Question Set 3

Question Set 3 (ANSWERS WILL BE REVEALED WITH PROPER SUBSCRIPTION)

Questions Set 3 with no answer

1. Developers who build several model homes for a
   buyer’s selection to be built in a subdivision are
   said to be building what type of homes?

2.

According to state law, the size of a piece of
property to be considered agricultural land is?

Question Set 3

3.

Acting as a real estate agent without proper
licensing , can the person ever get a proper real estate license in the future?

4.

Which individual must have a
real estate license if performing the stated
activities for a fee for another person?

5.

What’s the experience requirement for a sales associate to
become a broker is?

6.

If Broker A’s license has been suspended, what
happens to the sales associates under Broker A?

7.

Seller A is represented by a real estate broker.
Buyer B has no representation in this transaction.
Buyer B is considered a?

8.

Sales Associate A and Sales Associate B work for
the same broker. Sales Associate A takes a listing
and is hired as a single agent to sell a house. Sales
Associate B is hired as a single agent by a buyer.
Sales Associate B shows the listed house to his
principal. What best describes
this situation?

9. When buyer and seller make conflicting demands
   regarding the disbursement of escrow funds, the
   first thing the broker must do is?

10. Brokers who provide information on rental units for a fee must return what percentage of the fee if an unsuccessful tenant requests it within 30 days?

11. Name something that is true about the powers of
    the Florida Real Estate Commission can impose on a broker?

12. In order for a person to be compensated by the
    Florida Real Estate Recovery Fund, name 1 thing that must be true?

13. A broker who does not properly supervise her
    sales associates, resulting in license law violations
    by those associates, is guilty of?

14. A bank refuses to make loans in a particular geographic area because of declining property values. This practice is called?

15. Name who is exempt from federal fair housing laws?

16. A borrower is given a special information book,
    a good faith estimate of closing costs, and a
    servicing disclosure statement when he applies
    for a mortgage loan. What law is this in
    accordance with?

17. Payment of a fee by a mortgage broker to a real estate broker for referring a client is legal or illegal?

18. A, B, and C own property as joint tenants. Person A sells her share to Person D. What is the new status of the ownership between B,C and D??

19. Upon the death of a person who owns property in joint tenancy, her interest goes to who?

20. Name the  requirements for a valid deed?

21. Owner A buys property near a lake and crosses his
    neighbor’s property every day for more than 20 years to get to the lake. At this point, having never discussed the matter with his neighbor, Owner A has most likely acquired what with respect to his neighbor’s property?

22. A metes and bounds description starts at what point?

23.What mathematical expression is used to calculate the size of a parcel in the
government survey system?

24. Which form of legal description may combine the
    other forms?

25. According to Florida law, in order to be valid, listing contracts should be in what form?

26. A building contractor cannot finish a project on a
    house that he agreed to do. The homeowner and
    the contractor agree that a new contractor will take over the project with terms relieving the original contractor from any further obligation. What type of agreement is this?

27. The FHA does not lend money to purchase what type of properties?

28. Name something that is NOT referring to a type of mortgage payment plan?

29. Name 1 thing that is true about FHA loans?

30. The VA loan program will guarantee loans for what value?

31. In seller financing of a home purchase, who is the mortgagee and who is the mortgagor between buyer and seller?

32. In an adjustable-rate mortgage, the number that changes in the equation is called?

33.What type of notice is provided by recording the deed after a closing?

34. A new mortgage from a bank will appear on which side of the statement and a credit to who?

35. An item paid in arrears is debited and credited to who between the buyer and seller?

36. Florida state law places primary responsibility for accounting and delivery of funds in connection with a closing onto who?

37. Net operating income does not include consideration of which payment/payments?

38. Net operating income does include consideration of which amounts?

39. The average sales price for your subject property
    is $300,000, which is 10% below the asking price
    after three months on the market. The house you
    are looking at to use as a comparable for your
    competitive market analysis sold at full asking
    price, after only two weeks on the market. Is this
    property a good comparable sale for you to use in
    your CMA?

40. Name a statement between cost and value that is true?

41. The best definition of an appraisal is a(n)?

42. Pouring the concrete in two separate pours is a
    characteristic of what type of foundation?

43. Which gauge wires will be able to carry the most electrical current?

44. Name an advertisement statement that does not
    result in a real estate school’s license being
    suspended?

45. Sales Associate A and Sales Associate B work for
    the same broker. Sales Associate A takes a listing
    and is hired as a single agent to sell a house. Sales
    Associate B is hired as a single agent by a buyer.
    Sales Associate B shows the listed house to his
    principal. Which of the following best describes
    this situation?

46. —

47.

The relationship that provides the most complete
set of duties to a principal is?

48. Name an example that does not exempt from federal
    fair housing laws?

49. Deposit of escrow funds with the court pending a
    decision on disbursement is called?
    50. What is true about FHA loans?

    51. Who does not buy mortgages?

    52. Additional tax exemptions may be available for all
    except for which groups?

    53. The relationship between demand and price for real estate is?

    54. What term would best describe
    a project that would impact more than one county?

    55. What is the primary goal of the government in controlling nonconforming uses?