Florida Real Estate Exam Tested Questions With Revised Correct Detailed Answers >Latest Update>>
5 views 0 purchase
Course
Florida Real Estate
Institution
Florida Real Estate
Florida Real Estate Exam
Tested Questions With Revised
Correct Detailed Answers
>Latest Update>>
An agency relationship is formed when a customer:
A. Asks for information about a particular property
B. Pays a broker for help
C. Asks questions about a broker's services and qu...
Florida Real Estate Exam
Tested Questions With Revised
Correct Detailed Answers
>Latest Update>>
An agency relationship is formed when a customer:
A. Asks for information about a particular property
B. Pays a broker for help
C. Asks questions about a broker's services and qualifications
D. Gives a broker authority to act on his/her behalf - ANSWER D. Gives a
broker authority to act on his/her behalf
A broker who represents both the buyer and seller in a real estate transactions is
a: - ANSWER Transaction broker
The main difference between a single agent and a transaction broker is: -
ANSWER The fiduciary representation to one customer
Joe is selling a duplex he owns. He has asked broker Arthur to simply show the
property for him and has not discussed compensation or expectations with
Arthur. What type of broker relationship do these two men have? - ANSWER
No brokerage relationship
,Under what conditions may a sales associate collect a commission for a real
estate transaction?
A. If the sales associate performed all acts for the transaction
B. If the sales associate obtains permission from his or her employer to collect the
commission in the sales associate's name
C. If the sales associate has permission form his or her employer to collect the
commission and collects it in the employer's name
D. If the sales associate collects the commission in his or her own name -
ANSWER C. If the sales associate has permission from his or her employer to
collect the commission and collects it in the employer's name
Sales associate Stephen wants to sell Ivonne's property and earn a commission
for doing so. How may Stephen legally sell the property and earn the
commission? - ANSWER Stephen would need to act under his register
employer and collect the commission in his employer's name.
The Florida Antitrust Act of 1980 was enacted
A. Because federal antitrust laws are outdated
B. To complement the federal antitrust laws
C. Because there are no federal antitrust laws
D. To replace federal antitrust regulations in FLorida - ANSWER B. To
complement the federal antitrust laws
Florida allows brokers to deposit personal funds into a sales escrow account.
What is the allowed limit of personal funds? - ANSWER $1,000
,Florida allows brokers to deposit personal funds into a property management
escrow account. What is the allowed amount of personal funds in this type of
account? - ANSWER $5,000
Under Florida Deceptive and Unfair Trade Practices, the penalty for willful unfair
or fraudulent advertising is: - ANSWER Civil penalty of not more than
$10,000
If a broker's registered office is located outside of Florida, which of the following
is correct?
A. The broker must personally appear at any office of the FREC if requested in
relation to an investigation
B. FREC will not Susie licenses to brokers with offices outside Florida
C. The broker must pay an annual $300 foreign office fee to FREC
D. The broker is not regulated by FREC if their office is outside of Florida, even if
they practice real estate in FLorida - ANSWER A. The broker must personally
appear at any office of the FREC if requested in relation to an investigation
A broker has not violated Florida antitrust laws if he/she
A. Agrees with another brokers to set commission rates
B. Gets other brokers to boycott a competition for discounting rates
C. Meets with another brokerage to compare listed properties
D. Meets with another brokerage to set the percentage amount of commission
splits offered in the market - ANSWER C. Meets with another brokerage to
compare listed properties
, Which of the following is not covered by the provisions of the Florida Residential
Landlord and Tenant Act?
A. A leased condominium occupied by the owner
B. A private drug rehabilitation facility
C. A hotel offering long-term stays
D. A leased cooperative apartmner - ANSWER A. A leased condominium
occupied by the owner
When applying for a Florida real estate license, the applicant must disclose if his
or her license has been disciplined in any other jurisdiction, or - ANSWER His
or her Florida license can be denied
Andrew lives outside Florida and practices real estate in a mutual recognition
state. To practice real estate in Florida, which of the following is required of
Andrew?
A. Andrew must become a Florida resident
B. Nothing, Andrew is already eligible to practice real estate in FL
C. Andrew must pass FL licensing laws exam with score of 75% or higher
D. Andrew must pay FREC a one-time $1,000 activation fee - ANSWER C.
Andrew must pass FL licensing laws exam with score of 75% or higher
The requirements for a broker placing deposits into an interest-bearing escrow
account do not include:
A. The escrow account must be insured
B. The deposit owner (e.g., buyer) must be a signatory on account
C. The escrow account must be inFlorida
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 EWLindy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
