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2015 Real Estate Exam Practice Test
Quiz #4
15
Real Estate & Planning
Professional
05/18/2015

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Cards

Term
Which statement is false regarding a corporation for profit that is doing business as a real estate broker?
Definition
All Stockholders must be registered with the FREC as inactive brokers
Term
A broker who changes the business address must notify the commission of the address change within how many days?
Definition
10 days
Term
In relation to section 1 of a township, section 12 is due...?
Definition
South
Term
A man is a 72 year old retired college professor. The local lender to whom the man applied for a 30 year mortgage denied the mans loan application, even though he has sufficient income from his pension plan and an excellent credit history....?
Definition
The lenders actions violate the equal credit opportunity act
Term
Essential elements of a deed do NOT Include...?
Definition
signature of a competent grantee
Term
A person must hold an active real estate license if, for express or for implied compensation, the person....?
Definition
advertise a list of available rental properties
Term
Individuals who solicit mortgage loans, accept applications for mortgage loans, and negotiate the terms of new mortgage loans on behalf of a borrower are called mortgage...?
Definition
Loan originators
Term
The Florida Real Estate Commission (FREC) is empowered by law to
Definition
reprimand, fine, or otherwise discipline licensees
Term
If a seller refuses to pay a broker her sales commission after the residential property is sold, the broker may...?
Definition
Refuse to permit the closing to occur
Term
If you have located a township numbered T2S, R4E, the township due south of that township is....?
Definition
T3S, R4E
Term
In Florida Real Property is assessed on Jan1 of each year, and property taxes become a lien on the property on...?
Definition
Jan 1, The same year
Term
Brokers should not accept the task of appraising a parcel....?
Definition
If their faces are contingent on the appraised value
Term
Which Information is confidential?
Definition
An examinee's grade on the state licensing examination
Term
A Prospective tenant purchased a rental list from a broker and then rented a duplex that the list said included all utilities. The tenant discovered that only water was included in the rent and notified the broker within the legislated time limit. The tenant is entitled to....?
Definition
100% of the fee paid
Term
A real estate company represents a motel owner who wishes to list one of the motels for sale. The owner has told the listing agent that he does not want to sell the motel to any racial minorities. Which statement is TRUE??
Definition
To refuse to sell or lease any real property based on one's race is a violation of the Federal Civil Rights Act of 1866
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