RTest
What is the Maximum fine that can be levied by FREC for any violation of 475 F.S. and 455 F.S.?
$5,000 (Dollars)
A lot measures 1800' x 1936' and sold for $46,000. What was the cost per Acre?
$575 (Dollars) per Acre $575 (Dollars)per Acre: 1800 x 1936 = 3,484,800 sq. ft. Divide by 43,560 = 80 Acres. Divide Total Price by No Acres 46,000/80=575/acre.
How long does someone have to file a complaint with the Department of Housing and Urban Development?
1 year
What is the maximum period a license can be suspended?
10 Years
How many days does a party to a Recommended Order hearing have to file an exception to the Recommended Order?
15 Days
An initial license is issued in October of 2018. When must the license be renewed in order to prevent expiration?
2020-09-30 00:00:00
How many square feet are there in 5 acres?
217800
How long does a prospective tenant have to demand the return of a fee paid for rental information provided by a broker if that information is not current or accurate?
30 Days
How many acres of land are there in the N 1/2 of the S 1/2 of the NE 1/4?
40 Acres
A lot contains 750 square yards and has a length of 150 feet, what does the frontage measure?
45 Feet 750 Sq. Yds = (750x9) 6,750. Area = Length x Width so Width = Area/Length = 6750/150 = 45
How much probation could a sales associate receive for a first offense violation of a rule under Chapter 475 F.S?
90 Days
What is the difference between a Broker Associate and a Broker?
A Broker Associate has passed the Broker exam but chooses to work for a Broker
A Corporation Sole
A Corporation Sole
Which of the following are NOT residential property as defined by Florida law?
A Five Unit Apartment House
What is a newly licensed person working for a broker known as?
A Sales Associate
Which of the following is NOT an Appurtenance?
A Strawberry Pot
What type of agent usually has the Power of Attorney?
A Universal Agent
What is a home built from blueprints supplied by the buyer is called?
A custom home
An appraisal can be completed by which of the following?
A licensed appraiser using USPAP standards
Which of the following does NOT fall under the description of "handicapped" under the Fair Housing Laws?
A person with a cast on their leg using a wheelchair.
Which of the following is a civil rights law designed to prevent discrimination and enable individuals with disabilities to take part in all aspects of society?
ADA
Why is there a high demand for property managers in Florida?
Absentee owners
After passing the Sales Associate exam when does a license become effective?
After written notice is received that the applicant passed the examination
What is not a protected class under the Federal Fair Housing Act?
Age
In the United States ownership of real property is referred to as which of these?
Allodial
What is the person who is empowered to act on behalf of another called?
An Agent
What is an Abstract of Title?
An Instrument that records the history of the property
Which of the following are exempt from real estate licensure?
An attorney acting on his client's behalf
Which of the following is exempt under the Federal Fair Housing Acts of 1968?
An individual selling a personal residence who does not use a broker or discriminatory advertising
One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an?
Appraiser
When should Fingerprints be submitted?
As soon as an application has been submitted to DBPR
A hurricane causes a large portion of a property's waterfront to be washed away and deposited on neighboring land this is referred to as which of the following?
Avulsion
What is a BPO?
Broker Price Opinion
What is the meaning of Caveat Emptor?
Buyer Beware
If a person dies intestate how will his property be passed?
By Descent and Distribution
Which of the following is NOT considered a major real estate licensee sales specialty?
Cemetery Plots
What is the term for mixing business and personal funds?
Commingling
Which Federal Department regulated RESPA?
Consumer Financial Protection Bureau (CFPB)
Which Florida agency investigates real estate complaints?
DBPR
Which Organization approves the Sales Associate and Broker License Applications?
DBPR
What is a Deed NOT required to have?
Date
What is NOT a requirement for a broker's entrance sign?
Date of Licensure of the Broker
Which is NOT true about Florida real estate disclosure laws?
Disclosure paperwork only needs to be kept by a broker for three years.
The Federal Fair Housing Act provides that a prima facie case for discrimination could be established if the broker has failed to do which of the following? .
Display a HUD Equal Opportunity poster.
Which agency is NOT allowed under Florida law?
Dual Agency
Chapter 475, Part I, Florida Statutes, Real Estate License Law is administered and enforced by which of the following?
FREC
Which of the following is incorrect?
Farming only involves raising crops, fish or animals.
What is deemed to be the best form of ownership?
Fee Simple
How many members of the FREC must be active licensed brokers?
Four
How are Trees and Perennial bushes defined?
Fructus Naturales
Which deed provides the greatest protection for the buyer?
General Warranty Deed
If a listing sales associate shows a property to a ready, willing and able buyer what is he NOT permitted to do?
Give the buyer a Consent to Transition to Transaction Broker form and get on with the sale
Which of the following is regarded as unlicensed activity?
Giving an opinion on a Title
What is dedication?
Giving up private land for public use
Who can acquire property through Eminent Domain?
Government Entities
What is the minimum education requirement for an applicant?
High school diploma or equivalent
Which of the following is FREC NOT required to do?
Issue a Florida sales associate's real estate license
What does The Division of Administrative Hearings (DOAH) do?
It provides independent Administrative Law Judges
What are the Laws governing Agency Laws known as?
Law of Agency
What does a subordination agreement do?
Makes the claim of one party junior or inferior to the claim of another party
What would terminate an Easement?
Merging the dominant and servient properties
What type of legal description uses Monuments?
Metes and Bounds
How often does a Broker have to reconcile his trust account(s)?
Monthly
MLS is an acronym for which of the following?
Multiple Listing System
A Licensee from another State may be able to get a FL license without undergoing pre-licensing education through which of the following?
Mutual Recognition
Which area in a two story apartment building, that was completed in 1992 and does not have an elevator, needs to be modified to meet specifications for handicap accessibility according to the Americans with Disabilities Act?
Only the first floor
Real estate includes all of the following EXCEPT?
Personal Property
What are CDD's often regarded as?
Planned Unit Developments (PUDS) with mixed uses
What is the purpose of the Interstate Land Sales Disclosure Act?
Provide Consumer Protection
The Civil Rights Act of 1866 prohibits discrimination in real estate transactions based on a consumer's?
Race
Who can grant or deny a petition for the reinstatement of a license that had been revoked?
Real Estate Commissioner
An organization with at least one real estate broker acting as the agent for others in negotiating the sale or rental of real property for a fee is known as a/an?
Real estate brokerage
What are the three core federal antitrust laws?
Sherman Act, Federal Trade Commission Act and Clayton Act.
What type of lien is a Mechanic's Lien?
Statutory
What is the term for directing minority buyers towards or away from certain areas?
Steering
What is never included as part of the legal description?
Street Address
In what manner does a condominium owner own the common property around her unit?
Tenants in Common
Who issues real estate licenses?
The Department
Which department is mainly responsible for managing the funding and management plan for the restoration of the Everglades?
The Florida Department of Environmental Protection
Which part of the deed confirms the "to have and to hold" nature of the document?
The Habendum Clause
Who does the Mortgagee's title police protect?
The Lender
Who benefits from the Commercial Real Estate Sales Commission Lien Act?
The Listing Broker
Which of the following is not included in The Bundle of Rights?
The Right to Abandon
Which form must be given to the buyer if a sales associate is working with them in a fiduciary capacity?
The Single Agent Notice
What is a POB?
The Starting Point in a metes and bounds description
If a Sales Associate fails to complete their 14-hours of Continuing Education before their license expires March 31, What is the status of their license on April 1?
The license is involuntarily inactive
What happens if a licensee is sued for damages and payment is made from the real estate recovery fund?
The licensee is suspended from real estate practice until the real estate recovery fund has been reimbursed in full
Which of the following is correct?
The pre-licensing education requirement for a Broker is 72 hours
If the Licensed Broker in a partnership is killed in an accident what happens to the Sales Associates working for that partnership?
Their licenses will become involuntarily inactive
What actions can the probable cause panel take?
They can investigate a complaint and if probable cause is found to exist direct the Department to file a formal complaint against the subject they investigated
What is the purpose of Correction Lines?
They compensate for the curvature of the earth
if several brokers form a corporation to sell real estate and want to call their business Broker's Dozen with each broker working with the public what are they required to do?
They must all be active brokers. The Corporation must be registered and the trade name must also be registered
The DBPR has powers of enforcement in how many areas?
Three
What is the purpose of the Department of Business and Professional Regulation?
To act as a Consumer Protection Agency
How many of the Members of FREC are not and never have been Brokers or Sales Associates?
Two
What is Conversion?
Using money from the Escrow or Trust account for the broker's own use
In which circumstance is a summary suspension order given?
When the Department feels that there is an immediate danger to public health, safety and welfare
Fred and Cynthia are considering getting a divorce, they bought their home 10 years ago as Tenants by the Entireties. Can they still own the house together after the divorce?
Yes, but they will own the house as Tenants in Common.
When a broker represents a seller as a single agent on the sale of a home and a buyer wants the same broker to act on his behalf in the purchase of the same home and the broker agrees without any further notice to the seller which of the following is true?
the broker is acting illegally since undisclosed dual agency is not permitted in Florida
An agency relationship is created in which of the following cases?
when the seller asks to be represented and the broker agrees