FLORIDA REAL ESTATE 2024 BUNDLED EXAM QUESTION AND ANSWERS GRADED A+

Joint Ventures - Answer- is a temporary form of business arrangement often encountered in real estate business. Trade Names - Answer- is a business name other than the legal name of the person doing business. The letters T/A are used to indicate "trading as." Chapter 120, F.S. - Answer- Ad...

When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate - Answer- the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs Which of the f...

A Business Broker - Answer- Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - Answer- Keeping in contact with the new owner after the closing of the sale A builder ...

Expert Information - Answer- The Product that a real estate sales associate must market Property Transfer Market Conditions How to market real estate and business - Answer- The three areas of expertise that real estate licensees bring to the transaction - Knowledge of Residential Commercia...

Owner - Answer- An owner who does not reside on the property and who usually relies on a property manager to supervise the real estate Agricultural, 10 - Answer- ___ property is defined in Florida license law to mean agricultural property of more than __ acres. Appraisal - Answer- The proces...

Brokers who list and sell smaller businesses are - Answer- business opportunity brokers. Before roadbuilding begins, a developer must submit a document to the local planning board for approval. The document is called a - Answer- subdivision plat map. Investors who don't live on the propertie...

Real estate investment trust that are formed to buy, own and manage investment projects are called - Answer- Equity trust What Fl statute created the Department of business and professional regulation - Answer- FL 455 Universal Agent - Answer- All matters by power of attorney General Agen...

A licensed real estate broker has been hired by a lender to appraise a home for a buyer who has applied for an FHA loan. Whch statement is TRUE regarding this situation? - Answer- The broker is required to be a state-certified appraiser to perform this appraisal assignment. Leasehold estate d...

Township - Answer- A square 6 miles on each side (6 miles square) containing 36 square miles (36 sections); also an (east-west) strip of land north and south of a baseline (tier). Section - Answer- A square 1 mile on each side (1 mile square) containing 1 square mile (640 acres). Quarter Sec...

Samuel wants to do a 1031 exchange. He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? - Answer- a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a...

Sales Associate License Qualifications (F.S. 475.17) - Answer- -18 Years of Age -High school diploma -Honest, Trustworthy, of good character and have a reputation for fair dealing -Does NOT have to be a Florida resident or U.S. citizent Custom Building - Answer- Building to the owner's specif...