Exam (elaborations)
Post Licensing Exam for Sales Associate in FL Questions And Answers Graded A+ 2024/2025
- Course
- Institution
Post Licensing Exam for Sales Associate in FL Questions And Answers Graded A+ 2024/2025
[Show more]
Content preview
Post Licensing Exam for SalesAssociate in FL
A property is in all likelihood to sell quicker if it's miles priced at the... - ANS"sold" segment of
the CMA
Voluntary Inactive - ANSThe license status that consequences whilst a licensee has met all
of the necessities for licensure, yet the licensee chooses not to have interaction within the
real estate commercial enterprise, and has asked that the license be placed in this
reputation.
Involuntary Inactive - ANSA income partner who works for a dealer whose license is revoked
through the FREC) may have his/her license positioned in ________ reputation .
Most traditional res loan lender have adopted the Fannie cautioned housing cost ratio and
the total long time duties ratio calculated from gross profits amounts for underwriting loans.
The fannie mae ratios for housing fees (HER) and the total obligations (TOR) currently range
from - ANS28% (HER) and 36% (TOR)
The best way to collect product know-how is to... - ANSBe within the market area
Broker who works with a seller is legally presumed to be... - ANSTransaction broker. FL law
presumes that a licensee is a transaction broker until the licensee enters into another
brokerage dating with the customer.
The procedure of evaluation the risks worried in issuing a brand new actual property loan is
usually called - ANSLoan Underwriting. Loan underwriting is the assessment of the risks
involved when issuing a brand new mortgage. This process includes qualifying the borrower
and the property to decide whether or not they meet the minimum requirements set up by
way of the lender, investor, or secondary marketplace in which the mortgage is to be bought.
The closing date for a transaction is Sept. 15. If annual assets taxes are $760 and a lender
wants a 3 monthtax escrow plus the quantity of months via the day of ultimate, what is the
quantity of prepaid taxes the lender collects at closing? - ANS$760 The ultimate month is
Sept (9th month). Add three greater months and which means the lender wishes a complete
year of taxes. Annual taxes are $760.
When the yearly debt provider is subtracted from NOI, the end result is - ANSBefore-tax
cash waft
A bilateral settlement spelling out the entire phrases among a consumer and a supplier for
the switch of a parcel of actual assets is - ANSSales agreement.
, A similar assets sold 2 months in the past for 138K. It has four beds (problem has 3) and is a
hundred and sixty SF larger as a end result. An evaluation indicates that the extra
room/space makes a 8K difference. The difficulty is newer and in barely higher situation, so
that you estimate a distinction of 5K. Due to the difference in SF and Beds, you are making
a... - ANSMinus 8K adjustment to the similar. Because its large the adjustment could be
minus 8k to the sales fee of the comparable
A house sells for 87,500. How are the documentary stamp taxes at the deed dealt with at the
final assertion? - ANS612.50. The dealer pays for the stamp taxes at the deed. Divide the
income fee by means of a hundred then round to the following maximum one hundred and
multiply that with the aid of with the aid of $zero.70
What is the most vital in a sales agreement? - ANSLegal Description. A defective Legal
description can render the agreement unenforceable.
The courting between a belongings's NOI and its present value is the - ANSCapitalization
Rate
The monthly price for P and I is $663.81. Annual ins is $720. City and County tax are $760
annually. Mortgage ins premium is $50.18 according to month, what is the overall monthly
charge (PITI) on the mortgage? - ANS$837.32. Monthly price is calculated by means of
including the P&I and 1/12 of the tax ins and PMI.
A dealer received a 90 day listing settlement that has self -renewing provision extending the
settlement on an extra 60 days days after expiration except both party cancels in writing.
The list settlement is? - ANSVoid. Listing contracts with a self renewing provision aren't
felony and are void below FL regulation
Which illegal declaration might MOST possibly be termed steering? - ANS"Are you positive
that you may be cozy in this predominately white community"
A lead primarily based paint danger disclosure should be made if the house being offered
changed into built before... - ANS1978. This disclosure should be made before the
settlement is signed and a ten day duration to conduct an inspection.
The ratio of month-to-month housing prices to month-to-month income is the? - ANSHousing
price
MOST listings expire because they're... - ANSOverpriced for the market
The FL REALTORS contract calls for that if the vendor cannot whole the specified repairs by
using closing, that the... - ANSSeller pays for the maintenance at ultimate
To make sure maximum destiny fee of the homes, subdivisions restrictions rely upon the
precept of ? - ANSConformity. They ought to be comparable in layout, construction and age
to other homes inside the community.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Tutor96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. 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
