Term
| A licensed real estate broker has been hired by a lender to appraise a home for a buyer who has made application for an FHA loan. Which statement is true regarding this situation? |
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Definition
| The broker is required to be a state-certified appraiser to perform this appraisal assignment |
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Term
| Leaseholder estates do NOT include |
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Definition
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Term
| The Florida Real estate commission must notify which agency when it take disciplinary action against any of the agency's licensees?` |
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Definition
| Division of Florida Condominiums, Timeshares, and Mobile homes |
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Term
| Failure to comply with the statute of frauds will result in |
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Definition
| an unenforceable contract |
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Term
| Which stature prohibits discrimination in hotels, restaurants etc? |
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Definition
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Term
| A Broker receives a $5,000 Deposit on Tuesday, What day should he have the deposit in the account by? |
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Definition
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Term
| Which expense is subtracted to derive NOI |
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Definition
| Vacancy and Collection Losses |
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Term
| An Investor wants to build a motel, agent gives him 3 choices, all zoned for Hotel-Motel. Agent goes on vacation, Buyer purchases his property but did not know that the status of the property changed to industrial, what is the broker guilty of? |
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Definition
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Term
| Which clause is included in a mortgage to prevent a subsequent buyer from assuming an existing mortgage loan? |
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Definition
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Term
| The broker is a single agent of the seller. The principle has disclosed to the broker that the roof leaks. The broker would satisfy his legal obligation by telling them |
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Definition
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Term
| The seller instructs the listing broker not to show his home to members of a protected class.Which is the brokers best course of action? |
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Definition
| Withdrawal from the listing agreement |
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Term
| A broker has a listing priced at $120,000. An uninformed buyer offers $125,000. The buyer buys the property for $120,000 then sells it for $125,000 Which statement is false? |
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Definition
| This is legal as long as the broker withdrawals from the listing first. |
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Term
| A woman has homesteaded her residence. her home has an assessed value of $279,000. She is disabled due to a car accident, and legally blind. What is her cumulative tax exemption on her homesteaded residence? |
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Definition
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Term
| The duties of a real estate licensee, owed to a buyer or seller who engages the real estate license as a single agent, included all EXCEPT? |
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Definition
| Limited confidentiality , unless waived in writing by a party |
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Term
| Federal savings associations that are members of the federal home loan bank system are regulated by the? |
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Definition
| Office of thrift supervision |
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Term
| A sales associate who is employed by a owner-developer who owns properties in the name of various entities may be issued |
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Definition
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Term
| A tenant signed a lease for ten years requiring a monthly based rent of $1,900, Plus 2% of all monthly gross sales volume over $95,000. The tenant also must pay all property taxes, insurance, and other costs normally considered property owners cost. This is a |
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Definition
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Term
| A real estate license may be revoked or canceled without prejudice for which action? |
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Definition
| Issuance of a license by mistake by the commission |
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Term
| a brokers license was involuntary inactive for two years and one month. To operate again what must he do? |
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Definition
| FREC Course I and pass the sales associates licensing exam |
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Term
| A man negotiated and was successful in the sale of a federal communication commission license for a TV station. He is not a real estate broker or sale associate. The Man.... |
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Definition
| Has not violated F.S. 475. |
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Term
| Which statement concerning characteristics of the real estate market false? |
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Definition
| The real estate market is organized and controlled centrally |
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Term
| A comparable property has 1 more bedroom $8,000 and is on a slightly larger lot $2,000. The comparative market analysis requires a net adjustment of? |
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Definition
| Minus $10,000 to the comparable property |
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Term
| Which entity may NOT be registered as a real estate brokerage? |
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Definition
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Term
| The Formula to calculate the overall capitalization rate is |
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Definition
| NOI divided Value (OR PRICE) |
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Term
| Which is not a requirement under RESPA? |
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Definition
| Give mortgage applicant a list of competing lenders so that the consumer can comparison shop for the best rate. |
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