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Florida Real Estate Exam Questions with Correct Answers
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Florida Real Estate Exam Questions with Correct Answers Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the de...

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  • October 3, 2024
  • 42
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • florida real estate exam questions with correct an

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  • Florida real estate
  • Florida real estate

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EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024

Florida Real Estate Exam Questions
with Correct Answers

Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a

down payment and gets a mortgage in the amount of $150,000.00 and there is no other

consideration for the transfer. How much will the doc stamp tax on the deed be?




1) $1,050.00

2) $1,260.00

3) $630.00

4) $525.00 - Answer✔✔-$1,260.00



Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x

$0.70 = $1260.00 tax due.

Heather has been using a roadway at the back of the 22 acres Pam owns. She has

been driving down the roadway almost every day without permission for over 20 years.

This is called what?



1) easement appurtenant.

2) easement by prescription.

3) easement in gross.



1/42

,EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
4) easement by necessity. - Answer✔✔-2) easement by prescription

When purchasing an existing condominium, the buyer must receive which of the

following?



1) Annual operating budget

2) A prospectus

3) Rules and Regulations

4) Articles of incorporation of the association - Answer✔✔-4) Articles of incorporation

of the association

Todd is an 89-year-old veteran that is legally blind and partially disabled due to injuries

he sustained in the military. His home has an assessed value of $150,500. How much

will his taxable value be for county taxes?



1) $55,500

2) $95,000

3) $100,500

4) $110,000 - Answer✔✔-2) $95,000

A contract for deed is also called what?

1) Deed in lieu of foreclosure

2) Land Contract

3) Novation

4) Sales Contract - Answer✔✔-2) Land Contract

2/42

,EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
The cost of borrowing money is called what?

1) Interest

2) Leverage

3) Capitol

4) Credit - Answer✔✔-1) Interest

Sally is buying a home and the closing date is set for April 20th. The annual property

taxes are $1234.00 and have not been paid yet. How much will the buyer be credited

and the seller be debited?



1) $371.80

2) $368.51

3) $375.18

4) $370.36 - Answer✔✔-$368.51



Step 1: Find the daily rate; property taxes for the year ($1234.00) / 365 days = $3.38;

Step 2: Seller will credit buyer from January through midnight the day before closing.

Calculate the exact number of days; January 31 + February 28 + March 31 + April 19 =

109 days; Step 3: Multiply the daily rate ($3.3808219178) x Number of days (109) =

$368.51

A Landlord has how many days to return a tenants security deposit if not making a claim

on the deposit?




3/42

, EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
1) 10

2) 15

3) 30

4) 45 - Answer✔✔-15

A buyer's loan payment will change if which of the following occur?



1) They have an ARM loan

2) The property taxes increase or decrease

3) Their homeowner's insurance increases

4) All of the above - Answer✔✔-All of the above

Which statute covers the procedural process?



1) Chapter 455

2) Chapter 120

3) Chapter 475

4) Chapter 20 - Answer✔✔-Chapter 120

Which brokerage relationship duty applies to all three types of brokerage relationships?



1) Accounting for all funds

2) Loyalty

3) Using skill, care, and diligence

4) Confidentiality - Answer✔✔-Accounting for all funds

4/42

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