Licensee Lee is working with a party of a real estate transaction in a no broker relationship role. In this role, Lee owes certain duties to the customer. Which is NOT one? (a) Dealing honestly and fairly (b) Disclosing all known facts that materially affect the value of the property (c) Accounting for all funds (d) Fiduciary duty of confidentiality More Information 2. According to the Department of Environmental Protection (DEP), what is the major cause of a projected daily water shortfall in Florida of as much as 1 billion gallons a day by 2030? (a) Rapid population growth (b) Wastewater treatment capacity (c) Loss of wetlands (d) Poor water quality More Information 3. Which statement is FALSE regarding the CAN-SPAM Act of 2003? (a) The Act bans false or misleading "To:" and "From:" header information in emails containing commercial product advertisements. (b) The Act requires that recipients of advertising emails be given a method to opt out of future emails. (c) The Act bans the emailing of all general information messages or newsletters, even if they don't contain advertisements. (d) Each violation of the Act is subject to a hefty fine. More Information 4. A licensee who has pleaded guilty to a crime is required to report the information to the DBPR within 30 days using the Criminal Self-Reporting Document. Otherwise, the licensee may be subject to disciplinary action that includes any of the following EXCEPT: (a) a fine. (b) imprisonment. (c) license revocation. (d) license suspension. More Information 5. Licensee Don answered several questions from potential buyer Rachel, but no relationship has been established. In this situation, what brokerage relationship is presumed to exist? (a) No brokerage relationship (nonrepresentation) (b) Single agent (c) Transaction broker (d) Designated sales associate More Information 6. In Florida, at least once monthly, registered brokers must maintain a current written record of: (a) marketing ideas. (b) sales goals. (c) listing prospects. (d) team or group members. More Information 7. The NAR Code of Ethics and Arbitration Manual, Pathways to Professionalism, provides professional courtesies that are voluntary but agents should follow. All of these are recommended ways to show respect for the public EXCEPT: (a) before entering a property, secure the owner's pets outside. (b) call if you are delayed or must cancel an appointment or showing. (c) follow the Golden Rule: Do unto others as you would have them do unto you. (d) respond promptly to inquiries and requests for information. More Information 8. Sales associate Tara noticed that the sellers failed to disclose a minor plumbing issue that they revealed before she listed the property. What should Tara do? (a) Ensure the seller resolves the problem before closing (b) Ignore it since the plumbing issue is minor (c) Report the issue to the buyer after closing (d) Wait to see if the home inspector notices it More Information 9. Which entity is responsible for enforcement of the National Association of REALTORS Code of Ethics? (a) The Florida Real Estate Commission (b) The local Association of REALTORS (c) The Florida REALTORS Association (d) The National Association of REALTORS More Information 10. Why was the National Association of REALTORS (NAR) Code of Ethics developed? (a) To guide federal legislation (b) To provide a professional standard of conduct for the real estate industry (c) To develop rules for approval by state legislators (d) To define a process for real estate licensing More Information 11. Gordan Realty Group encourages its employees to serve on local environmental protection boards. This activity engages its employees in: (a) environmental ethics. (b) corporate social responsibility. (c) political activeness. (d) social contracts. More Information 12. Licensee Angela is in a single agent relationship with the buyer. Which fiduciary duties does she owe the buyer? (a) Dealing honestly and fairly (b) Disclosing all known facts materially affecting property value that are not readily observable. (c) Accounting for all funds (d) Confidentiality, obedience, loyalty, and full disclosure More Information 13. Sales associate William noticed that a For Sale by Owner (FSBO) sign has been in a yard for over three months. Under which condition may William call the owner to solicit a listing? (a) The consumer is in the FCC Do Not Call Registry. (b) The consumer is on the Florida Do Not Call List, but not in the National Do Not Call Registry. (c) The consumer is in both the National Do Not Call Registry and the Florida Do Not Call list. (d) None; a sales associate may never solicit an FSBO listing under any circumstances. More Information 14. The act of exposing or "outing" someone for illegal or unethical business behavior is: (a) an internal company issue that should only be reported to the human resources department. (b) referred to as "whistleblowing" and can be reported internally or externally to law enforcement or a third party. (c) not protected by any laws, thereby subjecting the accuser to retaliation by the person outed. (d) generally, not recommended due to the negative impact on internal relationships in the company. More Information 15. Charles found the perfect home, so he decided to not include a contingency in his offer that protects a buyer against purchasing a home that is revealed to be in poor condition or requires major repairs. In the offer, Charles is waiving the: (a) title contingency. (b) inspection contingency. (c) appraisal contingency. (d) financing contingency. More Information 16. Licensee Laura has tried to resolve an issue with a seller without success. One avenue for an informal dispute resolution under the NAR Code of Ethics is for her to use: (a) litigation. (b) a real estate ombudsman. (c) the Florida Real Estate Commission (FREC). (d) the Federal Department of Housing and Urban Development (HUD). More Information 17. A potential home buyer asks you, the listing agent, how old the roof is. You were hoping they wouldn't ask about the roof because the seller told you that the roof is 25 years old. Given the duties specified in the NAR Code of Ethics, what is the most ethical response to the buyer's question? (a) Tell the buyer that it looks in good condition. (b) Suggest that this is not an important issue and that they should focus on the price instead. (c) Tell the buyer that, according to the seller, the roof is 25 years old. (d) Suggest that the buyer contact a roofing company for an inspection. More Information 18. Mia found a house that she loves that is close to her work and other amenities. She decides to add a clause in her offer to increase the offer amount over and above the highest bidder. This is referred to as a(n): (a) escalation clause. (b) price ceiling clause. (c) commission clause. (d) mortgage clause. More Information 19. When real estate licensees work in the capacity of transaction brokers, they: (a) provide fiduciary duties to both the buyer and the seller. (b) do not have to provide a written brokerage relationship disclosure form. (c) must provide a written brokerage relationship disclosure form, if selling residential property. (d) must provide full disclosure to buyers and sellers. More Information 20. Landlord Ned runs a self-service storage facility, and some tenants are failing to pay their storage fees. In which statute can Ned find information covering this issue? (a) Chapter 83, F.S., Part I (b) Chapter 83, F.S., Part II (c) Chapter 83, F.S., Part III (d) Chapter 475, F.S., Part I More Information 21. An investor is considering making an offer on a Florida property to build a solar farm. What environmental issue should the investor contemplate before purchasing the property? (a) Solar farms require a large land area that can encroach on wildlife habitation. (b) Solar farms do not produce clean energy. (c) Solar farms are less sustainable than other forms of energy. (d) Solar farms are a poor investment in Florida. More Information 22. Beth provided her financial information to a lender before she started looking for a house to purchase. The lender issued a written commitment to her following a comprehensive analysis of her overall creditworthiness. This is referred to as a: (a) commitment letter. (b) mortgage preapproval. (c) preemptive offer. (d) mortgage prequalification. More Information 23. If a sales associate fails to disclose known defects to a potential buyer of a house, this is considered: (a) an illegal act under Florida statutes. (b) misguided loyalty to the seller. (c) proper under certain circumstances. (d) unethical behavior. More Information 24. Licensee Jake's buyer client asked him to withdraw the buyer's offer before it is accepted. It's important that Jake: (a) communicates the reason for the withdrawal with the seller's agent. (b) discontinues working as the buyer's agent to avoid another similar situation. (c) keeps accurate documentation on the timeline of the withdrawal. (d) waits until the last minute in case the buyer changes their mind. More Information 25. Potential buyer Sam wants to increase his credit score before applying for a mortgage loan. What factors should he consider that are normally included in the calculation of a credit score? (a) Payment history, total amount owed, new credit, length of credit history (b) Payment history, new credit, income, types of credit (c) Marital status, types of credit, total amount owed, new credit (d) Total amount owed, bank account balance, payment history, length of credit history More Information 26. The standards of practice that are included in the NAR Code of Ethics: (a) can be used against REALTORS who violated them. (b) are designed to support, interpret, and amplify the articles in the code. (c) provide only broad suggestions and thoughts for ethical behavior. (d) are mandated by real estate law. More Information 27. If a seller receives multiple offers on their home, the seller's agent must present all offers unless: (a) they receive a low offer. (b) they receive a cash offer. (c) the seller is in contract with another buyer. (d) instructed otherwise by the seller in writing. More Information 28. Jorge works for a residential brokerage firm that represents both buyers and sellers in single agency relationships. In this situation, which of the following is TRUE? (a) It is acceptable for Jorge's real estate firm to represent both buyers and sellers as single agents in the same transaction. (b) Real estate firms may offer single agency representation to buyers or sellers, but not both. (c) Sellers and buyers being represented in a single agency relationship in the same transaction by the same real estate firm must first sign the Transition to Transaction Broker form to proceed. (d) Sellers and buyers being represented in a single agency relationship in the same transaction by different real estate firms must first sign the Transition to Transaction Broker form to proceed. More Information 29. A seller who purchased another home is in a hurry to sell his current home, so he accepted an offer before the offer submission date. This is referred to as a: (a) shopped offer. (b) backup offer. (c) rapid offer. (d) preemptive offer. More Information 30. In a real estate transaction, if a buyer counters a counteroffer: (a) another counteroffer would be prepared, signed, and properly delivered to the seller for consideration. (b) the buyer's agent has the option to terminate the contract. (c) the entire contract is rejected and negotiations are terminated. (d) the original contract would be amended, signed, and properly delivered to the seller for consideration. More Information Please answ