IFREC Dear Student - Sales Assc

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Selection of Questions from IFREC

Quiz--Chapters 1 & 2
Serving Central Florida Since 1983
1. Building or construction is considered part of which type of real estate business?
a. subdividing
b. land development
c. marketing
d. financing

B

2. A real estate appraiser's fee should be based upon:
a. a percentage of gross income.
b. a percentage of fair market value.
c. the amount of time spent and difficulty of appraisal.
d. a percentage of selling price.

C

3. The prospective member ofNAR must subscribe to high professional standards expressed in the:
a. Code of Ethics.
b. Florida Real Estate Handbook.
c. Standards of Business Conduct.
d. Handbook of Professional Practice.

A

4. A real estate broker or sales associate is one who performs all of which of the following
functions relating to real property for direct or indirect compensation?
a. appraises, auctions, sells, exchanges, fertilizes
b. auctions, appraises, measures, leases, exchanges, sells rental property information
c. auctions, sells, appraises, exchanges, buys, rents, leases, advertises real estate services
d. exchanges, buys, rents, finances, appraises, sells rental property information

C

5. The purpose of laws regulating real estate practitioners is to:
a. limit the number of people who can enter the real estate business.
b. ensure that real estate practitioners attain high levels of competence.
c. prevent the entry of unscrupulous, out-of-state land dealers.
d. protect the public.

D

6. The terms "real estate broker" or "real estate sales associate" apply to all of the following except:
a. persons selling, exchanging or leasing industrial property.
b. persons selling, exchanging or leasing property as a court appointee.
c. persons selling, exchanging or leasing condominiums for longer than one year.
d. persons selling, exchanging or leasing beach property.

A

7. The regulatory agency for real estate practitioners in Florida is:
a. FAR.
b. SEC.
c. FREC.
d. BRE.

C

8. What minimum age is necessary for licensure?
a. 18 years
b. 21 years
c. 30 years
d. No minimum age required

A

9. The initial licensure of an applicant must be for what classification?
a. sales associate
b. broker
c. broker or sales associate
d. whatever category is most appropriate

A

10. Under what type of employer other than a licensed broker may a sales associate be licensed?
a. broker-sales associate
b. out-of-state broker
c. property owner/developer
d. attorney

C

11. What status gives one the right to obtain a license?
a. resident of Florida
b. high school graduate
c. U.S. citizen
d. licensure

D

12. In addition to having licensure status, what must one have in order to act lawfully as a broker or
sales associate?
a. license
b. driver's license
c. high school diploma
d. voter registration card

A

13. All of the following types of competence of knowledge are tested on the license examination
except:
a. ability to sell real estate.
b. nature of fraud and fraudulent conduct.
c. nature of deeds, abstracts, contracts and mortgages.
d. licensure and other details of the law.

A

14. In Florida, to be eligible for licensure as a broker, a sales associate must fust:
a. be licensed for 24 months with one or more brokers within the preceding five year period.
b. be licensed with one broker for 6 months.
c. be licensed with one or more brokers during any period.
d. be licensed as a broker/sales associate.

A

15. An applicant for licensure as a sales associate must meet all of the following requirements
except:
a. be a natural person.
b. be a resident of Florida.
c. complete a sixty hour educational course.
d. provide information regarding any convictions or nolo contendere pleas the applicant may
have had in the past.

B

16. What is the licensing requirement for individuals who deal in business enterprises or business
opportunities?
a. they must be licensed as real estate brokers or sales associates
b. they must be licensed as mortgage brokers
c. they may be licensed as real estate brokers or sales associates or as mortgage
brokers, at their own option
d. they are not required to hold any license

A

17. Partners in a real estate brokerage partnership who do not deal with the public in a sales capacity
must hold what type of status?
a. active broker
b. active sales associate
c. registration
d. voluntary inactive

C

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 3
1. The Director of the Division of Real Estate in DBPR is appointed by whom, subject to approval
by a majority of the Florida Real Estate Commission?
a. governor
b. governor with approval of the Florida Senate
c. secretary, DBPR
d. chairman, FREC

C

2. The administrative officer employed by DBPR and assigned to the Commission to be responsible
for the day to day administration of Commission business is the:
a. General Counsel.
b. Director, DRE.
c. Chairman.
d. Secretary.

B

3. In a real estate brokerage business partnership, each partner who expects to deal with the public
as a broker:
a. need not be licensed, since the partnership must be licensed.
b. must be registered as Involuntarily Inactive.
c. must be registered as Voluntarily Inactive.
d. must be licensed as an active broker.

D

4. The Florida Real Estate Commission is contained within which State department?
a. Department of Administration
b. Department of Commerce
c. Department of Community Affairs
d. Department of Business and Professional Regulation

D

5. The Florida Real Estate Commission is composed of how many members?
a. seven
b. four
c. five
d. three

A

6. All of the following functions come under the powers or duties of the Commission except:
a. Investigate persons doing real estate business in the state.
b. Enact by-laws and regulations for its own use.
c. Determine a reasonable per diem and mileage for members of the Commission attending
Commission meetings.
d. Prescribe minimum educational courses for real estate brokers and sales associates.

C

7. The members of the Commission are:
a. elected by the State Senate.
b. appointed by the State Senate.
c. elected at large.
d. appointed by the Governor and confirmed by the Senate.

D

8. Rules promulgated by the Commission are:
a. extensions of the law.
b. designed to specify and implement the law.
c. laymen's interpretation of the law.
d. none of the above.

B

9. The Florida Real Estate Commission consists of:
a. five members who have been active brokers for ten years and two lay members.
b. three members who have been active brokers for ten years and one lay member.
c. five members who are brokers and two lay members.
d. four members who have been active brokers for five years preceding appointment, one
member who has been an active broker or sales associate for two years preceding
appointment and two consumer members.

D

10. How long is a license year?
a. one year
b. two years
c. three years
d. indefmite

B

11. An involuntary inactive license may be maintained for no longer than:
a. 12 months.
b. 10 years.
c. 2 years.
d. 4 years.

C

12. The continuing education course must be taken:
a. every two years after renewal of a licensee's initial license.
b. every four years after renewal of a licensee's initial license.
c. every year after renewal of a licensee's initial license.
d. every other renewal period after renewal of a licensee's initial license.

A

13. If any type of license is lost or destroyed:
a. the holder must wait until the new license year to replace the license.
b. the holder should type a new license having approximately the same wording and dates as
appeared on the original.
c. a new license will be issued without fee.
d. a new license will be issued upon payment of $25.

D

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 4
1. Who has responsibility to operate in a fiduciary capacity when a principal secures the services of
a broker?
a. the broker only
b. both the broker and the principal
c. the principal only
d. neither party

B

2. A single agent broker acts on behalf of his employer also known as the:
a. buyer.
b. seller.
c. agent.
d. principal.

D

3. The parties referred to by the Law of Agency as having a fiduciary relationship are:
a. buyer-seller.
b. principal-agent.
c. broker-sales associate.
d. sales associate-client.

B

4. The rules which govern a broker's dealings with his principal also govern the sales associate in
his dealings with:
a. only the principal.
b. both the principal and his broker.
c. all other real estate practitioners.
d. the Commission and its agents.

B

5. It is the duty of a single agent broker to obtain:
a. the highest price possible.
b. the most favorable price and terms from the standpoint of the principal.
c. the lowest price possible.
d. the most favorable price and terms with regard to his own commission.

B

6. Which of the following is true regarding a broker's employment?
a. the broker may delegate his fiduciary responsibilities to another broker
b. a broker has the implied authority to reject unreasonable offers to his principal
c. a broker is obligated to obey arbitrary instructions given by his principal
d. a broker may buy his principal's property and resell at a profit to the prospect

C

7. When Broker B arranges a transaction such that he received compensation higher than customary
without the knowledge of his principal he is said to:
a. receive an overage.
b. commit conversion.
c. create usury.
d. have commingled.

A

8. Harmful information that a broker learns about his or her principal may be disclosed when?
a. at any time
b. during the period of the fiduciary relationship
c. after the transaction is completed and the fiduciary relationship is dissolved
d. never

D

9. When is a broker justified in acting contrary to instructions of his or her principal that do not
require the broker to commit fraud or otherwise violate the law?
a. when the broker believes a loss will result to the principal
b. when the broker believes that a more beneficial transaction may be obtained within a
reasonable time
c. when the broker believes the principal does not fully understand the provisions of an offer
d. never

D

10. A fiduciary relationship arises from the:
a. trust and confidence between parties.
b. specific promise of one party to be loyal to the other party.
c. valuable consideration in the employment contract.
d. actual or implied requirement for one person to protect the interests of another person.

D

11. It is fraudulent and dishonest for a broker or sales associate to:
a. offer for sale a property to which he knows title is not merchantable and about which he does
not inform the purchaser.
b. offer for sale any property which he knows is covered by mortgage which also covers other
property sold and which can be released only by payment of an amount greater than that
remaining due from the purchaser after the sale.
c. procure, influence, or induce a person to buy a property by promising that he, his employer (if
a sales associate), or the owner will resell or repurchase the property at a future time.
d. all of the above.

D

12. The relationship between broker and principal is known as a:
a. beneficent.
b. trustee relationship.
c. caveat emptor relationship.
d. fiduciary relationship.

D

13. The two relatively distinct areas in which fraudulent conduct may arise are:
a. negligence and concealment.
b. conversion and conspiracy.
c. concealment and misrepresentation.
d. caveat emptor and fiduciary relationships.

D

PRINCIPLES & PRACTICES I
Practice Quiz--Chapters 5
1. A sales associate:
a. must maintain an office that is licensed with the Commission.
b. may have an office but is not required to do so.
c. must be licensed from and work out of an office maintained and licensed in the name of the
employer.
d. may not be associated with any office.

C

2. When there is a dispute between parties to an uncompleted transaction over a deposit held by the
broker or the broker is in doubt as to who is entitled to a deposit, the broker should:
a. split the deposit between parties.
b. keep it himself until an agreement is reached.
c. ask his lawyer what to do.
d. notify the Commission and seek its advice.

D

3. A broker's sign is required to contain:
a. the licensed trade name only.
b. the personal name and the name(s) of any active partners operating under that name.
c. the brokers trade name and personal name.
d. any name desired.

C

4. All of the following types of business organizations may act as real estate brokers except:
a. corporations sole.
b. business trusts.
c. unincorporated associations.
d. all of the above.

D

5. An earnest money deposit must be placed in a segregated escrow account in a Florida:
a. commercial bank only.
b. commercial bank, savings association or credit union only.
c. commercial bank, savings association, credit union, attorney with trust powers or title
company only.
d. commercial bank, savings association, title company or life insurance company only.

C

6. When does a broker's legal duty to account for and deliver to the parties to a transaction all
funds, deposits, abstracts, mortgages, conveyances, leases, and so on, normally end?
a. after the contract for sale is signed
b. after closing is completed
c. after all contingencies in the contract are satisfied
d. never

B

7. What is a partnership?
a. an artificial person created by law
b. an arrangement whereby two or more persons engage in business together although no
agreement concerning the sharing of profits and losses exists
c. an arrangement whereby two or more persons engage in business together with an express or
implied agreement concerning the sharing of profits and losses
d. any arrangement of three or more persons doing business

C

8. A sales associate or broker-sales associate may have no more than how many registered
employers at any one time?
a. one
b. two
c. three
d. any number

A

9. Which of the following types of business organizations rna y act as real estate brokers?
a. corporations for profit
b. general and limited partnerships
c. joint ventures
d. all of the above
10. All of the following are true about a broker's business except:
a. a broker must maintain an office during the time his license is active.
b. there must be a sign with the broker's name and the word "Realtor" at the entrance to his
office.
c. a broker is liable for the acts of his salespeople.
d. a broker must report all purchase offers to his principal.

D

11. A limited partnership consists of what type of partner(s) in addition to the limited partners?
a. active
b. non-active
c. general
d. specific

B

12. Officers and directors of a corporation who expect to be actively engaged in the real estate
business become licensed:
a. by virtue of their offices without necessarily being qualified personally.
b. automatically through licensing of the corporation.
c. by filing appropriate documents with the Secretary of State.
d. in the same manner and procedure as any other applicant for active licensing.

C

13. Licensing of a broker's branch offices is required if:
a. brokerage operations are to be conducted at the place.
b. the office is more than a temporary shelter and transactions are closed there.
c. salespeople are permanently assigned there.
d. all of the above.

D

14. Regulations pertaining to signs specify that:
a. one sign per firm must be maintained.
b. each sales associate must maintain a sign.
c. signs are permissible but not required.
d. every licensed broker must maintain a sign for each office.

D

15. A trade name may be registered and used by:
a. an individual broker.
b. a corporation or partnership broker.
c. an individual, corporation or partnership broker.
d. an individual broker, provided the individual also uses his or her real name.

C

16. In order to be licensed, a corporation must have a minimum of how many active officers?
a. one
b. two
c. three
d. none

A

17. Regarding advertising of listings, sales associates are:
a. required to advertise under their own names.
b. permitted to advertise under their own names.
c. permitted to advertise under their own names with supervision from the employer.
d. prohibited from advertising under their own names only.

D

18. A deposit serving as earnest money is limited to:
a. cash.
b. cash and currency.
c. cash, currency and securities.
d. cash, currency, securities and any other medium of exchange that can be held or converted
into cash or bank credits.

D

19. A real estate sales associate who receives a deposit from a prospective buyer should
immediately:
a. deposit the funds in the sales associates personal account.
b. deposit the funds in an escrow account.
c. deliver the funds to the sales associate's broker or employer.
d. deposit the funds with the Real Estate Commission.

C

20. All records pertaining to a broker's escrow account(s) are subject to inspection at all reasonable
times by:
a. buyers and sellers.
b. the Department or its authorized representatives.
c. the State Attorney General.
d. the public defender.

B

21. The earnest money held by a broker must be:
a. held in trust for the purchaser.
b. deposited in a separate account.
c. returned to the purchaser if the seller fails to tender good title.
d. all of the above.

D

22. A broker holds a deposit in trust for the account of the purchaser until which of the following
actions?
a. transaction is consummated
b. deposit is forfeited
c. seller refuses to sell or meet the terms of sale
d. any of the above actions

D

23. If a sales associate believes that a brokerage commission has been unjustly withheld from him,
he may take legal action against:
a. the employing broker only.
b. the client.
c. both the broker and client.
d. anyone the sales associate believes is contributing to the withholding.

A

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 6
1. A defendant may seek to have a final order reviewed by the:
a. Florida Supreme Court.
b. District Court of Appeals.
c. County Court.
d. hearing officer.

B

2. If a person, corporation, or partnership is illegally acting as a broker or sales associate or is
otherwise in violation of the law, orders, rules, regulations or by-laws of the Commission, the
Department may apply for a(n):
a. writ of certiorari.
b. motion to quash.
c. writ of termination.
d. injunction or writ of mandamus.

D

3. The Florida Administrative Procedure Act provides procedural due process safeguards in all
adjudications by:
a. courts.
b. administrative agencies.
c. professional associations.
d. publicly owned corporations.

B

4. Upon termination of suspension, a licensee's license:
a. is automatically reinstated.
b. is automatically revoked and a new license is issued.
c. will be reissued or renewed only if the licensee shows that he or she has not acted as a broker
or sales associate during the suspension period.
d. automatically lapses and the licensee must reapply for a license as any new applicant.

C

5. Probable cause of violations of the Florida Real Estate License Law is determined by:
a. the DBPR investigation section.
b. the DBPR examination section.
c. the Chairman of FREC.
d. the probable cause panel.

D

6. Loss or damage resulting from carelessness, improvidence, folly or omission of something a
reasonable, prudent, honest person would do is covered by which term?
a. culpable negligence
b. fraud
c. conversion
d. conspiracy

A

7. Whenever an issue of material fact appears in a formal proceeding to deny, suspend or revoke a
license, who is appointed to receive and report the testimony of witnesses and other evidence
offered by the parties?
a. attorney
b. administrative law judge
c. investigator
d. educator

B

8. If a licensee violates the statutes or rules and regulations of the Commission, a court may punish
the licensee by:
a. five years in jail.
b. a fme of not more than $500 and imprisonment for not more than 60 days.
c. a fine of not more than $2,000 and imprisonment for not more than 6 months.
d. courts have no jurisdiction over persons licensed with the Commission.

B

9. Types of penalties which the Commission may impose for violation of the statutes, rules or
regulations are:
a. forfeiture.
b. jail terms.
c. fines and jail terms as well as probation and suspension.
d. fines, reprimand, citations, probation, denial, suspension or revocation of license.

D

10. Which of the following actions or situations are grounds for revocation of licensure?
a. licensure and/or license obtained by fraud, misrepresentation or concealment
b. licensure and/or license granted by mistake or inadvertence by the Commission
c. confinement in a state or federal prison
d. all of the above

D

11. An Administrative Complaint is:
a. another name for a judgment.
b. an indictment.
c. an outline of charges against a broker, sales associate or applicant.
d. an examination.

C

12. How many times must a licensee ordinarily be found guilty of misconduct that warrants
suspension before his licensure may be revoked?
a. once
b. twice
c. three times
d. the Commission may suspend or revoke at its discretion

B

13. If a broker mishandles or misappropriates earnest money deposits, the broker's license may be:
a. denied.
b. suspended.
c. revoked.
d. either b or c.

D

14. If a licensee commits a crime of moral turpitude (such as embezzlement, larceny, robbery, rape,
kidnapping, perjury or blackmail), the Commission may:
a. take no action since these crimes are beyond its jurisdiction.
b. suspend license.
c. revoke license.
d. suspend or revoke license.

D

15. Which of the following categories is the most inclusive list of those who may file a complaint
against a licensee?
a. any non-licensee
b. any licensee
c. the Commission
d. any person or the Department

D

16. Failure of an active broker to maintain an office, operating without current and valid license,
failure to handle escrow funds properly, use of false advertising, false promises, tricks, blind ads,
fraud, culpable negligence or misrepresentation may result in:
a. suspension.
b. jail.
c. revocation.
d. any of the above.

D

PRINCIPLES & PRACTICES I
Practice Quiz--Chapters 7 & 8
1. The Civil Rights Act of 1866 prohibits discrimination on the basis of:
a. race.
b. race, religion.
c. race, religion, sex and national origin.
d. all of the above.

A

2. A licensee may not be a party to any plan to discriminate against any person on the basis of race,
color, religion, national origin, familial status, handicap or:
a. sex.
b. economic status.
c. social status.
d. politics.

A

3. If a landlord requires a security deposit which is held over three months, the landlord must:
a. keep the deposit in an account for the tenant.
b. post a surety bond with the Clerk of the Circuit Court.
c. either a or b.
d. neither a nor b.

C

4. In conveying an interest in real property to another party, legal title is conveyed in all of the
following except:
a. an estate for years.
b. a fee simple estate.
c. an estate by the entireties.
d. a life estate.

A

5. Time sharing projects in Florida are regulated by the:
a. Florida Real Estate Commission.
b. Department of Community Affairs.
c. Division of Florida Condominiums, Timeshare and Mobile Homes
d. Department of Housing and Urban Development.

C

.
Questions 6-8 refer to the following situation:
Able, an owner in fee simple, deeds land to Baker to enjoy until he dies, at which time Charlie
will receive title to the land.

X

6. Baker's interest in the land is known as a:
a. fee simple estate.
b. life estate.
c. remainder estate.
d. estate for years.

B

7. Charlie's interest in the land is a(n):
a. reversion estate.
b. remainder estate.
c. estate for years.
d. joint estate.

B

8. Suppose Baker mortgages the land to Darwin, then sells the land to Edgar. Baker subsequent!)
dies. Title to the land is held by:
a. Edgar, encumbered by the mortgage.
b. Charlie, encumbered by the mortgage.
c. Baker's heirs.
d. Charlie, in fee simple.

D

9. For what period does a time-share purchaser have the right to cancel the contract?
a. 10 days
b. 20 days
c. 30 days
d. There is no such right

A

10. The Florida Real Estate Time Sharing Act primarily requires:
a. evaluation of the investment merits of time share units.
b. market valuation of time share units.
c. time share project developers to meet zoning and environmental regulatory provisions.
d. full disclosure of all pertinent facts about time share projects.

D

11. In Florida, a surviving spouse's "elective share" in the deceased spouse's property is:
a. 50 percent of the decedent's real estate.
b. 30 percent of the decedent's net distributable estate.
c. 50 percent of all property owned by the decedent during their marriage.
d. one-third of all property owned by the decedent during their marriage.

B

12. The full "bundle of rights" in real property includes:
a. use, extinction, destruction, possession.
b. use, enjoyment, destruction, possession.
c. use, exclusion, enjoyment, possession.
d. use, exclusion, disposition, possession.

D

13. A through-the-wall air conditioner would most likely be considered a:
a. chattel personal.
b. fixture.
c. chattel real.
d. personal property.

B

14. The four criteria for determining whether an item is a fixture are:
a. intent, method of annexation, adaptation, relationship of parties.
b. intent, abandonment, redemption, accretion.
c. size, annexation, avulsion, adaptation.
d. intent, size, annexation, redemption.

A

15. Unless the instrument specifically creates survivorship, all of the following estates normally
provide for survivorship except:
a. Tenancy by the entireties.
b. Tenancy in common.
c. Joint tenancy in which survivorship is specified.
d. All of the above provide for survivorship.

B

16. The four unities necessary for a joint tenancy are:
a. interest, survivorship, possession, time.
b. possession, deed, title, time.
c. title, interest, time, possession.
d. person, utility, interest, purpose.

C

17. George and Anna, husband and wife, own a piece of property in an estate by the entireties. They
divorce. Now they own property as:
a. joint tenants.
b. tenants in common.
c. tenants by the entireties.
d. joint tenants without right of survivorship.

B

18. Arthur and Bernard own a section of land as joint tenants. Arthur sells his interest to Clyde.
Bernard and Clyde are now:
a. joint tenants.
b. tenants in common.
c. tenants by the entireties.
d. tenants for years.

B

19. If a wife's husband dies intestate and there are no children or lineal descendants, she may take
what share of the estate?
a. 50 percent
b. 33-1/3 percent
c. 100 percent
d. none of the above

C

20. If a husband dies intestate, his wife obtains what type of estate in the homestead property held i
his name only, if there are two lineal descendants?
a. fee simple estate
b. life estate
c. tenancy in common
d. tenancy by the entireties

B

21. The surviving spouse of a decedent is entitled to what value of decedent's household furniture,
furnishings, appliances and personal effects?
a. $10,000 total
b. $ 6,000 total for any such property
c. $ 1,000 household items and $5,000 personal effects
d. $10,000 household items plus automobiles

D

22. A parcel of real property includes:
a. land and improvements.
b. mineral rights, trees, houses and septic tanks.
c. airspace, surface and ground beneath the surface.
d. all of the above.

D

23. A tenancy at sufferance is a tenancy in which the:
a. tenant suffers from an obnoxious landlord.
b. landlord suffers from an obnoxious tenant.
c. lease instrument was invalid.
d. tenant stays in possession of the property without renewing a written lease with another
written instrument.

D

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 9
1. The legal instrument by which title to property or estates is conveyed in a private grant between
living persons is known as a:
a. contract.
b. deed.
c. warranty.
d. covenant.

B

2. A warrant is a(n):
a. agreement.
b. promise to do something.
c. promise not to do something.
d. guarantee of a promise.

D

3. The clause in which the grantor warrants that he owns and has the power to convey all he is
conveying is known as the:
a. habendum clause.
b. warrant of seizen.
c. warrant of quiet enjoyment.
d. reddendum clause.

B

4. The most common deed, and most desirable from the buyer's point of view, is the:
a. fat deed.
b. warranty deed.
c. quit-claim deed.
d. bargain and sale deed.

B

5. A person who dies without leaving a will is said to have died:
a. inchoate.
b. intestate.
c. testate.
d. incoherent.

B

6. A person appointed by the court to handle a deceased's estate is known as a(n):
a. executor.
b. administrator.
c. personal representative.
d. bailiff.

C

7. For a deed to be valid, two witnesses are:
a. not necessary.
b. necessary only for a homestead transfer.
c. required in Florida for all deeds.
d. always required.

C

8. Compatibility of home size or style in a neighborhood is usually controlled by means of:
a. police power.
b. restrictive covenants.
c. zoning ordinances.
d. restrictive cummerbunds.

B

9. Recording of a deed tells the world at large that the new owner is Mr. X. This is called:
a. actual notice.
b. acknowledgment.
c. construed notice.
d. constructive notice.

D

10. Buyer buys a property subject to an existing mortgage. Buyer contracts with builder to add a
room onto his house. After construction has started, buyer gives a second mortgage to a friend
who promptly has it recorded. After the construction has been completed the contractor places a
construction lien on the property. What are the priorities of the liens on the buyer's property?
a. 1st mortgage, 2nd mortgage, construction lien
b. 1st mortgage, construction lien, 2nd mortgage
c. construction lien, 1st mortgage, 2nd mortgage
d. none of the above

B

11. Liens for taxes and assessments have priority over private liens:
a. with the exception of construction liens.
b. except when private liens have already been accrued.
c. with exception of mortgages.
d. without exception.

D

12. Charlie buys a property for $50,000 of which $30,000 is an assumed mortgage, $15,000 is a
purchase money 2nd mortgage and the remainder $5,000 is cash. How much is the documentary
stamp tax on the deed?
a. $350.00
b. $300.00
c. $275.00
d. $250.00

A

13. Obtaining title by adverse possession is accomplished by possession which is:
a. open, notorious, hostile, adverse.
b. open, exclusive, hostile, notorious, adverse.
c. hostile, exclusive, open, continuous, adverse, notorious.
d. hostile, open, perverse, exclusive, continuous.

C

14. The statutory period of continuous adverse possession in Florida is:
a. 12 months+ 1 day.
b. 4 years.
c. 7 years.
d. 11 years.

C

15. The power of government to take land for a public purpose by way of condemnation proceedings
with compensation is known as:
a. adverse possession.
b. eminent domain.
c. police power.
d. escheat.

B

16. The power of government to enact zoning and building codes is based upon:
a. eminent domain.
b. adverse possession.
c. police power.
d. escheat powers.

C

17. Farmer Brown puts up a fence between his and Farmer Jones' properties. Farmer Jones
discovers that the fence is two feet on his side of the property line. This is termed a(n):
a. appurtenance.
b. easement.
c. encroachment.
d. assessment.

C

18. In Florida, an estate for a term longer than one year must be created by:
a. an oral agreement if witnessed by no natural persons.
b. a written instrument.
c. a written instrument signed by its creator in the presence of two subscribing witnesses.
d. a written instrument signed both by the lessor and lessee in the presence of two subscribing
witnesses.

D

19. The requirements for a valid lease are:
a. names of lessor and lessee, legal capacity, property description, consideration, term of
tenancy.
b. signature of lessor, seal, legal capacity, consideration, term.
c. names of lessor and lessee, seal of lessor, consideration, capacity.
d. signature of lessor, term, property description, consideration.

A

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 10
1. The first reference point in a surveyor's description of property is termed the:
a. starting point.
b. point of beginning.
c. initial reference point.
d. point of first reference.

B

2. The legal description of unplatted land should be prepared by a(n):
a. broker
b. attorney.
c. land surveyor.
d. title company.

C

3. A legal description such as" ... run N 73°26'43"E a distance of 100.43', thence northerly along a
curve convex to the East and having a radius of 60.0' a distance of 74.96' ... " is an example of the:
a. government survey method.
b. Torrens system.
c. metes and bound system.
d. monuments method.

C

4. The main reference lines running north to south in the government survey method are termed:
a. latitudes.
b. longitudes.
c. base lines.
d. meridians.

D

5. The starting point of measurement in Florida by government survey is:
a. Washington, D.C..
b. Jacksonville.
c. Tallahassee.
d. Miami.

C

6. The area between adjacent meridians is called a(n):
a. range.
b. township.
c. section.
d. acre.

A

7. The distance between adjacent meridians is:
a. 5 miles.
b. 6 miles.
c. 10 miles.
d. 15 miles.

B

8. The area bounded by two adjacent meridians and two adjacent base lines is called a(n):
a. township.
b. range.
c. section.
d. acre.

A

9. The number of sections in a township is:
a. 30.
b. 36.
c. 140.
d. 640.

B

10. How many square miles are in a section?
a. 640.
b. 64.
c. 36.
d. 1.

D

11. The number of square feet in an acre is:
a. 45,360.
b. 43,650.
c. 46,350.
d. 43,560.

D

12. The number of acres in a square mile is:
a. 640.
b. 5280.
c. 100.
d. 36.

A

13. The legal description of lot and block number necessarily refers to a:
a. government survey.
b. plat map.
c. development.
d. recorded deed.

B

14. The area between adjacent baselines is called a(n):
a. range.
b. township.
c. section.
d. acre.

B

PRINCIPLES & PRACTICES I
Practice Quiz--Chapter 11
1. Which of the following is a unilateral contract?
a. contract for the sale of land
b. contract for deed
c. open listing contract.
d. exclusive right-of-sale listing contract

C

2. Florida statutes require which type of contract to be in writing?
a. contract for the sale of land
b. listing contract
c. unilateral contract
d. parol contract

A

3. A broker's commission may be forfeited under which condition?
a. broker does not inform both parties in an exchange that he is the broker for both parties
b. broker has not renewed his license
c. broker has not obtained a valid listing
d. all of the above

D

4. If some of the terms and/or promises of a contract are inferred from the acts or conduct of the
parties rather than expressly stated, that contract is known as:
a. an inferred contract.
b. an implied contract.
c. a parol contract.
d. an executory contract.

B

5. The practical essentials of a valid real estate contract are:
a. legality of object, competent parties, offer, acceptance, legal age.
b. competent parties, offer, acceptance, consideration, meeting of the minds.
c. offer, acceptance, consideration, competent parties, legality of object, in writing and signed.
d. legal age, meeting of the minds, consideration, acceptance.

C

6. "Meeting of the minds" refers to:
a. offer and acceptance.
b. offer and consideration.
c. legality of object and acceptance.
d. legality of object and consideration.

A

7. A contract is:
a. a form denoting written instruments and acknowledgments.
b. a meeting of the minds creating enforceable rights.
c. an offer and acceptance.
d. an agreement to find a purchaser for a stipulated property.

B

8. The party which considers accepting a stipulated price for a property is termed the:
a. offeror.
b. offeree.
c. grantee.
d. party of the second part.

B

9. When the requirements of a contract have been fully performed, it is termed:
a. executed.
b. finished.
c. parol.
d. bilateral.

A

10. The requirement that to be enforceable contracts for sale for real property be in writing and
signed by the parties comes under the:
a. real estate license law.
b. statute of limitations.
c. statute of frauds.
d. declaration of independence.

C

11. The consideration put down by the buyer to show good faith of an offer to purchase is termed
a(n):
a. earnest money deposit.
b. binder contract.
c. escrow disbursement.
d. binder receipt.

A

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