20 Free Florida Real Estate Practice Questions

Question 1

Which of the following persons is exempt from Florida real estate licensure?

Question 2

A sales associate forgot to renew, and her license has now been involuntary inactive for 16 months. What must she do to reactivate it?

Question 3

A Florida sales associate begins helping a buyer find a home. No written single agent notice or no brokerage relationship notice has been given. Under Florida law, the sales associate is presumed to be operating as a

Question 4

A licensee is working as a transaction broker for both the buyer and the seller of a home. The seller privately tells the licensee two things and asks that both be kept confidential: the roof leaks during heavy rain (which is not readily observable), and the seller would accept less than the asking price. What must the licensee do?

Question 5

A sales associate receives a buyer's escrow deposit on Monday. There are no holidays that week. By the end of which day must the deposit be placed in the broker's escrow account?

Question 6

A broker is holding an escrow deposit when the buyer and seller each make conflicting demands for it. The broker must notify FREC in writing within how many business days after the last party's demand?

Question 7

Three buyers obtain uncollectible final judgments against the same licensee, all arising from a single transaction, for a combined total of $120,000. What is the most the Florida Real Estate Recovery Fund will pay for this transaction?

Question 8

A licensee contacts homeowners and urges them to sell soon, claiming that people of a particular national origin are moving into the neighborhood. This illegal practice is called

Question 9

Two business partners want to own a Florida property as joint tenants so that the survivor automatically gets the whole property. What is required for their joint tenancy to carry a right of survivorship?

Question 10

Which of the following is required for a Florida deed to be valid?

Question 11

How many acres are in the S 1/2 of the NW 1/4 of the SE 1/4 of a section?

Question 12

A buyer offers to purchase a home with closing on June 1. The seller crosses out the closing date, writes in June 15, initials the change and signs. What is the legal effect?

Question 13

A buyer and seller sign a contract for the sale of a home. Before closing, the buyer dies. What happens to the sales contract?

Question 14

A buyer agrees to pay $300,000 for a home that appraises for $290,000. The lender will lend 90% loan-to-value. How much must the buyer pay as a down payment?

Question 15

Florida is a lien theory state. This means that when a homeowner gives a mortgage,

Question 16

Which statement best describes the role of the FHA in residential financing?

Question 17

A home in Orange County, Florida (not Miami-Dade County) sells for $287,450. How much is the documentary stamp tax on the deed?

Question 18

An appraiser is valuing a home without a pool. A comparable home that sold for $310,000 has a pool that adds $15,000 in value. What is the comparable's adjusted sale price?

Question 19

A Florida homestead is assessed at $350,000. School millage is 6.5 mills and non-school millage is 12 mills. Using a $25,000 homestead exemption for all levies plus an additional $25,000 exemption for non-school levies, what is the total property tax?

Question 20

An owner's lot has an unusual shape, so a reasonably sized home cannot meet the required side setback. To build closer to the lot line than the zoning ordinance allows, the owner should request a