THESE ARE THE QUESTIONS THAT I GOT ON THE TEST

1. What type of relationship has probably been formed if two or more

parties agree to combine their efforts for a single business
transaction?
RR// joint venture
What type of relationship has probably been formed if two or more
parties agree to combine their efforts for a single business
transaction?
RR/// Joint project

2. A city is in need of additional land for a new school. what right

would the city have to acquire the land, even over the objections of
the property owner?
RR// eminent domain
A city needs additional land for a new school. What right would the
city have to acquire the land, even over the objections of the
property owner?
RR/// eminent domain

3. Which type of deed would be the best to convey property from the
standpoint of the grantor?
RR/// quitclaim
What type of deed would be best for transferring property from the
grantor's point of view?
RR// Resignation or termination

4. The
5. An applicant for a real estate license has been denied by the
department of business and professional regulation. Which
statement is correct concerning this denial?
RR/// the applicant must be notified in writing of the reason for the
denial and advised of the right to request a formal hearing
 an applicant for a real estate license has been denied by the
department of business and professional regulation. Which
statement is correct with respect to this negation?
The applicant must be notified in writing of the reason for the denial
and informed of the right to request a formal hearing.

6. which concept of value pertains to appraisals of profitable business

enterprises or opportunities?
RR// going concern
What concept of value refers to evaluations of profitable business
ventures or commercial opportunities?
RR// Value of a going concern

7. a seller and broker enter into a six month agreement where the
seller agrees to pay a commission to the broker, regardless of who
actually sells the property. what type of contract is this?
RR// exclusive right of sale listing
a seller and a broker enter into a six-month contract in which the
seller agrees to pay a commission to the broker, regardless of who
actually sells the property. What type of contract is this?
RR/// exclusive right of sale contract

8. these are all examples of eminent domain, except

RR/// the city wishes to put up a large shopping center/ movie
theater complex.
These are all examples of eminent domain, except for
RR/// the city wishes to install a large shopping mall/cinema
complex.

9. Fred, a licensed sales associate, was registered with broker harry,

when he claimed that harry had failed to pay a sales commission
due him. if Fred resigned an was employed under broker Norman
before the dispute was resolved, which statement would be correct?
RR// fred cannot bring a legal action for the claimed commission
against anyone other than harry
Fred, a licensed sales associate, was registered with broker Harry,
when he claimed that Harry had failed to pay a sales commission
owed to him. if Fred resigned and was employed under broker Norman
before the dispute was resolved, which statement would be correct?
RR//Fred cannot take legal action for the commission claimed against
anyone other than Harry.

10. FHA housing expense ratio and total obligations ratios,

correspondingly, cannon exceed which of the following limits?
RR//31% and 43%.
Which of the following limits exceeds the FHA housing expense ratio
and total obligation ratios, correspondingly?
RR/// 31% and 43%.

11. what is the price of state documentary stamp tax on the deed
for property that is located outside of Dade county?
RR/// Seventy cents per hundred dollars of sales price plus seventy
cents for any fractional part of a hundred dollars of sales price
What is the state documentary stamp tax rate on deeded property
located outside of Dade County?
RR/// Seventy cents per hundred dollars selling price plus seventy
cents for any fraction of one hundred dollars selling price

12. three sisters buy a home. They each have equal portions of
possession, interest, time and title. they decide that upon death, the
survivor will acquire their shares. what type of tenancy exists?
RR// joint tenancy

three sisters buy a house. Each has equal shares of possession,

interest, time and title. decide that upon death, the survivor will
acquire his or her shares. What type of lease is there?
RR// joint tenancy or joint tenancy

13. which tax applies to a new mortgage but not to an assumed

mortgage?
RR// intangible tax
 What tax applies to a new mortgage but not to a deemed
mortgage?
RR// intangible taxes

14. which approach to value would most likely be selected to

determine the value of the county Court House?
RR// cost Depreciation
What approach to value would likely be selected to determine the
value of the County Courthouse?
RR// cost-depression

15. which of the following is not a primary lender

RR// Government National Mortgage Association
which of the following is not a senior lender
the Government National Mortgage Association

16. Which document specifies the amount of the mortgage loan, the
interest rate, loan term, and repayment schedule?
RR// promissory note
In a loan, which legal document is the one that contains the interest
rate, loan amount, maturity date and payment schedule ?
RR// the promissory note

17. three persons own a parcel of property with equal rights of use
and possession. They have equal interests and acquire their
interests by same or different?
RR/// tenancy in common):
three persons own a parcel of property with equal rights of use and
possession. Do they have equal interests and do they acquire their
interests equally or differently?
RR// Tenancy in common

18. What does an over-improved property suffer from?

RR// functional obsolescence
What does an over-improved property suffer from?
RR// functional obsolescence
19. which of the following is a possible disadvantage of investing in
real estate?
RR// illiquidity
Which of the following is a possible disadvantage of investing in real
estate?
RR// liquidity

20. what is the name for a person who has passed the state broker
license examination but continues to be employed by an actively
licensed real estate broker?
RR// broker associate

What is the name of a person who has passed the state broker's
licensing exam but is still employed by an actively licensed real
estate broker?
RR// Associate broker

21. how many contractual rights be transferred from one person to

another?
RR// assignment
With which document can the rights of a contract be transferred
from one party to another?
RR/// allocation

22. what is a broker's proper course of action when he or she has

listed a property and found that the title to the property is NOT
merchantable?
RR// immediately notify the owner regarding the condition of the title
What is a broker's correct course of action when he or she has
listed a property and has found that the title to the property is NOT
marketable?
RR/// immediately notify the owner of the condition of title

23. when a loan is fully repaid, the lender will provide the mortgagor
with which document?
RR// letter of satisfaction
 when a loan is paid in full, the lender will provide the mortgagor with
what document?
RR//letter of satisfaction

24. All of the following statements are true regarding a broker's

office, EXCEPT
RR/// the office can be located in a motorhome provided the
letterheads and advertising of the firm properly disclose it as an
office
All of the following statements are true regarding a broker's office,
EXCEPT
The office may be located in a mobile home as long as the
company's letterhead and advertising properly indicates it as an
office.

25. the value of a business that is failing and not expected to

continue would best be determined using which valuation method?
RR/ liquidation value):/
Which valuation method would best determine the value of a
business that is failing and is not expected to continue?
RR/// Settlement value

26. what term refers to the illegal practice of inducing homeowners

to list or sell their property bt telling them that minorities are moving
into their neighborhood?
RR// blockbusting

What term refers to the illegal practice of inducing property owners

to list or sell their properties and telling them that minorities are
moving into their neighborhood?
RR/// square-breaker

27. what is the opposite of erosion?

RR// accretion
Whatis the opposite of erosion?
RR// accretion
28. what is the special assessment?
RR/// a tax levy that is used to pay for public improvements that add
value to the property
What is the special evaluation?
RR/// a tax levy that is used to pay for public improvements that add
value to property

29. a listing broker is employed to find a purchaser and produces a

full cash offer that meets the seller's terms. the seller refuses to
accept the offer because he doesn't like the buyer. which condition
exists?
RR/// the broker is entitled to compensation since he produced a
buyer who met the seller's terms for the sale.
a broker is employed to find a buyer and produces a complete cash
offer that meets the seller's terms. the seller refuses to accept the
offer because he does not like the buyer. What condition exists?
RR/// the broker is entitled to compensation since it produced a
buyer who complied with the seller's terms for the sale.

30. which statute stipulates the time periods during which a party
may sue for the enforcement of a contract?
RR// Statute of Limitations
What statute stipulates the time periods during which a party may
sue for the performance of a contract?
RR// statute of limitations

31. which federal law requires that borrowers be informed of all

settlement cost involved in the purchase of a home when funds are
obtained from a federally regulated lender?
RR// real estate settlement procedures act
Which federal law requires borrowers to be informed of all
settlement costs involved in the purchase of a home when funds
are obtained from a federally regulated lender?
RR/// law of real estate liquidation procedures
32. in a lien theory state, who holds title to mortgaged real
property?
RR// mortgagor
in a lien theory state, who holds title to mortgaged real property?
RR// borrower or debtor

33. the concept that states that an informed buyer will pay no more
for a property than the cost of acquiring another equally desirable
property with the same or equal utility is based upon which of the
following?
RR// principle of substitution
On which of the following is the concept based that states that an
informed buyer will not pay more for a property than the cost of
acquiring another equally desirable property with the same or equal
utility?
RR// substitution principle

34. A business known as the ABC company is legally formed as

what type of business?
RR// CORPORATION FOR PROFIT
A company known as ABC company is legally formed as what type
of business?
RR// FOR-PROFIT CORPORATION

35. in a township, which section is two sections west of section 10?

RR// 8
in a municipality, which section is two sections west of section 10?
RR//8

36. which clause in a mortgage limits the lender's rights in a

foreclosure to the amount received from the sales proceeds and
prohibits the lender from seeking a deficiency judgment?
RR// exculpatory clause
Which clause in a mortgage limits the lender's rights in a
foreclosure to the amount received from the sale proceedings and
prohibits the lender from seeking a deficiency judgment?
RR// Exculpatory clause
37. when a sales contract for residential real property includes the
"as is " provision, which statement correctly applies?
RR/// In the state in which they are ": does not exempt
to the seller of the responsibility to disclose any material defect
when a residential real estate sales contract includes the "as is"
provision, which statement is properly applied?
RR/// In the state they are in": does not exonerate
the seller from the responsibility of disclosing any material defect
affecting the value of the property.

38. If sales associate sherri receives an offer to purchase a listed

property which is accompanied by a post-dated check, what should
she do?
RR// immediately give the check to her employing broker
If the sherri sales associate receives an offer to purchase a listed
property that is accompanied by a post-dated check, what should
she do?
RR/// immediately deliver the check to the broker broker

39. I took it out bad

40. three individuals form a brokerage partnership, if each of the

partners intends to provide real estate services to others, which
statement would be correct?
RR// all three partners must be licensed as active brokers
three persons form a brokerage partnership, if each of the partners
intends to provide real estate services to another, which statement
would be correct?
RR/// the three partners must be licensed as active brokers

41. john recently purchased a home from Mary. Mary had owned
and lived in the home for several years and has qualified for and
filed for all allowable tax exemptions. which statement is correct?
RR/// john's taxes will likely be higher than mary's because the
limitation on taxes created by the save our homes act will be
eliminated
 John recently bought a house for Mary. Mary had owned and lived
in the house for several years and qualified for and claimed all
allowable tax exemptions. Which statement is correct?
RR/// John's taxes will probably be higher than Mary's because the
tax cap created by the Save our homes act will be eliminated.

42. What rights does an owner have whose property borders a

river?owner have whose property borders a river?
RR// riparian
What rights does a landowner whose property borders a river have?
RR// river rights

43. which act requires lenders to judge loan applicants on the basis
of credit rating, income, expenses and assets without regard to their
age, race, religion, sex, marital status, or nationality?
RR// Federal Fair Housing Act

What law requires lenders to judge loan applicants on the basis of

credit rating, income, expenses and assets without regard to age,
race, religion, sex, marital status or nationality?
RR// federal fair housing law

44. I took it out bad

45. a landlord may commingle tenants' security deposits with other
business funds under which condition?
RR// the landlord posts a surety bond
A landlord may commingle tenants' security deposits with other
commercial funds, under what condition?
RR/// the owner deposits a surety/ surety bond

46. which type of business organization may be registered as a real

estate brokerage?
RR// limited partnership
What type of business organization can register as a real estate
broker?
 RR// Limited partnership

47. Which statement about the real estate brokerage office is true?
RR/// A brokerage branch office may be closed and reopened at the
same location during the same license period by request
Which statement about the real estate brokerage office is true?
RR/// A brokerage branch may be closed and reopened at the same
location during the same license period upon application.

48. if an owner of real property have another party the right to buy
his or her property for a fixed price at any time was created?
RR// option contract

An option contract is a contract to hold "open" an offer to sell or

lease a property for a specific price and for a specific period of time.
Option contract

49. RR// what type of tenancy is formed by written agreement that

creates a non- freehold estate in real property providing occupancy
of the property for a special period?
RR// tenancy for years
What type of lease is formed by a written agreement that creates a
freehold property into a real property that provides for occupancy of
the property for a special period?
RR// tenure by years

50. in which type of lease does the tenant pay a fixed rent while the
lessor pays all real estate taxes, insurance, and maintenance?
RR// gross lease
In what type of lease does the tenant pay a fixed rent while the
landlord pays all taxes, insurance and maintenance of the real
estate?
RR// Gross lease

51. which statement best describes a void contract

RR/// a contract that cannot be enforced and cannot be performed
under the law
 Which statement best describes a void contract?
RR/// It is one that does not comply with all the requirements of a
valid contract and therefore has no legal effect.

52. what term is used for a person who has been given power of
attorney to act for another person?
RR// attorney in fact
What term is used for a person who has been granted a power of
attorney to act on behalf of another person?
RR/// proxy

53. all of the following statements are correct regarding a planned

unit development except
RR/// zero lot line homes are not permitted in an area zone PUD
all of the following statements are correct with respect to the
development of a planned unit, except
RR/// Zero lot line homes are not allowed in a PUD zoned area.

54. The chairperson of the Florida Real Estate Commission acting

alone may exercise which powers?
RR// Executive
What powers can the chairman of the Florida Real Estate
Commission exercise acting alone?
RR// executive

55. what should a broker's initial action be when entertaining doubt

as to which person is entitled to the delivery of escrowed property?
RR// notify the florida Real Estate Commission in writing
What should a broker's initial action be when in doubt as to which
person is entitled to delivery of the escrowed property?
RR// notify the Florida Real Estate Commission in writing.

56. A sales associate has decided to concentrate on trying to obtain

listings from a particular neighborhood. the associate believes this
should increase knowledge of the market and improve the likelihood
of success. which term refers to approachto the real Estate
business?
 RR// Farming
A sales associate has decided to concentrate on trying to obtain a
listing in a particular neighborhood. the partner believes this should
increase market awareness and improve the likelihood of success.
Which term refers to the real estate business approach?
RR/// cultivation

57. Which real property identifier is assigned by the county property

assessor to uniquely identify a property?
RR/// parcel number
What real property identifier does the county property appraiser
assign to uniquely identify a property?
RR/// parcel number

58. Ted, a Michigan real estate broker, referred a customer to

broker Wendy in Tampa with the understanding that Ted would
receive a portion of any commission earned.
The costumer purchased a home with Wendy's assistance. if Ted
did not participate in the transaction and Wendy mailed Ted a
portion of the commission. Which of the following statements
applies?
RR// the florida real estate license law was not violated
Ted, a Michigan real estate broker, referred a client to broker
Wendy in Tampa with the understanding that Ted would receive a
portion of any commission earned.
The client purchased a home with Wendy's assistance. if Ted did
not participate in the transaction and Wendy sent Ted a portion of
the commission. Which of the following statements applies?
RR// There was no violation of Florida's real estate licensing law.

59. A homeowner in a neighborhood with homes value in the

$1000000 range adds an in-ground pool at a cost of $75000. This is
an example of which of the following?
RR// over improvement
A homeowner in a neighborhood with a home value in the
$1000000 range adds an in-ground pool at a cost of $75000. This is
an example of which of the following?
 RR/// improvement

60. Each of the following is a valid form of co-ownership, except

RR// estate in severalty
Each of the following is a valid form of co-ownership, except for
RR/// sole proprietorship
61. which term refers to the primary reference point in a metes and
bounds legal description of real property?
RR// point of beginning
Which term refers to the main reference point in a legal description
of measurements and boundaries of real estate?
RR// point of beginning starting point

62. a homeowner receives a property tax assessment for 2018.

when does the property tax become delinquent?
RR// April 1st, 2018
a homeowner receives a property tax assessment for 2018. When
does the property tax become delinquent?
RR// 1 April 2018

63. an owner-developer may employ a sales associate to perform

real estate services for property belonging to the owner-developer.
what are the registration and real estate licensing requirements for
an owner-developer?
RR// must be registered, but not licensed
an owner-developer may hire a sales associate to perform real
estate services for the property owned by the owner-developer.
What are the real estate registration and licensing requirements for
an owner-developer?
RR/// must register with the DBPR, but does not require a license.

64. a sales contract called for a $10000 secondary deposit to be

paid by june 1st. the sales associate forgot to collect the deposit.
which statement correctly applies this situation?
RR/// the associate seller could be at fault for culpable negligence
 a sales contract required a secondary deposit of $10,000 to be paid
by June 1. the sales associate forgot to collect the deposit. Which
statement correctly applies this situation?
RR/// the associated vendor could be at fault for culpable
negligence

65. which item will show as a credit to the buyer on a closing

statement?
RR// binder deposit
Which item will be shown as a credit to the buyer on a closing
statement?
RR// folder deposit

66. when estimating depreciation of an improvement, which age will

the appraiser use?
RR// efective age
when estimating the depreciation of an improvement, what age will
the appraiser use?
RR// the effective age

67. which statement is correct concerning a corporation registered

to broker real estate?
RR// at least one officer must be an active broker
Which statement is correct regarding a corporation registered as a
real estate broker?
RR/// at least one officer must be an active rider

68. sally received her initial sales associate's license on july 19,
2018 with an expiration date of march 31, 2020. what is the satys of
her license if she does not complete a 45 hours post-license course
prior ot expiration?
RR// void
Sally received her initial sales associate license on July 19, 2018
with an expiration date of March 31, 2020. What are the conditions
of your license if you do not complete a 45-hour post-license course
prior to its expiration?
RR// null and if value
69. after defaulting on mortgage payments but prior to foreclosure,
the mortgagor has the right to redeem his or her interest in the
mortgages property by paying the money owed the lender. what
term is used for this right?
RR// equity of redemption
after defaulting on mortgage payments but before foreclosure, the
mortgagor is entitled to redeem his or her interest in the mortgage
property by paying the money owed to the lender. What term is
used for this right?
RR/// Right of redemption
These are the answers I selected, so if we
have the same test they will work for you,
BECAUSE AT THIS POINT I STOP COPYING
QUESTIONS.
70. A
71. D (oral offer must be disclosed by the seller)
72. A
73. C
74. D
75. I CHOSE OPTION C AND GOT IT WRONG.
76. I CHOSE OPTION D AND GOT IT WRONG.
77. B
78. B
79. D
80. D
81. I CHOSE OPTION C AND GOT IT WRONG.
82. C
83. C
84. I CHOSE OPTION A AND GOT IT WRONG.
85. D
86. C
87. A
88. C
89. D
90. B
91. C
92. C
93. I CHOSE OPTION A AND GOT IT WRONG.
94. D
95. I CHOSE OPTION C AND GOT IT WRONG.
96. C
97. C
98. B
99. C
100. I CHOSE OPTION C AND GOT IT WRONG.