Tip: Click the ("plain-text" link in this section to view all text in this description) ---- A parcel of property measures 330 feet along the highway and contains 10 acres. What is the depth of the tract? Each of the following is considered a triggering term, EXCEPT: What is the grace period for a sales associate to complete their post-license education after the original expiration date on their license? Which statement correctly identifies the loan type with its function? Which of the following characteristics correctly apply to a township? What type of tenancy is formed by a written agreement that creates a non-freehold estate in real property providing occupancy of the property for a specified time period? What should a broker's initial action be when entertaining doubt as to which person is entitled to the delivery of escrowed property? Which type of deed is the most commonly used and provides the most protection for the grantee? What type of tenancy is formed by a written agreement that creates a non-freehold estate in real property providing occupancy of the property for a specified time period? Which statement is correct concerning agency relationships? A buyer enters into a contract with a seller. A week before closing, the seller decides that they no longer want to sell the property. The seller tells the buyer that they can have their deposit back. The buyer refuses and would file which type of suit? All of the following statements are true regarding a broker's office, EXCEPT: The real estate business is influenced by government at the local, state, and federal levels. Which of the following is influenced by the local government? Clarence made a written offer of $78,000 on Dan's home that was listed with broker Alice. Before the offer could be presented, Larry arrived at Alice's office and made an oral offer of $82,000 on the same property but did not give an earnest money deposit. Alice promised Larry that she would submit the oral offer but only presented the written offer to Dan. Which statement is correct? What is the opposite of erosion? Which document specifies the amount of the mortgage loan, the interest rate, loan term, and repayment schedule? Using the information provided, what is the estimated value for this income producing property? ROUND YOUR ANSWER TO THE NEAREST DOLLAR. Which type of obsolescence, in the cost approach to appraisal, is almost always incurable? Which Act requires lenders to judge loan applicants on the basis of credit rating, income, expenses, and assets without regard to their age, race, religion, sex, marital status, or nationality? The sales comparison, cost depreciation, and income approach are all based on an economic theory that a prudent buyer or investor will pay no more for a property than the cost of acquiring, through purchase or construction, an equally desirable alternative property. This is known as which principle of value? After defaulting on mortgage payments but prior to foreclosure, the mortgagor has the right to redeem their interest in the mortgaged property by paying the money owed the lender. What term refers to the right exercised by the mortgagor? All of the following statements are correct regarding a Planned Unit Development (PUD), EXCEPT: Which statement correctly applies to a real estate broker who represents both parties as a single agent in a transaction? Eminent domain includes all of the following, EXCEPT: Which statement pertaining to closing a real estate transaction is correct? Which section in a township is north of Section 1? What is the price of state documentary stamp tax on the deed for property that is located outside of Dade County? Which term refers to the primary reference point in a metes and bounds legal description of real property? When a sales contract for residential real property includes the "as is" provision, which statement correctly applies? Misrepresentation can be considered to be fraud if: Donna has been notified that her spouse will be transferred to the New York company office. Donna currently has a Florida Real Estate Sales Associate's License. She plans to accompany her spouse as a result of the reassignment and would like to keep her license. What is Donna required to do to continue practicing real estate in Florida? Bob and Sue are going to build their dream home on lakefront property. They discover that the plans are no longer in compliance with building codes due to a change in the property. This hardship was caused by erosion of the land. To move forward with their plans, what should Bob and Sue request from the zoning board? The value of a business that is failing and not expected to continue would best be determined using which valuation method? The concept that states that an informed buyer will pay no more for a property than the cost of acquiring another equally desirable property with the same or equal utility is based upon which of the following? The loan amount is $410,000 and the loan-to-value ratio is 75%. What is the purchase price of the property? These are all remedies for breach of a real estate contract between a buyer and seller, EXCEPT: How may contractual rights be transferred from one person to another? Each of the following is a valid form of co-ownership, EXCEPT: During a formal hearing being held as the result of an administrative complaint, how may a broker seek testimony from a witness? Which of the following is a possible disadvantage of investing in real estate? A licensee has been found guilty of a violation of the rules of the Real Estate Commission. The Commission is authorized to impose any of the following penalties, EXCEPT: Certain contracts need to be in writing to be enforceable. A contract that transfers an interest in real property must be in writing. Which of the following dictates this requirement? The act of transferring ownership, title or an interest in real property from one person to another is called alienation. Alienation may be voluntary or involuntary. Which types of ownership transfer are correctly identified as voluntary or involuntary? Which listing best protects a broker with respect to receiving compensation? Which institutions in the state of Florida are approved depositories for earnest money? The buyer of an industrial complex wants the broker to place the earnest money in an interest-bearing account. The broker does this, clearly identifying all parties who are to receive the interest and the date the earned interest is to be disbursed. With only the verbal consent of the buyer, he places the money in an insured account in a depository in Florida. When the time comes to disburse the account, the broker will write a check to the buyer for the interest as the buyer agreed. Which statement describing this situation applies? The Federal Housing Administration (FHA) insures loans for lenders of real property. Which statement about FHA loans is FALSE? A buyer and seller have entered into a contract for the sale of a duplex. The buyer defaults on the contract and the seller claims the escrow deposit per contractual agreement. What term applies to this situation? Three sisters buy a home. They each have equal portions of possession, interest, time and title. They decide that upon death, the survivor will acquire their shares. What type of tenancy exists? The clause in a mortgage that permits the lender to declare the entire unpaid balance immediately due and payable upon default is called the: 3month Real Estate Pre-License Exam Prep/Guide-$49 Tip: Click the ("plain-text" link in this section to view all text in this description) ---- CHECK OUT www.PassRealtyU.com for better prices. After payment , YOU MUST EMAIL US AT PassrealtyU@yahoo.com TO GAIN ACCESS TO www.PassRealtyU.com CONTENT OF YOUR SUBSCRIPTION. so we can make an account for you on our website.. Or just get it from our website for faster service. CHECK OUT www.PassRealtyU.com for better prices. please include.. 1) your email 2) any Username you would like for our site 3) any Password you would like for our site 4) optional - receipt of payment made for the subscription accounts usually are created in minutes but please allow up to 24hours for your account to be created. we prefer email thank you!