Florida Real Estate State Exam 183 Questions And Answers

What type of relationship has probably been formed if two more parties agree to combine their efforts for a single business transaction? a/joint venture b/ostensible partnership c/general partnership d/business trust

A city is in need of additional land for a new school. what right would the city have to acquire the land, even over objections of the property owner? a/eminent domain b/escheat c/police power d/the city has no such right

Which type of deed would be the best to convey property from the standpoint of the grantor? a/general warranty b/quitclaim c/special warranty d/bargain and sale

these are all remedies for breach of a real estate contract between a buyer and seller, EXCEPT: a/claim from the real estate recovery fund b/liquidated damages c/specific performance d/compensatory damages

An applicant for a real estate license has been denied by the DBPR. Which statement is correct concerning this denial? a/the denial is final and no appeal may be taken by the applicant b/an appeal may be filed with the district court of appeal within 90 days c/the department its not required to inform the applicant of the reason for the denial d/ the applicant must be notified in writing of the reason for the denial and advised of the right to request a formal hearing

which concept of value pertains to appraisals of profitable business enterprises or opportunities? a/goodwill b/going concern c/liquidation d/tangible asset

a seller and broker enter into a 6 month agreement where the seller agrees to pay a commission to the broker, regardless of who actually sells the property. What type of contract is this? a/contract for deed b/open listing c/exclusive listing d/exclusive right of sale listing

these are all examples of eminent domain, EXCEPT: a/the electric company needs to put up a power substation in a residential area and must take the private property. b/the railroad needs to re-route their trains and must take private property. c/the federal government wishes to construct a small VA outpatient clinic. d/the city wishes to put up a large shopping center/movie theater complex.

Fred, a licensed sales associate, was registered with Broker Harry when he claimed that Harry had failed to pay a sales commission due him. If Fred resigned and was employed under Broker Norman before the dispute was resolved, which statement would be correct? a/Fred cannot bring a legal action for the claimed commission against anyone other than Harry. b/Broker Norman must sue Harry for the commission due Fred. c/Norman assumed responsibility for the unpaid commission when he employed Fred. d/ Fred may file a lis penes against either Harry or Norman for the commission due him

FHA housing expense ratio and total obligations ratios, correspondingly, cannot exceed which of the following limits? a/29% and 41% b/28% and 36% c/27% and 35% d/31% and 43%