Real Estate Questions

A sales associate has been instructed by his broker to call on residents of a certain neighborhood, telling them that Latinos are beginning to move into the neighborhood and that they should sell their houses as soon as possible because their values will decrease. This is an example of redlining. blockbusting. steering. a violation of the ADA.

blockbusting.

In the real estate industry, property management has become more popular because of: a lower demand for commercial properties. a higher demand for rentals. the increase in absentee owners. higher regulations on real estate transactions

the increase in absentee owners.

The product that all real estate professionals sell is: financial options their expert knowledge licensed appraisals industrial property

their expert knowledge

Which area of real estate requires the highest degree of expertise? Appraising Counseling CMA reports Commercial building sites

Counseling

When using the Government Survey System, the initial primary north-south reference line is called the: principal meridian. check line. central meridian. base line.

principal meridian.

When the Johnsons purchased their home, they purchased and installed new kitchen counters and cabinets. Until they were installed, these were personal property. Once installed, they became a: courtesy. chattel. fixture. marker.

fixture.

The following statements appeared in real estate advertising. Which one is NOT legal and proper? "This property is offered by Smith Realty, George W Smith, Broker". "This property is the broker's own residence, being offered by Smith Realty, George W Smith, Broker-owner". "This property is offered by Smith Realty, George W Smith, Broker and member of the Real Estate Educator's Association." "This property is offered by Marry Brown, sales associate for a licensed broker."

"This property is offered by Marry Brown, sales associate for a licensed broker."

John owned the N 1/2 of a section. He sold the W 1/4 of his N 1/2. How many acres does John still own?: 320 acres 300 acres 240 acres 160 acres

240 acres

There are _____ sections in a township. 18 12 30 36

36

The Florida Administrative code that expands on the provisions of F. S. Chapter 475 is the 61G2 61G5 61J2 61N

61J2

The legal description most often used in a platted subdivision is: government survey. lot and block. developer coding. metes and bounds.

lot and block.

A property manager generally does all of these except: renting the property. supervising its maintenance. collecting rents. representation of the tenant.

representation of the tenant

A principal owns lots in an upscale subdivision. He has directed a licensee not to show the lots to people of a particular sex, race, or religion. What should the licensee, do? comply, since he is required to abide by his principal's directions ignore his principal's directions and continue showing to all persons coming to him withdraw and refuse to deal with the owner contact his attorney for legal guidance

withdraw and refuse to deal with the owner

When a sales associate is authorized to negotiate a property sale, he or she has the authority to: change the price or terms of a listed property without the principal's knowledge and consent. bind his broker's principal to a real estate contract. work under the direction of a broker or in some cases an owner-developer. change the legal instructions of his broker's principal.

work under the direction of a broker or in some cases an owner-developer.

A landlord inspects his rental property after the tenant moves out. He finds damage that is beyond normal wear and tear and decides to deduct some money from the security deposit to cover the damage. The tenant has _______ days to object in writing to the deduction. 60 30 15 7

15

How many business days does a broker have to notify the FREC, in writing, of conflicting demands or of a good faith doubt?: 3 days 7 days 15 days 30 days

15 days

When using the government survey method for legal descriptions of property, how many acres does a quarter of a section contain?: 160 40 640 80

160

The Florida Statutes that define the general legal practice and procedure for the Department of Business and Professional Regulation (DBPR) and the licensees of all professions, including real estate, are Chapter 475 and Chapter: 718. 455. 20. 120.

455

Which is NOT an accessibility requirement in a condominium community per the Americans With Disabilities Act? There is an accessible, barrier-free route of travel throughout the community. There must be wheelchair-accessible restrooms in the clubhouse. Residents may install ramps to access their units. A unit owner has a German Shepherd service dog, even though the community has a "no pets over 20 pounds" policy.

A unit owner has a German Shepherd service dog, even though the community has a "no pets over 20 pounds" policy.

What is the final legal act in an eviction procedure? The landlord files a complaint for eviction with the county. The tenants defend their right to remain on the property. After the tenants are served a writ of possession, the landlord begins to remove their personal property from the rental unit. The landlord serves a notice to the tenants giving them 3 days to move out due to non-payment of rent.

After the tenants are served a writ of possession, the landlord begins to remove their personal property from the rental unit.

Which Florida Statute gives the Florida Real Estate Commission the authority to discipline Florida-licensed real estate professionals?: Chapter 20 Chapter 83 Chapter 120 Chapter 455

Chapter 455

Savannah is working for Broker Brown, but she also wants to sign on with Broker Jones. She can only work with one of the brokers because: an employee should devote at least 40 hours per week to his employer in order to earn his salary. the Florida Real Estate Commission could not keep track of where the sales associate or broker associate is working if he had more than one employer. Chapter 475, F S mandates only one registered employer for a sales associate or broker associate. the Federal Trade Commission Rule 27-S forbids a sales associate or broker associate from having more than one employer.

Chapter 475, F S mandates only one registered employer for a sales associate or broker associate.

All of the following are possible deed restrictions in a subdivision. Which would be the most difficult for the developer to enforce?: Each lot must be limited to 73 by 175-feet. The height of any single building or improvement may not exceed 25 feet. All homes will contain a minimum of 1,500 square feet of living space. Each owner must make $500 worth of improvements per lot, per year.

Each owner must make $500 worth of improvements per lot, per year.

A real property line that runs from a given point North 90 degrees East will run in a direction of: East-to-West South-by-Southeast North-to-South North-by-Northwest

East-to-West

The legal rights and responsibilities of real estate licensees are established by what law?: Florida Statute Chapter 455 Florida Statute Chapter 475 Florida Administrative Code 61J2 Florida Statute Chapter 574

Florida Statute Chapter 475

Ann Smith, a broker working for customer Lucille Carter, finds a renter for a home owned by Banks and collects a security deposit of $1,300 and advanced rent of $1,300. What must the broker do with the money? Put it in an account that bears at least 5% interest. Note it in her accounts, showing a $2,600 credit to the renter. Deposit it in her escrow account. Give the money to Carter, who must deposit it in an escrow account or surety bond.

Give the money to Carter, who must deposit it in an escrow account or surety bond.

Raising the professional and ethical standards of real estate licensees is one goal of the: Florida Real Estate Commission. National Association of Agents. National Association of Realtors. Florida Bar Association.

National Association of Realtors.

On July 1, Abrams lists his home on a 90-day exclusive contract with Broker Baker. On July 30, Abrams's Chapter 7 bankruptcy claim is approved. On August 6, the broker found a ready, willing, and able purchaser for Abrams's home. Can the broker claim a commission from Abrams?: Yes, even if the bankruptcy court denies it. Yes, because there was executory contract. No, because the executory contract was terminated before the buyer was procured. No, because Broker Baker is not a preferred creditor.

No, because the executory contract was terminated before the buyer was procured.

An owner of a unit at a 20-unit condominium complex informs the salaried manager that he will be out of the country for six months and would like a friend to rent the apartment while he is gone. The manager agrees to the six-month rental. Does he need a real estate license? Yes, because the condominium complex contains more than ten units. Yes, because the rental period the Manager had arranged was for more than one month. No because the complex consists of condominiums and not cooperative apartments. No, because the rental period arranged was for not more than one year.

No, because the rental period arranged was for not more than one year.

The Division of Real Estate exists primarily to: Approve or deny license applications. Provide administrative support to the FREC. Discipline licensees who are in violation of regulations. Approve licensure courses.

Provide administrative support to the FREC.

Which three types of Special Purpose deeds may be used to convey property when the property owner is unable to sign the deed?: Quitclaim, General Warranty, or Special Warranty General Warranty, Special Warranty, or Personal Representative Personal Representative, Guardian's, or Committee's Bargain of Sale, Special Warranty, or Personal Representative

Personal Representative, Guardian's, or Committee's

Mr. Denton died intestate, and there are no known heirs. The probate court appointed an individual to settle Mr. Denton's affairs. When this individual sold Mr. Denton's home, what type of deed was used to formalize and record the transfer of title?: Guardian's deed Personal representative's deed Quitclaim deed Committee's deed

Personal representative's deed

In a metes and bounds legal description, the direction "N 10 degrees E." would be exactly opposite from the direction: N 80 degrees W S 80 degrees W S10 degrees W N 10 degrees W

S10 degrees W

Which is NOT a potential reason the FREC would deny an application for licensure or renewal of a license? The applicant has been found guilty of dishonest dealing. The applicant has been guilty of breach of trust. The applicant is not a US citizen. The applicant has been guilty of misrepresentation.

The applicant is not a US citizen.

A broker listed a land for $90,000. Jim verbally offered $88,000. Another buyer who knew about Jim's offer made an offer of $93,000. The broker drew up a written contract for $93,000 but did not inform the owner about the offer for $88,000. Which is correct?: The broker properly submitted only the higher offer. The broker should have presented both offers to owner. The owner must accept any offer that meets or exceeds the listing price. The broker has the right to decide which offer to present to the owner.

The broker should have presented both offers to owner.

Which is NOT true of the Real Estate Recovery Fund? The fund acts as insurance for real estate licensees who are sued. It reimburses individuals, partnerships, or corporations that have filed suit against a broker or sales associate and won a monetary judgment in civil court. Monetary damages must be paid from the broker's or sales associate's personal assets first. The fund reimburses a broker who followed a FREC order for a disbursement of escrow but is later sued by one of the parties.

The fund acts as insurance for real estate licensees who are sued.

Which statement is NOT true about the disciplinary authority of the Florida Real Estate Commission (FREC)?: FREC may revoke an individual's license. The maximum administrative fine the FREC may impose for each separate count is $1,000. FREC may deny an application for licensure or renewal. The maximum period the FREC may suspend a license is ten years.

The maximum administrative fine the FREC may impose for each separate count is $1,000.

A prospective renter engaged the services of a broker on June 1 to help her find a suitable rental. The broker gave her a current, accurate list of rentals that were available, charging her $200. The renter was not able to find a rental property from the list. To what refund, if any, is she entitled? The renter can receive $100, if she notifies the broker by the end of June The renter is entitled to $200, if she notifies the broker by June 15 The renter's refund is $150, if she makes demand for the return of the fee before June 30 The renter is not entitled to any refund, as the broker has fulfilled his duty to his principal by assuring that the list was current and accurate

The renter's refund is $150, if she makes demand for the return of the fee before June 30

Of the following statements, which one is TRUE about kickbacks or rebates?: They are always illegal if disclosed to the principal. All money that the licensee receives while acting in a professional capacity is likely to be considered a kickback or rebate. They are legal only when paid by sellers. They are legal if all affected parties to the transaction are aware of such an arrangement prior to the time of the placement of said transaction.

They are legal if all affected parties to the transaction are aware of such an arrangement prior to the time of the placement of said transaction.

Which must the developer of an unimproved subdivision provide to the prospective buyer? reviews by previous satisfied buyers the location of water and sewer lines title insurance a detailed property report

a detailed property report

Everything that is permanently attached or connected to land is: an attachment. a fixture. an encumbrance. personal property.

a fixture.

Which statement best describes a group license?: a license held by a group of brokers separate licenses held by a broker for different businesses a right granted to a sales associate or broker associate to work various properties owned by one owner/developer One license held by a group of sales associates that allows them to work at various properties owned by one owner/developer

a right granted to a sales associate or broker associate to work various properties owned by one owner/developer

When a broker is employed by a buyer-broker agreement, the broker may be: a transaction broker, single agent or a nonrepresentative. an illegal act in Florida. a dual, single agent for buyer and seller. a violation of FREC rule 61J2.

a transaction broker, single agent or a nonrepresentative.

While a buyer is a broker's principal. Legally, the sales associates who work for the broker are: partially assuming fiduciary duties to the buyer. assuming the agency obligations to the seller. also bound by the broker's agency obligations. performing all fiduciary duties to both buyer and seller.

also bound by the broker's agency obligations.

Once sales associates have completed their required post-licensing education, they must subsequently complete during every 2-year license period only 3 hours of law and legal updates. at least 14 hours of continuing education for active licensees, only. at least 14 hours of continuing education for active and inactive licensees. 14 hours of law and legale updates.

at least 14 hours of continuing education for active and inactive licensees.

By issuance of a Final Order, a broker's license was revoked by the Florida Real Estate Commission. The licenses of the sales associates working under the broker are: not affected by the broker's revocation. automatically void. automatically placed on involuntary inactive status. subject to suspension after a hearing.

automatically placed on involuntary inactive status.

If a new sales associate fails to complete the post-licensing education requirement within the allotted time frame, the initial license will: become null and void. become inactive. have a penalty of not less than $1,000. not have any change in status.

become null and void.

The property tax disclosure summary must be presented to prospective buyers of residential Florida property: before or at the time broker shows the property to buyer. at the closing table. within 15 days after the execution of the contract for sale. before or at the time of execution of the contract for sale.

before or at the time of execution of the contract for sale.

In Florida, if a homestead is in only one spouse's name, or if it is co-owned by a married couple, then: only one of the spouses needs to sign the real estate sales contract. either one of the spouses may sign the real estate sales contract. both spouses must sign the real estate sales contract. only the spouse whose name is on the deed must sign the real estate sales contract.

both spouses must sign the real estate sales contract.

Over which type of escrow account does the FREC have jurisdiction?: broker escrow accounts title company escrow accounts attorney escrow accounts seller held escrow accounts

broker escrow accounts

A broker or sales associate would be committing fraud if he or she knowingly sold a property: that is subject to a blanket encumbrance, even if the encumbrance has a legal partial release clause. with a guaranteed repurchase agreement, even if the agreement is approved by other Florida state-regulatory agencies. by using a lottery, even if the property is actually conveyed in accordance with the lottery rules. with a marketable title.

by using a lottery, even if the property is actually conveyed in accordance with the lottery rules.

A seller has her property listed for $85,000 but tells the broker she is desperate to sell and will take as little as $74,500. She even mentions this while the broker is showing the house to a prospective buyer. The broker: cannot legally mention the $74,500 price. should encourage the prospective buyer to offer $74,500 so the house will sell faster. should encourage the prospective buyer to offer a figure just above $74,500. can legally represent the price of the property at less than $74,500.

cannot legally mention the $74,500 price.

A broker has not had much luck selling a particular property, so he decides to change his advertising in such a way that is misleading in form and content. The broker would have his license revoked. could have his application denied, with prejudice. could receive an administrative fine. would face suspension of his license for a minimum of three years.

could receive an administrative fine.

A beneficial interest in real estate which implies that at a future date an individual will receive legal title is known as: color of title. constructive notice. abstract of title. equitable title.

equitable title.

An electric utility company has a right to maintain their poles, lines and other equipment along the rear of a property. This right is called an: easement by necessity. easement by prescription. easement appurtenant. easement in gross.

easement in gross.

Which best describes the members of the Florida Real Estate Commission? eight members who serve two-year staggered terms: four licensed brokers with five years experience ; one broker or sales associate with two years experience ; and two consumers who have never been involved in the real estate profession a chairperson, vice-chairperson, secretary, and treasurer one representative each from single-family homes, condominiums, timeshares, mobile homes, industrial properties, commercial properties, and business opportunities

four licensed brokers with five years experience ; one broker or sales associate with two years experience ; and two consumers who have never been involved in the real estate profession

Jamie works as an unlicensed personal assistant for Sunshine Realty. Which task is she allowed by law to do? gather information for a comparative market analysis show property when you are out of town call one of your buyers and discuss an offer list a property when you are busy on another appointment

gather information for a comparative market analysis

Which activity may an unlicensed personal representative at an open house legally perform?

hand out materials

SAFL116*2 - Section: (4) RELATIONSHIPS, DUTIES AND DISCLOSURE A broker listed a house and is the single agent of the seller. A prospective buyer wants to view the home and wants the broker to represent him too. The broker must: disclose in writing to a buyer that the licensee is an agent of seller. have the seller sign a Transition to Transaction Broker form before showing the house to the buyer. deliver a copy of the Agency Disclosure Form to the seller. get the informed, written consent of all parties prior to becoming a dual agent.

have the seller sign a Transition to Transaction Broker form before showing the house to the buyer.

The best descriptive phrase associated with property held by tenancy in common is: having an undivided interest. having a right to survivorship. a lease for years. a lease.

having an undivided interest.

Aaron has remodeled an older home and decides to rent it out. He receives the first month's rent and a security deposit. There are three ways he can handle the security deposit. Which is NOT one of them? post a surety bond with the clerk of the circuit court in the county in which the rental property is located hold the money in a separate non-interest-bearing Florida Bank account and not commingle funds until due to the tenant hold the money in a separate interest-bearing Florida Bank, and pay the tenant at 75% of any annualized average interest rate or 5% per year simple interest hold the money in any bank, credit union or savings and loans institution located in any of the 50 states and may not commingle

hold the money in any bank, credit union or savings and loans institution located in any of the 50 states and may not commingle

A broker receives an earnest money deposit on a home sale. The broker must deposit the funds within how many days of receiving them?: 10 business days immediately, within three business days 5 business days 15 business days

immediately, within three business days

When must the No Brokerage Relationship notice be presented?: in writing before getting signatures on contracts in writing before the showing of property at any time before closing of transaction at no time since, it is presumed by law

in writing before the showing of property

Karen's sales specialty involves the knowledge of regulated land use, environmental considerations, transportation, labor costs and utility charges. Her field of specialty is: industrial. agriculture. commercial. residential.

industrial.

Before Esther died, she named her friend Linda as her personal representative in her will. To participate in the sale of a real estate property owned by Esther, Linda must hold a sales associate's license. must contract with a licensed broker. must hold a broker's license. is not required to hold a real estate license.

is not required to hold a real estate license.

USA Bank contacted Aubrey, a sales associate with Blue Skies Realty, to do a Broker Price Opinion (BPO). The fee for the BPO was small so the bank paid Aubrey directly. This is: illegal, since sales associate violated Chapter 475, F.S. perfectly legal per Chapter 475, F.S. allowed under Chapter 475, F.S. because BPO's are paid by a set dollar amount rather than commission. illegal, since broker of ABC Realty has violated Chapter 475, F.S.

llegal, since sales associate violated Chapter 475, F.S.

If a homeowner has a rectangular parcel of land measuring 620 feet x 900 feet, he will have: exactly 14 acres. more than 14 acres. less than 12 acres. more than 12 acres.

more than 12 acres.

Two of the seven members of the Florida Real Estate Commission must be: never licensed as real estate sales associates or brokers. licensed for at least seven years. licensed as attorneys. aged 60 years or older.

never licensed as real estate sales associates or brokers.

You hold a valid, current and active sales associate's license. One of your best clients has purchased three houses in the past year totaling almost $1 million in sales. He calls you from Atlanta saying he has someone interested in purchasing a house you have listed for $500,000. He also mentions that he has had to spend a considerable amount of money entertaining the buyer and convincing him to drive down to look at the property. You may: not legally compensate him for the entertainment expense. compensate him for his expenses, because he is not subject to comply with Florida's Real Estate Licensure Law. give him reasonable compensation, provided you send it to him through a bank outside of Florida. compensate him with a gift of equal value, but not with monetary compensation.

not legally compensate him for the entertainment expense.

The earnest money (binder) deposit in a Florida real estate contract is: not required until after the contract has been performed and is closed. not required to make the contract valid. required to make the contract valid. required within 10 days on the date of the contract.

not required to make the contract valid.

A broker lists a property that she knows would be perfect for cousin. The property is being sold due to the death of the owner. The succession is willing to accept a much lower offer than the property's listed price. About making an offer, the broker should tell her cousin: that the succession will consider a much lower offer than the listed price. that the succession is very motivated to sell quickly. to make an offer equal to the listed price. nothing, and present to the succession any offer that her cousin wishes to make.

nothing, and present to the succession any offer that her cousin wishes to make.

The metes and bounds method requires benchmark. tier. point of beginning. range.

point of beginning.

A transaction broker is best described as the concept of all fiduciary duties apply. one who provides limited representation in a brokerage transaction between buyer and seller. trust and confidence apply. broker represents both the buyer and seller with full fiduciary duties.

one who provides limited representation in a brokerage transaction between buyer and seller.

Doug, a real estate broker, is convinced that a rule or guideline that significantly affects him is not valid and should be changed. He can seek recourse by: contacting his state legislative delegation, only. writing his local Board of County Commissioners to speak at a meeting of his concerns. petitioning for an administrative determination before the Florida Real Estate Commission. informing the National Realtor's Association and hoping someone changes the rule soon.

petitioning for an administrative determination before the Florida Real Estate Commission.

A broker finds a buyer for a house she has listed. The offer includes an earnest money deposit and states that the offer is valid for three days. The owner does not respond to the offer, so after 24 hours the buyer cancels the offer and asks for his deposit to be returned. The broker should: place the funds in the hands of the Florida Real Estate Commission. keep ½ and give the remaining ½ to the owner. keep ¼ and give the remaining ¾ to the owner. return all the funds to the buyer.

place the funds in the hands of the Florida Real Estate Commission.

Of the liens listed below, which is the superior lien that takes priority over the others?: property tax lien dated January 1, 2020. judgment lien dated July 10, 2020. mechanic's lien dated September 6, 2018. vendor's lien dated November 6, 2019

property tax lien dated January 1, 2020.

Which of the items below is not required to be included in a valid metes and bounds legal description? a valid, definite starting point. the proper distances between corners of the property. the correct directions represented by the corners of the property. reference to a conspicuous monument, such as a tree or rock.

reference to a conspicuous monument, such as a tree or rock.

A sales associate has knowledge that her broker frequently commits unlawful acts as it pertains to real estate. If the broker instructs the sales associate to participate in an unlawful real estate act, the sales associate must refuse to carry the instructions, then request a change of employment. carry out the instructions, then report the broker to the Department of Business and Professional Regulation. refuse to carry out the instructions, and then report the broker to the Department of Business and Professional Regulation. carry out the instructions, then request a change of employment.

refuse to carry out the instructions, and then report the broker to the Department of Business and Professional Regulation.

In real estate law, the Statute of Frauds is a reference to the adequacy of terms. conduct of dishonest, fraudulent business deals and related legal remedies. legality of the object of the contract. requirement that to be enforceable, contracts must be in writing or penalty performed.

requirement that to be enforceable, contracts must be in writing or penalty performed.

Tom's clients and customers appreciate his expertise in explaining property taxes and the homestead exemption, as well as helping them find financing. Tom is a(n): residential specialist. industrial specialist. commercial specialist. agricultural specialist.

residential specialist.

Attendance by a licensee at one legal agenda session for the FREC may be substituted for three hours of continuing education credit. six hours of continuing education credit. fourteen hours of continuing education credit. four hours of continuing education credit.

three hours of continuing education credit.

Failure to complete the post-licensing required education prior to the renewal deadline will cause the license to become void. A sales associates may re-qualify by: paying a fine of $250 and passing the state licensing examination again. waiting 30 days and retaking the post-licensing course. retaking the pre-license course, passing the end-of-course exam, and passing the state examination.

retaking the pre-license course, passing the end-of-course exam, and passing the state examination.

Which of the following is the term for a landowner's rights to use water that flows past his or her property as long as the landowner does not divert or pollute the water or impair its use by others?: riparian rights reduction rights accretion rights littoral rights

riparian rights

The Homeowners' Association Disclosure Summary required by Chapter 720 must be supplied by the: seller's broker. State of Florida. developer or by the current owner. county where the property is located.

seller's broker.

John owned real property prior to his marriage to Sofia. This property is presumed to be: community property separate property personal property tenancy-in-common

separate property

A Notice of Non-compliance: must be followed by a thorough investigation by the FREC. shall only be issued for an initial offense of a minor violation. involves a fine of up to $5,000 per offense. involves a fine of up to $10,000 per offense.

shall only be issued for an initial offense of a minor violation.

When determining whether an object is a fixture, the legal tests do NOT include: size of the item. method of attachment. adaptation of the item. intent of the parties.

size of the item.

A lawsuit in which a plaintiff seeks to have the court force the other party to perform according to a contract is called a suit for: exemplary performance. specific performance. liquidating damages. compensatory damages.

specific performance.

A licensed broker was found guilty of culpable negligence in a real estate sale. The broker made full restitution to the affected party. The Florida Real Estate Commission may: suspend the individual's license. require the return of any paid commission. take no disciplinary action against the licensee. impose a fine not to exceed $10,000.

suspend the individual's license.

Mr. Allman, a real estate licensee, served a term in prison for a crime not related to his real estate brokerage. Mr. Allman's license may be: suspended or revoked. voided until continuing education is completed. kept active until next renewal date. subject to an administrative not to exceed $15,000.

suspended or revoked.

Janelle just passed the exam for the real estate sales associate's license, but after working for three months under a broker, she finds she is too busy with family obligations to devote enough time to the job and resigns. The best way for Janelle to retain her license in voluntarily inactive status, is to: take the post-licensure course before her first renewal, then take the CE courses every two years, and pay her renewal fees. tell the Department to cancel her license. plan to take a 28-hour reactivation course before two years are up. tell the department she will be ready to work again in about three years.

take the post-licensure course before her first renewal, then take the CE courses every two years, and pay her renewal fees

Of the following, which real property interest applies to land ownership?: tenancy in common tenancy at will tenancy at sufferance tenancy for years

tenancy in common

Although the roof on a house for sale leaks, the ceilings show no water damage. A broker represents the seller as a single agent and the seller has told the broker about the leak. If a prospective buyer asks nothing about the roof, the broker's legal obligation is satisfied if she says: nothing about the roof's condition. the roof appears to be in good condition. that there is no sign of water damage. that there is a leak in the roof.

that there is a leak in the roof.

Which are not considered physical components of real estate? timber rights. surface rights. subsurface rights. air rights.

timber rights.

When a broker employs a real estate sales associate, the licensee has: no obligations to the broker's clients. only a fiduciary duty to his broker. the same obligations than his broker for their clients. no fiduciary obligations.

the same obligations than his broker for their clients.

A seller's marketable title to real property may best be provided by: an abstract and a current tax certificate. an updated abstract or having evidence of title insurance. a statement declaring the non-existence of liens. title insurance and a first mortgage release.

title insurance and a first mortgage release.

When a person owns property or holds vested ownership rights in a property, that person has insurance. adverse possession. title. escheat possession.

title.

Remuneration received for a broker price opinion (BPO) or comparative market analysis (CMA) represents a brokerage activity and must be paid straight to the sales associate. in cash. to the escrow account. to the sales associate's broker.

to the sales associate's broker.

Jean-Paul and Michelle are in the process of purchasing their first home. When will the actual transfer of title be made?: when the deed is recorded at the closing when the contract is signed by the seller when the deed is signed and delivered by the granto

when the deed is recorded

A licensed appraiser is compensated for an appraisal: With a percentage of the property's selling price with a percentage of the property's appraised value with a flat fee with a percentage of an income-producing property's profit

with a flat fee