Florida Mutual Recognition Practice Test

These questions are part of the practice quiz. Start practicing

• Which statement is true about corporate officers who engage in real estate business?
• Funds held by a 3rd party on behalf of two parties in a transaction are generally called what?
• Which act requires local governments to develop a land-use plan coordinated with surrounding localities?
• A single-family dwelling usually attached to one other home and featuring a patio on one side describes which housing type?
• Under portability when the new home is less expensive, the tax levies described are used for what purpose?
• Under Save Our Homes, the annual increase in assessed value for homestead property is limited to the lesser of 3% per year or what index?
• If no time is specified for performance, the implied period is described by which term?
• What two actions must be satisfied before building permits can be issued for subdivision plans?
• Which is a required element of a comprehensive plan?
• What creates a single agency relationship?
• Broker clouds the title to real estate by filing false, void, or unauthorized documents in the public record — this is fraud.
• A broker using lotteries or trading schemes that involve selling certificates or chances to induce any person to buy real estate is guilty of which of the following?
• Redlining is best described as which practice?
• What is the maximum capital gains exclusion for a single homeowner on the sale of a primary residence?
• What is the amount of the additional exemption?
• Which property pays a reduced levy because they qualify for a partial exemption?
• Where are the offices of the Division of Real Estate located?
• An individual authorized under agency law to execute a single act; brokers are considered special agents.
• Days notice for formal hearing
• For a not-for-profit corporation, what is the allowed extent of real estate activity for its own use?
• Which flood zone has a 0.2% annual flood chance, often near levees?
• Which combination lists the three areas of expertise of a real estate professional?
• What can a limited partnership do regarding real estate?
• Property taxes are due by which date following the tax year?
• Which term refers to extenuating circumstances accompanying the violation that may justify a lesser penalty?
• Which describes an oral agreement or partially written contract that may not contain all elements and may not be enforceable under the statute of frauds?
• Which contract has all parties fully performed, such as buyer paying and seller delivering the deed?
• Which form number is used for the Florida DBPR license application?
• What must be reported to the Department within 10 days?
• Which term describes a request to vary from the literal interpretation of the ordinance, potentially granted when there is undue hardship on the owner?
• Which of the following is NOT a protected class under the federal Fair Housing Act?
• What is the primary purpose of real estate taxes?
• Which Florida Statute governs the Administrative Procedures Act applicable to the Department of Business and Professional Regulation (DBPR)?
• Why can't a broker render a title opinion that the property being sold is good or merchantable?
• How many members make up the Florida Real Estate Commission (FREC)?
• Which of the following is not described as a form of advertising in the material?
• What term describes a relationship where parties act in their own best interest in a real estate transaction, often described as 'buyer beware'?
• What is the maximum Recovery Fund payout for multiple judgments?
• What term describes a business owner who discontinues operation for an extended period?
• Phase II ESA is required when what occurs?
• What term describes damages not specified in the contract but determined by a court after a breach?
• Which statement about general partnerships is true?
• Which component of the comprehensive plan states the proposed future general distribution, location, and extent of the land uses?
• What term describes the provision that allows the cap savings to be transferred to a new homestead?
• The acronym CDD stands for what?
• Which statement correctly describes Zone V?
• Which entity may NOT register with the DBPR to broker real estate?
• Which act is described as a modification of the Growth Management Act, strengthening local governments, streamlining planning and reducing reviews and costs?
• Which basis allocates improvement costs based on the number of feet a property has along the street?
• Which statement accurately describes branch office registrations?
• Which of the following is an acceptable element in an LLC name?
• Which statement best describes probation in real estate licensing?
• Which contract type has all terms and conditions explicitly stated and agreed to by the parties?
• How long does a licensee have to dispute a citation?
• Who is the head of The Department, appointed by the governor, confirmed by the Senate, with no term limit?
• The Florida Real Estate Commission is commonly referred to as what?
• Which contract is formed by an exchange of promises between both parties?
• The term 'immediately' for depositing escrow funds after receipt is defined as by the end of which business day following receipt?
• The Third-Degree Felony violation includes which offenses?
• Requirements in order to conduct official business at a FREC meeting
• Under the HUD purchase escrow disbursement exemption, what may the broker do with the escrow deposit?
• What action must a broker take within 10 business days if a dispute is settled or goes to court before a requested EDO is issued?
• What term describes a listing arrangement where an owner allows a broker to show property to prospective buyers without a written listing, and the property is sold?
• Within how many days of the TRIM notice mailing date must you file a request for hearing before the Value Adjustment Board?
• Which organization is specifically noted as not registering with the DBPR to broker real estate?
• Which item besides electronic fingerprints and fees is required in the license application package?
• Which statement best describes the regional planning council?
• Which actions can the investigator take toward the respondent?
• Which statement is true about exclusive right of sale listings?
• Must adjudication withheld be disclosed on the real estate license application?
• If a tenant does not pay within 3 business days after a written demand, what may the landlord do?
• Which term describes development that, because of its character, magnitude, or location, would have a substantial effect on the health, safety, or welfare of the citizens of more than one county?
• If mediation fails to resolve escrow disputes within the 90-day period, what must the broker do next?
• Which penalty is described as temporary (maximum 10 years) and the length depends on the seriousness of the violation?
• When a New Active Broker Is Appointed After a Vacancy, What Happens to Transactions Already in Progress?
• Which statement best describes liquidated damages?
• What is the remedy that asks the court to interpret a contract in advance of a breach?
• Which topic corresponds to the knowledge required for handling commercial property transactions?
• Which statement best describes complaints involving office signs, branch offices, or compensation shares?
• What is the probable cause panel timeline?
• After a summary suspension order, which body must take action?
• Which term describes fraudulent activity where a broker forms a scheme with another person with the intent to defraud a third party?
• When does an investigator forward a report to the legal section of the Division for further action on a complaint?
• Disclosures apply to which representations when discussing single agency and nonrepresentation scenarios?
• Which of the following best describes the duties of a property manager?
• A stay of enforcement may be issued during appeals if there is no threat/danger to the public; what is the purpose?
• Which term refers to mutual consent of the parties to terminate an agreement?
• Which of the following is a true Principal Brokerage Office requirement?
• Who has the duty to disclose material defects to a buyer in Florida real estate transactions?
• What term denotes the withdrawal of an offer by the offeror before acceptance?
• Which federal act established authority for the Environmental Protection Agency to identify abandoned hazardous waste sites and pursue parties responsible for releases?
• Which building requirement states that base elevation can be met by fill dirt or elevated construction?
• Which are the primary taxing districts in Florida?
• The phrase 'an artificial person created by law' most accurately describes which term?
• Licensee must turn over escrow funds to broker within 1 business day of receipt from customer.
• What is the maximum first (basic) homestead exemption amount?
• Which document is used to require correction within 15 days?
• Which term denotes a zoning concept that allows mixed residential, commercial, and light industrial uses with shared common areas?
• Is it possible for an option contract to be valid without any option money?
• Which term describes an inherently unenforceable contract that cannot be performed due to impossibility, illegality, or public policy?
• Within how many days must a broker report a change of residency status to FREC?
• Which penalty applies to a sales associate who collects money in a real estate transaction in the name of the employer without consent, or who disseminates false or misleading advertising?
• Which professional is most likely to perform an appraisal of a property?
• In a civil lawsuit, who is typically liable for the acts of partners or sales associates acting within the scope of employment?
• Which document specifies the name, life span, and powers of the corporation?
• Which procedures are conducted during a construction project to ensure that the contractor is completing construction in accordance with the approved plans and is in compliance with code?
• Greenbelt laws are which of the following in relation to property taxation?
• For real estate licensing operations, which entities must hold a permit issued by The Department?
• Which instrument stays enforcement during appeal?
• How long does an applicant have to request a hearing to protest denial of license?
• Effective 10/1/97; Florida BRDA; specifies relationship between broker and the broker's employer in residential real estate transactions; disclosure forms must be used for each relationship.
• What formatting requirement applies to the first sentence of the Single Agent Notice?
• Which term is prohibited in an LLC name?
• The Value Adjustment Board is composed of five members including which roles?
• What additional duties are provided specifically by a transaction broker?
• Under the do not call rules, a licensee may call a customer within 18 months after the last purchase, delivery, or payment, and within how many months after that customer makes an inquiry?
• If the tenant does not reside in an acceptable manner, the landlord may terminate after how many days from written notice to move out?
• Which term describes a form of conversion when a broker cannot produce funds or property entrusted to them?
• Under Florida practice, how long must the landlord notify the tenant by certified mail, and how long to return any remaining balance?
• A Team/Group must perform licensed activities under the supervision of whom?
• The unwritten law, especially the English tradition based on custom or court decision, as distinct from statute law, is known as which term?
• Which term describes the long-range plan that guides growth and development, providing the overall framework?
• What is the primary purpose of the Department of Legal Affairs Office in Florida real estate regulation?
• Division of Administrative Hearings (DOAH)
• A general partnership can buy or sell real estate for its own use but cannot provide real estate brokerage services to the public.
• Actual cap savings can be transferred under Save Our Homes portability up to what amount?
• When can the corporate veil be pierced?
• Which of the following best describes the role of the board of directors?
• Informal hearing description
• Background study that reviews local business activity and employment to assist in projecting population, income, etc. is called:
• How is the millage rate typically expressed in Florida?
• What is the exemption amount for veterans with at least 10% military service-related disability?
• Which type of damages are reimbursable by the Recovery Fund?
• Which abbreviation refers to the entity created to regulate professionals under the described law?
• Phase I ESA requirement is linked to which act?
• Which disciplinary action is the least severe penalty?
• Penalties for intentional or reckless discrimination are described for discrimination based on which characteristic?
• What is a civil penalty?
• What term describes the number of people or residential units allowed per acre?
• Within how many business days must the broker institute one of the four authorized settlement procedures to resolve the dispute?
• In a Limited Partnership, which statement is true regarding the partnership name?
• What is a foreign corporation?
• After failing the broker post-license exam, what option is allowed?
• Individuals or businesses that arrange loans between lenders and borrowers; they do not make loans; they must have a separate license issued by the Florida Department of Financial Services (FDFS)
• When escrow is deposited with a title company or an attorney, what information must be indicated on the contract?
• Within how many days after the date of the Value Adjustment Board hearing must you file an appeal with the District Court of Appeals?
• Which term describes fees or anything of value accepted by a broker in exchange for referrals of real estate closing services?
• Which term refers to a large tract of land that combines residential single-family use with other uses such as multi-family, condos, apartments, commercial, or light industrial, with a portion reserved for common usage?
• Greenbelt laws provide what kind of treatment?
• In a Limited Partnership, who provides financial capital but is not personally liable beyond their investment and cannot manage the business?
• Which act evaluates and approves comprehensive plans submitted by cities and counties, in compliance with the State Comprehensive Planning Act?
• If a special assessment project is complete, who typically pays the assessment lien?
• Which zoning category is determined by intensity and regulates parking requirements and the size/height of improvements?
• If there is no damage claim, when must the security deposit be returned after the tenant vacates?
• How long should a licensee keep disclosure documents?
• Who runs the business in a limited partnership and is personally liable for all activities and debts of the partnership?
• Which statute governs the structure of the Department?
• Prior to making recommendations to the governing body regarding the comprehensive plan, the local planning agency must hold at least ________.
• Which final order is decided by the Secretary of DBPR rather than the FREC?
• Taxable value is best described as what?
• Which statement best defines the purpose of a Community Development District?
• Which background study evaluates the location and capacity of roads and their future needs?
• Which procedure involves appointing a mediator who helps parties reach an agreement but has no power to impose a decision?
• What constitutes illegal commissions?
• Which concept describes development that has occurred on the land, proposed by a developer on the land, or use that is permitted or permissible on the land under an adopted comprehensive plan or element?
• A transaction in which a loan is made by a federally-regulated lending institution that uses real property is called a...
• How long can a license remain in involuntary inactive status before becoming null and void?
• Which party receives the rights in a contract assignment?
• Which term describes the arranger of loans who does not issue loans themselves and must be licensed?
• Which term describes a person who owes a duty of trust and confidence to another and has the power to act for that person?
• Who is eligible to serve as a board member or officer?
• To qualify for the capital gains exclusion, ownership and use must be for at least how many years?
• Which exemption requires authorization by the city or county and the homeowner to be 65+ years old with income of $20,000 or less?
• What term describes the actual amount of tax payable by the property owner, calculated by multiplying the taxable value by the millage rate?
• Adjudication withheld is best described as:
• After receiving the notice of balance, how many days does a tenant have to object?
• Which scenario would be considered a qualifying residential transaction?
• Which business form is an example of a business whose participants are jointly and severally liable?
• What is the formal term for ending a tenancy due to nonpayment of rent?
• Which value is used to determine a property owner's tax liability?
• Additional (2nd) exemption for values 50K–75K and above 75K is what?
• What does LLP stand for?
• For broker post-license renewal, what happens if the course is not completed before expiration?
• Regarding the official seal and meeting records, which statement is correct?
• Which term describes the activities a corporation is authorized to engage in, such as lending money or brokering real estate?
• In an LLP, which statement about liability is true?
• The historical origin of the land transfer writing requirement is associated with which country and year?
• Which license type is described as a license for individuals who do not actively engage in real estate and must maintain it by paying fees and CE?
• Which list represents the eight services of real estate that typically require licensure?
• Which of the following is formed under common law principles for religious purposes and may not register as a real estate brokerage corporation?
• How long does a broker have to deposit escrow funds after receipt?
• How many lay members are part of FREC and what is their purpose?
• BRDA is codified in which Florida Statutes range?
• What is the maximum civil damages for a third offense within seven years?
• What is the maximum penalty for license violation?
• Who determines the Assessed (Just) Value each year?
• Under contract law, when rights are transferred to another party but the original party remains liable for performance, this is known as what?
• Which statement best describes a contract that has not yet been fully performed in a real estate transaction?
• Interruption of utility service or restriction of tenant access to collect rent is permitted only under which condition?
• Who appoints the Director of the Division of Real Estate?
• Which statement accurately describes the Commercial Real Estate Leasing Commission Lien Act?
• Which media are typically sampled during Phase II ESA?
• Which limitation is typically imposed on licensees preparing leases?
• How many days to file the Answer after a complaint?
• For a special assessment project that is incomplete, who pays the pending special assessment lien?
• Which of the following best describes an exclusive agency listing?
• Under BRDA, a subagent owes duties to the principal through whom?
• What is the minimum passing score on the Florida state real estate exam?
• In the three-phase development and construction sequence, which step comes last before building permits are issued?
• In a Real Estate Brokerage Limited Partnership, which type of person cannot be a general partner?
• Which factor controls residential zoning, including limits on the number of dwelling units per acre, lot size, setbacks, and lot coverage percentage?
• Which four elements are typically required for an option contract?
• Who is a person who acts on behalf of and represents the interests of their employer (the principal)?
• During an appeal, can the licensee work?
• What is the maximum payment from the Recovery Fund for a single judgment?
• A broker may rebate a portion of their commission to a client who is not licensed if what condition is met?
• If an application is denied due to a minor error, what is the likely outcome?
• Which description matches the 55+ housing criterion used for exemptions?
• If an Escrow Disbursement Order appeal is upheld, which fund may reimburse the broker for damages?
• The radon gas disclosure requirement applies to which type of transaction?
• Which flood hazard zone is the next-most vulnerable after Zone V and corresponds to the 100-year floodplain?
• After a judgment is obtained in a real estate matter, what asset is used first to satisfy it?
• Which term refers to an offer that rejects the original and proposes new terms?
• Sole proprietor sign must include:
• What is the maximum number of lay members allowed on the probable cause panel?
• Which description best characterizes a Joint Venture (joint adventure) in real estate practice?
• Tenant may terminate if the landlord does not make required repairs within 7 days of receiving written notice from the tenant. Who may terminate?
• The phrase 'penalty for citation' refers to which action?
• All corporate officers engaged in the real estate business in a Real Estate Brokerage Corporation must be...
• Ad valorem taxes are based on what?
• Executive Order 13988 prohibits discrimination based on which characteristics?
• What is the civil penalty range for unlicensed practice of real estate?
• Who can be a stockholder in a real estate brokerage?
• For mediation offenses, by how many days after contact from a mediator must the parties agree to mediation?
• What does the Commercial Real Estate Leasing Commission Lien Act provide for?
• Which item is typically included in a listing agreement?
• A buyer's broker is entitled to compensation when which event occurs?
• Registration with the Florida Commission on Human Relations requires registration via certified letter with a fee and proof of compliance; how long is the registration valid?
• Which trust type has units sold to the public as securities and cannot register as a real estate brokerage corporation?
• Which word must appear in the name of a Limited Liability Company (LLC) in Florida?
• Which body addresses land use planning and infrastructure issues that span multiple jurisdictions to ensure local plans coordinate with surrounding areas?
• What additional duties are provided by a single agent?
• Which zoning category is specifically associated with controlling height and land coverage of structures?
• Which organization is the largest trade association in Florida real estate?
• A party who has been granted authority to act on behalf of another agent; has the same duties to the principal as the agent; sales associates and broker associates are subagents of brokers' principals.
• What consequence occurs if the 14-hour CE requirement is not completed?
• An individual deemed by the DBPR to lack character or competence to deal with the public safely, or found guilty of something they would have been suspended or revoked for if they had a license, may be denied a license for which reason?
• Showing Agreement: Buyer agrees that if they purchase a home shown to them by the licensee, they will make that purchase through the licensee.
• Which term describes fraudulent activity where a broker uses funds or property belonging to another for personal use, including misusing, commingling, or failing to account for funds?
• Revocation of exclusive right of sale agreement by owner: If owner revokes and sells property during the remaining term, the owner would be liable to broker for full commission; may still be liable even if they don't sell.
• For Step 2 protest, which board holds the hearing?
• Which statement best describes the acceptable methods to hold a security deposit?
• If the Florida Supreme Court affirms the decision, what happens to the final order?
• Penalties for violating BRDA
• What licensing requirement must at least one corporate officer in a Real Estate Brokerage Corporation meet?
• Who issues the eviction summons to be served by the sheriff?
• An appeal to the District Court of Appeals is filed if which steps are unsuccessful?
• If a property has exemptions, what is the effect on tax liability?
• Under an ostensible partnership, liability for the actions of the partnership falls on who when a party is deceived or misled?
• Under an option contract, who is obligated to proceed with the sale upon exercise of the option?
• Which rules are required by F.S. 163 on all comprehensive plans - sanitary sewer, solid waste, drainage, potable water?
• An option contract can function as listing.
• Fraudulent activity whereby a broker operates in a reckless, careless, and excessively negligent manner; the broker can be held legally accountable; example is forgetting to collect EM deposit.
• Steering or channeling refers to which activity?
• How is a real estate brokerage corporation formed?
• Which document is issued after all inspections pass, allowing occupancy?
• Which term describes the penalties that may be imposed by the Commission under Florida law?
• What term describes the process of dividing land into parcels for sale?
• What is true about a commission rebate where the client is not licensed?
• Which document shows how much taxes would be if proposed budget changes are made?
• Which act prohibits selling or leasing, by mail or interstate commerce, any lot in a subdivision of 100 or more nonexempt lots unless registered with HUD?
• Which statement correctly states the non-homestead treatment for property taxes under portability?
• Dissolution is the process of which of the following?
• What term is used for a value estimate based on recent sales of similar properties in the same neighborhood?
• Under the Statute of Frauds, what is the time limit to enforce an oral contract?
• Which document may the probable cause panel issue in lieu of disciplinary action and explains the concerns and required actions of the licensee?
• Which statement about civil penalties is NOT correct?
• Penalty for failure to notify when property no longer qualifies for homestead exemption
• Which term is listed as part of the Property Report elements in the referenced material?
• What term describes the mutual consent of the parties to terminate an agreement?
• Which statement best describes the scope of the Florida Residential Landlord and Tenant Act?
• Which development approach involves acquiring a large tract of land, recording a subdivision plat map, and using a model center from which sales may be made?
• Which act provides exclusion thresholds of up to $500k for married couples filing jointly and $250k for single homeowners?
• Which building requirement relates to Zone V and describes first floor above base flood elevation with elevated construction and breakaway materials below?
• If the use was established prior to implementing the current ordinance or a zoning change caused the previously conforming use to become nonconforming, what is this status called?
• Which statement about a Limited Liability brokerage company is correct?
• Which types of contracts typically must be in writing to be enforceable?
• If the purchaser did not receive the Property Report, within how long can they cancel after signing the contract?
• If parties disagree with an Escrow Disbursement Order, where may they appeal?
• Which action is listed as a penalty under Florida Fair Housing violations?
• The clerical personage who takes title to real estate for a corporation sole is called what?
• Which entity conducts hearings on individual zoning requests and may grant variances or exceptions?
• What are the two additional duties that both transaction brokers and single agents owe to their customers or principals?
• Which statement about redeeming a tax certificate is correct?
• Which penalty is associated with a First-Degree Misdemeanor violation?
• Which option correctly defines breach of contract?
• If you are a sole proprietor who helps others buy and sell real estate, what is the proper DBPR designation?
• What happens to a license after a Recovery Fund payment is made in the licensee's name?
• Which statement correctly describes the relationship between Phase II and Phase III in the assessment process?
• Which of the following is a land use category in the five-category framework?
• Which property is immune from ad valorem taxes (not assessed) unless it is leased to a private business?
• Which type of property pays no real estate taxes due to charitable use?
• Which of the following is NOT one of the five land use categories typically listed in a comprehensive plan?
• Which jurisdiction’s local comprehensive planning acts are in effect in Florida?
• Where must the disclosure be included under the Commercial Real Estate Sales Commission Lien Act?
• A fair housing complaint filed with HUD may result in civil damages suit in federal court by which agency?
• What are the Florida real estate license requirements?
• What is the maximum amount stated for security deposits or total security holdings (whichever is less)?
• Which statement describes what must be included in the name of an LLP?
• What term refers to money or anything of value that can be converted to money?
• Final order - unlicensed individual: where to file and within how many days?
• Whose signed consent is required for transition to transaction broker?
• How is the Recovery Fund funded?
• For an LLP, what is the minimum liability insurance per partner?
• If a contract provides a fixed sum to be paid upon breach, what is this sum called?
• Which study locates and analyzes existing recreational and community facilities to determine the community's ability to continue to provide those services in the future?
• For a Real Estate Brokerage Limited Partnership, what are the formation requirements?
• One who has authority to act for and represent the principal in all matters without limitation, typically by a power of attorney.
• Final order - licensee is decided by which entity?
• When can a broker retain escrow funds?
• Which group provides MLS access, networking opportunities, specialty education, local market research, technology, and code of ethics enforcement/arbitration?
• In a single agency relationship, who is the employer?
• Which statement is true about stockholders and corporate ownership?
• Who can exercise the authority to promulgate publications and investigate complaints within the Florida Real Estate Commission?
• Which type of contract must meet the writing requirement of the statute of frauds to be enforceable?
• Homebuyers under age 59.5 may withdraw up to $10K from IRA without the 10% penalty if the funds are used for what purpose?
• How many authorized settlement procedures exist to resolve escrow disputes?
• Partial performance of contract terms is an example of which concept?
• Which entity provides real estate services to the public and is a type of corporation in this context?
• What describes a Group License in Florida real estate regulation?
• Which entity is formed under common law principles for religious purposes and may not register as a real estate brokerage corporation?
• Which statement best captures the primary purpose of Phase I Environmental Site Assessment?
• Which law governs how violations are dealt with when they cannot be disposed of by Notice of Noncompliance or a citation?
• Which term describes the party that hires the broker and benefits from the broker's loyalty in a real estate transaction?
• Which body constitutes the final order panel?
• In disciplinary actions by the Florida Real Estate Commission, which must be proven regarding the broker?
• Which act allows taxpayers to deduct interest paid on home equity loans, but only when the loan is used to buy, build, or substantially improve a primary/secondary residence that secures the loan?
• The Comprehensive Environmental Response, Compensation, and Liability Act is commonly referred to as what?
• Which term best describes filing false documents to cloud the title?
• TRIM notices are mailed in which month?
• Which concept describes the creation of a contract, including an offer, acceptance, and delivery to all parties?
• Which entities may register a trade name with the Department of State?
• Which item is required as part of the Florida real estate license application?
• Under Florida rules, a CAM license is required when which condition is met?
• Which settlement procedure results in a binding award after a hearing?
• What term describes a broker's promise to resell or repurchase property at a future date?
• Building permits can be issued for subdivision plans once the plat has been ___________ and the plat has been made a part of the _______.
• What happens to the Save Our Homes assessment limitation when the homestead is sold?
• Which term describes physical assets constructed or purchased to provide, improve, or replace a public facility, typically large-scale and high-cost?
• When must licensee's broker make written request to title company or attorney to provide escrow deposit receipt?
• What term denotes termination of a contract when one party fails to meet obligations, allowing the other to terminate?
• In case of escrow dispute and/or good-faith doubt, what actions must the broker take?
• What term describes a structure built before securing a buyer with the hope of selling the finished structure?
• Which type of business hires and pays employees locally with dollars earned from people who live in the same community, thereby recirculating the dollars within the community (such as retail stores and beauty shops)?
• Under CERCLA, which agency has the power to seek out liable parties and ensure cooperation in cleanup?
• Which term means sufficient proof of a claim in the absence of further evidence to the contrary?
• Under an exclusive listing agreement, if the owner revokes and sells the property themselves during the remaining term, the broker is not entitled to a commission.
• Which statute is known as the Federal Fair Housing Act?
• In the context of agency law, what is the term for law created by administrative agencies to carry out duties?
• Redemption is calculated from which dates?
• Which element of a comprehensive plan covers water supply, sanitary and storm sewers, and solid waste management?
• When registering a Real Estate Brokerage Corporation with the DBPR, which item must be listed?
• Which term describes the final decision after a hearing that includes findings and conclusions?
• What type of contract is written and contains all essential elements, making it enforceable under the statute of frauds?
• What is the term used for the emergency suspension order?
• Which entity is described as a business owned by stockholders who share profits but are not personally responsible for debts and can buy or sell its own property without a real estate broker or DBPR registration?
• Can a General Partnership Act as a Real Estate Brokerage to the Public?
• When are Florida real estate license expiration dates set?
• In real estate disclosures, what term describes a defect that would significantly affect property value and must be disclosed?
• If a broker fails to report a change of address within the required timeframe, what is the penalty?
• Which items are included in the Florida license application package?
• Within how many days must a petition for judicial review be filed after a final order?
• What does the acronym EIS stand for in environmental impact assessments?
• Under the Americans with Disabilities Act, existing properties must be made accessible when changes are readily achievable and economically feasible.
• Licensure means:
• What is the penalty per violation for calling a number listed on the federal Do Not Call List?
• A partnership that has at least one general partner and at least one limited partner is called a
• Who is exempt from registering a trade name with the Department of State?
• Which body conducts public hearings that deal with individual zoning requests?
• Which Florida statute governs fair housing and prohibits discrimination in housing?
• What is the definition of a general partnership?
• Which penalty applies to violations concerning rental lists, information, and contracts, with a $1000 fine and/or imprisonment up to 1 year?
• What does the acronym EDO stand for in escrow disputes?
• Which of the following qualifies as a residential transaction in Florida?
• If no time is specified for performance, what term describes the implied period?
• Who appoints the members of FREC, and who confirms them?
• What is the administrative fee for submitting false information in meeting HIV/AIDS requirements?
• For broker post-license renewal, how many hours are required before the end of the initial license period?
• Under the Interstate Land Sales Full Disclosure Act, how many days does a purchaser have to cancel after receiving the disclosure report?
• What is the term for a situation in which a single brokerage represents both the buyer and seller in the same real estate transaction, requiring transition to a transaction broker?
• Which contract refers to terms that are inferred from the conduct of the parties rather than written or spoken words?
• If a property changes its use without obtaining the necessary zoning changes, variances, or special exceptions, this is described as which of the following?
• If a property owner does not redeem the tax certificate, what happens after the redemption period?
• Which term describes a party walking away and not performing toward fulfilling the contract?
• What term describes individuals who group together for a purpose without forming an organization, where members are jointly and severally liable?
• Is the principal required to sign the fiduciary disclosure?
• Who reviews the Administrative Law Judge's recommended order and issues the final order?
• Which Florida Statute establishes hearing procedures for the Florida Real Estate Commission?
• Which flood hazard zone is the most hazardous and typically follows coastlines and estuaries?
• Licensees who have no brokerage relationship with potential buyers/sellers must disclose their duties to buyers/sellers in writing before showing a property.
• Local rules or laws that protect the general welfare of the citizens of a community are known as which of the following?
• Which part number corresponds to the Leasing Commission Lien Act?
• Exclusion from gain can be used no more than ________.
• In team/group advertising, who must be designated to be filed with the broker to be responsible for ensuring advertising compliance?
• Which option is listed as a category of land use in the five-category framework?
• Who may file an application to register a trade name with the Department of State?
• What do you call a property holder who does not reside on the property and relies on a property manager to supervise the investment?
• Which term describes a form of conversion that occurs when a broker is required to produce money or property belonging to another in the normal course of business and either cannot or will not produce the money or property?
• Under an As-Is contract, what is the seller's obligation to repairs discovered during an inspection?
• Which statement best defines Breach of Trust?
• What is the composition of the probable cause panel for Florida disciplinary investigations?
• Who cannot use a trade name in real estate practice?
• An advertisement placed online must confirm to the same requirements as printed material. This type of advertising is known as:
• Which department oversees licensing, oversight, and regulation of businesses and professions in Florida?
• Which type of damages are awarded to punish the defendant rather than to compensate the plaintiff?
• Which remedy is requested when the non-defaulting party wants the other party to perform the contract as agreed?
• What does the 10 mill cap refer to?
• Which term describes a structure built by a contractor tailored to the customer's specifications?
• Phase II ESA involves collecting samples for analysis of potential contaminants such as which of the following?
• What does DBPR stand for?
• In a Real Estate Brokerage Partnership, who can Perform Real Estate Services?
• Which statement describes Internet advertising?
• Removal of the license - Maximum penalty for violation of F.S. 475.
• Which term describes the body of law addressing the rights, duties, and related obligations arising from a principal-agent relationship?
• Which term describes physical assets constructed or purchased to provide, improve, or replace a public facility, and which are typically large scale and high cost?
• Which entity provides remedies for property owners burdened by inordinate gov't restriction on land use?
• Which housing type is typically exempt from familial status protections?
• What is the tax rate?
• What is the maximum administrative fine per offense that the department may impose?
• What is a domestic corporation?
• What is the maximum civil damages for a first offense under HIV/AIDS discrimination penalties?
• What is the minimum penalty that FREC may impose when its criticism notes the licensee's actions were not satisfactory?
• Which brokerage relationship in Florida is also known as a No Brokerage Relationship, used when a buyer or seller opts out of representation and is referred to as a customer?
• Which of the following is a subcategory of industrial land use?
• Which option corresponds to the phrase used for an act where the broker files false, void, or unauthorized documents in the public record to cloud the title?
• Which remedy is sought when one party fails to perform and the non-breaching party asks the court to cancel the contract and restore the parties to their original positions?
• Which item is included among the required elements of a comprehensive plan?
• What is the authorization required before new construction or renovation can legally occur?
• Who can be a Limited Partner in a Real Estate Brokerage Limited Partnership?
• Which item is included in condo resale disclosure requirements?
• The unwritten law based on custom or court decision, as distinct from statute law, is known as which of the following?
• Which term describes debt incurred to acquire, construct, or substantially improve a primary or secondary residence?
• Businesses whose payroll costs are met by dollars generated from outside the community (eg, manufacturing plants, tourist attractions, airports, colleges) that draw purchasing power into the area are called:
• Which zoning category would govern land designated for government facilities such as schools and parks?
• Which contract is valid but can be canceled by one or both parties due to misrepresentation, coercion, lack of capacity, etc.?
• Under RESPA and CH 475, when is compensation allowed?
• What is the purpose of the Florida Real Estate Recovery Fund?
• Which court action is used when a broker believes they are entitled to some or all of the escrow deposit and the deposit is turned over to the registry pending settlement?
• Under what condition is the broker allowed to retain escrow funds in escrow?
• Step 1 of protesting a tax assessment involves requesting what?
• When the cost of an improvement is divided equally among benefiting properties, what is this method called?
• When the only broker in a real estate brokerage partnership dies or resigns, what must occur?
• Which document is filed when the probable cause panel finds probable cause exists?
• Which documents are included when acknowledging a Single Agent status and transitioning to Transaction Broker?
• For which type of agency relationships are written disclosures required?
• Which term refers to the court's interpretation of a contract, sometimes called the act of interpreting a contract?
• Which of the following describes Florida broker license qualifications?
• BRDA became effective on which date?
• Prerequisite for appointment as an administrative law judge?
• Under FIRPTA, the withholding is 15% for sales above 1,000,000. Which option represents this rate?
• Which act governs the disciplinary process when violations cannot be disposed of by informal measures?
• Rendering an opinion of title by a real estate licensee is considered which of the following?
• In a corporate real estate setting, which group may be licensed or unlicensed and consists of sales associates and broker associates?
• Which term describes local regulations designed to protect the health, safety, and welfare of residents?
• Which action would most likely be considered fraudulent in a real estate transaction?
• What document does a respondent file to respond to a complaint?
• When forming a real estate brokerage partnership, what is the minimum licensing requirement for partners?
• If mediation fails to settle, what must the broker do next?
• What does Part 2 of F.S. 475 regulate?
• How long is the Certificate of Completion valid?
• A corporation created under Florida law is known as what?
• Which activities are typically included in property manager responsibilities?
• Phase I Environmental Site Assessment is required of purchasers of what type of property to identify potential environmental issues?
• Which statement describes an exclusive right of sale listing?
• When registering a trade name, how must the name be advertised?
• After the contract is signed by both buyer and seller, who owns escrow funds?
• Any means by which to contact the brokerage firm or individual licensee including the broker's mailing address, e-mail address, phone number, or fax number is called:
• If a trade name is used by a sole proprietor, where must the name be registered?
• Which description best matches a broker price opinion (BPO)?
• What is a trade name (fictitious name)?
• If the partnership does not appoint another active broker within 14 days of death/resignation, what happens?
• Which statement best describes No Brokerage Relationship in Florida?
• When does a violation of fiduciary duties occur?
• Which property pays a full tax levy?
• Which document is filed to challenge a final order in court?
• If a special assessment project is incomplete and the buyer pays, which lien is recorded?
• A map that describes how the land will be developed (location of buildings, parking, traffic control, landscaping) is called what?
• Mediation agreements must be resolved within how many days after the date of the last demand for funds?
• Which term describes the body of law created by administrative agencies to carry out duties?
• What is the discount percentage for paying property taxes in February?
• Within how many days must the landlord notify the tenant in writing about how the landlord is holding the security funds?
• What best describes a net listing?
• Which of the following must be provided when registering a Real Estate Brokerage Corporation with the DBPR?
• Before a binding contract is formed, who owns escrow funds?
• What is the Statute of Frauds?
• Which term describes a use that does not conform to current zoning, usually created by a change in zoning?
• Which term indicates penalties may be increased due to the seriousness of the violation?
• Which of the following describes a buyer or seller opting out of representation and being treated as a customer?
• False or misleading information with the purpose of offering for sale, lease, or rent any real estate.
• What is the group elected by stockholders to manage a corporation called?
• Which remedy aims to return the parties to their pre-contract positions?
• A standardized method by which all appraisals should be prepared and reported.
• Which type of agent has authority to act for the principal in all matters without limitation, typically by power of attorney?
• Which zone designation indicates a minimal flood hazard area?
• What is the legal duty to act in the best interest of another called?
• Which action asks a court to determine the rights of the parties under a contract before a breach occurs?
• If the owner revokes the listing and lists with another broker who sells the property, the original broker may be entitled to damages or commission.
• F.S. 475 refers to which area?
• Jones v. Mayer (1968) is a landmark case involving which issue?
• The party that receives and holds an option.
• Who may file a petition for judicial review of the final order?
• What is the process of developing an opinion of value on real property, with an independent, impartial, and objective analysis based on research and data pertaining to the value of the specified real property?
• Which business form generally does not require filing documents with the state to form?
• In a single agency relationship, who is the party to whom the broker owes fiduciary duties?
• Which entity maintains the registration list of brokers, sales associates, and businesses that employ licensees?
• Which term describes the relationship in which the seller or buyer places trust and confidence in the broker as their agent?
• The unwritten law, especially of England, based on custom or court decision, and distinct from statute law, is called?
• If a broker's license becomes null and void, how can they revert to a sales associate?
• How many hours of post-license education are required within the first license period?
• What happens to a sales associate's license status when they change employers?
• Under which condition is government-owned property taxed?
• Which advertising is designed to sell a particular product or service, such as a home for sale?
• Which term describes a commission overage where a broker profits at the employer's expense?
• Where must a timeshare disclosure be placed in a contract?
• Where must a brokerage sign be placed to meet requirements?
• What is the total number of FREC members and how are they distributed between licensed and lay members?
• What is the focus of Part 1 of Florida Statutes 475?
• Which document is issued for specified violations when there is no substantial threat to public health, safety, or welfare?
• Which background study examines trends in population (permanent and seasonal) over the past 20-30 years; the demographic info developed in this study (estimate of the growth in number of households) is the most important element used to develop the comprehensive plan?
• What is the primary funding source for the Recovery Fund?
• In Step 1 protest, who is the entity you meet with informally?
• Which term refers to the type of lender that funds real estate loans and handles the loan process?
• Which entity is described as a cooperative housing arrangement?
• A person who owes a duty of trust, loyalty, and confidence to another is called?
• For a special assessment project that is complete and the seller pays, what type of lien is recorded?
• Valuable consideration paid to an optionor to secure the right.
• Which court action is used when a broker does not claim any rights to the escrow deposit under dispute and funds are turned over to the registry pending settlement?
• Which description best fits an open listing?
• Which knowledge area is associated with industrial licensees?
• Under Florida requirements for unsolicited real estate phone calls, which is required when contacting a property owner?
• Phase II sampling aims to analyze contaminants such as which combination?
• Also known as recorded plat; a subdivision map filed by the developer in the county recorder's office that shows the location and boundaries of individual parcels.
• Bidding for a tax certificate starts at what interest rate?
• In a Real Estate Brokerage Limited Partnership, what is the minimum licensing status required for at least one general partner?
• Two real estate licensees in the same brokerage designated by their broker to represent the buyer and the seller as single agents in the same nonresidential transaction are called:
• What are the specified hours during which the landlord may enter the dwelling (typical entry times)?
• Can unlicensed employees of a non-profit corporation buy, sell, or lease real estate for the corporation?
• Conflicting requests in which both the buyer and the seller demand that the broker release escrowed funds is called an
• Which term refers to something of value that is not money, such as love and affection?
• Which act modified the Growth Management Act; strengthened the role, processes, and powers of the local gov'ts in comprehensive planning, streamlined planning process, reduced levels of review, reduced costs?
• Which term refers to the recommended selling price of a property as determined by a real estate licensee, more detailed than a CMA but still not an appraisal?
• What term describes conditional arrangements in which FREC allows a licensee to continue to practice real estate, if the licensee completes specified requirements, typically 90 days?
• Which act emphasizes private property rights and is named after a specific individual?
• Who holds a lien against the licensee's property if the Recovery Fund pays a claim?
• Which business forms may register with the DBPR to broker real estate?
• What liability does a general partner have in a limited partnership?
• What is required for the name of a corporation?
• Which business form provides protection from personal liability?
• Which statement describes the Certificate of Completion?
• Which term describes a party to a contract walking away and doing nothing toward performance?
• Which term describes cancellation by a legally entitled party before acceptance?
• Which background study would be used to determine the highest and best use of land based on soil types and load-bearing capacity?
• In earnest money context, liquidated damages are what?
• Which term describes a zoning approach designed to preserve open space by clustering homes and providing shared common areas?
• The owners of a corporation who are issued shares of stock are called:
• Option contract: right to buy a property during a specified period of time, at a specified price. Not an obligation to buy the property, rather a right that may or may not be exercised.
• What is the age requirement for at least one member of FREC?
• Which of the following would qualify as a residential transaction in Florida?
• The 100% exemption for totally and permanently disabled individuals must be certified by whom?
• Who is the respondent?
• If a licensee changes personal information, within how many days must they notify the Department to reissue their license?
• When is a Florida real estate license required?
• Which Florida Statute Part governs the Commercial Real Estate Sales Commission Lien Act?
• Which set of duties best matches the trio summarized as DAD for licensees?
• Which factors determine whether registration is required for a real estate location?
• What is the process called that includes evaluating schools, police and fire protection, roads, air quality, and the environment to control and limit the size and type of new developments to ensure adequate public services and quality of life?
• Which positions are considered corporate officers?
• During an investigation, who may issue subpoenas if necessary?
• In mediation, what is the mediator's power regarding decision-making?
• Which statement about general partners in a Real Estate Brokerage Limited Partnership is true?
• A corporation organized under the laws of another country is termed what?
• What term describes a zoning setback that allows a building to be constructed up to the property line with no setback?
• A corporation organized under the laws of another state is called what?
• Which term means something has been removed completely, erased or deleted from a record?
• What discount is offered if property taxes are paid in December?
• Which flood hazard zone is considered a moderate hazard area, with about a 0.2% annual flood chance?
• When must a single agent disclose fiduciary duties in writing to the principal using the Single Agent Notice?
• Fraudulent activity whereby a broker violates their duties to the principal; any action that puts the broker's self-interest ahead of the principal's interests, acting in excess of authority, or misappropriating funds entrusted to the broker by the principal.
• A complaint that alleges a violation of law or rule and contains sufficient supporting evidence is called what?
• BRDA requires the use of which to specify each brokerage relationship in residential transactions?
• If membership in an HOA is required and the sales contract does not include HOA disclosure, the buyer may void the contract within how many days?
• A disclosure that must be given by a licensee who does not represent a buyer or seller before entering into an agreement or showing a property is called:
• In the Condo Resale escrow disbursement exemption, when may the broker refund the deposit to the buyer without notifying the commission?
• The 100% exemption includes which of the following conditions?
• How long do the details of the investigation and probable cause panel remain confidential?
• Which term refers to termination of a contract due to lapse of time when no deadline is set?
• Which disciplinary action is typically considered a reprimand?
• Security deposits and advance rents may be commingled with which funds?
• The first 25K exemption applies to how many property taxes?
• Tax exemptions are defined as what?
• What happens if a sales associate does not complete post-license renewal requirements before expiration?
• Under the Florida listing agreement, when is the broker entitled to compensation if a ready, willing, and able buyer meets seller's requirements?
• Which statement best describes the Election of Rights form?
• Which law is based on written statutes enacted by government and enforced by criminal courts?
• Which term describes the time limit to sue on a contract?
• Conduct considered contrary to standards of justice, honesty, or good morals.
• Which category is exempt from Florida real estate licensure?
• Who issues Notice of Noncompliance?
• Which part number corresponds to the Commercial Real Estate Sales Commission Lien Act?
• Which description defines a sole proprietorship?
• Which party receives rights in a contract assignment?
• Background study that examines the existing system of streets, highways, and traffic patterns to determine the future arterial needs is called:
• How many hours are required for post-license renewal for a sales associate?
• What term describes a planned neutral space between two different zoning categories or properties?
• What is the minimum notice period for repairs?
• Quasi-judicial powers of the Florida Real Estate Commission involve what process?
• What term describes both parties performing as agreed and fulfilling contractual obligations?
• After a summary suspension is issued, which body must take follow-up action?
• Which statement best describes the knowledge required of an agricultural licensee?
• Which Florida act defines the rights of landlords and tenants in both residential and nonresidential relationships?
• Which term describes the document that is issued to authorize construction or renovation before work begins?
• What term describes the extent to which land may be developed or used, including the use of space above, on, or below ground?
• The primary purpose of Florida's Homestead protection is to...
• Which term refers to cancellation by a legally entitled party?
• What term describes a party failing to meet obligations and the other party seeking relief in court?
• What does the 'Effect a Sale' provision specify regarding the broker's compensation?
• Which type of contract occurs when only one party is bound to perform an act in exchange for the other party's promise or performance?
• Which scenario is an example of a familial status exemption under fair housing law?
• In a general partnership, how are partners' liabilities described?
• Which contract involves promises exchanged by both parties?
• Under Save Our Homes portability when the new homestead is more expensive, how is the assessed value of the new home calculated?
• What is the liability status of a sole proprietorship?
• In real estate, which phase describes a contract where terms remain to be performed between signing and closing?
• Which is an example of an exception to the statute of frauds?
• Which powers are described as quasi-legislative powers of the Florida Real Estate Commission?
• What must licensees do when convicted of or plead nolo contendere to a crime?
• The life of a tax certificate is how many years?
• Which statement describes the relationship between an 'as is' clause and seller liability?
• What is the term for the process whereby parties acknowledge a contract before an officer?
• Which is the initial phase of the development and construction sequence?
• Which statement best describes mutual recognition requirements in Florida real estate licensing?
• When a licensee provides rental list info to a tenant for a fee, how long does a tenant have to request a refund?
• How long must a licensee correct a violation after receiving a Notice of Noncompliance?
• If a branch location closes and reopens within the same 2-year license period, what is the process to obtain a license again?
• How long does a property owner have to redeem a tax certificate?
• Which words are prohibited in Team/Group names?
• Which office provides legal advice to the DBPR, FREC, and DRE in Florida?
• What must the broker maintain at least monthly regarding team/group members?
• What does the Commercial Real Estate Sales Commission Lien Act provide in a commercial sale?
• How many business days does a tenant have to respond to an eviction summons?
• Which activity is beyond the scope of a real estate license and could be considered practicing law?
• When is a broker employed to find a purchaser entitled to compensation?
• Which agency administers standards and processes to ensure that comprehensive plans are financially feasible and that the plans provide the infrastructure needed to support development?
• Which term describes a request to depart from the use as provided for by zoning ordinance?
• The 10% non-homestead assessment cap applies to which types of property?
• Who can legally earn a commission?
• When/where are FREC meetings held?
• Which party is the one who grants rights in a contract assignment, and remains responsible for performance as originally agreed?
• Which term best describes misstatement or omission of facts that is intentional and relied upon?
• If a licensee provides inaccurate rental information, which agency can discipline the license besides criminal penalties?
• Which penalty might result in imprisonment up to 5 years?
• What term describes a broker who holds a license but works under the supervision of another broker?
• To prevent an ostensible partnership, when two brokers share office space, which of the following must be true?
• What is the overall plan for a city or county, the purpose of which is to ensure growth is consistent with an overall concept; must remain flexible?
• Which act, passed by Congress in the '80s, addresses appraisals in Title XI?
• In real estate contracts, what is the term for the interest held by a buyer before closing that obligates the seller to maintain the property in its current condition?
• If the buyer defaults, who is entitled to escrow funds?
• The secretary of the department can order a summary / emergency suspension when a complaint____
• Which actions constitute a F.S. 475 Third-Degree Felony violation?
• What is the minimum passing score on the 40-question law exam in Florida pre-licensing requirements?
• Which of the following describes damages awarded to punish the defendant beyond compensation?
• Which disclosure relates to the presence of a hazardous gas in a property?
• Which Florida case established that a seller has a duty to disclose material defects to the buyer?
• The Division of Real Estate serves as intermediary between FREC and DBPR and handles day-to-day regulation. It is part of which department?
• Which of the following is prohibited by the landlord regarding tenant treatment?
• What must the corporate name include?
• How long do parties have to file exceptions to a recommended order?
• A business owned by stockholders that is not personally liable for its debts is called:
• Providing inaccurate information about rental property is punishable as what?
• Subdivision map submitted by a developer for approval by the local planning agency and review by the governing body is called:
• In what year was the Florida Real Estate Commission established?
• What must be reported to FREC within 10 days after a change of employer?
• Which zoning category is based on intensity and must consider control of pollutants, air emissions, wastewater, and similar factors?
• The lender that provides funds for loans secured by real estate and also manages and reviews the credit and financial information, the property, and the loan application process.
• Equitable title is the interest held by which party?
• How, and to whom, are complaints submitted?
• How long should a licensee retain disclosure documents?
• What is mortgage debt incurred to acquire, construct, or substantially improve a primary or secondary residence called?
• What role does the DRE investigator play in the disciplinary process?
• Where does the local planning agency have authority?
• As of 2018, taxpayers can deduct mortgage interest for up to ______ of acquisition indebtedness?
• Which area describes the knowledge required of an industrial licensee?
• Penalty for fraudulent activity.
• An illegal ad that doesn't contain the registered or trade name of the broker, or for which there is doubt that the ad is that of a real estate broker is called:
• Unlicensed subpoena response
• Which zoning concept describes using zoning to prevent low-income or minority land users from buying real estate in certain areas?
• The Commercial Real Estate Leasing Commission Lien Act allows a broker who has earned a commission to place a lien on what?
• Which document describes the effects a proposed activity may have on the environment?
• Which term refers to the subdivision map filed to show parcel boundaries within a subdivision?
• Which of the following is not one of the three areas of expertise of a real estate professional?
• Is the net listing concept generally accepted in Florida real estate practice?
• Stipulation characteristics
• What remedies can a principal pursue against a licensee who is an SA for fiduciary violations?
• Which describes Florida residency for license purposes?
• After failing the end-of-course exam, how long must you wait to retest without retaking the entire course?
• What is the outcome of arbitration?
• The right to purchase property at a set price within a defined period, without obligation to buy, is known as what?
• Where are the offices of the Department located?
• A broker's uncertainty as to which party should receive the escrowed property is called?
• Money pledged by a buyer to show good faith when making an offer to buy a home serves what purpose?
• Which zoning category applies to government-owned land such as schools, courthouses, parks, and other public facilities?
• An artificial person created by law is commonly known as which term?
• The body of law created by administrative agencies to carry out duties and responsibilities is known as?
• What is a millage rate?
• What are the qualifications for the five licensed members of FREC?
• The Additional (2nd) exemption for values 50K–75K applies to which taxes?
• When is the assessment date for TRIM notices?
• The Division's role in these disciplinary procedures includes which of the following?
• Which entity is an organization formed for real estate investment, typically as a limited partnership, where licensees may list property owned by the partnership but not interests in the partnership?
• What is the exemption amount for blind people?
• Which act protects private property rights and addresses land use restrictions enacted after 1995?
• If a broker fails to implement one of the settlement procedures within the allowed time frame, what will they be charged with?
• What is the time limit to file administrative complaints with FREC?
• How long is a real estate school permit valid?
• Misstatement or omission of facts — can lead to fraud if statements are intentional and relied upon.
• Instrument containing findings and conclusions submitted to FREC
• Which statement about team/group advertising is true?
• What does the term construction refer to in contract law?
• Which trust form is also known as a Massachusetts Trust?
• Which statement describes a real estate advertisement on the internet?
• Penalty for failure to timely submit Criminal Self-Reporting Document?
• The FBPR was created to regulate professionals in the most cost-efficient manner to maximize what?
• Greenbelt laws are best described as which of the following?
• In Florida, 1 mill equals which of the following?
• What term refers to the worth of a business, including real estate, income, assets, goodwill, and earning capacity?
• What is The Division's role in Administrative penalties?
• Under emergencies, is the landlord allowed to enter the premises to preserve them?
• When does the final order become effective?
• What is the purpose of a letter of guidance?
• Which term denotes any circumstances accompanying the violation that add to the injury, and that may justify a harsher penalty?
• A transfer of ownership of streets and sidewalks to give the public the right of use—typically conveyed by a developer to the city or county upon completion of construction of a subdivision.
• Which of the following statements accurately describes an exemption from Florida real estate licensure?
• Filing for homestead exemption requires filing with the county property appraiser between January 1 and March 1; property must be the owner's primary residence.
• Which listing type guarantees the broker a commission regardless of who sells the property?
• Under FIRPTA, withholding rates are 10% for amounts between $300k and $1M and 15% above $1M. Which statement matches?
• What does the Homestead tax exemption do?
• What is the initial continuing education requirement before first license expiration?
• What term describes damages awarded by a court that were not pre-agreed in the contract?
• Optionor: property owner who gives the right in an option contract - the only party who is obligated either to do or not do something.
• FREC term of office
• Who can be a partner in a real estate brokerage partnership?
• Formal hearing description
• What are the options for resolving commission disputes?
• If an application is denied due to a minor error, what is the typical next step?
• Which real estate profession involves analyzing existing or potential projects and providing expert advice based on personal judgement, requiring the most knowledge and experience?
• Under Florida requirements for unsolicited phone calls, licensees may contact an owner on the Do Not Call List if representing a buyer interested in the property, provided they do not use the showing to obtain a listing.
• What qualifies as a residence?
• Which statement best describes a Business trust / common law trust / Massachusetts Trust?
• Which term is also known as the recorded plat?
• Informal hearings characteristics
• Which flood zone is associated with a 1% annual chance of flooding?
• Where is a declaration of trust filed?
• Which term best describes misstatement or omission of facts that is intentional and relied upon?
• How long does a licensee's broker have to provide the seller's broker with an escrow deposit receipt after making a written request to the title company or attorney?
• Which statement describes the No Brokerage Relationship in Florida?
• What is the biggest benefit of incorporating for stockholders?
• In a joint venture, which statement about liability is accurate?
• Phase III describes the remediation plan if contaminants are found during Phase II.
• Assessed (Just) Value is defined as what?
• What term describes a contract in which rights are sold, transferred, or subrogated?
• Which option correctly identifies the Phase III ESA deliverable?
• Which term best describes the process of ending a corporation's legal existence?
• What must the investigator's report to the Division not contain?
• Under a 'Find a Purchaser' provision, when is the broker entitled to compensation?
• To make a real estate sales commercial lien enforceable, which steps are required?
• Which organization handles disciplinary action for illegal commissions?
• What term describes a partnership created when two or more parties act in a way that misleads others into believing a partnership exists?
• Exemptions affect tax liability by reducing which value?
• Which type of agent has continuing authority to act for the principal, but within a specific trade or business; sales associates and broker associates are general agents?
• Which entity handles investigations and disciplinary proceedings against licensees?
• What are the filing requirements for a corporation?
• Which body administers oaths, takes depositions, issues subpoenas, and adopts rules concerning violations that may be submitted for mediation?
• Which contract can be canceled by one or both parties due to issues like misrepresentation, coercion, or lack of capacity?
• Which statement describes the knowledge required of a commercial licensee?
• Which listing type allows the owner to personally sell the property and avoid paying a commission to the listing broker?
• If a limited partner has an active real estate license, what may they do for the partnership?
• The background study that provides the estimate of growth in the number of households is part of which study?
• What event marks the formation of a contract when an offer is accepted?
• The life span of a corporation can be set as a finite period or perpetual. Which option best reflects this?
• What term describes inducing a homeowner to sell or list a property because the neighborhood is deteriorating or transitioning due to an influx of minorities?
• Which amount is the additional exemption?
• Which study identifies growth patterns and trends by examining how land is currently developed and used to determine the best future use of parcels in the path of growth?
• What describes legal permission to continue a nonconforming use?
• What term describes the liability protection that insulates corporate officers from personal liability?
• Which flood hazard zone is described as a minimal flood hazard area?
• Which term describes the ongoing nonconformity of a use that existed before a zoning ordinance change?
• Can Realtors call FSBO owners on the Florida Do Not Call List to solicit a listing if they are not on the Federal Do Not Call List?
• Phase III ESA describes remediation planning if contaminants are found during Phase II.
• Which concept describes the legal permission to continue a nonconforming use after a zoning change?
• What is the Division's next step after a complaint is deemed legally sufficient?
• Which statement best describes when a CAM license is required?
• Who is obligated to repay the money used from the Recovery Fund when a licensee's claim is paid?
• Who is responsible for eviction fees?
• What are the filing requirements for a limited partnership?
• Which term describes businesses that draw purchasing power into the area from outside the community, such as exporting goods?
• Which statement best defines procuring cause in real estate brokerage?
• A form of advertising designed to create an image in the market for a brand/product, rather than sell a particular product, is called:
• In case of escrow dispute/good-faith doubt, within how many business days must the broker notify FREC?
• The Commission's legal authority for investigations and hearings is provided by which Florida Statute?
• Which of the following represents the continuing education requirement before the first license expiration in Florida?
• Which term describes the public transfer of streets to a city after subdivision completion?
• For a brokerage partnership or corporation, which sign requirements are correct?
• A broker cannot represent both the buyer and the seller as a single agent in the same transaction; to assist both parties, the brokerage relationship must change, and this is the only brokerage relationship form that must be signed.
• What is required about advertising to avoid confusion regarding a team/group?
• What is an alien corporation?
• Which board is defined in relation to Florida real estate appraisal matters?
• Which entity receives the recommendation from the legal section of the Division regarding prosecution in an investigation?
• What term refers to the act of placing and keeping on record the name and address of an individual or business in real estate regulation?
• When do FREC rules become effective after filing with the Secretary of State?
• Which zoning category addresses the height and land coverage of structures?
• Exemptions for un-remarried widows & widowers
• If a partnership helps others buy and sell real estate, what must be registered with the DBPR?
• What are the Florida real estate license qualifications?
• Which entity holds public meetings and must have at least one member from the school district, appointed by the school board, with the primary function of developing the comprehensive plan and making recommendations on its adoption and amendments?
• In broker practice, a space used for protection for sales associates and customers that is not considered a branch office unless transactions are closed or sales associates permanently assigned is called:
• Which describes the filing requirements for a Florida LLP?
• What happens when the Recovery Fund balance reaches $1,000,000?
• Writ of mandamus is a court order directing FREC to reinstate the licensee when an appeal reverses the final order.
• The document that shows the assessed value, taxes paid last year, taxes with no budget change, and taxes with proposed changes is called what?
• Under the Interstate Land Sales Full Disclosure Act, developers of 25+ lots must provide a disclosure report to purchasers before signing a contract. The report includes which elements?
• Which statement describes knowledge required of a business opportunity licensee?
• Which document is issued by a local government when work has been completed and final inspections passed?
• Fraudulent activity whereby a broker fails to disclose information to a party to whom the broker has such a duty, and that is material to their decision. (broker must disclose any fact, report, or rumor to the principal, and must do the same for customer if he knows customer is ignorant of a fact)
• Which designation is associated with the provision that defines the Florida Real Estate Commission as 61J2-FREC?
• Which statement best describes when parties act in their own best interest rather than the other party's during a real estate transaction?
• Which group comprises the individuals appointed by the board to manage day-to-day operations?
• Which term refers to the set of rules that establish the minimum standards for the design and construction of buildings and structures?
• Civil actions for broker misconduct may be brought against which licensees?
• Which entity is a temporary business that involves a single transaction or a predetermined number of transactions, can be formed orally or in writing, and requires no filing?
• Who is responsible for advertising content?
• When is a location considered a branch office for registration?
• What is the maximum capital gains exclusion for a married couple filing jointly on the sale of a primary residence?
• Before the broker achieves the single agency relationship, who is the party to whom the broker attempts to achieve employment?
• Regarding subsequent offenses, what is true about penalties for failing to timely submit the Criminal Self-Reporting Document?
• Which Florida Statute Part defines the Florida Real Estate Commission in relation to brokers, sales associates, and schools?
• For violations of law or rules, what is the maximum amount per offense that FREC may impose?
• What describes the executive powers of the Florida Real Estate Commission?
• Background study in which soil types and load-bearing capacity of the land are studied, so planners can help assure the highest and best use of land can be achieved is called:
• What term describes the area in which a real estate professional concentrates their efforts?
• Which proceeding is used after the first two protest steps fail and before any further appeals?
• Which penalty is associated with a Second-Degree Misdemeanor violation?
• A joint venture of real estate brokers can provide brokerage services without DBPR registration if: