#1. Which of the following best describes the primary economic characteristic that distinguishes real estate from most other commodities?
#2. A Florida sales associate moved and changed their mailing address. Within how many days must the licensee notify the DBPR in writing?
#3. Which of the following individuals would be REQUIRED to hold an active Florida real estate license?
#4. To qualify for a Florida real estate sales associate license, an applicant must complete how many hours of FREC-approved pre-license education?
#5. After being licensed for the first time, a Florida sales associate must complete post-licensing education before the FIRST license renewal. The required hours are:
#6. Which of the following is the MINIMUM age requirement and education requirement to apply for a Florida real estate sales associate license?
#7. A licensee who allows a license to become involuntarily inactive for more than 12 months but less than 24 months must:
#8. How many members serve on the Florida Real Estate Commission (FREC), and how many must be consumer members who have never been brokers?
#9. The Division of Real Estate is housed within which Florida agency?
#10. In a transaction broker relationship in Florida, which of the following duties is NOT owed to the customer?
#11. In Florida, the presumption of brokerage relationship in a residential transaction is:
#12. A single agent who wishes to transition to transaction broker must:
#13. A licensee acting as a single agent for a seller learns that the buyer intends to offer less than the buyer can actually afford. The licensee must:
#14. Which of the following Florida brokerage relationship disclosures must be made in writing BEFORE or at the time of entering into a listing agreement or showing property?
#15. Which of the following is considered culpable negligence in a real estate context?
#16. Florida law requires a licensee to disclose all known facts that materially affect the value of RESIDENTIAL real estate that are NOT readily observable to the buyer. This duty applies in which relationship?
#17. A Florida broker receives an earnest money deposit from a buyer. The deposit must be placed in the broker’s escrow account no later than:
#18. If a broker has conflicting demands for escrowed funds and cannot resolve the dispute, which of the following is NOT one of the four settlement procedures the broker may use?
#19. A broker must notify FREC of conflicting demands on escrow funds within how many business days after the last demand?
#20. Which of the following is an example of commingling that is prohibited under Florida law?
#21. A sales associate who changes employers must request the broker file a notice with the DBPR. The change is effective when:
#22. All real estate advertising by a sales associate must include:
#23. Brokerage offices in Florida must be registered, and each branch office must:
#24. Which business entity may NOT register as a real estate broker in Florida?
#25. An unlicensed personal assistant working for a Florida sales associate may legally:
#26. The Sherman Antitrust Act prohibits all of the following EXCEPT:
#27. A property sells for $385,000. The total commission is 6% split 50/50 between listing and selling brokerages. The selling sales associate has a 60/40 split with their broker (associate gets 60%). What does the selling sales associate earn?
#28. A broker who accepts a kickback from a title company without disclosure to the principal has violated:
#29. The maximum administrative fine FREC may impose per count for a violation of Chapter 475 is:
#30. The Florida Real Estate Recovery Fund will reimburse an aggrieved party up to a maximum of:
#31. Which of the following is a first-degree misdemeanor under Florida real estate license law?
#32. The federal Fair Housing Act of 1968, as amended, prohibits discrimination based on all of the following EXCEPT:
#33. Under the Florida Residential Landlord and Tenant Act, when a landlord intends to impose a claim on the security deposit, written notice must be sent within how many days after the tenant vacates?
#34. Which federal law REQUIRES disclosure of lead-based paint hazards on residential properties built before 1978?
#35. Which estate provides the highest, most complete form of ownership of real property?
#36. Two unrelated friends purchase a Florida property and take title as joint tenants with right of survivorship. To create a valid joint tenancy in Florida, the four unities must be present. These are:
#37. Which form of co-ownership is presumed for a married couple taking title to Florida real property unless otherwise stated?
#38. Florida’s homestead protection from forced sale by general creditors applies to up to:
#39. The Florida homestead tax exemption available to a qualifying property owner provides exemption from property tax up to a base amount of:
#40. In a Florida condominium, the developer’s required disclosure document provided to the buyer is:
#41. A buyer of a NEW residential condominium in Florida has a statutory right to cancel the contract within how many days after signing?
#42. Which estate is created when a tenant remains in possession after the lease term expires WITHOUT the landlord’s consent?
#43. Which deed offers the GREATEST protection to the grantee through its full set of covenants?
#44. A title that is free from reasonable doubt as to its validity is referred to as a:
#45. Which of the following is an example of involuntary alienation?
#46. Which type of notice is given when a deed is properly recorded in the public records?
#47. A non-possessory right of one party to use another’s land is called:
#48. Which lien attaches to ALL property (real and personal) of the debtor and is therefore considered a general lien?
#49. A deed restriction that runs with the land is BEST described as:
#50. In the government (rectangular) survey system, a section contains:
#51. How many acres are in the NW 1/4 of the SE 1/4 of a section?
#52. A metes and bounds description must:
#53. In a township, how many sections are there?
#54. Lot and block legal descriptions reference a:
#55. The Statute of Frauds in Florida requires that contracts for the sale of real estate be:
#56. Which of the following is NOT an essential element of a valid real estate contract?
#57. A buyer makes an offer; the seller responds with a counteroffer. The original offer is:
#58. A contract entered into by a minor for non-necessities is generally:
#59. In a real estate sales contract, the buyer’s interest in the property between contract execution and closing is called:
#60. Liquidated damages in a residential sales contract typically refer to:
#61. Which of the following is a unilateral contract?
#62. A novation occurs when:
#63. Mandatory disclosure of which item is required for properties built before 1978?
#64. A buyer-broker agreement typically establishes:
#65. An option contract is BEST described as:
#66. In Florida, an exclusive RIGHT of sale listing entitles the listing broker to a commission if:
#67. Which clause in a mortgage permits the lender to demand payment of the entire balance upon a borrower’s default?
#68. The clause that allows the lender to call the loan due upon transfer of the property is the:
#69. Florida is considered a:
#70. FHA-insured loans are characterized by:
#71. VA loans are guaranteed for eligible veterans by the Department of Veterans Affairs and:
#72. Conventional loans typically require private mortgage insurance (PMI) when the loan-to-value ratio exceeds:
#73. In an assumption of an existing mortgage WITHOUT release of liability (novation), who remains liable to the lender?
#74. A balloon mortgage is BEST described as:
#75. A loan of $250,000 has an annual interest rate of 6.5%. What is the FIRST month’s interest portion?
#76. The PRIMARY mortgage market consists of:
#77. Which entity is part of the SECONDARY mortgage market?
#78. The Federal Reserve influences the mortgage market primarily through:
#79. RESPA applies to:
#80. On a Florida closing statement, documentary stamp tax on the deed is normally:
#81. Florida documentary stamp tax on a deed is calculated at:
#82. A property sells for $345,000. What are the documentary stamps on the deed (statewide rate)?
#83. Documentary stamp tax on a new note (promissory note) is:
#84. Intangible tax on a new mortgage in Florida is:
#85. On a closing statement, prepaid rent collected by the seller from a tenant is typically prorated as:
#86. Which characteristic distinguishes the real estate market from a typical centralized exchange market?
#87. USPAP stands for:
#88. The MOST PROBABLE price a property should bring in a competitive open market under all conditions requisite to a fair sale is the definition of:
#89. The appraisal approach BEST suited for a single-family residence in an active market is:
#90. Which appraisal approach is MOST appropriate for a special-purpose property such as a school or church?
#91. In the income capitalization approach, if NOI is $48,000 and the cap rate is 8%, the indicated value is:
#92. Depreciation in appraisal is BEST defined as:
#93. A Comparative Market Analysis (CMA) prepared by a sales associate:
#94. Functional obsolescence in real estate appraisal refers to:
#95. Leverage in real estate investment refers to:
#96. Positive leverage occurs when:
#97. If a Florida property has an assessed value of $250,000 with a $50,000 homestead exemption, and the millage rate (excluding school taxes for the additional exemption) is 20 mills, what are the property taxes? (Assume entire $50,000 exemption applies for this calculation.)
#98. The Florida ‘Save Our Homes’ assessment limitation caps the annual increase in assessed value of homestead property at:
#99. On the federal level, gain on the sale of a primary residence may be excluded up to ________ for a married couple filing jointly who meet the ownership and use tests.
#100. A property owner who wishes to use their property in a manner not currently permitted by the zoning ordinance may apply for a:
