Florida Real Estate Exam Flashcards

Q: What topics do these Florida real estate flashcards cover?

They focus on Florida-specific rules tested on the sales associate exam, including FREC authority, licensing, brokerage relationships, escrow, contracts, disclosures, homestead, property taxes, landlord-tenant law, and advertising.

Q: Are these flashcards enough to pass the Florida real estate exam?

Flashcards are useful for recall of rules and distinctions, but candidates should also study the full guide, work practice questions, and review Florida-specific scenarios such as transaction brokerage, escrow disputes, and required disclosures.

Question 1

Florida Real Estate Commission (FREC)

Accepted Answer

The commission within DBPR that regulates Florida real estate licensees, sets education standards, adopts rules, and handles discipline for license law violations.

Question 2

Division of Real Estate (DRE)

Accepted Answer

The DBPR division that supports FREC by processing applications, maintaining license records, collecting fees, and assisting with investigations and commission operations.

Question 3

Chapter 475, Florida Statutes

Accepted Answer

Florida's real estate license law. It covers licensure, broker and sales associate duties, prohibited conduct, and FREC disciplinary authority.

Question 4

Chapter 61J2, Florida Administrative Code

Accepted Answer

The administrative rules adopted by FREC to implement Florida real estate statutes, including practice, education, and discipline procedures.

Question 5

FREC membership

Accepted Answer

FREC has 7 Governor-appointed members confirmed by the Senate: 4 licensed brokers, 2 licensed sales associates, and 1 consumer member.

Question 6

Florida sales associate exam format

Accepted Answer

The exam has 100 multiple-choice questions, a 3 hour 30 minute time limit, and a 75% passing score.

Question 7

Sales associate pre-license education

Accepted Answer

Florida sales associate candidates complete a 63-hour FREC-approved pre-license course before qualifying for the state exam.

Question 8

Course completion certificate

Accepted Answer

The Florida pre-license course completion certificate is valid for 2 years, so the candidate must complete the application and exam process within that window.

Question 9

Sales associate post-license education

Accepted Answer

A new Florida sales associate must complete 45 hours of post-license education before the first renewal. Missing this requirement can make the license null and void.

Question 10

Continuing education after the first renewal

Accepted Answer

After the initial post-license period, Florida real estate licensees complete 14 hours of continuing education during each 2-year renewal cycle.

Question 11

Inactive sales associate license

Accepted Answer

A Florida sales associate cannot perform licensed services while inactive. The license must be placed with and activated through a registered broker or owner-developer.

Question 12

Broker associate

Accepted Answer

A person who holds a broker license but chooses to work under another broker instead of operating independently.

Question 13

Group license

Accepted Answer

A Florida license arrangement that lets a sales associate work for an owner-developer through multiple brokers registered with the same owner-developer.

Question 14

Real Estate Recovery Fund

Accepted Answer

A fund that may compensate consumers harmed by licensee misconduct. Payment from the fund results in automatic suspension until the licensee repays the fund.

Question 15

FREC discipline

Accepted Answer

FREC can issue reprimands, place a licensee on probation, impose fines up to $5,000 per violation, suspend a license, or revoke a license.

Question 16

Unlicensed real estate activity in Florida

Accepted Answer

Performing real estate services for another for compensation without a valid license is treated as a serious license law violation and can be a third-degree felony.

Question 17

Florida brokerage relationship types

Accepted Answer

Florida recognizes single agent, transaction broker, and no brokerage relationship. Traditional dual agency is not a separate permitted relationship.

Question 18

Transaction broker

Accepted Answer

Florida's default brokerage relationship. The licensee provides limited representation without full fiduciary duties to either party.

Question 19

Single agent

Accepted Answer

A Florida brokerage relationship with full fiduciary duties to one party, including loyalty, confidentiality, obedience, full disclosure, accounting, and skill and care.

Question 20

No brokerage relationship

Accepted Answer

A nonrepresentation relationship in which the licensee still must deal honestly and fairly, disclose known material facts, and account for entrusted funds.

Question 21

Consent to transition

Accepted Answer

A single agent must obtain written consent before changing to transaction broker status because the client is giving up full fiduciary representation.

Question 22

Limited confidentiality

Accepted Answer

A transaction broker may not reveal facts such as a buyer's willingness to pay more, a seller's willingness to accept less, or a party's motivation without permission.

Question 23

Known material facts

Accepted Answer

Florida licensees must disclose known facts that materially affect property value and are not readily observable, even when those facts are unfavorable to a client.

Question 24

Johnson v. Davis

Accepted Answer

The Florida case that established a seller's duty to disclose known material defects that affect value and are not readily observable to the buyer.

Question 25

Radon gas disclosure

Accepted Answer

Florida requires a statutory radon notice in real estate contracts for buildings. The rule requires disclosure, not a radon test or remediation.

Question 26

Lead-based paint disclosure

Accepted Answer

For most residential property built before 1978, federal law requires disclosure of known lead hazards and delivery of the EPA lead pamphlet before the buyer is bound.

Question 27

Stigmatized property facts

Accepted Answer

Florida does not require disclosure that a property was the site of a death or that a former occupant had HIV/AIDS, because these are not treated as physical material defects.

Question 28

Sinkhole disclosure

Accepted Answer

Known sinkhole activity, claims, testing, or repairs should be disclosed because sinkhole history can materially affect value, insurability, and buyer decisions.

Question 29

Coastal Construction Control Line (CCCL)

Accepted Answer

A Florida coastal regulation line affecting construction on beach and dune property. Building seaward of the line generally requires special permitting.

Question 30

Wetlands and protected species

Accepted Answer

Florida wetland property may require permits from state, federal, or water management authorities, and protected species can restrict development plans.

Question 31

Special Flood Hazard Area

Accepted Answer

A FEMA-mapped high-risk flood area. Flood insurance is required when the property is in a Special Flood Hazard Area and has a federally backed mortgage.

Question 32

Earnest money deposit deadline

Accepted Answer

A Florida broker who receives escrow funds must place them in escrow by the end of the third business day after receipt, unless a later contract-based deadline applies.

Question 33

Escrow dispute options

Accepted Answer

When a Florida broker has good faith doubt about disputed escrow funds, available paths include mediation, arbitration, interpleader, or requesting a FREC escrow disbursement order.

Question 34

Escrow Disbursement Order (EDO)

Accepted Answer

A FREC process that can direct how disputed escrow funds should be released when the broker properly seeks administrative guidance.

Question 35

Commingling

Accepted Answer

Mixing trust funds with broker personal or business funds. Florida permits only limited broker funds in an escrow account for opening or maintaining the account.

Question 36

FAR/BAR residential contract

Accepted Answer

A commonly used Florida residential contract developed by Florida Realtors and The Florida Bar. It is not a FREC-promulgated state form.

Question 37

As-Is contract

Accepted Answer

A Florida buyer may inspect and cancel during the inspection period, but the seller is not obligated to make repairs unless the contract says otherwise.

Question 38

Effective date

Accepted Answer

In the Florida residential contract context, many deadlines run from the date the last party signs or initials the final offer or counteroffer.

Question 39

Statute of frauds

Accepted Answer

Florida real estate sale contracts generally must be in writing and signed by the party to be charged to be enforceable.

Question 40

Homestead tax exemption

Accepted Answer

Florida homestead can reduce assessed value by up to $50,000, with the first portion applying to all taxes and the additional portion applying to non-school taxes.

Question 41

Save Our Homes cap

Accepted Answer

For homestead property, annual assessed value increases are capped at 3% or the Consumer Price Index, whichever is lower.

Question 42

Save Our Homes portability

Accepted Answer

A Florida homeowner may transfer up to $500,000 of accumulated Save Our Homes benefit to a new Florida homestead if statutory timing rules are met.

Question 43

Documentary stamp tax on deeds

Accepted Answer

In most Florida counties, documentary stamp tax on deeds is calculated at $0.70 per $100 of consideration. Local custom often determines which party pays.

Question 44

Intangible tax on new mortgages

Accepted Answer

Florida imposes a nonrecurring intangible tax of 2 mills, or $0.002 per dollar, on new mortgages secured by Florida real property.

Question 45

Florida property tax proration

Accepted Answer

Florida property taxes are based on the calendar year and are paid in arrears, so closings commonly credit the buyer for the seller's unpaid share.

Question 46

Security deposit return

Accepted Answer

Under Florida residential landlord-tenant law, a landlord returns the deposit within 15 days if making no claim, or sends a claim notice within 30 days.

Question 47

Notice for nonpayment of rent

Accepted Answer

Florida residential eviction for unpaid rent starts with a 3-day notice to pay or vacate, excluding weekends and legal holidays.

Question 48

Condominium vs. cooperative ownership

Accepted Answer

A condo owner owns the unit plus an interest in common elements. A co-op resident owns shares in the corporation and receives occupancy rights through a proprietary lease.

Question 49

HOA disclosure summary

Accepted Answer

For property subject to a Florida homeowners' association, the buyer should receive a disclosure summary about mandatory membership, assessments, restrictions, and governing documents.

Question 50

Brokerage name in advertising

Accepted Answer

Florida real estate advertising must clearly include the registered brokerage name. Blind ads and team ads that imply a separate brokerage can violate advertising rules.

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