Florida Real Estate Exam Practice Questions 2022 Flashcards

Florida Real Estate Exam Practice Questions 2022 Flashcards Real estate licensees on active duty with the U.S. Army are required to renew their licensesa. every two yearsb. on dischargec. within one year after discharged. within two years after discharge

• within two years after discharge

A salaries individual manages a condominium building and rents units for three-month to six-month periods. The managera. must be licensed under F.S. 475 because leasing is one of the real estate servicesb. must be licensed under F.S. 475 because she rents condominium units for compensationc. must be licensed by the division of condominiums and timeshare salesd. is exempt from licensure under F.S. 475

• is exempt from licensure under F.S. 475

Which duty is an exercise of the FREC's quasi-legislative power?A. Adopt a sealB. Make determinations of violationsC. Promulgate rulesD. Grant or deny applications for licensure

• Promulgate rules

A contract that is NOT in writing is calleda. a formal contractb. a parol contractc. a unilateral contractd. an executory contract

• parol contract

The field of property management has experienced growth and specialization primarily because ofa. the deregulation of the real estate industryb. the increase in the number of licensees specializing in property managementc. the increase in the number of absentee ownersd. higher construction costs that have caused an increase in the number of renters.c.How many members of the FREC may hold a current active sales associate license?a. oneb. twoc. fourd. five

• one

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 courseb. complete 14 hours of continuing education for sales associatesc. document at least three closed real estate transactionsd. complete at least three years of experience as a sales associate before taking the broker license exam

• successfully complete the 45-hour post-licensing course

An offer is NOT terminated bya. a counterofferb. an acceptancec. a rejectiond. an extension

• an extension

The term of office for each commission member isa. two yearsb. four yearsc. five yearsd. seven years

• four years

Which statement is true regarding multiple licenses?a. a broker associate may hold multiple licenses.b. a broker who qualifies as the broker for more than one brokerage company holds multiple licenses.c. sales associates may be registered under more than one brokerage provided the companies are owned by the same broker.d. unlicensed owner-developers are issued multiple licenses if they own more than one real estate development.

• a broker who qualifies as the broker for more than one

brokerage company holds multiple licenses.Appraisers are paid a fee becausea. to accept compensation based on the appraised value is a conflict of interestb. custom dictates the method of compensationc.the fee would be too high if it were based on a percentage of property valued. only brokers and sales associates are paid commissions for their services a Who may NOT reactivate a license to active status?a. A voluntary inactive sales associateb. A licensed corporate director of a real estate companyc. An involuntary inactive brokerd. A sales associate who did not complete post-licensing education before the expiration of the initial license

• A sales associate who did not complete post-licensing

education before the expiration of the initial license.which type of construction involves building to a buy's specifications?a. Tract homesb. Spec homesc. Custom homesd. Model homes

• Custom homes

A valid real estate sale contracta. contains all the essential elements and is in writing.b. has been acknowledged.c.required witnessingd. 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 objectb. offer and acceptancec. meeting of the mindsd. competent parties.

• competent parties

Which statement BEST describes who must be licensed to practice real estate in Florida?a. anyone who performs any of the services in real estateb. anyone who performs any of the services of real estate for anotherc. anyone who performs any of the services of real estate for another for compensationd. anyone who performs any of the services of real estate for another for compensation, unless specifically expected by law.

• 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.475a. A salaried employee of a governmental agency who performs real estate services for the state and does not receive commissionb. individual dealing in the personal property onlyc. individual serving as a personal representative and acting within the statutory limits of that designated roled. an employee of a real estate developer

who receives a salary plus bonuses based on sales quotas.

• an employee of a real estate developer who receives a

salary plus bonuses based on sales quotas.What information appears on the face of a real estate license?a. Governor's signatureb. Secretary of the DBPR's signaturec. License numberd. Licensee's email address c.The following statements are true with respect to the members of the FREC except that theya. are a mix of real

estate practitioners and consumer membersb. are accountable to the governor for proper performancec. are DBPR employeesd. depend on the DRE for their administrative assistance

• are DBPR employees