Real Estate
Real Estate Knowledge Quiz
Test your knowledge of real estate principles and practices with our comprehensive quiz designed to challenge your understanding. Whether you are a professional or just starting out, this quiz offers valuable insights.
- 43 questions covering various real estate topics
- Multiple-choice format for ease of answering
- Immediate feedback on your performance!
How do we define Static risk?
Is risk that can be offset with insurance, such as fire, flood robbery and so on.
not risk at all
Risk that can be offset with insurance, such as fire only
What is going concern value?
It gives higher value
It brings low value
When the value of assets is COMBINED
What is the basis for the principle of substitution?
An informed buyer will pay no more for a property than the cost of acquiring another equally desirable property with the same or equal utilitity
A broker will switch houses
A buyer will pay a lot for a property
N a general partnership, each partner does NOT have?
Equal shares of the profits of the partnership
Management styles
Split the profit
What is the Opposite of N20 W?
E20 s
S20 E
N20 W
What is a tenancy of sufferance?
6 miles
8 miles
6 miles square
The Southwest corner of section 31 T1N, R4E is how many miles from Tallahassee?
24 miles
6 miles
18 miles
Shares of a real property will a widow with no children receive at her spouses death in the absence of a will?
Half
Most of it
ALL
Broker Brown lists Mr. Smits property for $20,0000
Broker Brown license will be revoked
Broker brown license may be suspended for not telling Mr. Smith
Broker Brown should get a commission
A seller lists a property at $75,000 but the broker they will go as low as $72,000.
The broker cannot tell the buyer of the lower price.
The broker should tell the buyer
The broker is committing fraud
A fiduciary relationship is one of
Trust and confidence when accepted
Trust and confidence
Friendship
A seller listed their property at a price that the broker knew was below market value
Cuplable negligence
Fraud
Concealment & Fraud
Can a broker be entitled to two commissions when consummating an exchange?
Yes
No
Yes, Providing both parties are advised and approved
In real estate transaction what type of relationship can a buyer and seller expect to have?
Close relationship
Arms length relationship
Business relationship
An Illinois Corporation is transferring its employees to Florida
Expect to receive a referral fee
They will be compensated commission
They will receive a thank you note
The Florida Real Estate Commission may do all of the following but not
Analyze escrow accounts
Impose fines
Impose imprisonment as a penalty
Which step follows the investigation in the complaint process?
File a report
Probable cause determination
Pay $5,000
Complete the sentence. If a licensee does not dispute a citation it has the same effect as a
Final Order
Court Date
Fine
The fair housing act of 1968 (as amended) prohibits discriminations based upon
Race, color, religion, sex, national origin
Race, Color, Religion, Sex, National Origin, family status, handicap
Race, color, religion, sex,
A licensee Picks the properties a particular buyer is shown based on the race of the buyer. What is this illegal act?
Steering
Block Busting
Red Lining
Broker Bill quotes lower rents and deposits to females because they cause less trouble than males. This is a..
Violation of the fair housing act of 1968
Violation of F.S 475
Must notify the FREC
Which is correct according to the Florida Residential Landlord and Tenant Act?
Landlord must inform tenant within 30 days how the deposit is being held
Landlords must how deposit in their personal accounts
Landlords must notify courts
How is the right to occupy a cooperative evidenced?
Executive
Proprietary lease
Promissory note
Which clause in a deed states that the granter was in possession and has the right to sell the property?
General warranty
Quitclaim deed
Seisin
What term refers to the power that the government has to take land for the public good?
Joint Venuture
Eminent Domain
Sesin
What is an actual notice?
Possession of the property that can be seen and heard.
Personal property
A filed document in court
A deed MUST BE..
Signed
Signed and witnessed
Witnessed
The ownership of a property actually transfers from the grantor to the grantee when the deed is...
Delivered and accepted
Signed
Witnessed
How is a quitclaim deed most often used?
As a way to clear clouds on title
First time mortage
File a claim to insurance
Purpose of title search?
Prove ownership
Run a chain of title
For the buyer
What is a title
Ownership rights
Deed rights
Buyers rights
Private restrictions are enforced by private citizens. Which of the following is the strongest control they have over a property owner?
Title coverage
Deed restrictions
Nothing
Which deed contains no warrants or promises?
Quitclaim deed
No deed
General warranty
The requirements for obtaining a FL real estate license include everything BUT
HIGH SCHOOL OR GED
Being a FL resident
Mary was hired to lease and sell AAA's property; she is compensated by a salary. Statement that is correct?
No violation to FS 475
Violated FS 475
VIOLATED FREC
An owner of a service station who holds an inactive sales associates license is being appointed by the court to appraise
May be compensated for their work
May receive a commission
May get paid a referral fee
What must a sales associate do to be eligible to take the brokers exam?
Work for an employer for 24 months within 5 years
Work for a broker for 1 year
Wait for 5 years
Which action would cause an applicant's request for license to be denied without prejudice?
Omitting one or more answers to questions on the application
Not applying
Committing crimes
George portfolio is a stockbroker
Violated FS 475
Did nothing wrong
Broker Jones takes a listing on a condominium
The broker could be disciplined for concealment
License suspended
Two brokers sharing space. It is presumed they are partners
Joint venture
General partnership
Quasi-partnership
Both buyer and seller make claims on the escrow money held by the broker... They must notify FREC in
10 days
5 days
15 days
When a buyer withdraws an offer prior to it being accepted by the seller. What should the broker do?
Keep the money
Notify FREC
Give the deposit back to the buyer
Withhold the deposit
{"name":"Real Estate", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge of real estate principles and practices with our comprehensive quiz designed to challenge your understanding. Whether you are a professional or just starting out, this quiz offers valuable insights.43 questions covering various real estate topicsMultiple-choice format for ease of answeringImmediate feedback on your performance!","img":"https:/images/course8.png"}