Florida Law Quiz

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THE PRACTICE QUIZ DOES NOT KEEP SCORE (4 Wrong = 67%, 3 Wrong = 75%)
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  1. All of the following are people that can do acts of brokerage without a license except:
    1. An attorney in fact.
    2. An attorney at law.
    3. An attorney at will.
    4. A personal representative.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. In a particular sale, the broker's compensation is being paid by the buyer. In this case, which of the following is true?
    1. The broker would be a buyer's agent.
    2. The broker would be a seller's agent.
    3. The broker would be a transactional broker.
    4. The source of compensation does not determine representation.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. Under Florida Homestead laws:
    1. The Florida state legislature can change the Homestead laws.
    2. There is no limit to the value of a property that can be protected.
    3. The homestead exemption protects properties up to one-half of an acre inside a municipality, and up to 160 acres outside of a municipality if the property is the person's primary residence.
    4. Both B & C.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. A person who acts as a real estate broker or sales associate without a license:
    1. Is guilty of a felony of the third degree.
    2. Is guilty of a felony of the first degree.
    3. Is guilty of a misdemeanor.
    4. May not be punished under the license law, because they are not licensed.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. All of the following are grounds for the suspension or revocation of a license except:
    1. A sales associate collects a deposit in the name of their employer.
    2. A broker operates under a trade name that is not noted in the records of the Real Estate Commission.
    3. A salesperson operates as a sales associate for a broker that is not registered as his or her employer.
    4. A salesperson makes a false affidavit for use as evidence by the Real Estate Commission.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. A Transaction Broker must do all of the following except:
    1. Deal with all parties fairly and honestly, whether they are being represented or not.
    2. Disclose all known facts that materially affect the value of a property to a buyer, if he would not be able to determine that information himself.
    3. Perform any additional duties that are mutually agreed to with a buyer or seller.
    4. Disclose to a seller that a buyer is willing to pay more for a property.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!

  1. The Florida Real Estate Commission is made up of:
    1. Seven licensed members and two non-licensed members.
    2. Seven members appointed by the Governor, including five licensees and two members who have never been licensed.
    3. Five licensed brokers who have held a license for at least five years, and two non-licensed members.
    4. Seven members appointed by the Governor, and confirmed by the State Senate, including five licensed brokers who have actively licensed for at least five years, and two members who have never been licensed.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. The Real Estate Commission may suspend or revoke a license for all of the following except:
    1. When a licensee moves to another state.
    2. Being found liable in a civil proceeding, of filing a false complaint with the Department of Business and Professional Regulation.
    3. Has had a real estate license suspended or revoked in another state.
    4. Taking a listing with an automatic renewal provision.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. An agent is working with a buyer who has seen a house he loves, but is not for sale. The agent contacts the homeowners and tells them that they should sell their house because minorities moving into the neighborhood are bringing down property values, and they could lose a lot of money if they stay there. The agent is guilty of:
    1. Blockbusting.
    2. Steering.
    3. Redlining.
    4. Nothing. This is an acceptable business practice.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. Which of the following is true concerning agency relationships in Florida?
    1. A real estate licensee may work as a transaction broker or a single agent.
    2. A real estate broker may work as a disclosed dual agent.
    3. A real estate salesperson may work as a disclosed dual agent.
    4. All of the above.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. A transaction broker working with a seller must:
    1. Help the seller in their negotiations.
    2. Disclose to the seller that the buyer would be willing to pay more for their house.
    3. Deal fairly and honestly with the seller, and use skill, care and diligence in the transaction.
    4. All of the above.

 

 

 

 

 

 

 

 

 

 

YOU’VE BEEN STUDYING!

  1. Which of the following statements is true?
    1. An agent working with a buyer is presumed to be representing the buyer until another agency relationship is established in writing.
    2. If an agency relationship with a seller has not been established in writing, a licensee is presumed to be working as a transaction broker.
    3. The duties of a transaction broker must be disclosed in writing to a buyer or seller before a licensee writes a sales contract.
    4. All of the above statements are true.

 

 

 

 

 

 

 

 

 

 

CORRECT!

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