Download Gold Coast Real Estate Exam Questions and Answers: Chapters 1-19 and more Exams Real Estate Management in PDF only on Docsity!
Gold Coast Real Estate Ch 1- 19
Review and Gold Coast Real Estate
Chapter 10 Exam with Correct
Answers.
- What does the term farming refer to in real estate - Answer: โ
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specializing in one geographic area
- A developer contracts to build a home according to the buyers
specifications. This is an example of which type of building? - Answer: โ
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custom
- Planned unit development - Answer: โ
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cluster zoning; are allowed a certain percentage of the development to include smaller than normal lots or zero lot line and patio homes to be built
- Buffer zone - Answer: โ
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a planned neutral space between two different zoning categories that are often built into a planned community (PUD)
- county taxes are 6 mills, city taxes are 8 mills, and school board taxes are 7 mills. If homestead property is assessed at 110,000, what are the annual taxes? - Answer: โ
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๏ท a. $1, ๏ท b.$1, ๏ท c. $1, ๏ท d $2,
- The federal, state, and local governments all play a role in the regulation of real estate. Where would the local government have the most impact?
- Answer: โ
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property taxes, building moratoriums, and zoning
- The federal, state, and local governments all play a role in the regulation of real estate. Where would the federal government have the most impact? - Answer: โ
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Civil rights enforcement and monetary policy
- Real estate licensees are expected to be knowledgeable in all of the following areas - Answer: โ
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๏ท Marketing ๏ท Valuation ๏ท Property Transfer
- Are real estate licensees expected to be knowledgeable in accounting? -
Answer: โ
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No
10.The department of Business and Professional Regulation has the authority to issue: - Answer: โ
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๏ท a cease and desist order ๏ท a subpoena ๏ท a notice of noncompliance
11.Can the department of Business and Professional Regulation issue an
injunction? - Answer: โ
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NO
18.As an agent, a broker is employed by and acts on behalf of whom? - Answer: โ
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a principal
19.a transaction broker provides - Answer: โ
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limited representation to both parties
20.what is a an approved depository for earnest money? - Answer: โ
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a bank within the state of Florida
21.depositing earnest money into a stock brokerage firm is called - Answer: โ
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conversion
22.depositing earnest money into a broker's personal checking account is called - Answer: โ
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commingling
23.when two or more real estate brokerage companies participate together in one transaction where no formal paperwork or registration is completed, which type of business relationship has typically been formed? - Answer: โ
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joint venture
24.Which of the following best describes a contract for sale that contains a street address instead of a legal description?
(a) It is not valid under the Statute of Frauds.
(b) It is valid only if witnessed.
(c) It is valid, but may lead to a future dispute.
(d) It is a violation of the Code of Ethics. - Answer: โ
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c) It is valid, but may lead to a future dispute.
25.Which method of legal description uses compass bearings to indicate the direction of boundary lines?
(a) Lot and block system
(b) Government survey method
(c) Plat method
(d) Surveyor's method - Answer: โ
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(d) Surveyor's method
26.What is the primary reference point in a metes and bounds description?
(a) The starting point
(b) The monument or permanent marker, then the point of beginning
(c) The initial reference point
29.What is the main north/south line used in the government survey method?
(a) Prime meridian
(b) Principal longitude
(c) Principal baseline
(d) Principal meridian - Answer: โ
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(d) Principal meridian
30.Which term refers to the area between meridians?
(a) Range
(b) Tier
(c) Section
(d) Acre - Answer: โ
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(a) Range
31.What is the distance between meridians?
(a) 5 miles
(b) 6 miles
(c) 10 miles
(d) 18 miles - Answer: โ
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(b) 6 miles
32.How many sections does a township contain?
(a) 24
(b) 30
(c) 36
(d) 140 - Answer: โ
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(c) 36
33.How many square feet are in one acre?
(a) 43,
(b) 43,
(c) 45,
(d) 45,630 - Answer: โ
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(a) 43,
(a) Tier
(b) Range
(c) Section
(d) Acre - Answer: โ
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(a) Tier
37.Where is the starting point of a government survey in Florida?
(a) Orlando
(b) Jacksonville
(c) Tallahassee
(d) Miami - Answer: โ
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(c) Tallahassee
38.How many acres are in one section?
(a) 5,
(b) 640
(c) 100
(d) 36 - Answer: โ
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(b) 640
39.A tract of land measures 660 feet along the highway and contains 20 acres. How deep is the tract?
(a) 660 ft
(b) 1,320 ft
(c) 5,280 ft
(d) 13,200 ft - Answer: โ
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(b) 1,320 ft
40.How many acres are contained in a parcel of land described by the following legal description? N 1/2 of the NE 1/4 of the SE 1/4 of the SW 1/4 of Section 12, T24S, R13E
(a) 5 acres
(b) 10 acres
(c) 40 acres
(d) 160 acres - Answer: โ
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(a) 5 acres
(a) Section 12
(b) Section 22
(c) Section 32
(d) Section 10 - Answer: โ
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(b) Section 22
44.All of the following statements regarding legal descriptions are correct, EXCEPT:
(a) One section contains 640 acres.
(b) One township contains 6 square miles.
(c) One mile is 5,280 feet long.
(d) One section is one mile square. - Answer: โ
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(b) One township contains 6 square miles.
45.A five acre parcel measures 200 feet along the front roadway. What is the depth of the property?
(a) 620 feet
(b) 982 feet
(c) 1,089 feet
(d) 1,890 feet - Answer: โ
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(c) 1,089 feet
46.How many acres are contained in the NW 1/4 of the NE 1/4 of the SE 1/ of section 17, T1N, R3E?
(a) 2.5 acres
(b) 10 acres
(c) 40 acres
(d) 160 acres - Answer: โ
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(b) 10 acres
47.What section number is immediately south of section 1?
(a) Section 2
(b) Section 6
(c) Section 36
(d) Section 12 - Answer: โ
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(d) Section 12
