Azure Tide R eal Estate Final Exam 100% Verified Questions with Correct Answers 2024 How is practicing real estate without a license punishable as? - Correct Answer Third degree felony Without written permission, Phillip tells his buyer Tom, that his seller Mark is getting divorced and must sell the property quickly. Phillip is representing both Mark and Tom as a transaction broker. Phillip has violated which agency duty? - Correct Answer Limited confidentiality Maxine didn't understand the paperwork that an oil company had her sign when they started drilling for oil on her property. The guy that got her to sign the paperwork was very nice and told her she would never have to move off the property - but could sell it anytime if she chose. But when they struck oil, she wasn't entitled to any of the money from the oil. What rights had she signed over to the oil company? - Correct Answer Mineral Which of the following most accurately describes the statute of limitations? - Correct Answer Places a time limit on pursuing a legal remedy in relation to wrongful conduct Winnie failed to add to her application for a Florida real estate license the fact that she had previously been convicted of theft. Which statement is true? - Correct Answer Failure for Winnie to disclose the theft would be viewed as falsifying an application.All the following are acceptable to register with the DBPR as a real estate brokerage except which of the following? - Correct Answer Corporation sole Walden had an architect draw up plans for four different styles of homes. He then built four models matching the designs and offered to build similar homes to buyers. What type of construction method is this known as? - Correct Answer tract homes Which statement is FALSE regarding a net Listing? - Correct Answer Net listings are unilateral Contracts Brokers must retain a brokerage relationship disclosure documents for 5 years except in which of the following situations? - Correct Answer working with a buyer or seller as a transaction broker from the outset 1 / 2
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 Natasha is representing a seller as a single agent and is also working with the buyer. What type of relationship is she allowed to have with the buyer? - Correct Answer no agency relationship There are two parties to a mortgage. Which is the correct pairing? - Correct Answer Mortgagor = Borrower Joshua purchased property in Escambia County. Joshua put $30,000.00 as a down payment and obtained a new mortgage for $150,230.00. There was no other consideration for the transfer. How much will the documentary stamp tax on the deed be? - Correct Answer $1,262.10 Donna is the property manager for an apartment building complex. Sarah used to live in the complex but moved to a house recently. Sarah referred her sister, Pam, to Donna for Pam to become a new tenant.Donna paid Sarah $50 for the referral. Which statement about this situation is true? - Correct Answer This is illegal, per RESPA because Sarah no longer lives in the apartment building.What is the intangible tax when getting a new mortgage in the amount of $550,000.00? - Correct Answer $1,100 Under the Fair Housing Act of 1968, which category of groups are protected from discrimination? - Correct Answer national origin The Civil Rights Act of 1866 prevented discrimination based on being a member of which group? - Correct Answer race 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.You bought a home for $850,000. You put $100,000 down. You agreed to buy 3 discount points. How much did you pay for the points total? - Correct Answer $22,500
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