Real Estate

Front 1

A written no brokerage relationship notice must be provided customers

Back 1

Before showing homes that are listed

Front 2

The Federal Reserve cannot change or control the money supply by

Back 2

Altering income tax rates

Front 3

A broker has an exclusive right of sale listing to sell in on this property, with no other authority granted. What type of agency does the broker have with the principal

Back 3

Special agency

Front 4

Licensee is being disciplined by the Florida real estate commission for multiple violations of Florida Statute 475. Which penalty may the commission not impose

Back 4

A fine not to exceed $5,000 and/or imprisonment not to exceed one year

Front 5

A judgment is awarded against a licensee for $100,000. What is the maximum the complainants maybe come to the fore from the real estate recovery fun

Back 5

50%

Front 6

What term is applied to the practice of keeping low income people out of a particular neighborhood

Back 6

Exclusionary zoning

Front 7

A transaction broker

Back 7

OHS limited confidentiality to both parties

Front 8

broker Jones committed fraud in a real estate transaction involving six investors in a limited partnership. What is the maximum recovery possible from the real estate Recovery Fund the results in a single judgments as a result of a fraudulent activity

Back 8

50,000

Front 9

A mortgage your default it on his loan payments, as the lender foreclosed. Some states allow the party that was foreclosed the right to redeem the properties following foreclosure. Where applicable, this right is called a

Back 9

Statutory rights of redemption

Front 10

The comparable sales approach usually cannot be used when estimating the value of

Back 10

Special-purpose properties

Front 11

Expenses on a closing statement are

Back 11

Always debits

Front 12

Original Morgan sure is not released from liability if title to real property is taken

Back 12

Subject to the mortgage

Front 13

The purpose of the closing statement is to

Back 13

Summarize and simplify the transaction

Front 14

An acknowledgement of a deed

Back 14

Can be taken by an officer of the State

Front 15

The Federal Reserve Board is charged with the responsibility of monitoring and controlling the supply of money and cost of credit. What actions could use to cause an increase in interest rates

Back 15

Selling government securities, increasing the reserve requirements, increasing the discount rate

Front 16

Which statement regarding a Planned Unit Development PUD is correct

Back 16

Commercial and industrial developments are not permitted

Front 17

The rate for documentary stamps are determined by

Back 17

States law

Front 18

what advantage might a homeowner derive from it corner lots

Back 18

Flexibility in design

Front 19

The form for closing statements is determined by

Back 19

Closing agents

Front 20

Concerning all FHA - VA mortgages which statement is correct

Back 20

Borrowers must meet minimum requirements

Front 21

The equity of redemption may be exercised

Back 21

Until the time of foreclosure

Front 22

What type of study deals with local businesses activity

Back 22

Economic base analysis

Front 23

what made broker not deposit into escrow

Back 23

Personal funds in excess of FREC limits

Front 24

The 1988 fair housing Edmunds act expanded on the Civil Rights Act of 1968 to include banning discrimination on the basis of

Back 24

Handicap

Front 25

The monthly payments under FHA 203 B may not include

Back 25

Private mortgage insurance PMI

Front 26

To whom is the original judgments assigned when money is to be paid from the real estate recovery fun

Back 26

Florida real estate commission

Front 27

what municipal ordinances specify the standards for altering, remodeling and new construction

Back 27

Building codes

Front 28

A summary suspension is ordered by the

Back 28

Division of administrative hearings

Front 29

The Federal Reserve action taken to affect interest rates are known as

Back 29

Monetary policy

Front 30

Savings associations compete for new monies to make mortgage and construction loans with

Back 30

All other lenders and users of money

Front 31

Who are the parties involved in a deed of trust

Back 31

Beneficiary, trustee, trustor

Front 32

Heat pumps are used to

Back 32

Provide heating and cooling

Front 33

The first step in an appraisal is to

Back 33

Define the problem

Front 34

Is the subject property has 3 bedrooms the comparable property has 4 bedrooms and a bedroom is worth $5000 the correct adjustment is to

Back 34

Subtract five thousand dollars from the comparable properties

Front 35

A relatively new four bedroom home with only one bathroom would be an example of

Back 35

Functional obsolescence

Front 36

One example of external obsolescence is

Back 36

He freeway constructed adjacent to a lot

Front 37

What type of depreciation cannot be recovered

Back 37

Physical depreciation

Front 38

What document would be used to return title to a trust or 18 deed of a trust is satisfied

Back 38

Reconveyance deed

Front 39

Appraiser estimating the value of a three year old home in a rural area should be most concerned with

Back 39

Physical depreciation

Front 40

What appraisal principles states that homes in a neighborhood of similar homes should have similar value

Back 40

Conformity

Front 41

When net income increases present value

Back 41

Increases

Front 42

To avoid an undue hardship imposed by zoning regulations, a property owner may request

Back 42

A variance

Front 43

A house valued comparable to all houses in the neighborhood was assessed at a tax base five thousand less than the others. Excluding any special tax exemptions, the properties should sell for

Back 43

Less than the others

Front 44

Prior to acceptance of an offer the earnest money deposit belongs to be

Back 44

Buyer only

Front 45

When a seller takes back and second mortgage, it is entered on a closing statements as a

Back 45

Debits to a seller

Front 46

Leverage is used with the expectation of

Back 46

Increasing the yield on an investment by using borrowed money

Front 47

Which party normally pays for documentary stamps on the deed

Back 47

The seller

Front 48

By what right does the government enforce zoning regulations

Back 48

Police power

Front 49

What does Freddie Mac stand for

Back 49

Federal Home Loan Mortgage Corporation

Front 50

When the mortgagor fulfills all obligations under the notes, what clause protects his rights to the property

Back 50

Defeasance

Front 51

A cheap party arrangements that uses the property as security, and creates a lien on the property that may be removed by foreclosure, is known as

Back 51

Mortgage

Front 52

Which terms are essentially the same

Back 52

1/36 -Township/section

Front 53

What is deducted from potential gross income to calculate effective gross income when using the income capitalization approach to appraising?

Back 53

Vacancy and collection los

Front 54

What is the maximum amount of a VA guaranteed loan

Back 54

No maximum

Front 55

What a mortgage is paid in full, which documents should be delivered to the mortgagor?

Back 55

Satisfaction

Front 56

Real estate physically is

Back 56

immobil

Front 57

The purpose of an estoppel certificate is to

Back 57

Provide information to the mortgagee or mortgagor

Front 58

Chapter 475 identify certain activities that are classified as first-degree misdemeanors. This includes violation of

Back 58

Rental fee requirements

Front 59

In which federally designated floodplain needed is elevated construction mandatory

Back 59

V zone

Front 60

and honor promises to give a listing to only one broker, setting forth the price, terms, time and commission, but reserves the right to sell the property without paying any commission. What type of lifting has the seller given?

Back 60

Exclusive

Front 61

which disciplinary action to the Department of Business and Professional Regulation and pose for a violation of chapter 475

Back 61

Citation

Front 62

What type of listing best protects the broker

Back 62

Exclusive right of sale

Front 63

If a husband and wife both signed a note indicating that they are jointly and severally liable for the debts

Back 63

Both parties are liable collectively

Front 64

What is the only ones found in a bargain and sale deed

Back 64

Seisin

Front 65

The following are all residential roof styles

Back 65

Hip, mansard, gambrel

Front 66

Building activities related to the business cycle, the initial phase of the business cycle is expansion. What is the correct order for the other phases?

Back 66

Peak, contraction, trough

Front 67

Jones cell a personal property to Mason, who there after lisa the property to Jones the seller has entered into a

Back 67

sale - lease back

Front 68

Valuable consideration

Back 68

Could be a promise

Front 69

If a broker is escrew agents, and the dispute arises concerning the disposition of escrow funds, what should the broker first action

Back 69

Notify the real estate commission

Front 70

Encumbrance affects the

Back 70

Title

Front 71

Most household electrical circuits are limited to how many amperes?

Back 71

15

Front 72

Which method of describing property would not be utilized by license surveyor in developing a legal description

Back 72

Street number and address

Front 73

The city of Sunnyvale Florida owns one third of all real property within the city limits including schools, I ways, right-of-ways, public buildings, and common areas. How is this a text on his properties

Back 73

Not at all

Front 74

It's no claws peers in a contract concerning temperatures, any damages awarded as result of breach of contract are

Back 74

Unliquidated

Front 75

How many acres are contained 136 of a township

Back 75

640

Front 76

To help prevent fraudulent documents from being placed in the public record, the documents are

Back 76

Acknowledged by an officer of the state

Front 77

Your license see that has appealed decision by the Florida real estate commission regarding a disciplinary action may have his or her license privileges restored by

Back 77

Writ of mandamus

Front 78

General warranty deed

Back 78

State the grantor will defend against all lawful claims

Front 79

Departments can subpoena

Back 79

Anyone talk to have information or evidence pertinent to an investigation

Front 80

The most comprehensive form of real property ownership is

Back 80

Fee simple estates

Front 81

Following expiration of your license, sales associates me

Back 81

Collect Commission illegally earned before the expiration date

Front 82

A contractor agreed build a house on an owners property. This is an example of

Back 82

Custom building

Front 83

Enlisting would not terminates as a result of

Back 83

Destruction of the improvements

Front 84

Which wiring combination would be used to operate a 240 volt electric central air conditioning system

Back 84

Two hot leads + 1 neutral wire

Front 85

What is required to create a joint tenancy

Back 85

The four unities

Front 86

If the seller revoked and exclusive right to sell listing without cause and it sold the property to a neighbor, which statement would be true

Back 86

The brokerage a commission based on the sales price