Florida Real Estate Exam Practice

After retrieving written notifications from the landlord, intending to impose a claim for damages upon the security deposit of the tenant, how many days does the tenant have to object in writing to the deduction from the security deposit?

• 30

• 15

• 45

• 10

The lien that is superior or takes priority over each other is a what?

• Judicial lien

• Mechanics lien

• Property tax lien

• Federal lien

The monetary policy in the United States affects interest rates for home loans by controlling the availability of money. Who determines this monetary policy?

• The DBPR

• Monetary Policy

• Federal Reserve System

• The FREC Commission

A licensed real estate sales associate in the employ of a broker has what?

• The same obligation to the broker's client and customers as the broker.

• Same obligation to Principal

• Fiduciary Relationship.

• Seller's obligation

A sales associate has an argument with his broker and immediately goes to work for another broker. Which of these is a correct statement?

• Sales associates license is void

• Sales associate must be registered with FREC under the new broker before working there

• Sales associates license is involuntarily inactive

• Sales associate cannot work with another broker immediately

The cost of a mortgage states as a yearly rate that includes such items such as interest, mortgage insurance, and loan origination fees (points) is known as what?

• Gross Income Multiplier

• Annual Percentage Rate

• Annual Percentage Ratio

• Comparative Sales Approach

A beneficial interest in real estate which implies that an individual will receive legal title at a future date is known as what?

• Title

• Equitable title

• Liquidity

• Equity

The Comparative Market Analysis (CMA) is very similar to the comparative sales approach, which means?

• Adjustments are made to the comparable properties.

• Adjustments are made to the subject properties.

• Both A and B

• Neither

Anything that is permanently fastened or connected to land is what?

• Fixture

• Real property

• Lien

• Encumberance

Customarily, the state documentary stamp tax on the deed will show up on the closing disclosure as what?

• Credit to the buyer, unless agreed upon for the seller to pay for it

• Credit to the buyer

• Debit to the seller

• Debit to the seller, unless agreed upon for the buyer to pay it.