Free Florida Real Estate Practice Exam

Q1.When dual agency occurs in a real estate transaction, which fiduciary duty is most significantly modified?

• A.The duty of confidentiality
• B.The duty of loyalty
• C.The duty of reasonable care
• D.The duty of accounting

Q2.Under an Exclusive Right to Sell listing, the seller sells directly to a neighbor without the broker's involvement. Is the broker owed a commission?

• A.No — the broker only earns a commission if they procured the buyer
• B.Yes — under an Exclusive Right to Sell listing, the broker earns a commission regardless of who finds the buyer
• C.Only if the broker can prove they were the procuring cause of the neighbor's interest
• D.Only if the seller violated the safety clause provision

Q3.A borrower obtains a $200,000 loan at 6% annual interest. If the monthly payment is $1,199.10, how much of the first payment goes toward principal?

• A.$1,000
• B.$199.10
• C.$1,199.10
• D.$600

Q4.A buyer and seller execute a Florida FAR/BAR 'AS IS' Residential Contract for Sale and Purchase. The buyer's financing falls through after the inspection period has expired, and the buyer cannot close. Under the standard default provisions of that contract, what remedy is MOST likely available to the seller?

• A.The seller may retain the deposit as liquidated damages and the transaction is cancelled, provided the seller elects that remedy under the contract's default clause.
• B.The seller must immediately file a lawsuit for specific performance because the FAR/BAR AS IS contract does not allow the seller to retain the deposit.
• C.The seller must return the full deposit to the buyer because the buyer's inability to obtain financing is an automatic excuse under Florida law.
• D.The seller may retain only half the deposit, with the other half automatically going to the listing broker as a commission.

Q5.Which Florida constitutional amendment allows homeowners to transfer up to $500,000 of their Save Our Homes benefit to a new homestead property?

• A.Amendment 1
• B.Amendment 2
• C.Amendment 3
• D.Amendment 4

Q6.In Florida, how many years of experience as a licensed real estate salesperson is required before applying for a broker's license?

• A.1 year
• B.2 years
• C.3 years
• D.5 years

Q7.Which violation would result in an automatic suspension of a Florida real estate license without the right to a hearing?

• A.Failing to deliver a copy of a listing agreement to the seller
• B.Being convicted of a felony
• C.Advertising property without the broker's name
• D.Failing to maintain the required errors and omissions insurance

Q8.A Florida property owner who disagrees with their property assessment must file a petition with the Value Adjustment Board by what deadline?

• A.March 1
• B.July 1
• C.The 25th day following the mailing of the TRIM notice
• D.September 1

Q9.Under the Equal Credit Opportunity Act (ECOA), it is illegal for a lender to discriminate against a loan applicant based on which of the following?

• A.Credit history
• B.Marital status
• C.Income level
• D.Employment history

Q10.A Florida real estate licensee initially entered into a single agent relationship with a seller but now wants to work with a buyer for the same property. What must occur for this to be legally permissible?

• A.The licensee can automatically represent both parties as a dual agent
• B.The licensee must obtain written consent from both parties to become a designated sales associate
• C.The licensee must transition to a transaction broker with written consent from the seller
• D.The licensee cannot work with the buyer under any circumstances

Q11.What constitutes a material breach of a real estate purchase contract?

• A.A minor delay in providing required documents
• B.A request to modify the closing date by one day
• C.A failure to perform a significant obligation that defeats the contract's purpose
• D.A delay in scheduling the final walkthrough

Q12.Under the Fair Housing Act, which of the following is NOT a protected class?

• A.Race
• B.Religion
• C.Sexual orientation
• D.National origin

Q13.In Florida, when must a seller disclose known material defects to a potential buyer?

• A.Only if specifically asked by the buyer
• B.Before the buyer makes an offer
• C.At closing
• D.Within 30 days of listing the property

Q14.Which Florida-specific tax is imposed on new mortgage loans secured by Florida real property, and at approximately what rate is it generally assessed?

• A.The Florida intangible tax on mortgages, assessed at $2.00 per $1,000 of the mortgage obligation
• B.The Florida documentary stamp tax on deeds, assessed at $0.70 per $100 of the sale price
• C.The Florida intangible tax on mortgages, assessed at $10.00 per $1,000 of the mortgage obligation
• D.The Florida transfer tax, assessed at $1.50 per $1,000 of the mortgage obligation

Q15.During a fair housing audit, it is discovered that a broker's office has a policy of requiring Hispanic applicants to submit two forms of government-issued ID to rent an apartment, while non-Hispanic applicants are required to submit only one. The broker argues the policy is designed solely to prevent rental fraud. Which legal doctrine most directly renders this policy unlawful under the Fair Housing Act?

• A.Disparate impact, because the policy produces statistically unequal outcomes across racial groups.
• B.Disparate treatment, because the policy explicitly imposes different documentary requirements on applicants based on national origin, a protected class under the FHA.
• C.Blockbusting, because the differential treatment is designed to manipulate the demographic composition of the building.
• D.Redlining, because the policy effectively excludes a protected class from access to housing finance.