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Bob Hogue Real Estate Class Test Questions and Answers Already Passed $11.99   Add to cart

Exam (elaborations)

Bob Hogue Real Estate Class Test Questions and Answers Already Passed

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Bob Hogue Real Estate Class Test Questions and Answers Already Passed What is the penalty for practicing real estate without a license in Florida? It is considered a third-degree felony. What must happen for a contract to be considered legally enforceable in real estate? The contract mus...

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  • September 11, 2024
  • 93
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bob Hogue Real Estate Class
  • Bob Hogue Real Estate Class
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Bob Hogue Real Estate Class Test
Questions and Answers Already Passed
What is the penalty for practicing real estate without a license in Florida?


✔✔ It is considered a third-degree felony.




What must happen for a contract to be considered legally enforceable in real estate?


✔✔ The contract must have an offer, acceptance, consideration, and be in writing if required by

the Statute of Frauds.




How many days does a buyer have to cancel a new residential condominium contract after

signing?


✔✔ 15 days.




What is required to activate an inactive real estate license in Florida?


✔✔ Submission of a proper request and completing continuing education requirements.




What is the purpose of a property appraisal?


✔✔ To estimate the market value of a property.


1

,How many members serve on the Florida Real Estate Commission (FREC)?


✔✔ Seven members.




When is a real estate agent considered to have earned their commission?


✔✔ When they have secured a ready, willing, and able buyer for the property.




What is the legal age to apply for a real estate license in Florida?


✔✔ 18 years old.




What does it mean if a property is held in "joint tenancy"?


✔✔ It means multiple owners share equal ownership, with the right of survivorship.




What is a net listing in real estate?


✔✔ A listing where the seller specifies a minimum price they want, and the broker keeps any

excess as commission.




What must happen if a dispute arises over escrow funds?


2

,✔✔ The broker must notify the Florida Real Estate Commission (FREC) and follow its

procedures.




How many hours of post-licensing education must a sales associate complete before their first

license renewal?


✔✔ 45 hours.




What is an example of "puffing" in real estate?


✔✔ Exaggerated or subjective statements about a property, such as claiming it has "the best view

in town."




What is the homestead exemption in Florida?


✔✔ A tax exemption that reduces the assessed value of a primary residence, offering property

tax savings.




What does the term "blockbusting" refer to in real estate?


✔✔ The illegal practice of encouraging homeowners to sell their properties by suggesting that

demographic changes in the neighborhood could negatively affect property values.




3

, What is required for a deed to be valid in Florida?


✔✔ The deed must be signed by the grantor and witnessed by two people.




What is the meaning of "title insurance"?


✔✔ It protects the buyer and lender from potential issues with the property's title.




What is the purpose of a Comparative Market Analysis (CMA)?


✔✔ To help estimate a property’s value by comparing it to recently sold properties in the area.




What is a "lead-based paint disclosure" and when is it required?


✔✔ A document required for properties built before 1978 to inform buyers of potential lead

paint hazards.




What is the role of a transaction broker in Florida?


✔✔ A transaction broker provides limited representation to both buyer and seller without a

fiduciary relationship.




How can a real estate license be voluntarily relinquished?


4

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