FL Real Estate Exam Review Questions and Answers 2024
Which statement is true regarding the use of the term REALTOR?
All real estate licensees are REALTORS
All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REALTOR ✔✔All REALTORS are members
of the National Association of REALTORS (NAR)
The term follow up refers to...? ✔✔what a sales associate does for buyers and sellers after the
sale
Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real property for compensation concerning a nonfederally related transaction ✔✔As long as she does not represent herself as a state-certified or licensed appraiser and complies with USPAP
The field of property management has experienced growth and specialization primarily because of...? ✔✔the increase in the number of absentee owners 1 / 4
Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice (USPAP) when conducting which value estimates? ✔✔Appraisals
Appraisers are paid a fee because ✔✔to accept compensation based on the appraised value is a
conflict of interest
The five major sales specialties do NOT include agricultural special use commercial businesses ✔✔Special use
The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of property for others is called ✔✔Property management
Which kind of construction involves building to buyer's specifications? ✔✔Custom homes 2 / 4
The term dedication as it applies to development and construction refers to...? ✔✔A gift of land
by the owner to the local government for public use
What type of license is required to sell or lease business opportunities for another person?
✔✔Real estate license
Selecting a limited geographical area in which a real estate professional develops special expertise is ✔✔Farming
Managing which type of property of more than 10 units requires a CAM license?
✔✔Condominium complex
Effective advertising involving developing a database of prospects to direct a specific message is called ✔✔Target marketing
A broker charges a prospective seller $50 for a comparative market analysis (CMA) . Which statement applies?
Brokers are not permitted to charge for CMAs 3 / 4
This is permissible, provided the broker does not represent the CMA as an appraisal The broker must be a state-certified appraiser to do this The CMA must be signed by a state-certified appraiser ✔✔This is permissible, provided the
broker does not represent the CMA as an appraisal
A licensed sales associate may operate ✔✔For the broker registered as the sales associate's
employer
A sales associate applicant is NOT required to comply with which requirement?
Subject to an application fee Be 18 years or older Be a bona fide Florida resident
Possess a Social Security number ✔✔Be a bona fide Florida resident
Which person does not meet the experience requirements to obtain a Florida broker's license?
An applicant who has held an active CA broker's license for the preceding 3 years
- / 4