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LET’S PRACTICE!
#1. Which clause in a deed indicates the type of estate being transferred?
#2. What is the main function of a deed?
#3. Which of the following would NOT be classified as real property?
#4. Which deed provides the least protection to the grantee?
#5. A sales associate must complete post-license education within how long?
#6. Which agency enforces the Civil Rights Act of 1968?
#7. What type of value does an insurance company consider when insuring a building?
#8. What is the purpose of the Equal Credit Opportunity Act (ECOA)?
#9. What is the penalty for a licensee who operates with a suspended license?
#10. What is a multiple listing service (MLS)?
#11. A buyer gives a deposit check with an offer. When must it be deposited?
#12. Who is responsible for completing the property condition disclosure in a residential sale?
#13. A real estate license must be renewed by when to avoid becoming involuntarily inactive?
#14. Which of the following is an example of functional obsolescence?
#15. The Florida Real Estate Commission (FREC) is part of which department?
#16. What is the effect of a recorded deed?
#17. How many hours of pre-license education are required for a Florida sales associate license?
#18. What does the term ‘gross lease’ mean?
#19. In which situation is an appraisal usually required?
#20. A property’s value increases due to improved surrounding properties. This is an example of:
#21. A lease where rent increases at intervals is called:
#22. A buyer of a condo has how many days to cancel after signing the contract with the developer?
#23. What is the primary purpose of RESPA?
#24. A real estate license is required for which of the following?
#25. The legal test to determine if an item is a fixture includes:
#26. How many members are on the Florida Real Estate Commission (FREC)?
#27. What is the purpose of earnest money?
#28. What happens if a licensee does not renew on time?
#29. What type of appraisal method is used for special-purpose properties?
#30. Which law created the Florida Real Estate Commission?
#31. What is the purpose of a legal description?
#32. The owner of a condo owns:
#33. Which estate lasts for an indefinite period and includes full ownership?
#34. When a tenant continues occupancy after lease expires without landlord’s permission, it is called:
#35. What is the purpose of a special assessment?
#36. A deed restriction is imposed by:
#37. Which of the following would typically be found in the public records?
#38. Who may legally hold escrow funds in Florida?
#40. In Florida, the homestead exemption applies to:
#41. What does ‘joint tenancy’ imply?
#42. What is a ‘principal’ in real estate?
#43. What is the rescission period for a resale condominium?
#45. A buyer pays cash. Who typically prepares closing documents?
#46. The term ‘abstract of title’ refers to:
#47. A lease longer than one year must be:
#48. Which entity handles license examinations in Florida?
#49. What does a property manager typically NOT do?
#50. Which of the following is personal property?
