Florida Real Estate Exam Review

Flashcards covering key concepts in Florida Real Estate, including core activities, licensing, brokerage relationships, legal concepts, and regulatory compliance.

Core brokerage activities include facilitating __.

transactions (sales, purchases, rentals)

The five major sales specialties are residential, commercial, __, agricultural/land, and business opportunities.

industrial

A broker must oversee rentals and tenant relations in __.

property management.

CMA stands for __.

Comparative Market Analysis.

The mortgage process includes pre-approval, __, underwriting, and closing.

application

In construction, development requires obtaining __ and utilities approval.

permits

The government can employ __ to take private property for public use with just compensation.

eminent domain.

Unlicensed activity in real estate is __.

illegal.

Florida Real Estate Commission (FREC) was created in __.

1925.

A Sales Associate works under a __.

broker.

To become a broker, an individual must have 24 months of active licensure within the preceding __.

5 years.

Brokers must notify DBPR within __ days of an address change.

10.

The maximum license suspension period is __ years.

10.

Under the Fair Housing Act, the protected classes include race, color, religion, sex, handicap, familial status, and __.

national origin.

The Florida Residential Landlord and Tenant Act applies to __ rental agreements.

residential.

A landlord must return a security deposit within __ days if there is no claim against it.

15.

The __ is a fund that provides restitution when a licensee cannot pay a judgment.

Real Estate Recovery Fund.

A violation of fiduciary duty is called a __ of trust.

breach.