State Exam
Florida Real Estate State Exam Quiz
Prepare yourself for the Florida Real Estate State Exam with this comprehensive quiz. Test your knowledge on various aspects of real estate including appraisal methods, property management, and legal guidelines.
- 39 Multiple Choice Questions
- Covers key topics essential for the state exam
- Improve your understanding of real estate laws and practices
When appraising a vacant lot, the appraisal approach carrying the most weight in the appraiser's final decision would be which of the following approaches?
Land residual approach
Cost-depreciation approach
Sales comparision approach
Income capitalization approach
A widow found that her deceased spouse left the entire estate, other than the homestead, to their fishing friends. What can she do?
File for an elective share of 30% of all real and personal property owned by her deceased husband in Florida
File for 100% o his property under Florida Community Property Law
When a sales contract feel apart, both parties made a claim on the escrow deposit. The broker followed the required procedure and was eventually issued an escrow disbursement order from FREC
The recovery fund will cover the judgement and the broker will not be disciplined.
The broker is personally responsible for the judgement
The court does not have the authority to override an escrow disbursement order from FREC
Clifford is a developer and he wishes to build a shopping center. In order to build it he must combine 5 smaller pieces of land into one large lot. What is this process know as?
Plottage
Leverage
Assemblage
Nonconforming use
The homes in the neighborhood where Peter lives are in the $90,000 range. If he decides to install expensive tile roofing on his home, what would this most likely be considered?
Incurable functional obsolescence
Incurable physical deterioation
Curable functional obsolescence
Curable physical deterioration
The pledge of property as security for a loan without delivering a title is called what?
Hypothecation
Assumption
Novation
What clause in a deed reserves a right in the title?
Reddendum Clause
Habendum Clause
Premises Clause
Granting Clause
The Florida Real Estate Commission duties include all of the following EXCEPT:
Establishing licensing fees
Make determination of violations
Pass rules to implement the license law
Impose imprisonment as a penalty
What is the difference between an open listing and an exclusive agency listing?
An open listing allows the owner to sell the property; an exclusive agency listing allows only the listing broker to sell the property.
An open listing allows the owner to list the property with multiple brokers; an exclusive listing limits the owner to listing with only one broker.
All of the following are remedies for a breach of contract, EXCEPT
Suit for cancellation
Suit for damages
Suit for declaratory judgement
Suit for specific performance
If a comparable property is inferior in lot size, what would be the appropriate adjustment?
Adjust the subject property up
Adjust the comparable property up
Adjust the comparable property down
A broker working as a property manager for a landlord would most likely be working as what type of agent?
General agent
Special Agent
Specific agent
Which of the following remedies for a breach of contract ask the court to keep the contract in force?
Suit for declaratory judgement
Suit for damages
Suit for specific performance
In the cost-depreciation approach to value, all of the following cost estimating methods are available to help estimate the building repoduction cost except:
Replacement cost method
Unit in place method
Quantity survey method
Which of the following would be be immune from real property
A church property
A homestead property
A country Storage facility
What would be the effect if the Federal reserve board decided to purchase government securities in the open market?
The money supply will increase and interest rates will decrease
A tight money market will be created
The money supply will decrease and interest rates will increase
Using the metes and bounds method of legal description, the opposite if N 10 W would be where?
S 10 E
N 10 E
S 80 W
E 80W
When property taxes paid in arrears are prorated, how much is the amount entered on the settlement accout?
Credit to seller
Debit to seller
Debited to the seller
Debited to the seller and credited to the buyer
All of the following are tax benefits of homeownership except
Deduction of property tax
Deduction of mortgage principal amount paid
A broker has requested an escrow disbursement order and while waiting for a response from the FREC the buyer and seller reach an agreement to split the deposit. The broker must notify FREC in how many days?
15 days
5 days
20 days
10 days
What type of notice is considered to be the best proof of ownership
Actual
Constructive
Implied
Expressed
What is the most drastic way for the federal reserve to influence the supply of money?
Change discount rate
Monetary policy
Change reserve requirements
Prior to the signing of a real estate sales contract or rental agreement what does the Florida legislature require
The ethnic composition of the neighborhood must be disclosed
A definition of radon gas must be disclosed.
Lee is a new broker. What licensing renewal requirement must he complete next?
60 hours post-license education before his first renewal deadline
14 hours of continued ed before first renewal
A house in which the dining room is not close to the kitchen has poor traffic pattern
Economic obsolencense
Functional Obsolescence
Who passes a new rule
Executive
Quasi-legislative
Ministerial
What is true regarding flood hazard Zone V
Flood insurance is required
The structure must be on elevated construction
If tony gives his farm to tom who is responsible to the upkeep of the property
Tony
Tom
Which does not include legal title to real property
Tenancy for years
Life estate
Fee simple estate
Tenancy by the entireties
Elizabet got a job selling cemetery lots for the Shady Pines Cemetary on commission.
She does not need to be licensed nor is it a violation
She need a real estate license
She is in violation of FS 475
Insurance premiums required for an FHA insured loan is referred to as
PMI
MIP
CMA
DRI
What clause in a deed states the interest that is being conveyed?
Reddendum
Release
Seisin
Habendum
What clause in a mortgage allows a part of multiple properties to be removed from the security on a loan as the balance comes down on a blanket mortgage?
Exculpatory Clause
Release Clause
Alienation Clause
Acceleration Clause
The right of a utility company to place power lines and poles on a private property would be what type of easement?
By necessity
By prescription
In gross
By attachment
When the federal reserve wished to decrease the supply of loanable funds they would do which of the following?
Buy government securities
Decrease the reserve requirement
Increase the discount rate
Increase the rate on government securities
In residential real estate, one of the factors of supply would be which of the following?
Cost
Price
Credit
Income
What is the type of lien that may be retroactive to a date earlier than the date of filing, thus taking priority over other liens?
Construction lien
Judgement lien
Vendor lien
IRS lien
All of the following may terminate an offer in a real estate transaction: EXCEPT
Death of the offeror
Receipt of a counteroffer
Failure to obtain a binder deposit
All of the following provide control of agency relationships in real estate EXCEPT:
The Department of financial services
Common law
F.S. 475
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