charged for the day of ultimate.
Henry will purchase an coverage policy for $720. City and county taxes are $760. Susan
agreed to pay her personal legal professional's charges of $125. Henry need to pay $130 for
legal professional's costs, $56 to file the loan, $6 to document the deed, and $640 for name
coverage.
The payoff on Susan's present m - ANSDebit Susan $612.50.
An settlement to hold open for a fixed time period a proposal to promote or rent actual
belongings is - ANSan alternative contract.
Susan lists her domestic with broker William for $90,000 on March sixteen. On August 1,
Henry makes a suggestion of $eighty five,000, followed by way of a binder deposit of
$five,000, and asks the vendor to pay points on a new mortgage of $eighty,000. Susan
, counters at a price of $87,500 and agrees to pay four points on a mortgage of $eighty
two,500. Henry accepts.
Henry qualifies for the loan at an hobby charge of 9% and concurs to pay a 1% origination
charge. The monthly fee for essential and hobby is $663.81. Henry also can be charged for
prepaid hobby for the balance of the month of ultimate. The ultimate date is September 15,
and Henry is charged for the day of ultimate.
Henry will buy an insurance policy for $720. City and county taxes are $760. Susan agreed
to pay her own legal professional's fees of $one hundred twenty five. Henry must pay $a
hundred thirty for legal professional's costs, $56 to file the loan, $6 to report the deed, and
$640 for identify coverage.
The payoff on Susan's existing m - ANSDebit Susan; credit score Henry $535.12.
Callers who're asking about belongings they saw from a signal commonly ask for the -
ANSprice.
A comparative market evaluation (CMA) with changes assumes that - ANSadjustments for
variations were made to the similar assets.
The Florida Realtors® agreement requires that the seller warrant appliances, heating and
cooling systems, and plumbing structures to be in running order - ANSat closing.
Susan lists her domestic with broker William for $90,000 on March 16. On August 1, Henry
makes an offer of $85,000, observed with the aid of a binder deposit of $five,000, and asks
the vendor to pay points on a new mortgage of $80,000. Susan counters at a price of
$87,500 and concurs to pay 4 factors on a loan of $eighty two,500. Henry accepts.
Henry qualifies for the loan at an interest price of 9% and has the same opinion to pay a 1%
origination fee. The monthly price for predominant and interest is $663.Eighty one. Henry
additionally will be charged for prepaid interest for the stability of the month of remaining.
The final date is September 15, and Henry is charged for the day of closing.
Henry will purchase an coverage policy for $720. City and county taxes are $760. Susan
agreed to pay her personal lawyer's expenses of $one hundred twenty five. Henry must pay
$a hundred thirty for lawyer's costs, $56 to file the loan, $6 to file the deed, and $640 for
identify insurance.
The payoff on Susan's existing m - ANS$837.32
A broking who works with a seller is legally presumed to be - ANSa transaction broker.
The ratio of monthly housing charges to month-to-month income is - ANSthe housing rate.
A similar assets offered two months in the past for $138,000. It has 4 bedrooms (the subject
belongings has three) and is one hundred sixty square toes large as a result. An analysis
shows that the additional room/area makes an $eight,000 difference. The problem is newer
and in barely better situation, so you estimate a distinction of $5,000.
The adjusted sales fee of the comparable property is - ANS$one hundred thirty five,000.
A lead-based paint threat disclosure should be made if the house being sold turned into built
earlier than - ANS1978.
