State Exam

In a telephone conversation, Sandra made an offer to purchase a property from David, which he accepted. Before a written contract could be delivered for David's signature, another buyer made a higher offer. Which of the following statements is correct?

What does the registration of an active sales associate with the department refer to?

Which business structure may be registered to broker real estate?

Cynthia an appraiser tells the owner Elizabeth that the value of her house would increase 5,000 if the exterior paint were painted. Elizabeth contacts Gary the painter about having the house painted and is told it will cost 3,000.

Which concept applies to the value of businesses that are operational in a profitable capacity?

Kaitlin is a licensed real estate broker in Georgia, which has a mutual recognition agreement with Florida. She wishes to obtain a Florida real estate broker license. Which statement is incorrect?

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 within how many days?

How is investment value best defined?

What term refers to the action taken by the federal reserve bank to influence the availability and cost of money?

Which of the following statements regarding exempt and immune property is correct?

All of the following are required elements of a valid deed, but:

When appraising a vacant lot the appraiser's final decision would be which of the following appraches?

Carl defaulted his home loan and the lender foreclosed. The lender may go to court to obtain...

A potential purchaser of a new timeshare can cancel the contract without penalty within how many days?

James leases a space. An agreement whereby James transfers all of the leased space for all of the remaining time under that lease would be called what?

When a mortgage loan is paid off in a title theory state, the borrower recieves...

The use of a property with the owners consent without a definite duration would be what type of tenancy?

Liens may be specific to one property or be general in nature and apply to any property the person may own. Which of the following liens is a general lien?

Which of the following statements accurately describes an FHA 203b loan?

Two rations borrowers must qualify to receive FHA loans

Offers may be terminated by all of the following but:

The subject property for appraisal is a 20 year single family

Which of the following best describes a DBPR investigator's roles and responsibilities?