100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
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

 12 views  0 purchase
  • Course
  • Bob Hogue Real Estate Class
  • Institution
  • Bob Hogue Real Estate Class

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...

[Show more]

Preview 4 out of 93  pages

  • September 11, 2024
  • 93
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bob Hogue Real Estate Class
  • Bob Hogue Real Estate Class
avatar-seller
ExcellentScores
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

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 ExcellentScores. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81531 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
$11.99
  • (0)
  Add to cart