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LET’S PRACTICE!
#1. What is the main purpose of a title insurance policy?
#2. A real estate sales associate may be paid only by:
#3. What type of loan is guaranteed by the Department of Veterans Affairs?
#4. Which term refers to a sudden removal of land by an act of nature?
#5. A mortgage that includes personal property along with real property is called a:
#6. In Florida, a real estate licensee is considered an expert in which area?
#7. What must happen for a deed to be valid in Florida?
#8. Which item is NOT typically prorated at closing?
#9. The sales comparison approach is most useful for:
#10. What is an executory contract?
#11. Which term means to substitute a new party in a contract?
#12. How long must brokers retain documents related to escrow disputes?
#13. What is the term for dividing financial responsibility at closing?
#14. What does the term ‘lien’ mean?
#15. Which action is considered fraud in real estate?
#16. Who typically prepares the deed in a real estate transaction?
#17. Which term describes the right to use water from a river on adjacent land?
#18. A township contains how many square miles?
#19. Which entity investigates real estate complaints in Florida?
#20. What happens if a sales associate’s license becomes involuntarily inactive for more than 2 years?
#21. What is the maximum number of days to notify FREC of conflicting escrow demands?
#22. How is a cooperative different from a condominium?
#23. What does a seisin clause in a deed state?
#24. Which tax is charged on the deed when transferring real estate in Florida?
#25. A real estate licensee may be denied a license for:
#26. What is an estoppel certificate?
#27. Which of the following is an economic characteristic of land?
#28. A sublease is created when:
#29. Which clause requires a borrower to pay off the loan upon sale?
#30. What is a deed in lieu of foreclosure?
#31. A homestead exemption in Florida protects against:
#32. What is a tenancy at will?
#33. What does the FHA do?
#34. What does a licensee need to sell timeshares in Florida?
#35. The legal document that creates a condominium is the:
#36. Who issues real estate licenses in Florida?
#37. How many acres are in a section?
#38. The right of survivorship is found in:
#39. Which agency is responsible for enforcing federal fair housing laws?
#40. What happens if an applicant provides false information on a license application?
#41. What is a net listing?
#42. In appraisal, the principle of substitution means:
#43. What are littoral rights?
#44. What is the purpose of RESPA?
#45. What type of depreciation is caused by outside factors?
#46. What is a transaction broker?
#47. How many hours are required for continuing education in Florida every two years?
#48. Which of the following would terminate an offer?
#49. What is the maximum amount of time a license can remain involuntarily inactive before becoming void?
#50. What is the effect of a contract signed under duress?
