FREC EXAM 1 questions and 100% correct answers 2024
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Course
FREC
Institution
FREC
How many members from the FREC make up the probable cause panel in a compliance process? - correct answer Two
What is the maximum payout limit from the Recovery Fund if there are multiple judgements against a licensee? - correct answer $150,000
A landlord in Florida rented out his apartment t...
FREC EXAM 1
How many members from the FREC make up the probable cause panel in a compliance process? -
correct answer Two
What is the maximum payout limit from the Recovery Fund if there are multiple judgements against a
licensee? - correct answer $150,000
A landlord in Florida rented out his apartment to a tenant last year. A security deposit was paid to the
landlord, which was kept by him in a security bond. how much interest does the landlord owe to the
tenant this year? - correct answer 5%
Which of the following is not included in the five federal mortgage laws in the United States? - correct
answer The Environmental Preservation Act
A landlord refuses to rent his house to a family that has a young child with Down Syndrome. In this
scenario, the landlord is violating which of the following federal laws? - correct answer The Fair Housing
Act
The Environmental Protection Agency is allowed to set National Ambient Air Quality Standards to ensure
public safety under which of the following federal acts? - correct answer The Clean Air Act
Mr. John sold his country house in the summer to Mr. Alex. During the winter, Mr. John comes back to his
country house wanting to cut down a pine tree from the back area of the estate. He reasons that he
planted these trees himself in his youth, and they are his property despite selling the house. Mr. Alex
counters that no such condition was mentioned in the transaction documents. In this scenario, the pine
trees are considered what kind of property? - correct answer Real property
Which of the following is not one of the five general rights included in the bundle of rights for property
ownership? - correct answer Condemnation
, Which of the following estates does not include any ownership or inheritance rights of property? -
correct answer Non- freehold estate
The right of survivorship is included in which type of tenancy? - correct answer Joint tenancy
Which of the following will not be considered a fixture item during a property sale? - correct answer
Curtains
Which of the following kinds of real estate includes the highest interest in a given property? - correct
answer Fee-Simple
Tom continues to live on Mr. Wright's property even though his lease ended three months ago. Mr.
Wright is out of the country at the moment; however, he has called Tom several times, asking him to
move out. Tom refuses to budge. Tom's possession of Mr. Wright's property is called_____. - correct
answer Tenancy of sufferance
Under the Florida Homestead Exemption law, what amount is exempt from the tax levied on a
permanent residence as long as the property is owned on Jan 1 of the tax year? - correct answer $25,000
or the first $50,000
In Florida, deed restrictions are rules and regulations made by ____ - correct answer a homeowners
association
Mr. Smith is found to have committed tax fraud for the past 5 years. The IRS is looking into his assets to
recover all stolen funds. What kind of lien does the IRS have on Mr. Smith's propery? - correct answer
General Lien
There is a shortage of gas in a Florida neighborhood, and the gas company needs to install extra
pipelines on state orders. The company employees ask Mr. Miller to let them dig through her front yard
to install pipes. Which of the following describes this situation? - correct answer Easement
A real estate agent explains to a family looking at a potential house purchase that this area is prone to
floods, which is why the house has fences and flood gates. This conversation is overheard by Rachel, who
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