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Practice Questions

The passing score for the Florida sales associate exam is 75 out of 100 — higher than the pass lines in states like California and Texas.

A reprimand is an official censure that goes on the licensee's record but does not restrict their ability to practice. FREC's penalties escalate from reprimand through fines, probation, and suspension, up to revocation.

Florida law presumes a licensee is operating as a transaction broker unless a single agent or no brokerage relationship is specifically established. Florida does not recognize dual agency.

Confidentiality survives the end of the relationship: a former single agent can never disclose the principal's confidential information — like a bottom-line price — without consent. The other duties end with the relationship.

Unlicensed assistants may perform clerical tasks like scheduling and document delivery. Answering property questions at an open house, preparing CMAs, and negotiating terms are all licensed activities.

Florida law requires brokers to reconcile escrow account records with the bank statement at least monthly. Falling behind on reconciliations is grounds for FREC discipline.

The 1968 Act covered race, color, religion, and national origin; sex was added in 1974. The 1988 amendments added familial status and disability, bringing the total to seven protected classes.

The ADA covers commercial facilities and places of public accommodation, such as hotels, restaurants, and retail stores. Residential housing is covered by the Fair Housing Act instead.

Joint tenancy and tenancy by the entireties both carry the right of survivorship, so the interest passes automatically outside probate. A tenant in common's interest passes through their estate — and Florida does not recognize community property.

Article X, Section 4 of the Florida Constitution shields the homestead from forced sale by most unsecured creditors. Mortgages, property tax liens, and mechanic's liens are the key exceptions — and the tax break is a partial exemption, not a full one.

A quitclaim deed conveys only whatever interest the grantor has — if the grantor has none, the grantee gets nothing. It's commonly used to clear title defects or transfer property between family members.

A section is 640 acres, a quarter section is 160, and a quarter of that is 40 — regardless of which compass directions are named.

A contract signed under duress is voidable: it appears valid, but the wronged party may rescind or ratify it. A void contract — like one for an illegal purpose — has no legal effect at all.

Every Florida listing agreement must contain a definite expiration date — open-ended listings violate Chapter 475 and are grounds for discipline. The rule protects sellers from being bound to a broker indefinitely.

The mortgagor is the borrower; the mortgagee is the lender. Under Florida's lien theory, the mortgagor keeps legal title while the mortgagee holds a lien as security.

FHA loans require 3.5% down for borrowers with a credit score of 580 or higher; scores from 500–579 require at least 10%. The low down payment is why FHA loans are popular with first-time buyers.

Loss in value from wear, weather, and aging is physical deterioration — a leaking roof is the classic example. Because a roof is economically worth repairing, it's typically curable.

Liquidation value is what a property fetches when it must sell quickly, without time to find the best buyer. Market value, by contrast, assumes adequate exposure time and no seller duress.

A debit is a charge: it increases what the buyer must bring to closing or reduces the seller's net proceeds. Its opposite is a credit — money in the party's favor.

The homestead exemption application is due to the county property appraiser by March 1 of the tax year. Miss it, and the exemption waits until the following year.