PRACTICE QUESTIONS FOR STATE

When the value of a business tangible assets is substracted from its purchase price, the amount remaining represents the:

An independent special district authorized by statute to issue bonds to raise funds to construct infrastructure for a residential development is referred to as a

A real estate licensee who is representing a tenant is a commercial rental wants to share part of her commission with the tenant. Which statement is TRUE regarding this situation?

[STATE] Which number of estate in real property is held for a definite number of years?

In the government survey system of legal descriptions, a township measures:

An apartment building consist of 430 units. The complex is 90% occupied. How many units are vacant?

In Dade County, Florida, a tenant leased a two-bedroom, single-family home from the landlord in June for a one-year period. In November, the tenant told the landlord that she had no source of heat and requested he install a heater. The landlord said he would install the heater, but it would result in a rental increase of $50 per month. Which statement is correct?

[STATE] Listing agreements do NOT have which requirement?

The "highest and best use as though vacant" is considered to be the use that will result in the greatest amount and longest duration of net income that accrues to the:

A seller has listed his property with a real estate company. The seller has informed the sales associate that he will not sell his condominium to college students. Which statement is TRUE regarding this situation?

[STATE] A real estate company employs a receptionist. A buyer comes into the office and hands the receptionist an earnest money deposit on Wednesday (no legal holidays involved). Which statement applies to this situation?

[STATE] A broker's principal is away on vacation. The broker receives an offer of $67,000 for the principal's property. Before the principal return, the broker receives a second offer of $64,000. The broker should:

Which statement is FALSE regarding a temporary real estate license?

[STATE] A buyer gives the broker a 53,500 good-faith deposit. The broker defrauds the buyer of the 53,500. The buyer sues the broker and is awarded a judgment in the amount of $78,500 for the original $53,500 deposit plus $25,000 in punitive damages. The buyer as unable to collect the judgment from the broker, so he requests relief from the Florida Real Estate Recovery Fund. How much can the buyer receive from the Recovery Fund?

A sale associate has earned a commission of $2,400. The broker for whom she works pays her 2,000 and uses the remainder of her commission to pay office expenses with a promise to pay the remaining $400 when he can afford to do so. The broker is guilty of:

[STATE] A community association manager (CAM) license is required to manage which type of property?

The federal law that prohibits a seller from requiring the homebuyer to use a particular title insurance company as a condition of sale is the:

[STATE] A tenant continued to occupy the premises following expiration of the lease. The tenant continued to pay monthly rent to the landlord. The tenant is a:

[STATE] A broker receives conflicting demands from the buyer and seller. The broker properly notifies the FREC and requests an escrow disbursement order (EDO). However, before the order is issued, the buyer and seller sue one another. What must the broker do in this situation?

The purpose of the Save Our Home amendment is to:

The neighbor of a real estate broker referred his sister to the broker. The sister purchased a home costing $250,000. To show his appreciation, the broker may

The appropriate type of brokerage relationship is determined by the:

[STATE] A broker listed a commercial lot for $98,000. Later, the broker learned that a firm that owned the building adjoining the seller's lot was going to need the lot for expansion and would be willing to pay up to $130,000 for the lot. The broker told the seller that she wanted to terminate her brokerage relationship and buy the lot herself for $96,000 cash. The seller agreed to the offer and sold the lot to the broker, who them sold the lot to the neighboring firm. This is an example of:

What is the maximum allowable homestead exemption for a widow who is a veteran with a 25% disability due to service-connected injuries?

A contract for the sale and purchase of a property fails to close. Both the buyer and the seller make demands that they are entitled to receive the earnest money-deposit. The matter is to be resolved in a court of law. The broker is not making a claim to receive any of the funds. Which court procedure is appropriate in this situation?