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Flashcards in Quick Glance Test Questions Deck (257)
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1

Which tax lien is superior?

Property tax lien January 1, 2013

2

What fees does the buyer pay at closing?

Attorney Fee & Deed Recording

3

There are only three brokers in the town of Agartha. They make a decision to only accept offers, which pay a commission of 7.2%. Is this allowed?

No, this is illegal under the Sherman-Clayton act

4

To mix your personal funds with escrow funds would be?

Commingle

5

The tenancy that is characterized by Right-of-Survivorship is what

Joint Tenancy

6

If a broker is selling a mans' home for $75,000, but the seller tells the broker in private that he will accept 72,000 for the home, is the broker obligated to tell the buyer this?

The broker cannot disclose this to the buyer

7

Which rights are characterized by private ownership along a river or stream and includes access rights to water, boating, or dockage

Riparian

8

A Package Mortgage covers which type of property

Chattel and Real

9

A landlord has how many days to make a claim on a deposit?

30 days

10

A man owned a piece of property before he got married. Now, even though he is married, that property is still considered what?

Separate

11

What does NOT classifies a joint tenancy?

contract

12

When is a deed considered to be transferred?

When the deed is signed and delivered by a grantor

13

What easement benefits a water company maintaining rights to lay pipes along your property line?

Gross

14

This body regulates state-certified and registered trainee appraisers

Florida Real Estate Appraisal Board - FREAB

15

Rights that are characterized by rights relating to land abutting an ocean or lake?

Littoral

16

The rights of a property are held by the lender under the what theory

Title

17

If a seller wishes to sell their home for 92,000, but market value lists the property at 102,500, is the Broker obligated to tell the seller of the true market value.

Yes, the broker is obligated

18

Is Mortgage interest deductible from the federal income tax

Yes

19

An act, promise, love, obligation, or money in exchange for something else is what

Consideration

20

You don't need a real estate license to sell cemetery lots, an attorney-client relationship, or if acting as a salaried employee, with no commission

You do need a license to auction farmland

21

Is a kickback legal if you are receiving it from someone NOT licensed in your field

Yes choose longest answer

22

If Joey is ruled unfit or incompetent by the court, which deed will be used to determine what happens to his assets

Committee deed

23

The statute dealing with the regulations of the Department Business Professional Relations?

455

24

Why is a home equity loan more popular than most other loans?

It has a lower interest rate

25

How many square feet in an acre

43,560

26

An article attached by a commercial tenant as a part of the tenants trade or business and is personal property

A trade fixture

27

When May an agent begin working and operating

After they register with a broker and that broker submits them to the DBPR

28

Bob owns 3/4 of an acre of land and wishes to build a home there. However, local requirements state that any new homes built on a full acre of land. What does the owner needed to obtain in order to build their home on the 3/4 acre land?

Variance

29

If a man owns 958,320 sq ft of property how many acres does he own?

22 acres

30

What may the FREC issue in response to an agent committing a minor offense?

Notice of Non-Compliance