Florida Real Estate Exam

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Quizzes Created: 810 | Total Attempts: 1,105,791

Questions: 10 | Attempts: 262 | Updated: Mar 22, 2023

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Real estate deals with lands, buildings, resources as well as several other immovable properties. This necessitates that people who desire to own and trade it must have a profound knowledge of it. With these simple questions covering scopes such as real estate principles and practices, Florida and federal laws, you need to be at your best to ace the exam. Give it a shot now!

Questions and Answers

1.

What is the intermediary who acts between owners and clients called?
- A.
  
  Broker
- B.
  
  Agent
- C.
  
  Guarantor
- D.
  
  Realtor
Correct Answer
D. Realtor

Explanation
A realtor is an intermediary who acts between owners and clients in the real estate industry. They are licensed professionals who help clients buy, sell, or rent properties. Realtors have a deep understanding of the market, negotiate deals on behalf of their clients, and ensure that all legal and financial aspects of the transaction are handled properly. They provide valuable guidance and expertise throughout the entire process, making them an essential link between owners and clients in the real estate industry.

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2.

What is a residential building called in India?
- A.
  
  Apartment
- B.
  
  Hut
- C.
  
  Villa
- D.
  
  Chawl
Correct Answer
D. Chawl

Explanation
A chawl is a type of residential building in India. It is a multi-storey tenement housing system, typically found in densely populated urban areas. Chawls consist of small rooms or apartments that are rented out to multiple families. They often have common facilities like bathrooms and kitchens that are shared among the residents. Chawls are usually characterized by narrow corridors and a sense of community living. They have been a prominent form of housing in cities like Mumbai, offering affordable accommodation for lower-income groups.

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3.

What family owns the Goodnight Estate?
- A.
  
  The Donalds
- B.
  
  The Rogers
- C.
  
  The Emdes
- D.
  
  The Washingtons
Correct Answer
C. The Emdes

Explanation
The correct answer is The Emdes. This suggests that the Emdes family is the owner of the Goodnight Estate.

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4.

What is the origin of the "land law"?
- A.
  
  Romanism
- B.
  
  Subsistence farming
- C.
  
  Nomadism
- D.
  
  Feudal system
Correct Answer
D. Feudal system

Explanation
The origin of the "land law" can be traced back to the Feudal system. In this system, land was owned by the feudal lords who granted portions of land to vassals in exchange for their loyalty and service. This created a hierarchical structure where the vassals became responsible for managing and cultivating the land. The land law, therefore, emerged as a set of rules and regulations governing the ownership, transfer, and use of land within the feudal system.

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5.

Who is the person who holds a legal title to a property?
- A.
  
  Beneficiary
- B.
  
  Trustee
- C.
  
  Interestee
- D.
  
  Manor
Correct Answer
B. Trustee

Explanation
A trustee is the person who holds a legal title to a property. They are responsible for managing the property and ensuring that it is used in accordance with the terms of the trust agreement. The trustee has a fiduciary duty to act in the best interests of the beneficiaries of the trust and must follow the instructions outlined in the trust document. The beneficiary, on the other hand, is the person who receives the benefits of the trust, such as income or use of the property. Therefore, the correct answer is Trustee.

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6.

What is the person who has an equitable interest in a property called?
- A.
  
  Co-owner
- B.
  
  Beneficiary
- C.
  
  Interestee
- D.
  
  Equator
Correct Answer
B. Beneficiary

Explanation
A person who has an equitable interest in a property is called a beneficiary. This means that they have a legal right to benefit from the property, such as receiving income or profit from it. The term "beneficiary" is commonly used in the context of trusts or estates, where someone is entitled to receive assets or funds from the property. The other options, co-owner and interestee, do not specifically refer to someone with an equitable interest in a property. "Equator" is unrelated to property ownership.

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7.

What is the origin of manorialism?
- A.
  
  America
- B.
  
  Roman
- C.
  
  Greece
- D.
  
  England
Correct Answer
B. Roman

Explanation
Manorialism originated in the Roman Empire. It was a system that developed during the decline of the Roman Empire and continued into the Middle Ages. It involved a social and economic structure where the lord of the manor owned the land and granted portions of it to peasants in exchange for their labor and a share of their crops. This system provided stability and protection for both the lord and the peasants, and it became a fundamental aspect of medieval society.

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8.

What are the rights granted to the titular recipient of a manor called?
- A.
  
  Norman
- B.
  
  Seignory
- C.
  
  Dignitas
- D.
  
  Manorial
Correct Answer
B. Seignory

Explanation
Seignory refers to the rights granted to the titular recipient of a manor. It is a term used in feudalism to describe the legal and economic privileges given to the lord or lady who owned the manor. These rights could include collecting rent from the peasants, holding courts, and having jurisdiction over the land. Seignory was an important aspect of the feudal system, as it defined the relationship between the lord and the peasants who lived and worked on the manor.

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9.

What is the Germanic term for a heritable estate?
- A.
  
  Dellis
- B.
  
  Graham
- C.
  
  Sceva
- D.
  
  Allodium
Correct Answer
D. Allodium

Explanation
Allodium is the correct answer because it refers to a heritable estate in Germanic law. It is a type of land ownership where the owner has complete and absolute ownership and control over the property, free from any feudal obligations or superior claims. In contrast to feudal land tenure, allodium represents the highest form of land ownership and is passed down through inheritance. This term is commonly used in Germanic legal systems to describe a property that is not subject to any feudal or vassal relationships.

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10.

Which of these is not a limiting factor governing the operation of family farms?
- A.
  
  Commodity futures
- B.
  
  Costs of inputs
- C.
  
  Economies of scale
- D.
  
  Technological failure
Correct Answer
D. Technological failure

Explanation
Technological failure is not a limiting factor governing the operation of family farms because it refers to the breakdown or malfunctioning of technology used in farming practices. While technological failure can negatively impact the efficiency and productivity of a farm, it is not a limiting factor in the sense that it is not a constraint or restriction that determines the overall operation of family farms. Factors such as commodity futures, costs of inputs, and economies of scale have a more direct and significant influence on the operation of family farms.

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