Free Florida Real Estate Practice Exam

Q1.A developer wants to fill in a portion of a wetland on a Florida property to construct a residential subdivision. Which Florida agency primarily regulates this activity under Florida's Environmental Resource Permit (ERP) program, and what federal agency may also have jurisdiction?

• A.The Florida Department of Agriculture and Consumer Services (FDACS) and the U.S. Fish and Wildlife Service.
• B.The Florida Department of Environmental Protection (DEP) or a delegated Water Management District, and the U.S. Army Corps of Engineers under Section 404 of the Clean Water Act.
• C.The Florida Department of Commerce and the U.S. Environmental Protection Agency (EPA) under the Safe Drinking Water Act.
• D.The local county planning department and FEMA under the National Flood Insurance Program.

Q2.Elena's buyer is making an all-cash offer. The seller asks for proof of funds. What is an acceptable form of proof of funds?

• A.A letter from the buyer's employer confirming their annual salary
• B.A current bank or investment account statement showing liquid assets sufficient to close
• C.A pre-qualification letter from a mortgage lender
• D.An earnest money check made payable to the escrow company

Q3.A sales associate receives a $5,000 earnest money deposit from a buyer on a Friday afternoon after banking hours. Under Florida law, by when must this deposit be delivered to the broker's escrow account?

• A.Immediately upon receipt, regardless of banking hours.
• B.By the end of the next business day after receipt.
• C.By the end of the third business day after receipt.
• D.Within 10 calendar days of the contract's execution.

Q4.The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating against credit applicants based on which of the following?

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

Q5.A real estate agent in Florida shows homes in different neighborhoods to buyers based on their race, believing they would be 'more comfortable' with people of their own race. This practice is called:

• A.Redlining
• B.Blockbusting
• C.Steering
• D.Churning

Q6.Under RESPA, which of the following would constitute an illegal kickback arrangement between a real estate agent and a mortgage lender?

• A.The agent receives a $500 payment for each client who closes a loan with the lender
• B.The lender provides free educational seminars to the agent's clients
• C.The lender offers competitive interest rates to the agent's referred clients
• D.The agent provides the lender's contact information to interested buyers

Q7.The maximum civil penalty for a third or subsequent FHA violation within 7 years is approximately:

• A.$21,663
• B.$54,157
• C.$108,315
• D.$250,000

Q8.What is the minimum age requirement to obtain a Florida real estate sales associate license?

• A.16 years old
• B.18 years old
• C.21 years old
• D.25 years old

Q9.A sales associate receives a $5,000 earnest money deposit from a buyer on a Friday afternoon after banking hours. The sales associate's broker operates an escrow account. Under Florida law, by when must the deposit be placed into the escrow account?

• A.By the end of the third business day after the sales associate received the funds.
• B.By the end of the next calendar day after receipt, regardless of business hours.
• C.Immediately upon receipt, because the sales associate must hand it to the broker the same day.
• D.Within 10 calendar days after the contract is fully executed by all parties.

Q10.A homeowner receives a notice that her property has been assessed at $320,000 for tax purposes, but she believes the fair market value is only $275,000. Which process should she use to challenge this assessment?

• A.File a complaint with the local zoning board of appeals
• B.Petition the assessor's office or a board of equalization for a reassessment
• C.Submit a grievance to the state real estate commission
• D.Request a variance from the county planning department

Q11.A Florida real estate sales associate is found guilty of misrepresentation and a consumer obtains a final civil judgment against him. The consumer cannot collect the judgment from the licensee. Under the Florida Real Estate Recovery Fund, what is the maximum amount the consumer may recover from the Fund for a single transaction?

• A.$50,000 per transaction, with a lifetime cap of $150,000 per licensee
• B.$25,000 per transaction, with no lifetime cap per licensee
• C.$100,000 per transaction, with a lifetime cap of $500,000 per licensee
• D.$50,000 per transaction, with no individual licensee lifetime cap

Q12.An effective anti-harassment policy should promise:

• A.Absolute confidentiality — no details of a complaint will ever be shared
• B.Complete transparency — all agents will be informed of complaints
• C.Confidentiality only for the alleged harasser's identity
• D.Maximum confidentiality consistent with the investigation — not absolute confidentiality

Q13.A Florida real estate salesperson receives an earnest money deposit from a buyer. Under Florida Statute §475.25(1)(k) and FREC rules, the salesperson must deliver the deposit to her broker within how many business days of the deposit being received?

• A.One business day
• B.Two business days
• C.Three business days
• D.Five business days

Q14.In Florida, what is the primary concern regarding radon gas in real estate transactions?

• A.Radon is only found in commercial properties
• B.Radon testing is mandatory for all real estate transactions
• C.Radon is a naturally occurring radioactive gas that can accumulate in buildings and cause health risks
• D.Radon only affects properties built before 1980

Q15.Under the Fair Housing Act, which of the following lease provisions would be considered discriminatory and therefore illegal?

• A.A clause requiring all tenants to maintain renter's insurance
• B.A clause requiring a security deposit equal to one month's rent
• C.A provision requiring 30 days written notice before lease termination
• D.A provision stating 'no children under 12 allowed in this adult community'