Azure Real Estate Practice Exam 100 Questions with 100% Verified Correct Answers Latest Updated 2024 Which of the following statements is false regarding The Real Estate Settlement Procedures Act (RESPA)? - Correct Answer Kickbacks are said to harm consumers by driving down the cost of transactions.True: Title companies cannot give a kickback as a referral fee to a real estate licensee., Mortgage brokers can only pay other mortgage brokers a referral fee., Real Estate licensees can only pay other real estate licensees a referral fee.How is practicing real estate without a license punishable as? - Correct Answer Third-degree felony Lauren made an offer on a home. The seller countered her offer. Which statement is true? - Correct Answer Lauren's original offer was terminated by the seller's counteroffer.Which situation is not considered good faith doubt? - Correct Answer The broker transferred earnest money being held for a buyer and seller to the tile company to be accounted for as funds for closing.Stefanie had a rental property. There were 14 units. After she subtracted for collection and vacancy losses, she totaled $23,500 income for the month. What did she calculate? - Correct Answer Effective Gross Income Taylor was several months behind in her mortgage. She got a notice from the bank telling her that she now owed the full unpaid balance of the mortgage. What clause in a mortgage was activated by her late payments? - Correct Answer Acceleration In a metes-and-bounds description, what is the opposite direction of South 25 degrees East? - Correct Answer North 25 degrees West Which of the following statements is false based on the Statute of Frauds? - Correct Answer Option contracts can be verbal if for less than one year. 1 / 2
True: Purchase and sale real estate contracts must be in writing., Deeds and mortgages must be in writing., Lease agreements for more than one year must be in writing.When representing a seller and a buyer in the same transaction as a transaction broker and without written permission you tell the buyer the sellers motivation to sell, this a violation of which agency duty?
- Correct Answer Limited confidentiality
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The bundle of rights that a property owner has includes which of the following? - Correct Answer Control Andreniki has recently moved to the United States and is living in Georgia. She is not yet a U.S. citizen, but does have a U.S. social security number. Which statement is true about her application as a Florida real estate licensee? - Correct Answer Andreniki does not need to be a U.S. citizen to be eligible as a Florida real estate licensee.The FREC defines a Florida resident as someone that has resided in the state for a continuous period of how many months? - Correct Answer 4 months When the Department investigated a complaint against Mick, a licensee, the investigator believed that the charges were too serious to allow the licensee to practice real estate during the investigation and hearings. Which statement is true? - Correct Answer The DBPR Secretary could initiate a summary suspension against Mick to suspend his license until the matter was resolved.What is the percentage passing score on the real estate course exam? - Correct Answer 70 A building erected permanently on a property is considered what? - Correct Answer Real property When the judge ruled that the seller must sell his house, this is an example of what? - Correct Answer Specific performance Jan put an ad on Craigslist to advertise a house for sale. Because Jan thought more people would respond if they thought the house was selling by owner, she left off her broker's information and the fact that Jan was a real estate licensee. What is Jan guilty of? - Correct Answer Blind Advertising