Live Stream Course Mid Term Exam – 50 Questions

The term “of definite duration” in a lease refers to tenancy known as

In the absence of a will and heirs, property may revert to the government by the process known as

The monthly housing expense ratio on a Federal Housing Administration insured loan must not exceed

What can happen to an unlicensed person who practices real estate?

Which of the following activities would require a real estate license?

A private railroad company notified an owner that they want to buy part of her property as right-of-way for tracks. The property owner refuses to sell. Which is correct?

A contract not fully expressed or in writing whereby terms and conditions may be inferred from the nature of the transaction or acts of the parties is known as

Broker Jones was convicted of embezzlement of funds from his employer, and was sentenced to five years in the state penitentiary. When Broker Jones repaid all of the embezzled funds, his sentence was suspended. Which is most correct?

An agreement whereby one party agrees to give the other party the right to buy a property for a certain price at any time during a stipulated period is known as

The four unities of title, time, interest, and possession must be present to create

The interest rate, payment schedule, and other evidence of the debt is in the

Which of the following liens has first priority?

James Farmer buys a rental list from broker Harrison for $200. He looks at over 25 rental apartments, but doesn't find any that he likes. 22 days later he requests a full refund. He is entitled to receive

Who holds title to mortgaged property in Florida?

Sally has just died intestate. Her property will be distributed to her heirs by

Real property of a minor may be conveyed by a

Title to real estate transfers when the deed is

If the proceeds of a foreclosure sale are insufficient to satisfy the amount due on a note, a personal judgment is obtained against the mortgagor, which is called a

Which is ownership of real property?

An option contract is unilateral because it

Which of the following is not a requirement of every type of contract?

The legal right to enter upon or cross another person’s property is known as

Which of the following is a voluntary, specific lien?

The Florida statute of frauds provides that

An earnest money check is returned for “not sufficient funds”. What should the sellers broker do?

Which of the following is NOT a provision of the Florida Condominium Act?

The principal reason for charging a discount is to

The brokers sign need not include

All of the following are characteristics of the cooperative form of ownership except

A purchaser is buying a house for a total price of $72,000.00; the purchaser has qualified for an 80% loan selling at 96. What is the amount of the discount?

A court action filed six years after a contract was signed probably would not be successful because of

Which is NOT a government restriction on ownership?

Savings accounts in federal savings associations are insured by the

A listing in which the owner promises to pay a commission to a broker no matter who sells the property is called

A broker receives a referral from a citizen of the United Arab Emirates. The UAE has no licensing requirement for real estate brokers. The broker may

Limited partners may invest

If three people hold title to a parcel of real estate with shares of 25%, 40%, and 35% respectively, they have a

When is the mortgage insurance premium paid on a new FHA 203(b) loan?

Which is an INCORRECT statement regarding property owned as tenancy by the entireties?

How many acres are contained in the NW 1/4 of the NW 1/4 of the NW 1/4 of the SE 1/4 and the N 1/2 of the S 1/2 of the NE 1/4?

When the legal rights under a contract are transferred to another, the recipient is called

What are the dimensions of the NW 1/4 of the NW 1/4 of the SE 1/4?

A deed is placed on public record to

A broker followed the instructions in an escrow disbursement order, but he was the loser in a civil court judgement which resulted in a payment of $5,000 from the Recovery Fund. As a consequence, FREC will

A checking account is classified as a

The basis of real property law in the United States whereby ownership rights on land rest with individuals is known as the

A listing agreement requires the broker to “effect a sale”. When is the commission due?

To increase the lenders yield on a 30-year mortgage by 1/2%, how many points must be charged?

A licensee who has passed the broker’s state examination, but desires to continue to operate under an owner-employer should be licensed as a

Possession of a current and valid license will be considered by a court