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Florida Real Estate Exam Practice Questions 2022
Which statement is true regarding the use of the term REALTOR? A. All real estate licensees are realtors B. All realtors are members of the NAR C. The term real estate licensee and realtor may be used interchangeably D. The Florida DBPR authorizes the use of the term realtor - b. The term "follow-up" refers to a. returning calls in a timely manner. b. completing instructions given by one's broker. c. following through on listing calls made to for sale by owners. d. what a sales associate does for buyers and sellers after the sale. - d. Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real property for compensation concerning a non-federally related transaction a. as long as she does not represent herself as a state-certified or licensed appraiser and complies with the USPAP b. only if the appraisal is called a comparative market analysis c. provided the compensation is based on a commission agreed on before the appraisal work is done d. provided a license or certified appraiser signs the appraisal report. - a. The field of property management has experienced growth and specialization primarily because of a. the deregulation of the real estate industry b. the increase in the number of licensees specializing in property management
c. the increase in the number of absentee owners d. higher construction costs that have caused an increase in the number of renters. - c. Real estate licensees must comply with the USPAP when conducting which value estimates? a. appraisals b. broker price opinions c. comparative market analysis d. real estate licensees are exempt from the provisions of USPAP - a Appraisers are paid a fee because a. to accept compensation based on the appraised value is a conflict of interest b. custom dictates the method of compensation c. the fee would be too high if it were based on a percentage of property value d. only brokers and sales associates are paid commissions for their services - a The five major sales specialties do NOT include a. agricultural b. special use c. commercial d. business - b. special use The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of property for others is called a. commercial sales b. property management
d. as a broker associate - b. A sales associate applicant is NOT required to comply with which requirement? a. submit an application fee b. be 18 years of age or older c. be a bona fide Florida resident d. Possess a SSN - c. Which person does NOT meet the experience requirements to obtain a Florida broker's license? a. an applicant who has held an active California broker's license for the preceding three years b. an applicant who has held an active Ohio sales associate license during four of the preceding fine years while employed by an Ohio broker c. an applicant who has held an active Florida sales associate license for the preceding two years while employed by a Florida broker d. an applicant who has held an active Florida sales associate license during two of the preceding five years while employed by an owner-broker. - d. What information appears on the face of a real estate license? a. Governor's signature b. Secretary of the DBPR's signature c. License number d. Licensee's email address - c. A sales associate applicant is NOT required to disclose which information on the license application? a. convicted of a crime b. proof of U.S. citizenship
c. maiden name, if applicable d. a finding of guild in conduct that would have resulted in disciplinary action if the applicant had been licensed to practice real estate - b. A real estate licensee works on a commission basis for two separate brokerage companies. Which statement is TRUE? a. sales associates may have only one registered employer at any given time b. the sales associate mat work for both companies as long as the associate is registered under both employers c. this is legal as long as the associate only works part-time for each company d. the sales associate must be registered as a broker associate for this to be legal - a. sales associates may have only one registered employer at any given time What is the latin term for no contest? - nolo contendere The DBPR is required by law to waive which fee for qualified low-income license applicants? a. application fee b. initial license fee c. unlicensed activity fee d. exam fee - b. initial license fee Which event may cause the FREC to refuse to certify an individual as qualified for licensure? a. dropped out of high school and later earned a GED b. was convicted of fraud in an insurance scam c. changed residency to a state other than Florida d. lost a lot of one's own money in a bad real estate investment - b. was convicted of fraud in an insurance scam
b. anyone who performs any of the services of real estate for another c. anyone who performs any of the services of real estate for another for compensation d. anyone who performs any of the services of real estate for another for compensation, unless specifically expected by law. - d. anyone who performs any of the services of real estate for another for compensation, unless specifically expected by law. Which individual is NOT exempt from licensure under F.S. 475 a. A salaried employee of a governmental agency who performs real estate services for the state and does not receive commission b. individual dealing in the personal property only c. individual serving as a personal representative and acting within the statutory limits of that designated role d. an employee of a real estate developer who receives a salary plus bonuses based on sales quotas. - d. an employee of a real estate developer who receives a salary plus bonuses based on sales quotas. A salaries individual manages a condominium building and rents units for three-month to six-month periods. The manager a. must be licensed under F.S. 475 because leasing is one of the real estate services b. must be licensed under F.S. 475 because she rents condominium units for compensation c. must be licensed by the division of condominiums and timeshare sales d. is exempt from licensure under F.S. 475 - d. is exempt from licensure under F.S. 475 A developer purchased a tract of land and subdivided the property into individual lots. The developer hired his son, who was not licensed to sell the lots. The father agreed to pay with his son a salary of $200 per week. After two weeks, the son had sold only two lots, so the father decided to add an incentive. The father promised his son that after every fifth lot was sold, he would give his son a lot free and clear. After one more week, the son quit his job to go work for another developer who paid a higher weekly salary. Which statement applies to this arrangement? a. There is no violation of F.S. 475 b. The son alone has violated F.S. 475
c. Only father has violated F.S. 475 d. Both the father and the son have violated F.S. 475 - d. Both the father and the son have violated F.S. 475 The following statements are true with respect to the members of the FREC except that they a. are a mix of real estate practitioners and consumer members b. are accountable to the governor for proper performance c. are DBPR employees d. depend on the DRE for their administrative assistance - c. are DBPR employees Members of the FREC are appointed by the a. governor and confirmed by the DBPR secretary b. governor and confirmed by the secretary of state c. DBPR secretary and confirmed by the governor d. governor and confirmed by the state senate - d. governor and confirmed by the state senate Which duty is an exercise of the FREC's quasi-legislative power? A. Adopt a seal B. Make determinations of violations C. Promulgate rules D. Grant or deny applications for licensure - C. Promulgate rules Real estate licensees on active duty with the U.S. Army are required to renew their licenses
a. make determinations of violations b. impose administrative fines c. levy fines and imprisonment as penalties for certain crimes d. adopt an official seal that, when used on a document, certificate, proceeding, or act of the Commission, is prima facie evidence of its authenticity in all matters of law in this state - c. levy fines and imprisonment as penalties for certain crimes Specific responsibilities of the FREC do NOT include a. determining the amount of licensing fees needed to operate the Commission. b. reporting criminal violations to the state's attorney c. informing the Division of Florida Condominiums, Timeshares, and Mobile Homes of disciplinary action against any of its licensees. d. providing the services necessary for the preparation and administration of licensing examinations. - d. providing the services necessary for the preparation and administration of licensing examinations. Which power is NOT granted to the DBPR under Florida Statue 455 a. issue citations b. investigate consumer complaints c. appoint FREC members d. issue subpoenas - c. appoint FREC members Which statement regarding the DBPR is TRUE? a. The DBPR secretary is appointed by the Commission b. The DBPR is under the executive branch of the state government c. The main DBPR office is located in Orlando
d. The DBPR does not have the legal authority to issue citations - b. The DBPR is under the executive branch of the state government FREC may reinstate a null and void license when a. it is determined that the licensee failed to comply with the statue because of physical hardship or economic hardship. b. the licensee timely pays the renewal fee and completes the education requirement the next day after the license is null and void. c. the licensee timely completes the education but fails to pay the renewal fee prior to the license becoming null and void due to a busy work schedule. d. the licensee apologizes for the oversight and promises to timely renew in the future. - a. it is determined that the licensee failed to comply with the statue because of physical hardship or economic hardship. How many members of the FREC may hold a current active sales associate license? a. one b. two c. four d. five - a. one If an active licensee fails to renew her third two year license before the expiration date on the license, the license will a. revert automatically to involuntary inactive status at the end of the license period. b. be suspended automatically. c. be canceled, and the licensee will have to retake both the course and the licensing exams. d. be canceled, and the licensee will have to retake the licensing exam only. - a. revert automatically to involuntary inactive status at the end of the license period. Who may NOT reactivate a license to active status?
d. unlicensed owner-developers are issued multiple licenses if they own more than one real estate development. - b. a broker who qualifies as the broker for more than one brokerage company holds multiple licenses. A broker decides to relocate her real estate brokerage office. She notifies the DBPR of the change in business address. She also informs the DBPR of the names of two sales associates who are no longer associated with her brokerage. The sales associates' licenses will be a. suspended until they find new employment b. canceled c. null and void d. placed on inactive status - d. placed on inactive status A real estate brokerage company has entered into a single agent buyer broker relationship with the buyer. In order to show this buyer property that is listed with the same brokerage company for which it is a single agent, in what brokerage capacity may the company work with this buyer and seller? a. Single agent for the seller and transaction broker for the buyer. b. Single agent for the seller ann single agent for the buyer c. any relationship that is agreed to by both the buyer and the seller.n d. Both the seller and the buyer must transition to a transaction broker relationship before the buyer can be shown the seller's property. -? Chapter four questions Which group of legal instruments may legally be prepared by a licensed real estate broker? a. Listing contracts, buyer broker agreements, commercial leases, and deeds b. Leases, option contracts, promissory notes, and buyer brokerage agreements c. Listing agreements, buyer brokerage agreements, sale contracts, and options contracts d. Mortgages, promissory notes, commercial leases, and option contracts - c. Listing agreements, buyer brokerage agreements, sale contracts, and option contracts Failure to comply with the statue of frauds
a. may not constitute an illegal act but would always invalidate a sale contract. b. would have to do with whether a contract is in writing c. concerns adherence to prescribed time frames of enforcement d. is prima facie evidence of the intent to commit fraud - b. would have to do with whether a contract is in writing. Which contract does NOT come under the jurisdiction of the statue of frauds? a. Lease agreements for one year or less b. Option contract c. sale contract d. listing agreement for more than one year - a. lease agreements for one year or less A valid real estate sale contract a. contains all the essential elements and is in writing. b. has been acknowledged. c. required witnessing d. transfers title to real property - a, contains all the essential elements and is in writing. An adult contracting with a minor is an example of a failure to meet which essentials of a real estate contract? a. legality of the object b. offer and acceptance c. meeting of the minds d. competent parties. - d. competent parties
d. The offeror and the offeree remain the same even though the terms are modified. - d. The offeror and the offeree remain the same even though the terms are modified. An offer is NOT terminated by a. a counteroffer b. an acceptance c. a rejection d. an extension - d. an extension
