Florida Real Estate Exam Bundle

Executive Branch of Florida Government (including the DBPR) - Answer Florida Statue Chapter 20 The law is often referred to as the Real Estate Practice Act - Answer Florida Statute Chapter 475 The law that was established for Real Estate Brokers, sales associates, and appraisers - Answer Flori...

Brokerage Fee on closing disclosure - Answer debit seller only; page 2 Accrued depreciation using the age-life method - Answer Never depreciate a land, Sales Price, Appraisal, Survey, Title Insurance, Tangible Tax, Stamp Tax, = Add those, Don't add any Land Value. Only Building. Multiply say 80%...

Owners that buy income properties as investments and depend on professionals to manage them - Answer Absentee Owners a Value estimated based on resent sales of similar properties in the same neighborhood, not an appraisal - Answer CMA -Comparative Market Analysis... A contractor is employed by...

A tax shelter is ? - Answer the excess of cash flow over taxable income. Pooling of funds of several lenders to make a single loan is ? - Answer mortgage participation In a tax deferred exchange "boot' is the ? - Answer taxable unlike property. The ability of a comapany to meet its short ...

Mississippi fuel company is a publicly traded company that purchased is Landon oil rights and grills for oil and gas a member of the Board of Directors is responsible for negotiating the companies oil leases the board member receives an annual an end of the year bonus which statement is true of the ...

A sales associate was asked by an Asian couple to show them homes located in areas where families were also Asian. The couple felt they would be more at home with other Asian families. How should the agent respond? A) Explain why Asian areas are great areas to live in. B) Explain the Fair Housing ...

Who must be licensed to practice real estate in Florida? - Answer Anyone who performs any of the services of real estate for another for compensation unless exempted by law. An applicant has the right to object to any questions they feel were incorrect or improperly written on the state exam with...

Real Estate Services - Answer Any real estate activity involving compensation for performing the service for another. Compensation - Answer Anything of value or a valuable consideration, directly or indirectly paid, promised or expected to be paid or received. Owner-Developer - Answer An unlic...

A Business Broker - Answer Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - Answer Keeping in contact with the new owner after the closing of the sale A builder cons...

Which statement is TRUE concerning radon? - Answer Two homes next door to each other may have very different levels of radon. Hazel's brokerage firm has an annual expense budget of $162,000 that includes her own salary. She wants to make $20,000 profit. If she has seven sales associates, what mu...

The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - Answer D. FREC and the license...

Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 ...

When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate - Answer the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs Which of the follo...

Which statement is true regarding the use of the term REALTOR? All real estate licensees are REALTORS All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REA...