Florida Real Estate Practice Exam – 2025 Edition

Florida Real Estate Practice Exam – 300 Questions – 2025 Edition

Welcome to your full-length 2025 Florida Real Estate Practice Exam. This test includes 25 questions based on official guidelines from FREC, DBPR, and Pearson VUE. Select the best answer for each question and review your performance at the end.

Florida 2025 Real Estate Examination Automated 2025 Florida Real Estate Sales Associate Examination Automated

Test your readiness for the 2025 Florida Real Estate Sales Associate Exam with this full-length, automated practice test. Featuring 300 challenging questions—20% tougher than the actual exam—this simulation mirrors the real testing experience with randomized questions, scoring, and instant feedback. All questions are updated for 2025 and based on official sources: Florida DBPR, FREC, and Pearson VUE.

✅ Covers all exam topics: law, practice, math, agency, contracts, and more
✅ Immediate score display and answer explanations
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Ace your Florida license on the first try—start practicing now!

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Q1. Which of the following actions by a broker would most likely violate the Sherman Antitrust Act?

A. Offering discounted commissions to attract clients

B. Advertising listings without exclusive agreements

C. Agreeing with another broker to set minimum commission rates

D. Charging higher commission for luxury homes

Citation: 15 U.S.C. §§ 1–7 (Sherman Act)

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Q2. Which of the following is NOT one of the duties owed in a no-brokerage (nonrepresentation) relationship?

A. Deal honestly and fairly

B. Disclose all known facts materially affecting value

C. Confidentiality

D. Account for all funds

Citation: Florida Statute § 475.278

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Q3. A broker is entrusted with a $12,000 escrow deposit. How long does the broker have to initiate one of the settlement procedures if a dispute arises?

A. 5 business days

B. 30 business days

C. 10 calendar days

D. Immediately

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Q4. What is the homestead tax exemption in Florida for a qualifying homeowner's primary residence?

A. Flat $50,000 exemption

B. First $25,000 exempt, additional $25,000 on school taxes

C. First $25,000 on all taxes; second $25,000 on non-school taxes

D. $75,000 exemption on all taxes

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Q5. When must a real estate license applicant disclose a personal bankruptcy?

A. Never – it’s not relevant

B. Only if it occurred within the past year

C. Always, if it affects honesty and trustworthiness

D. Only if required during a background check

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Q6. What is the purpose of a defeasance clause in a mortgage contract?

A. Allows acceleration after default

B. Ensures lender retains title until full payment

C. Cancels lender’s interest once loan is repaid

D. Subordinates the lien to another mortgage

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Q7. A developer sells 50 lots in a new subdivision. What law requires them to register the subdivision with the Consumer Financial Protection Bureau (CFPB)?

A. RESPA

B. Interstate Land Sales Full Disclosure Act (ILSA.

C. ECOA

D. Florida Land Sales Act

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Q8. What is the statute of limitations for written real estate contracts in Florida?

A. 2 years

B. 3 years

C. 5 years

D. 7 years

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Q9. Which of the following actions is considered a first-degree misdemeanor under Florida real estate law?

A. Advertising without a license

B. Operating an unregistered branch office

C. Providing false rental listings for a fee

D. Failing to disclose dual agency

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Q10. A sales associate receives a postdated check as an escrow deposit. What must they do?

A. Reject the check

B. Notify their broker immediately

C. Wait until the date on the check before submitting

D. Return it to the buyer

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Q11. What is the legal term for the government's power to take private property for public use?

A. Escheat

B. Eminent domain

C. Police power

D. Condemnation

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Q12. What is the required education for a Florida real estate sales associate to renew a license for the first time?

A. 14-hour CE

B. 45-hour post-license course

C. 60-hour broker course

D. No education required

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Q13. Which approach to value is most appropriate for special-purpose properties like schools or churches?

A. Sales comparison

B. Income approach

C. Cost-depreciation approach

D. Gross rent multiplier

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Q14. A real estate brokerage operates as a limited liability company (LLC). Who must be licensed?

A. Only the managing member

B. All members regardless of role

C. Any member performing real estate services

D. Only the designated office administrator

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Q15. Which disclosure is required when selling a property located within a Florida mandatory HOA?

A. No disclosure required

B. Only if buyer requests documents

C. Disclosure summary must be provided before contract

D. Seller must provide minutes of the last HOA meeting

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Q16. If a broker fails to maintain sign requirements at a branch office, what is the likely penalty?

A. Administrative fine and possible license discipline

B. No consequence unless a complaint is filed

C. Civil penalty only

D. 1st-degree misdemeanor

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Q17. What is the equitable title in real estate?

A. The recorded deed

B. The title held by a lender

C. The right to obtain ownership upon full performance

D. Title transferred at closing

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Q18. In a residential transaction, what brokerage relationship is assumed by default in Florida?

A. No brokerage

B. Single agent

C. Transaction broker

D. Dual agent

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Q19. What is the purpose of the Real Estate Recovery Fund?

A. Pay broker commissions

B. Reimburse public for damages due to licensee misconduct

C. Provide continuing education

D. Fund the DBPR

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Q20. What is the effect of a "wraparound mortgage" in seller financing?

A. It eliminates the original loan

B. It refinances both buyer and seller debts together

C. It creates a junior loan while keeping the original mortgage in place

D. It avoids the need for a deed transfer

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Q21. What must a licensee do when changing their mailing address?

A. Update their driver’s license within 30 days

B. Notify DBPR in writing within 10 days

C. Submit a new license application

D. Notify their broker only

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Q22. Which of the following best defines a tenancy at sufferance?

A. A leasehold created by oral agreement

B. Occupancy after lease expiration without consent

C. Joint tenancy without survivorship

D. Lease renewal pending landlord action

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Q23. What is the maximum fine the FREC may impose per violation?

A. $500

B. $1,000

C. $2,500

D. $5,000

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Q24. Which disclosure is required when selling property built before 1978?

A. Radon gas disclosure

B. Mold contamination disclosure

C. Lead-based paint disclosure

D. Asbestos risk notice

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Q25. In a net lease, which of the following is the tenant usually responsible for?

A. Mortgage interest

B. Property taxes, insurance, and maintenance

C. Income taxes of the landlord

D. Depreciation deductions

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Q26. What type of legal description uses meridians and base lines?

A. Lot and block

B. Metes and bounds

C. Government survey system

D. Informal street address

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Q27. A broker receives conflicting demands over escrow. What must they do within 30 business days?

A. Disburse the funds to the buyer

B. Notify FREC of the dispute

C. Return the deposit to the seller

D. File for small claims court resolution

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Q28. What is the purpose of an appraisal conducted for a federally related transaction?

A. To increase the sale price

B. To determine tax basis

C. To estimate market value for lending risk

D. To replace the buyer’s inspection

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Q29. Which tenancy allows unequal ownership interests and no survivorship?

A. Tenancy in common

B. Joint tenancy

C. Tenancy by the entirety

D. Estate at sufferance

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Q30. What is the function of a real estate investment trust (REIT)?

A. To originate mortgage loans

B. To pool investor funds for real estate projects

C. To regulate land development

D. To provide title insurance policies

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Q31. What happens when a licensee fails to renew a license at the end of its 2-year cycle?

A. The license becomes active by default

B. The license is revoked

C. The license becomes involuntarily inactive

D. The license converts to a referral-only status

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Q32. What is the purpose of a subordination clause in a mortgage?

A. To accelerate payment upon sale

B. To allow second liens to take priority

C. To guarantee interest rates

D. To eliminate foreclosure rights

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Q33. What is the effect of a lis pendens filed on a property?

A. Prevents tax liens from taking effect

B. Warns of pending legal action affecting title

C. Terminates all existing mortgages

D. Transfers title to the court

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Q34. What is the most commonly used deed in residential real estate?

A. Quitclaim deed

B. Special warranty deed

C. General warranty deed

D. Bargain and sale deed

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Q35. What is the minimum number of years of experience required to apply for a Florida broker license?

A. 1 year as a sales associate

B. 2 years in any sales profession

C. 2 years of active real estate licensure in the past 5 years

D. 3 years of education plus exam

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Q36. What is the function of the habendum clause in a deed?

A. States the consideration

B. Describes the legal boundaries

C. Defines the type of estate being granted

D. Transfers personal property

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Q37. What action is FREC authorized to take if a licensee is found guilty of a minor violation for the first time?

A. Immediate suspension of license

B. Revocation of license

C. Issue a notice of noncompliance

D. Order criminal prosecution

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Q38. Which document is used to convey a temporary right to use land?

A. Deed

B. Easement

C. Option contract

D. License

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Q39. What is the primary advantage of FHA loans?

A. No down payment

B. Below-market interest rates

C. Low down payment and lenient qualification

D. No mortgage insurance required

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Q40. What must be included in all Florida real estate contracts involving condominiums?

A. Radon disclosure

B. Lead paint booklet

C. Condominium governance disclosure

D. Construction lien notice

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Q41. What must happen for a valid enforceable contract to exist?

A. It must be in writing and notarized

B. All parties must be competent and agree voluntarily

C. A broker must be present

D. It must be submitted through MLS

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Q42. What is the maximum time a license can remain involuntarily inactive?

A. 1 year

B. 18 months

C. 2 years

D. 3 years

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Q43. Which characteristic applies to real property but not personal property?

A. Tangibility

B. Mobility

C. Permanence of location

D. Ownership rights

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Q44. Which event automatically terminates a single agency relationship?

A. Buyer making an offer

B. Closing of the property

C. License renewal

D. Seller advertising property alone

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Q45. Which of the following activities requires a Florida real estate license?

A. Selling your own property

B. Managing an apartment building as a salaried employee

C. Leasing property for a friend and collecting rent

D. Posting ads for a brokerage as a clerical worker

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Q46. What is the purpose of the Florida Fair Housing Act?

A. Regulate construction materials

B. Control property taxes

C. Prohibit discrimination in housing transactions

D. Govern landlord maintenance rules

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Q47. Who investigates complaints against real estate licensees in Florida?

A. Florida Senate

B. FREC directly

C. Division of Real Estate (DRE)

D. State Attorney General

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Q48. Which party is responsible for disclosing known material defects?

A. The broker

B. The buyer

C. The title company

D. The seller

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Q49. What is required before a real estate license can be issued?

A. Holding a broker license in another state

B. Passing the state exam and submitting fingerprints

C. Being over age 25

D. Sponsorship by a principal broker

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Q50. Which of the following events does NOT terminate an offer?

A. Rejection

B. Counteroffer

C. Acceptance

D. Lapse of time

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Q51. What must a broker do before placing a “For Sale” sign on a property?

A. Obtain zoning clearance

B. Secure written permission from the owner

C. Submit the listing to the MLS

D. Include license number on the sign

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Q52. Which valuation approach is most appropriate for estimating the value of a church?

A. Sales comparison approach

B. Cost-depreciation approach

C. Income approach

D. Gross rent multiplier

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Q53. Which type of agent is authorized to perform a wide range of activities for a client?

A. General agent

B. Special agent

C. Designated agent

D. Transaction broker

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Q54. A property's assessed value is $180,000. It qualifies for a $50,000 homestead exemption. If the mill rate is 20 mills, what is the tax due?

A. $2,600

B. $2,800

C. $3,000

D. $3,400

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Q55. What is the primary function of the Real Estate Recovery Fund?

A. Pay broker commissions

B. Reimburse consumers for damages caused by licensees

C. Fund FREC operations

D. Provide education grants to brokers

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Q56. What is the penalty for a first-degree misdemeanor under Chapter 475?

A. $1,000 fine and 1 year in jail

B. $5,000 fine and 5 years in prison

C. Revocation of license only

D. No penalty applies

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Q57. Which type of depreciation is considered incurable?

A. Physical deterioration

B. Functional obsolescence

C. Economic obsolescence

D. External wear and tear

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Q58. How many hours of post-licensing education are required for Florida sales associates?

A. 24 hours

B. 30 hours

C. 45 hours

D. 60 hours

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Q59. What is the purpose of a due-on-sale clause?

A. Allows early payoff with no penalty

B. Requires seller to finance buyer

C. Triggers full loan repayment if property is sold

D. Prevents foreclosure proceedings

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Q60. What is the maximum number of years a homestead property can be protected from forced sale under Florida law?

A. 5 years

B. 10 years

C. Indefinitely, so long as eligibility continues

D. Until refinance occurs

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Q61. What type of listing agreement allows the seller to avoid paying a commission if they find the buyer themselves?

A. Exclusive right of sale

B. Net listing

C. Open listing

D. Exclusive agency

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Q62. Which appraisal method is most useful for estimating the value of an apartment complex?

A. Cost approach

B. Sales comparison

C. Income approach

D. Gross area method

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Q63. A transaction broker in Florida owes which of the following duties?

A. Full fiduciary loyalty

B. Obedience and advocacy

C. Limited confidentiality and skillful service

D. Undivided loyalty to seller only

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Q64. What happens if a broker fails to complete post-licensing education before their first renewal?

A. The license becomes suspended

B. A late fee is imposed

C. The license becomes null and void

D. The broker is downgraded to associate

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Q65. Which business entity cannot register as a real estate brokerage in Florida?

A. Sole proprietorship

B. Corporation for profit

C. Joint venture

D. Limited liability company

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Q66. What is required on all real estate advertising signs?

A. Broker’s phone number

B. Company name

C. Property owner’s consent

D. Street address of the listing

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Q67. What must be true for a deed to be valid in Florida?

A. It must be notarized and recorded

B. It must be signed and delivered by a competent grantor

C. It must include a lender’s signature

D. It must describe any liens or debts

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Q68. When must a license applicant disclose a prior criminal conviction?

A. Only if it was for a felony

B. Only if it occurred in Florida

C. Always, regardless of state or type

D. Never, unless currently incarcerated

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Q69. A licensee who misrepresents material facts in a transaction could be charged with:

A. Price manipulation

B. Culpable negligence

C. Constructive fraud

D. Blockbusting

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Q70. Who issues real estate licenses in Florida?

A. FREC

B. The state legislature

C. DBPR

D. Department of State

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Q71. What is the legal term for a false statement made with intent to deceive?

A. Negligence

B. Misrepresentation

C. Fraud

D. Puffing

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Q72. Which entity administers the Florida Real Estate Commission?

A. Department of Commerce

B. DBPR

C. State Attorney’s Office

D. Florida Senate

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Q73. Which fiduciary duty survives after a transaction has closed?

A. Obedience

B. Loyalty

C. Confidentiality

D. Full disclosure

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Q74. What is a writ of supersedeas?

A. Court order to postpone judgment enforcement

B. Tax lien recording instrument

C. Landlord eviction notice

D. FREC revocation document

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Q75. Which type of property ownership can only exist between spouses?

A. Tenancy in common

B. Joint tenancy

C. Tenancy by the entirety

D. Fee simple conditional

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Q76. What is the result of a licensee operating with an expired license for more than 2 years?

A. Automatic suspension

B. Involuntary inactive status

C. License becomes null and void

D. Temporary permit issued

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Q77. What is an example of functional obsolescence?

A. Cracked foundation

B. Outdated floor plan

C. Nearby factory odor

D. Economic recession

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Q78. When must a sales associate deliver escrow funds to their broker?

A. Within 72 hours

B. Immediately, meaning no later than the next business day

C. Within 3 calendar days

D. On the same day as contract signing

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Q79. What is the purpose of a blanket mortgage?

A. Used for large personal loans

B. Covers multiple parcels of land

C. Wraps around seller financing

D. Applies only to condominiums

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Q80. What is the primary difference between void and voidable contracts?

A. Void contracts are oral, voidable are written

B. Voidable contracts are legally unenforceable

C. Void contracts lack legal effect from inception

D. Voidable contracts are always fraudulent

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Q81. What is the effect of a subrogation clause in title insurance?

A. Prevents the buyer from suing the seller

B. Allows insurer to recover costs from responsible parties

C. Eliminates all liens on title

D. Transfers ownership automatically

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Q82. How many days does a buyer have to cancel a timeshare contract after signing?

A. 3 calendar days

B. 7 calendar days

C. 10 business days

D. 14 calendar days

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Q83. What is the name for a mortgage where payments do not cover the full interest due?

A. Straight mortgage

B. Reverse mortgage

C. Negative amortization mortgage

D. Equity participation loan

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Q84. What must be included in every brokerage relationship disclosure?

A. Title insurance details

B. The signature of both parties

C. The duties owed to customers or clients

D. A list of broker’s prior transactions

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Q85. What is required for a developer to sell lots under the Interstate Land Sales Full Disclosure Act (ILSA)?

A. Obtain a state real estate license

B. Register the subdivision with the Consumer Financial Protection Bureau (CFPB)

C. List the property on MLS

D. Post escrow with FREC

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Q86. What is an amortized loan?

A. Loan with interest-only payments

B. Loan with payments that decrease over time

C. Loan paid off in periodic installments of principal and interest

D. Balloon mortgage with large final payment

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Q87. What is the effect of a tenancy by the entireties if one spouse dies?

A. Property must be probated

B. Surviving spouse gains full ownership

C. Interest passes to heirs

D. Lien is attached to both estates

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Q88. What happens when a tenant continues to occupy property after the lease expires without landlord permission?

A. Becomes a tenant at will

B. Creates a leasehold estate

C. Is a tenant at sufferance

D. Converts to a periodic tenancy

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Q89. What must a sales associate do when receiving a written complaint from a customer?

A. Destroy it immediately

B. Refer it to the state attorney

C. Notify their broker immediately

D. File a notice of complaint with FREC

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Q90. What does the “effective date” of a contract represent?

A. The date earnest money is received

B. The day after the seller signs

C. The date the last party signs and delivers the acceptance

D. The offer date

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Q91. What is the maximum civil penalty for violating the Fair Housing Act?

A. $5,000

B. $10,000

C. $16,000

D. $50,000

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Q92. What kind of deed provides the least protection to the grantee?

A. Bargain and sale deed

B. General warranty deed

C. Quitclaim deed

D. Special warranty deed

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Q93. What is the statute of limitations for written contracts in Florida?

A. 2 years

B. 4 years

C. 5 years

D. 7 years

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Q94. Which of the following is not one of the four unities required for joint tenancy?

A. Time

B. Title

C. Possession

D. Warranty

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Q95. What action may FREC take if a licensee is found guilty of a second-degree misdemeanor?

A. Issue a notice of noncompliance

B. Revoke license without hearing

C. Impose administrative discipline

D. Allow the licensee to self-report only

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Q96. Which of the following best describes the term “freehold estate”?

A. Leasehold with monthly tenancy

B. Ownership interest with no definite end

C. Easement in gross

D. Fee-for-service tenancy

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Q97. Which Florida statute governs escrow disbursement procedures?

A. F.S. 475.25

B. F.S. 455.227

C. F.S. 61J2-14.012

D. F.S. 689.01

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Q98. What is the primary purpose of RESPA?

A. To regulate brokerage advertising

B. To require title insurance

C. To ensure disclosure of closing costs

D. To eliminate license reciprocity

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Q99. What does the term “redlining” refer to?

A. Refusal to rent to minorities

B. A zoning regulation technique

C. Denial of loans based on location

D. Discriminatory advertising practice

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Q100. What happens if a sales associate works for two brokers at the same time?

A. It is permitted with written consent

B. It is considered a dual agency

C. It is illegal and grounds for suspension

D. It is permitted only for referral work

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Q101. When a broker receives escrow funds in the form of a post-dated check, what must they do before accepting it on behalf of the seller?

A. Get approval from their broker.

B. Notify the FREC within 24 hours.

C. Obtain the seller's written consent.

D. Deposit it immediately regardless of date.

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Q102. A real estate licensee preparing a CMA for a potential listing must avoid:

A. Estimating a value based on three sold properties.

B. Charging a fee for the CMA unless licensed as an appraiser.

C. Using comparable properties older than 12 months.

D. Providing a range instead of a specific value.

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Q103. What is the legal status of a listing contract that lacks a definite expiration date?

A. Valid, if verbal authorization is given.

B. Valid, but terminates after 30 days.

C. Voidable at seller's discretion.

D. Void and unenforceable.

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Q104. Which type of tenancy includes a survivorship feature and can only be held by spouses?

A. Tenancy in common

B. Joint tenancy

C. Tenancy by the entirety

D. Tenancy at will

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Q105. A real estate licensee is acting as a single agent. What fiduciary duty is not owed to the buyer or seller?

A. Loyalty

B. Obedience

C. Full disclosure

D. Limited confidentiality

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Q106. What document must a developer of more than 20 new condominium units provide to each buyer?

A. HOA budget report

B. Summary of lien disclosures

C. Articles of incorporation

D. Prospectus

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Q107. A broker associate forms a PA (Professional Association). Who must pay their commission?

A. Their own PA

B. The seller

C. The employing broker

D. The DBPR

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Q108. What is the minimum time a broker must retain real estate transaction records?

A. 2 years

B. 3 years

C. 5 years

D. 7 years

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Q109. A seller instructs their agent not to disclose a known sinkhole under the home. What must the agent do?

A. Honor the client's confidentiality

B. Advise buyer to get an independent inspection

C. Disclose the sinkhole regardless of instruction

D. Withdraw from the transaction

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Q110. Which investment property analysis tool best compares properties with different levels of debt service?

A. Gross rent multiplier

B. Net operating income

C. Capitalization rate

D. Cash-on-cash return

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Q111. A licensee who fails to complete the post-licensing education by the expiration date of their initial license will:

A. Have their license suspended until completion.

B. Be automatically upgraded to broker status.

C. Lose the license and must requalify from scratch.

D. Be fined and placed on probation.

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Q112. Which of the following best defines a fixture under Florida real estate law?

A. A removable personal item used for staging

B. Any improvement attached with bolts or adhesive

C. An item that was once personal property but is now real property

D. Any item listed in the home inspection report

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Q113. What is the most appropriate legal action if a buyer backs out after all contingencies are satisfied and refuses to close?

A. File a complaint with the DBPR

B. Sue for compensatory damages

C. Initiate specific performance

D. Seek a new buyer immediately

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Q114. What must a broker do if an escrow dispute cannot be resolved within a reasonable time?

A. Notify the local Realtor board

B. Release the funds to the buyer

C. Initiate one of the settlement procedures within 30 business days

D. Wait for a court judgment

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Q115. A condominium resale buyer has how many business days to cancel the contract upon receipt of required disclosures?

A. 3

B. 5

C. 10

D. 15

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Q116. Which of the following is true about a tenancy at sufferance in Florida?

A. It is a leasehold estate with defined terms

B. The tenant remains with the landlord's consent

C. The landlord must file an ejectment action immediately

D. The tenant remains without consent after lease expiration

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Q117. The brokerage relationship disclosure requirements apply in which of the following situations?

A. Selling commercial property over 4 units

B. Rental of 12-month leases

C. Auction and appraisals

D. Negotiating the sale of a duplex to a buyer

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Q118. A developer selling 100 vacant lots requires buyers to sign an agreement stating they waive their right to rescind. What is the legal effect of this clause?

A. Enforceable if the buyer signs knowingly

B. Valid in counties with populations under 25,000

C. Void statutory rights cannot be waived

D. Conditional upon federal interstate land laws

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Q119. A real estate broker hires unlicensed assistants to show property and discuss features with buyers. This is a violation because:

A. Assistants must work only from the office

B. Only licensed individuals may perform tasks requiring judgment

C. Assistants must be paid hourly

D. Showing is only permitted with the seller's written consent

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Q120. Which of the following best describes the purpose of a due-on-sale clause?

A. It prevents prepayment of the loan

B. It allows the borrower to assume the loan without consent

C. It lets the lender demand full repayment upon sale

D. It restricts the borrower from refinancing

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Q121. Under Florida law, which of the following is not required for a deed to be valid?

A. Signature of the grantor

B. Habendum clause

C. Legal description

D. Two competent witnesses

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Q122. A broker forgets to include the brokerage name in an online ad but includes the phone number and agent name. This is considered:

A. Blind advertising

B. Bait-and-switch

C. Puffing

D. Misrepresentation

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Q123. If a borrower is assumed to have a 360-month amortized mortgage, what is most likely true about the loan?

A. The loan is paid off in 15 years

B. The interest-only period is 30 months

C. It is a 30-year mortgage

D. The final balloon payment is due in 10 years

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Q124. Which element distinguishes a tenancy in common from a joint tenancy?

A. Right to partition

B. Equal shares

C. Survivorship rights

D. Written contract required

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Q125. When must a licensee provide the No Brokerage Relationship notice to a potential customer?

A. Before showing a property

B. Prior to presenting an offer

C. At first contact

D. Before entering into a written agreement

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Q126. Which of the following would result in the revocation of a Florida real estate license without the opportunity for reinstatement?

A. Failure to pay a fine

B. Criminal conviction for misdemeanor theft

C. Filing for bankruptcy

D. Issuance of a license by mistake

127 / 300

Q127. A licensee who receives a citation from the DBPR must respond within:

A. 7 days

B. 15 days

C. 30 days

D. 60 days

128 / 300

Q128. What is the penalty for a broker who fails to maintain sign-in logs for showing a listed property?

A. First-degree misdemeanor

B. Civil penalty of $5,000

C. No penalty, as it's not required

D. FREC suspension

129 / 300

Q129. The market value of a property is $210,000. The assessed value is $190,000, and the homestead exemption is $50,000. What is the taxable value?

A. $160,000

B. $140,000

C. $190,000

D. $210,000

130 / 300

Q130. What appraisal principle states that adding improvements contributes less and less to value over time?

A. Regression

B. Conformity

C. Contribution

D. Diminishing returns

131 / 300

Q131. A licensee fails to complete continuing education by the license renewal deadline. The license status becomes:

A. Voided

B. Suspended

C. Involuntarily inactive

D. Probationary

132 / 300

Q132. Which document transfers title but contains no warranties against encumbrances?

A. General warranty deed

B. Special warranty deed

C. Quitclaim deed

D. Bargain and sale deed

133 / 300

Q133. If a landlord does not intend to make a claim on a security deposit, the deposit must be returned within:

A. 7 days

B. 15 days

C. 30 days

D. 60 days

134 / 300

Q134. What is the effect of a lis pendens filed against a property?

A. Transfers title to the lender

B. Clears title for sale

C. Warns of pending legal action

D. Freezes all property taxes

135 / 300

Q135. A broker earns a commission after procuring a ready, willing, and able buyer at full terms, but the seller refuses to close. The broker is:

A. Entitled to keep the deposit

B. Not entitled to commission

C. Entitled to sue for commission

D. Required to return all fees

136 / 300

Q136. Under RESPA, a Loan Estimate must be provided within how many business days of receiving a loan application?

A. 1

B. 3

C. 5

D. 7

137 / 300

Q137. What is the maximum allowable homestead exemption in Florida for a qualifying resident over age 65, in counties that offer the full benefit?

A. $25,000

B. $50,000

C. $75,000

D. $100,000

138 / 300

Q138. Which of the following must be included in all written residential listing agreements under Florida law?

A. The brokerage's tax ID number

B. A legal description

C. A definite expiration date

D. The buyer's signature

139 / 300

Q139. A licensed real estate agent is found guilty of theft in another state. What must they do?

A. Report it to the DBPR within 30 days

B. Notify their employing broker only

C. Wait until license renewal to report

D. Nothing out-of-state convictions are irrelevant

140 / 300

Q140. What clause in a mortgage makes the entire loan due if a borrower misses several payments?

A. Prepayment clause

B. Acceleration clause

C. Defeasance clause

D. Alienation clause

141 / 300

Q141. A property manager fails to maintain the premises, resulting in tenant injury. The owner may still be liable under which legal doctrine?

A. Subrogation

B. Vicarious liability

C. Estoppel

D. Novation

142 / 300

Q142. What type of lease increases the tenant's rent periodically based on a set schedule?

A. Net lease

B. Percentage lease

C. Variable lease

D. Graduated lease

143 / 300

Q143. Which disclosure is not required in a residential transaction involving a condominium resale?

A. Declaration of Condominium

B. Articles of Incorporation

C. Most recent year's financial report

D. Lead-based paint disclosure

144 / 300

Q144. What is the effect of a zoning variance?

A. Changes zoning classification permanently

B. Creates a nonconforming use

C. Grants permission to deviate from zoning without changing the law

D. Eliminates all local code enforcement

145 / 300

Q145. A broker receives a referral fee from a title company without disclosure. This violates which federal law?

A. ECOA

B. RESPA

C. Truth-in-Lending

D. FIRPTA

146 / 300

Q146. A transaction broker must disclose their role to all parties:

A. Orally, within 24 hours

B. Only when asked

C. In writing, before showing property

D. No written disclosure is required

147 / 300

Q147. A foreign investor sells Florida real estate. What is required at closing under FIRPTA?

A. Buyer must report the seller's income to the IRS

B. Seller must pay 10% withholding tax

C. Buyer must withhold 15% of sale price for IRS

D. No action is needed unless gain exceeds $250,000

148 / 300

Q148. What is the maximum fine per offense that the FREC can impose for a license law violation?

A. $1,000

B. $2,500

C. $5,000

D. $10,000

149 / 300

Q149. The statute of frauds in Florida requires that:

A. All leases must be in writing

B. All real estate contracts must be notarized

C. Contracts for sale of real property must be in writing to be enforceable

D. Verbal agreements are enforceable for contracts under $100,000

150 / 300

Q150. Which approach to value would be most appropriate for a unique church building?

A. Income approach

B. Market comparison

C. Cost-depreciation approach

D. Gross rent multiplier

151 / 300

Q151. What is the purpose of the tax certificate sale in Florida?

A. To raise funds for the local government

B. To collect delinquent property taxes

C. To seize and sell foreclosed homes

D. To issue tax rebates to homeowners

152 / 300

Q152. A broker assigns another licensee in the firm to a buyer and a different one to the seller in the same transaction. This is known as:

A. Transaction brokerage

B. Dual agency

C. Designated sales associates

D. Subagency

153 / 300

Q153. What type of loan clause prevents the borrower from transferring the mortgage to another party?

A. Subordination clause

B. Prepayment clause

C. Defeasance clause

D. Due-on-sale clause

154 / 300

Q154. A seller gives false information about the property boundaries. The buyer discovers the truth after closing. Which legal claim is most appropriate?

A. Breach of fiduciary duty

B. Specific performance

C. Constructive eviction

D. Misrepresentation

155 / 300

Q155. The buyer of a timeshare unit has how many calendar days to cancel the contract?

A. 3

B. 5

C. 10

D. 15

156 / 300

Q156. A brokerage account used to hold escrow funds must be:

A. A separate interest-bearing account

B. A non-interest-bearing trust account

C. A Florida-based depository

D. Approved by the Division of Real Estate

157 / 300

Q157. When using the income approach, what is the formula for estimating value?

A. NOI × Cap Rate

B. NOI ÷ Cap Rate

C. Cap Rate ÷ NOI

D. Net Income Expenses

158 / 300

Q158. A buyer's earnest money check bounces after contract execution. What is the most likely outcome?

A. The seller must extend the contract

B. The buyer is automatically refunded

C. The seller may declare a default

D. The broker is liable for the funds

159 / 300

Q159. A Florida broker may hold multiple broker licenses only when:

A. Each license is from a different county

B. Each license is for a different type of property

C. Each brokerage business is registered separately

D. FREC grants an exception

160 / 300

Q160. A broker's license is suspended. What happens to the sales associates registered under that broker?

A. They automatically lose their licenses

B. Their licenses become involuntarily inactive

C. They must pay a reinstatement fee

D. They are transferred to another broker

161 / 300

Q161. Which action would most likely constitute commingling of funds?

A. Depositing personal rent income into an escrow account

B. Paying office rent from the operating account

C. Holding earnest money in a separate trust account

D. Transferring commission to a personal account after closing

162 / 300

Q162. A broker receives conflicting demands for escrow funds and notifies FREC. How long does the broker have to implement a settlement procedure?

A. 10 business days

B. 15 calendar days

C. 20 calendar days

D. 30 business days

163 / 300

Q163. Which document is legally required when an owner finances the sale of residential property with an agreement to accept installment payments?

A. Warranty deed

B. Lease-option agreement

C. Promissory note and mortgage

D. Land contract (contract for deed)

164 / 300

Q164. A landlord wishes to terminate a month-to-month tenancy. How much notice is required under Florida law?

A. 7 days

B. 15 days

C. 30 days

D. 60 days

165 / 300

Q165. A property's zoning is changed and the structure no longer conforms to the code but is allowed to remain. This is a:

A. Buffer zone

B. Variance

C. Legal nonconforming use

D. Conditional use

Explanation: Both HUD and state licensing agencies like DBPR can take action for fair housing violations.
Citation: Fair Housing Act; F.S. 760.20 760.37

166 / 300

Q166. A real estate licensee who violates the Fair Housing Act may be subject to action by:

A. FREC only

B. HUD and the DBPR

C. The local zoning authority

D. Florida Attorney General only

167 / 300

Q167. In a 1031 tax-deferred exchange, which of the following is not a requirement?

A. Properties must be held for productive use or investment

B. Replacement property must be identified within 45 days

C. Exchange must be completed within 180 days

D. The properties must be identical in location and type

168 / 300

Q168. When using the cost-depreciation approach, which type of depreciation is usually not curable?

A. Physical deterioration

B. Functional obsolescence

C. External obsolescence

D. Deferred maintenance

169 / 300

Q169. A licensed personal assistant is legally allowed to:

A. Show homes to prospective buyers

B. Answer questions about property condition

C. Schedule appointments and organize files

D. Discuss negotiation terms with clients

170 / 300

Q170. A real estate brokerage changes business address. What is required of the broker?

A. Nothing unless sales volume exceeds $1M

B. Notify DBPR within 30 days

C. Notify FREC and pay a $50 fine

D. File a new license application immediately

171 / 300

Q171. A property is sold as is with full disclosures. Which defect must still be disclosed to the buyer?

A. The seller's emotional attachment

B. A known roof leak not visible during showing

C. A low appraisal on a prior deal

D. Outdated appliances

172 / 300

Q172. When calculating loan-to-value (LTV), which figure is used in the denominator?

A. The sales price

B. The appraised value or sales price, whichever is lower

C. The down payment

D. The mortgage balance

173 / 300

Q173. What is the penalty for performing real estate services for compensation without a license?

A. $500 fine

B. First-degree misdemeanor

C. Second-degree misdemeanor

D. Third-degree felony

174 / 300

Q174. A buyer applies for an FHA loan. What is the maximum allowable seller contribution toward closing costs?

A. 3%

B. 6%

C. 10%

D. No limit

175 / 300

Q175. In an agency relationship, fiduciary duties are owed to:

A. The customer

B. The principal

C. The cooperating broker

D. The title agent

176 / 300

Q176. A joint tenancy can be destroyed if:

A. One tenant moves out

B. A tenant rents their share

C. One tenant sells their interest

D. All tenants agree to refinance

177 / 300

Q177. A prospective buyer asks a broker about the racial demographics of a neighborhood. The broker should:

A. Provide census data

B. Offer personal opinion

C. Refer them to third-party sources

D. Disclose if diversity goals are met

178 / 300

Q178. When must a broker deposit escrow funds into a trust account?

A. Immediately upon receipt

B. Within 24 hours

C. Within 3 business days

D. Before contract signing

179 / 300

Q179. A buyer has a contract to purchase but finds a more desirable property. What happens if they cancel without legal justification?

A. They may owe liquidated damages

B. No penalty applies

C. The contract is automatically void

D. The seller must renegotiate

180 / 300

Q180. A broker wants to advertise on social media. Which of the following is required?

A. Use of personal license number

B. A link to the FREC website

C. Inclusion of brokerage firm's registered name

D. Broker's personal phone number

181 / 300

Q181. A buyer and seller agree verbally on a property purchase. The buyer sends a deposit but no written contract exists. What is the status of the agreement?

A. Valid and enforceable

B. Enforceable if deposit is accepted

C. Voidable at buyer's discretion

D. Unenforceable under the Statute of Frauds

182 / 300

Q182. A property manager budgeting for recurring expenses like utilities and lawn care should include them under:

A. Capital expenditures

B. Reserve funds

C. Fixed expenses

D. Operating expenses

183 / 300

Q183. What form of ownership allows a married couple to protect a Florida homestead from individual creditors of one spouse?

A. Tenancy in common

B. Joint tenancy

C. Tenancy by the entirety

D. Life estate

184 / 300

Q184. What type of mortgage includes both real and personal property, such as appliances and fixtures?

A. Blanket mortgage

B. Package mortgage

C. Open-end mortgage

D. Purchase-money mortgage

185 / 300

Q185. What legal concept is established when a party is prevented from asserting rights because of inconsistent past actions?

A. Novation

B. Estoppel

C. Subrogation

D. Severability

186 / 300

Q186. When must a license applicant disclose a felony conviction that was sealed by the court?

A. Never, if sealed

B. Only if asked directly by DBPR

C. Always, regardless of sealing

D. Only if it occurred within 5 years

187 / 300

Q187. Which appraisal principle suggests the most profitable use of a property determines its value?

A. Substitution

B. Conformity

C. Highest and best use

D. Anticipation

188 / 300

Q188. A seller has received multiple offers. Legally, the seller:

A. Must accept the highest offer

B. Must present them to the listing agent

C. May counter only one offer at a time

D. May accept, counter, or reject any offers in any order

189 / 300

Q189. A Florida broker is also a licensed attorney. When acting solely as an attorney in a transaction, they:

A. Must still disclose brokerage relationship

B. Are exempt from license law

C. Can deposit escrow funds into a personal account

D. Must perform dual agency

190 / 300

Q190. Which of the following is true about the role of a notary in real estate closings in Florida?

A. Notaries must review all contracts for legality

B. Notaries can represent both buyer and seller

C. Notaries acknowledge the authenticity of signatures

D. A notary's presence makes a contract legally binding

191 / 300

Q191. The portion of a mortgage payment that reduces the principal balance is called:

A. Interest

B. Escrow

C. Amortization

D. PMI

192 / 300

Q192. A developer who fails to provide required condo disclosures may face:

A. Loss of real estate license

B. Cancellation rights exercised by buyer

C. Civil action for constructive eviction

D. Fines by FREC

193 / 300

Q193. An abstract of title provides:

A. Insurance against defects

B. A summary of title history

C. The current market value

D. A deed conveying ownership

194 / 300

Q194. In Florida, how long must escrow account records be retained?

A. 2 years

B. 3 years

C. 5 years

D. 7 years

195 / 300

Q195. Which ownership right is the right to exclude others from the property?

A. Disposition

B. Possession

C. Control

D. Exclusion

196 / 300

Q196. A mortgage lender advertises "No credit check required!" without qualifying language. This likely violates:

A. RESPA

B. ECOA

C. Truth-in-Lending Act

D. Fair Housing Act

197 / 300

Q197. Which agency oversees timeshare development and sales in Florida?

A. DBPR Division of Real Estate

B. FREC

C. HUD

D. DBPR Division of Condominiums, Timeshares, and Mobile Homes

198 / 300

Q198. Which of the following best describes the principle of substitution in appraisal?

A. One property cannot be worth more than a similar substitute

B. A higher use replaces a lower use over time

C. A newer building always appraises higher than an older one

D. Value is increased by improving dissimilar features

199 / 300

Q199. A real estate licensee attempts to collect a fee for appraising property. This is a violation because:

A. Only brokers may perform appraisals

B. Only licensed or certified appraisers may be compensated for appraisals

C. CMAs are illegal without permission

D. It is a conflict of interest

200 / 300

Q200. A seller lists a property and later learns of an undisclosed lien. What is the likely outcome?

A. The lien cancels the listing

B. The seller must disclose the lien and satisfy it before closing

C. The listing is void

D. The lien transfers to the buyer

201 / 300

Q201. A real estate licensee receives an earnest money deposit on Friday at 4 p.m. What is the latest time the broker can deposit it?

A. Monday by end of day

B. Tuesday by end of day

C. Wednesday by end of day

D. Friday before midnight

202 / 300

Q202. Which party is legally authorized to draft a deed in a Florida transaction?

A. The listing broker

B. The seller's attorney

C. The closing agent without legal training

D. The buyer's agent

203 / 300

Q203. In which scenario is the broker not entitled to a commission?

A. Buyer defaults after all contingencies are removed

B. Seller rejects full-price, cash offer with no contingencies

C. Buyer withdraws after failing to secure financing

D. Property fails to appraise at contract value

204 / 300

Q204. Which of the following is not a requirement of a valid listing agreement in Florida?

A. Names of all owners

B. Signature of at least one property owner

C. Legal description of the property

D. Definite expiration date

205 / 300

Q205. A sales associate forms a PA (Professional Association) and is paid through it. Who must the check come from?

A. The title company

B. The client

C. The employing broker

D. The escrow agent

206 / 300

Q206. A property's market value is $280,000. The buyer secures a mortgage of $224,000. What is the LTV ratio?

A. 75%

B. 80%

C. 85%

D. 90%

207 / 300

Q207. A single agent transitions to transaction broker during a negotiation. What must occur?

A. Nothing; this is automatic

B. The principal must consent in writing

C. A FREC officer must be present

D. All fiduciary duties remain

208 / 300

Q208. A sales associate disagrees with their employer's instructions on how to conduct a showing. What duty is owed to the broker?

A. Loyalty

B. Full disclosure

C. Obedience

D. Confidentiality

209 / 300

Q209. Which clause in a deed guarantees that the grantor owns the property and has the right to convey it?

A. Seisin

B. Habendum

C. Warranty forever

D. Covenant of quiet enjoyment

210 / 300

Q210. The monthly rent on an investment property is $2,400. If the property sold for $288,000, what is the gross rent multiplier (GRM)?

A. 10

B. 12

C. 120

D. 144

211 / 300

Q211. A 6% brokerage fee is negotiated. If the property sells for $375,000, how much is the commission?

A. $21,000

B. $22,500

C. $23,500

D. $24,000

212 / 300

Q212. A licensee wants to avoid accidental misrepresentation during a showing. What is the most appropriate action?

A. Disclose all known facts about the property

B. Avoid speaking unless asked

C. Present only written materials

D. Use general statements without specifics

213 / 300

Q213. A property's assessed value is $215,000. The owner qualifies for the full $50,000 homestead exemption. What is the taxable value?

A. $165,000

B. $170,000

C. $160,000

D. $185,000

214 / 300

Q214. A landlord fails to return a security deposit or explain deductions within 30 days. What is the result?

A. The tenant forfeits the deposit

B. The deposit is assumed forfeited

C. The tenant is entitled to full refund

D. The issue must go to small claims court

215 / 300

Q215. What defines a township in the rectangular survey system?

A. A 6-mile by 6-mile square

B. A section of 640 acres

C. A subdivision within a range

D. An east-west tier

216 / 300

Q216. A seller gives power of attorney to a friend to sell their home while abroad. This creates what kind of agency?

A. General agency

B. Ostensible agency

C. Special agency

D. Universal agency

217 / 300

Q217. A developer pays all infrastructure costs to build roads and water lines for a subdivision. What type of development funding is this?

A. Impact fee

B. Special assessment

C. Dedication

D. Developer-exacted contribution

218 / 300

Q218. Which contract element is not required for enforceability?

A. Consideration

B. Legal purpose

C. In writing

D. Earnest money

219 / 300

Q219. A brokerage account is audited and shows that the broker failed to reconcile monthly. What's the likely result?

A. Fine or administrative penalty

B. License revocation

C. Referral to IRS

D. No action unless money is missing

220 / 300

Q220. What best describes a cooperative ownership structure?

A. Tenants own their unit and a share of common areas

B. Owners hold stock in a corporation that owns the property

C. Each unit has its own parcel ID

D. The building is managed under an HOA

221 / 300

Q221. A property manager collects a tenant's rent and accidentally deposits it into the company's operating account. What violation has occurred?

A. Commingling

B. Conversion

C. Fraud

D. Negligence

222 / 300

Q222. Which of the following creates an agency relationship without a written agreement?

A. Estoppel

B. Ratification

C. Implied agency

D. Designated agency

223 / 300

Q223. A broker's license is revoked for escrow mishandling. What happens to the licenses of their sales associates?

A. All licenses are permanently revoked

B. Licenses convert to voluntary inactive

C. Licenses become involuntarily inactive

D. FREC suspends them for 90 days

224 / 300

Q224. The right of survivorship is automatically included in which type of ownership?

A. Tenancy in common

B. Joint tenancy

C. Life estate

D. Fee simple determinable

225 / 300

Q225. Which situation would most likely result in a constructive eviction?

A. Landlord refuses to repair a broken AC in Florida summer

B. Tenant receives a 3-day notice to pay rent

C. Lease expires and landlord raises rent

D. Neighbor's barking dog disrupts sleep

226 / 300

Q226. Which of the following property types is exempt from federal fair housing law?

A. Four-unit owner-occupied property

B. Condo in a retirement community

C. Commercial office space

D. Single-family home listed by broker

227 / 300

Q227. Which deed offers the least protection to the buyer?

A. General warranty deed

B. Special warranty deed

C. Quitclaim deed

D. Bargain and sale deed

228 / 300

Q228. What is the result of a legal description using metes and bounds ?

A. A rectangular map overlay

B. A series of plat lot numbers

C. A perimeter-based property survey

D. A subdivision's zoning map

229 / 300

Q229. When a property owner dies without a will or heirs, what happens to the real estate?

A. Assigned to the nearest relative

B. Divided among creditors

C. Transferred to the state via escheat

D. Sold by the county tax assessor

230 / 300

Q230. In a lien-theory state like Florida, who holds title during the mortgage period?

A. Lender

B. Borrower

C. Trustee

D. Title company

231 / 300

Q231. A licensee's advertisement claims best price guaranteed. This could be considered:

A. Puffing

B. Misrepresentation

C. Steering

D. Blind advertising

232 / 300

Q232. The act of calculating the dollar value of depreciation due to age is most closely associated with:

A. The market approach

B. The cost approach

C. The income approach

D. Gross rent multiplier

233 / 300

Q233. If a licensee fails to notify the DBPR of a mailing address change within the required time frame, what is the penalty?

A. Automatic license suspension

B. $500 civil fine

C. Minor infraction citation

D. Written warning

234 / 300

Q234. A deed is not considered valid unless:

A. It is recorded

B. It is notarized

C. It is signed by the grantee

D. It is delivered and accepted

235 / 300

Q235. Which scenario requires a real estate license in Florida?

A. Selling your own home

B. Referring a buyer for a friend for free

C. Advertising homes for sale as a paid service

D. Leasing your own investment properties

236 / 300

Q236. What is the primary purpose of a title insurance policy?

A. To guarantee a fixed interest rate

B. To protect against future condemnation

C. To insure against defects in title

D. To verify flood zone status

237 / 300

Q237. A licensee wants to open a brokerage under a fictitious name. What must they do?

A. File with FREC and register the name with DBPR

B. Only use initials on advertising

C. File articles of incorporation

D. Notify their broker, but no state registration is needed

238 / 300

Q238. A buyer makes an offer, and the seller makes changes and signs it. What is the status of the offer?

A. Accepted and binding

B. Voided

C. Counteroffer

D. Contingent

239 / 300

Q239. In an exclusive agency listing, the broker is entitled to a commission unless:

A. Another broker sells the property

B. The seller finds the buyer themselves

C. The property sells below market

D. The seller cancels the listing

240 / 300

Q240. What is the relationship between a broker and the principal in a single agency?

A. Fiduciary

B. Transactional

C. Advisory

D. Arms-length

241 / 300

Q241. What is the function of a deed restriction in a residential subdivision?

A. Allows changes to property zoning

B. Limits certain uses or improvements

C. Grants power of attorney to the HOA

D. Replaces the need for building permits

242 / 300

Q242. A buyer under contract discovers that the property was misrepresented and withdraws. What happens to the escrow deposit?

A. Returned to the seller

B. Forfeited

C. Released to the buyer

D. Held until arbitration

243 / 300

Q243. Which item is typically not included in the closing disclosure?

A. Broker's commission

B. Loan APR

C. Prorated taxes

D. Survey cost

244 / 300

Q244. A broker discovers a math error in their own listing advertisement. What is the best action?

A. Leave it until a complaint is filed

B. Immediately correct the ad

C. Ask the seller to confirm figures

D. Report it to the DBPR

245 / 300

Q245. Which of the following types of real estate ownership bypasses probate upon death?

A. Tenancy in common

B. Life estate

C. Joint tenancy with right of survivorship

D. Fee simple determinable

246 / 300

Q246. What is the purpose of a buffer zone in zoning?

A. Increase taxable land

B. Separate incompatible uses

C. Encourage development

D. Avoid spot zoning

247 / 300

Q247. What is the effect of a subordination clause in a mortgage?

A. Converts an FHA loan to conventional

B. Cancels a junior lien

C. Allows a new lien to take priority

D. Prevents foreclosure

248 / 300

Q248. A broker fails to present an offer because it's lower than asking price. What violation has occurred?

A. Misrepresentation

B. Concealment

C. Commingling

D. Failure to account

249 / 300

Q249. What is required to legally enforce a lease agreement of more than one year in Florida?

A. A witness

B. Oral agreement

C. Writing and signature

D. Notarization

250 / 300

Q250. Which action would result in the automatic suspension of a Florida real estate license?

A. Advertising without broker's name

B. Non-payment of child support

C. Dispute over commission

D. Late renewal

251 / 300

Q251. A broker is holding escrow for a transaction that falls through. The buyer and seller demand conflicting outcomes. What should the broker do?

A. Release funds to the buyer

B. Immediately refund both parties

C. Notify FREC within 15 days

D. Deposit funds in a personal account

252 / 300

Q252. A commercial tenant signs a lease tied to gross sales. This is called a:

A. Variable lease

B. Net lease

C. Step lease

D. Percentage lease

253 / 300

Q253. A new sales associate fails the post-licensing exam. What happens to their license?

A. Suspended

B. Voluntarily inactive

C. Null and void

D. Converted to a broker license

254 / 300

Q254. What triggers the requirement for flood insurance under the National Flood Insurance Program (NFIP)?

A. Any home in Florida

B. All FHA loans

C. Homes in Special Flood Hazard Areas with federally backed loans

D. Cash purchases in flood zones

255 / 300

Q255. In a real estate transaction, who is responsible for completing the property disclosure form?

A. Buyer

B. Broker

C. Seller

D. Title company

256 / 300

Q256. The discount rate is most directly controlled by:

A. Federal Reserve

B. U.S. Treasury

C. Local banks

D. Fannie Mae

257 / 300

Q257. What must be included in all brokerage relationship disclosure forms?

A. The firm's license number

B. Legal description of the property

C. Signature of the associate

D. Duties owed to the customer or client

258 / 300

Q258. Which type of loan requires a funding fee that may be financed into the loan amount?

A. FHA

B. USDA

C. VA

D. Conventional

259 / 300

Q259. A homeowner adds solar panels. What valuation principle may apply when selling the property?

A. Contribution

B. Regression

C. Assemblage

D. Anticipation

260 / 300

Q260. A broker deposits personal funds in the escrow account to cover bank fees. Is this allowed?

A. Yes, up to $1,000

B. No under any condition

C. Yes, if approved by FREC

D. Yes, if under $10,000

261 / 300

Q261. A property manager signs a lease on behalf of the owner without written authority. What is the legal status of the lease?

A. Voidable by tenant

B. Valid if rent is paid

C. Void due to lack of power

D. Enforceable if ratified

262 / 300

Q262. Which of the following is the most accurate definition of net listing in Florida?

A. A listing that pays commission only on net profit

B. A listing where broker keeps any amount above seller's price

C. A cooperative listing with multiple agents

D. A listing below market value

263 / 300

Q263. What triggers mandatory disclosure under the Interstate Land Sales Full Disclosure Act (ILSA.?

A. Any sale over $250,000

B. Subdivisions with 25 or more lots

C. Subdivisions of 100+ lots sold interstate

D. All sales in flood zones

264 / 300

Q264. What happens if a tenant remains after lease expiration and pays rent which the landlord accepts?

A. Tenancy at will is created

B. Lease is reinstated

C. Eviction must begin

D. Lease becomes void

265 / 300

Q265. Which type of mortgage loan has the highest risk for negative amortization?

A. Fixed-rate mortgage

B. Adjustable-rate mortgage (ARM)

C. Graduated payment mortgage (GPM)

D. Reverse mortgage Correct Answer: C

266 / 300

Q266. A buyer makes a written offer that expires in 72 hours. The seller accepts after 96 hours. What is the legal result?

A. A valid and binding contract

B. A void contract

C. A new offer

D. A revocable option

267 / 300

Q267. A developer is required to donate land for a public park in order to obtain zoning approval. This is known as:

A. Eminent domain

B. Dedication

C. Escheat

D. Condemnation

268 / 300

Q268. Which deed clause defines the interest being granted and the type of ownership?

A. Granting clause

B. Habendum clause

C. Seisin clause

D. Testimonium clause

269 / 300

Q269. A real estate licensee refers a buyer to a mortgage broker and receives $200 as a thank-you. What law is violated?

A. TILA

B. Fair Credit Act

C. RESPA

D. Sherman Act

270 / 300

Q270. What does a subordination clause accomplish in a junior lien?

A. Eliminates foreclosure rights

B. Converts the lien to unsecured debt

C. Gives priority to a newer lien

D. Protects the borrower from default

271 / 300

Q271. A seller agrees to pay points to reduce the buyer's interest rate. What is this called?

A. Buydown

B. Discounting

C. Loan assumption

D. Acceleration

272 / 300

Q272. A real estate brokerage is owned by two partners. One partner's license is suspended. What must the brokerage do?

A. Cease all operations immediately

B. Notify FREC within 10 days

C. Allow the other partner to assume full control

D. Cancel all existing listings

273 / 300

Q273. A buyer asks about church locations in a specific neighborhood. The best response is:

A. This area is very family-oriented.

B. You can find that information online.

C. Most of our buyers are Christian.

D. I can't legally tell you that.

274 / 300

Q274. A homestead property has an assessed value of $295,000. What portion is taxable for school district purposes after exemptions?

A. $245,000

B. $270,000

C. $250,000

D. $295,000

275 / 300

Q275. Which of the following is not considered legally sufficient consideration in a contract?

A. A promise to perform

B. Payment of money

C. Mutual agreement

D. Illegal act

276 / 300

Q276. Which Florida statute governs the regulation and licensing of real estate professionals?

A. Chapter 455

B. Chapter 475

C. Chapter 61J2

D. Chapter 718

277 / 300

Q277. A broker promises a seller that their home will sell within 30 days or the broker will buy it. What's required for this to be legal?

A. No disclosure needed

B. Written disclosure outlining terms

C. Verbal agreement with the seller

D. Approval by FREC

278 / 300

Q278. What is the key characteristic of tenancy at sufferance?

A. Lease continues month to month

B. Tenant remains without consent

C. Landlord must give 30-day notice

D. Tenant has legal possession

279 / 300

Q279. What does the covenant of quiet enjoyment guarantee?

A. Protection against future title claims

B. Right to possess without disturbance

C. Legal access to the property

D. Right to exclude government inspection

280 / 300

Q280. A broker receives a $5,000 bonus from a developer after bringing a buyer but does not tell the buyer. What is this?

A. Legal if under $10,000

B. Concealment and unethical

C. Permitted with verbal consent

D. Acceptable under transaction brokerage

281 / 300

Q281. A sales associate receives an email from a potential buyer expressing interest in a listed property. When must a brokerage relationship disclosure be provided?

A. When the buyer visits the property

B. Upon receiving a signed offer

C. Before showing the property

D. After prequalification

282 / 300

Q282. A contract is missing a legal description but contains street address and parcel ID. What is the likely legal outcome?

A. Valid contract

B. Voidable by buyer

C. Void for vagueness

D. Binding with verbal clarification

283 / 300

Q283. In Florida, what must happen before a real estate license can be issued?

A. FREC approval

B. Brokerage sponsorship

C. Electronic fingerprinting and background check

D. Proof of residence in Florida

284 / 300

Q284. A buyer makes an offer that is contingent on financing. Which of the following makes the contract binding?

A. Seller countering at a higher price

B. Buyer making a second offer

C. Buyer obtaining a mortgage commitment

D. Seller accepting the offer

285 / 300

Q285. Which of the following is not an essential element of a valid deed?

A. Grantor signature

B. Legal description

C. Date of execution

D. Delivery and acceptance

286 / 300

Q286. If a property appraises below the contract price, and there is a financing contingency, the buyer may:

A. Be forced to close or lose deposit

B. Sue for specific performance

C. Cancel the contract without penalty

D. Require seller to lower price

287 / 300

Q287. A broker finds an error in a signed listing agreement. What should they do?

A. Change it and inform the seller

B. Leave it to avoid restarting the process

C. Cancel the listing and refuse to relist

D. Have both parties sign an amendment

288 / 300

Q288. In Florida, what is required before practicing real estate as a corporation?

A. FREC training

B. License for each officer

C. Registration with DBPR

D. Legal opinion from an attorney

289 / 300

Q289. What must be true of all earnest money deposits received by a broker?

A. They must be reported to FREC

B. They must be placed in escrow within 3 business days

C. They can be kept in the firm's general account

D. They must be invested for interest

290 / 300

Q290. The Market Comparison Approach is least effective for valuing:

A. Single-family homes

B. Custom-built homes

C. Condominiums

D. Vacant lots in subdivisions

291 / 300

Q291. The DBPR may issue a notice of noncompliance without discipline for:

A. Trust account misuse

B. Commingling

C. First-time minor violations

D. Criminal conviction disclosure

292 / 300

Q292. What is required for a valid option contract?

A. Mutual performance

B. Nominal consideration

C. Delivery of title

D. Open-ended term

293 / 300

Q293. What is the result if a landlord violates Florida's Landlord-Tenant Act by failing to maintain habitable conditions?

A. Lease converts to month-to-month

B. Tenant may sue for constructive eviction

C. Rent is increased by default

D. Tenant is evicted

294 / 300

Q294. A new condominium unit is being sold. How many calendar days does the buyer have to cancel the contract after receiving the disclosures?

A. 3

B. 7

C. 10

D. 15

295 / 300

Q295. What appraisal principle states that a property's value is influenced by the cost of acquiring a similar substitute?

A. Contribution

B. Highest and best use

C. Substitution

D. Balance

296 / 300

Q296. Which zoning designation is most likely to include shopping centers?

A. A-1

B. R-3

C. C-1

D. I-1

297 / 300

Q297. Which of the following is considered a voluntary lien?

A. Judgment lien

B. Mortgage lien

C. Mechanic's lien

D. Property tax lien

298 / 300

Q298. A real estate license is considered involuntarily inactive when:

A. The licensee chooses to pause activity

B. The license expires without renewal

C. The licensee completes post-licensing but skips CE

D. The licensee changes brokers

299 / 300

Q299. What term describes the right of government to seize private property for public use with compensation?

A. Eminent domain

B. Police power

C. Escheat

D. Taxation

300 / 300

Q300. Which type of agency relationship allows the agent to perform all legal acts for the principal?

A. Special agency

B. Designated agency

C. Universal agency

D. Transactional agency

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