Florida real estate license testing

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Last updated Finally, they need to know the most effective ways to market each of the listings they procure. To be an expert, a licensee does not need to know maintenance or insurance companies, nor be knowledgable on schools and populations of the area; this information would be helpful to the clients but is not determinant to the experience of the agent.

An agent should never provide information about mold or termites other than recommending the buyers to seek an inspection to avoid conflicts of interest or misrepresentations. It is a third-degree felony to falsify information on a license application. The social security number is required by Florida Law in all professional license applications to determine if the applicant is in compliance with child support obligations.

Florida Real Estate law does not require an applicant to be a US citizen or a legal resident of the country nor does it require a credit verification of the applicants. The broker has 15 business days to notify FREC in writing of the conflicting demands. From the time she received the conflicting demands, she has 30 business days to implement one of the four settlement procedures.

An unlicensed personal assistant is not allowed to show property, he cannot perform walkthrus neither he can answer questions regarding a listing unless he is reading this information on a written flyer or other document approved by the licensee.

Other clerical tasks, such as assembling documents for closing, having keys made for company listings, ordering inspections and gathering information for comparative market analysis are allowed by FREC. FREC, under its quasi-judicial responsibility, makes determinations of violations, imposes administrative penalties such as fines, carrys out suspension and revocation of licenses and also grants or denies applications.

But in the cases of criminal violations of the law, its responsibility is only to report such violations to the state's attorney. Prev Next Finish. Bookmark Page. A statutory deed in which the grantor makes no warranties to the grantee about the quality or extent of the title being conveyed is:. Special Warranty Deed. Bargain and Sale Deed. Quitclaim Deed. General Warranty Deed. Although real estate investment offers many advantages to an investor, it has some negative aspects as well.

Which of the following is not a characteristic advantage of real estate investment? Rate of Return. Equity Buildup. When a developer plans for a large project in Florida, studies need to be performed regarding the project's impact in the community before the city approves it. These studies are summarized in a:. Planned Unit Development filing. Environmental Impact Statement. Special Exceptions Rider. Developments of Regional Impact Statement. Mark bought a house in an old neighborhood and remodeled it with high-end materials.

He even hired a home decorator to give the last touches to it. The house looked beautiful, and Mark was pleased with it. However, a year later his employer offered him a better job in a distant location, and Mark decided to sell the house before relocating. After all, he would make good money on the sale because all the improvements he did to the house, and he will be able to buy in his new location instead of renting. The results of the report were very disappointing for him because the house has not acquired enough equity to make the profit he imagined.

This is an example of:. External Obsolencence. Market Conditions. Physical Obsolencence. All of the following are protections granted by the Florida Constitution to homestead property except:. Granting tax exemptions when assessing property taxes. Granting protection to the family in case of deceased of the titled owner. Granting protection of the size of homestead in case of Bankruptcy. Granting protection from enforcing of the vendor's liens. Florida Real Estate Contracts and Leases.

The four essential elements of a valid contract are:. The contractual capacity of the parties, Earnest money, Legal purpose, Consideration. Legal purpose, Consideration, Offer and acceptance, Notarization. Offer and acceptance, Consideration, Acknowledgment, Contractual capacity of the parties.

Consideration, Offer and acceptance, Contractual capacity of the parties, Legal purpose. Peter rents an office in a class A building in FL. The monthly payment includes the use of internet, electricity and cleaning. Peter has a:. Net lease. Don't spend too much in the first month. That's a classic management mistake. Advertising is overrated. Put all your energy into getting referrals. Apartment buildings may be an exception. Commercial sale specializations require a knowledge of income-producing properties, cash flow, and retail stores.

Still wondering if a career as a Florida real estate agent is right for you? Ready to take the Florida real estate sales associate exam? When you take a real estate pre-licensing course with Aceable you get more than the basics to meet the requirements. We give you extras like access to experts, interactive tools and free practice exams.

Content Summaries for Easy Review: Content summaries at the end of the learning modules help you easily review information. We understand what a powerful exam prep tool they are, which is why our students get to take Florida real estate practice exams for free. Additional terms and conditions do apply. State laws and regulations may prohibit some students from qualifying. Review our refund policy to learn more. Aceable has partnered with Prep Agent to help you get the best education possible to jumpstart your new career in real estate!

Through all of our online resources along with PrepAgents masterclasses in helping you prepare your pre-license real estate exam, you are sure to Ace or Don't Pay Guarantee.

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Our practice tests and real estate exam assistance will surely have you become a real estate professional in no time! Our pre-licensing course is designed to help you gain the knowledge you need to pass the exam. Make sure to look at a Real Estate practice exam to know what you should expect.

The real estate industry contributes to the U. When the many moving parts of the real estate sector move in-sync with one another, the United State economy hums along… spinning on all wheels.

However, the real estate industry tends to be cyclical, similar to the recurrent patterns of the economy. Think about the recession; use it as a reminder as to what happens when an overheated and unsupported real estate price escalation takes hold.