{"id":117954,"date":"2023-09-02T03:25:47","date_gmt":"2023-09-02T03:25:47","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=117954"},"modified":"2023-09-02T03:25:49","modified_gmt":"2023-09-02T03:25:49","slug":"florida-real-estate-exam-2023-2024-questions-and-answers","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/09\/02\/florida-real-estate-exam-2023-2024-questions-and-answers\/","title":{"rendered":"Florida Real Estate Exam 2023-2024 Questions and Answers"},"content":{"rendered":"\n

Binder deposit shows up as what on closing statement? – ANSWER-Credit to buyer
Which of the following is true about leverage? – ANSWER-Leverage is the use of
borrowed funds to purchase assets.
Which of the following liens would take priority? – ANSWER-A property tax lien
In which of the following theories of mortgage lending does the borrower not retain
ownership of the property during the loan period? – ANSWER-Title theory
What is the status of a sales associate’s license if he does not complete the required
45-hour post license course before the first expiration of his license? – ANSWER-Null
and void
Which mortgage clause allows the mortgagee the right to demand the outstanding loan
balance plus accrued interest in the event that the borrower sells or transfers any
interest in the property without the lenders prior written consent? – ANSWER-Due-on\u0002sale clause
Which of the following is the type of method a surveyor would use to describe a property
that is in a subdivision? – ANSWER-The lot and block method
Which of the following is also called “legal notice” and is the act of recording documents
in the public records? – ANSWER-Constructive notice
What kind of rights are associated with water flowing through your property? –
ANSWER-Riparian rights
Which of the following expenses associated with a principal residence are deductible for
income tax purposes? – ANSWER-Mortgage interest and property taxes
In platted subdivision, the legal description most often used is? – ANSWER-Lot and
block
An option contract is a? – ANSWER-Unilateral contract
Assuming that the broker is a seller’s agent, the sales commission would appear most
commonly on the closing disclosure as a? – ANSWER-Debit to seller

Harold filed his application for sales associate licensure 31 days ago. To date he has
not heard if his application has been approved or not. What is the status of Harold’s
application? – ANSWER-It is still pending approval until 90 days have passed.
A licensed broker in Georgia moved to Florida 6 months ago and now wants to apply for
a Florida broker’s license under the mutual recognition agreement between Florida and
Georgia. What must the broker do to obtain the Florida license under this agreement? –
ANSWER-The broker is not eligible for a Florida license under the mutual recognition
agreement.
Lisa is a full-time graduate student in an appraising degree program at the University of
South Florida. All of Lisa’s appraisal activities are being supervised by Ken who is a
licensed real estate broker. What type of license must Lisa have to perform the
appraisal activities she is involved in? – ANSWER-No license
If Charlie submits an application for licensure, completes the educational requirements,
but does not pass the licensing exam, when will Charlie’s application expire? –
ANSWER-2 years after it was received
To meet the continuing education requirements for either a sales associate or a broker,
what can a licensee substitute for 3 classroom hours of coursework? – ANSWER-A
Attendance at a legal agenda session of the Commission
B An approved course on real estate issues relevant to the modern practice of real
estate by a licensee
C An approved course on technology used in the real estate industry
D Any of the above
A broker’s post-license education requirement includes – ANSWER-passing end-of\u0002course exam.
Ted is a licensed real estate broker in Florida, but he is moving to North Dakota to live.
What should Ted do about his Florida broker license? – ANSWER-Notify the
Commission of his change of residency and comply with nonresident requirements
If an applicant omitted information on the license application, within what time frame
must the applicant be notified to correct the error? – ANSWER-30 days
If an applicant makes an error on the license application, the license may be denied if
the error is not corrected. What is the exception to this rule? – ANSWER-The applicant
was not notified of the error within the designated time period.
Which Florida statute or code covers the Commission’s administrative rules that include
detailed principles for real estate practice? – ANSWER-Chapter 61J2
Which statute established general provisions for the Department of Business and
Professional Regulation? – ANSWER-Chapter 455

Which of the following is the most accurate definition of real estate broker? – ANSWER\u0002A person who buys or sells real estate on behalf of others for compensation
Which Florida statute establishes real estate licensees’ legal rights and responsibilities?<\/p>\n\n\n\n