Florida Real Estate Exam Practice Questions 2022 – COMPLETE SOLUTION. Questions with accurate answers.

Florida Real Estate Exam Practice Questions 2022 – COMPLETE SOLUTION 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. ...

Florida Real Estate Exam Practice Questions 2022 – COMPLETE SOLUTION 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 industryb. 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 salesb. property management c. counseling d. rental agents - ✔✔b. property management which type of construction involves building to a buy's specifications? a. Tract homes b. Spec homes c. Custom homes d. Model homes - ✔✔C. Custom homes The term dedication as it applies to development and construction refers to a. gift of land by the owner to the local government for a public use b. the builder's careful attention to construction details c. recording a subdivision plat map in the public records d. Preparing raw land for site improvements - ✔✔a. Managing which type of property of more than 10 units requires a CAM license? a. apartment building b. commercial property c. business complex d. condominium cpmplex - ✔✔d. A licensed sales associate may operate a. for any registered brokerb. for the broker registered as the sales associate's employer c. independently if registered with the DBPR 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 Floridad. lost a lot of one's own money in a bad real estate investment - ✔✔b. was convicted of fraud in an insurance scam A man has a North Carolina broker's license, but he is not licensed in Florid.a He sells a parcel of land he owns in Florida, Assuming all else is proper, this is legal transaction because a. mutual recognition agreements allow this b. Florida law exempts from licensure individual owners selling their own real property c. Florida has honored his nonresident broker's license d. he has the knowledge and qualifications necessary to handle the transaction - ✔✔b. Florida law exempts from licensure individual owners selling their own real property A woman received her Florida sales associate's license last year. Which requirement must she complete to become a licensed real estate broker? a. successfully complete the 45-hour post-licensing course b. complete 14 hours of continuing education for sales associates c. document at least three closed real estate transactions d. complete at least three years of experience as a sales associate before taking the broker license exam - ✔✔a. successfully complete the 45-hour post-licensing course If the post-licensing requirement is not fulfilled before the first renewal and a sales associate licensee wishes to continue in the real estate business, the licensee a. must retake the state exam within one year b. must requalify for licensure c. is allowed a six-month grace period to meet the requirement but must hold an inactive license during that period d. must retake the pre-license course within one year - ✔✔b. must requalify for licensure Which statement BEST describes who must be licensed to practice real estate in Florida?a. anyone who performs any of the services in real estate 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.