1. An applicant under a Florida mutual recognition agreement must pass a Florida law exam of 40 questions with at least
Answer & explanation
Answer: C. DBPR's mutual recognition requirements call for a 40-question Florida law exam with a passing score of 30.
2. A buyer offers $410,000. The seller responds with a counteroffer at $425,000. The buyer refuses, and the seller then says, 'Fine, I accept your $410,000 offer.' Which is correct?
Answer & explanation
Answer: D. A counteroffer is a rejection of the original offer plus a new offer. Once the seller countered, the $410,000 offer was gone and could not be accepted later. The seller's statement is at most a new offer, which the buyer may accept or reject.
3. The legal basis for courts ordering specific performance of real estate contracts is that real estate is
Answer & explanation
Answer: C. Because every parcel is unique, money damages may not adequately compensate a buyer, so courts can order the seller to convey. Uniqueness also explains why appraisers adjust comparables.
4. A buyer and seller orally agree on all terms of a home sale, and neither signs anything. Under Florida law the agreement is
Answer & explanation
Answer: C. Section 725.01 requires contracts for the sale of land to be in writing and signed by the party to be charged. An oral land contract is not void (the parties may still perform voluntarily) but a court will not enforce it, so it is unenforceable.
5. Which item is NOT among the elements s. 475.25(1)(r), F.S. requires in a written listing agreement?
Answer & explanation
Answer: A. The statute requires a definite expiration date, property description, price and terms, fee or commission, and the principal's signature. A cooperating broker is usually unknown when the listing is signed and is not required.
6. A borrower with both a first and a second mortgage offers the first-mortgage lender a deed in lieu of foreclosure. The first lender is most likely to refuse because
Answer & explanation
Answer: A. A deed in lieu conveys the property but does not eliminate junior liens; only foreclosure, in which junior lienholders are named defendants, cuts them off. A lender would therefore take the property subject to the second mortgage.
7. A written Florida listing agreement says it renews for successive 6-month terms unless the seller sends written notice of cancellation after the end date. This clause
Answer & explanation
Answer: D. The statute prohibits any provision requiring the person signing the listing to notify the broker of an intent to cancel after the definite expiration date. An auto-renewal that continues unless the seller gives notice does exactly that.
8. A seller orally tells his transaction broker not to present any offer under $300,000. A $290,000 offer arrives. The licensee should
Answer & explanation
Answer: B. Offers must be presented timely unless a party has previously directed otherwise in writing. An oral instruction does not meet the statute.
9. Where must the community development district disclosure appear in a contract for the initial sale of a home within a CDD?
Answer & explanation
Answer: B. Section 190.048 requires the disclosure in boldfaced, conspicuous type larger than the rest of the contract, immediately before the space for the buyer's signature.
10. A buyer meets an associate at a home and the associate shows it. Afterward, at the office, they sign a single agent buyer agreement and notice. Which is correct?
Answer & explanation
Answer: D. The single agent notice must be given before showing property if the showing comes before the representation agreement.
11. Which of the following is NOT an essential element of a valid real estate sales contract in Florida?
Answer & explanation
Answer: A. Recording gives public notice and protects against later claims, but a contract is valid between the parties without being recorded. Competent parties, consideration, and offer and acceptance (along with lawful purpose and a signed writing) are essential elements.
12. If a seller fails to give the buyer the HOA disclosure summary before the contract is signed, the buyer may void the contract
Answer & explanation
Answer: A. Section 720.401(1)(c) gives the buyer the right to void within 3 days after receiving the summary or before closing, whichever occurs first; the right cannot be waived. The 7-business-day period belongs to condo resales.
13. A 17-year-old signs a contract to sell a lot she inherited to an adult buyer. The contract is
Answer & explanation
Answer: B. A contract with a minor is voidable at the minor's option; the adult remains bound unless the minor disaffirms. It is not void, because it has legal effect until the minor cancels. The adult cannot use the minor's age to escape.
14. In a typical Florida residential sale using the FR/Bar contract, the documentary stamp tax on the deed is customarily paid by the
Answer & explanation
Answer: C. By Florida custom and the FR/Bar default terms, the seller pays deed stamps, while the buyer pays note stamps and intangible tax on new financing.
15. A 5-acre tract is offered at $3.25 per square foot. What is the asking price?
Answer & explanation
Answer: C. Square feet = 5 x 43,560 = 217,800. Price = 217,800 x $3.25 = $707,850. $217,800 is the square footage, not the price; $141,570 is the price of only one acre.
16. A signed sales contract that has not yet closed is best described as
Answer & explanation
Answer: A. An executory contract has obligations yet to be performed. It becomes executed when fully performed at closing. A sales contract is bilateral, not unilateral, because both parties have made promises.
17. Under the FR/Bar residential contract, when a buyer defaults the seller's typical remedy is to
Answer & explanation
Answer: A. The FR/Bar forms provide that on buyer default the seller may retain the deposit as agreed liquidated damages, consideration for the contract, and full settlement of claims, and both parties are released.
18. A timeshare plan that gives the buyer only a contractual right to use a unit for one week a year, without a fee interest, is a
Answer & explanation
Answer: A. A timeshare license (right-to-use) is a contractual right without a real property interest. A timeshare estate conveys a deeded real property interest.
19. The gross tax bill for 2026 is estimated at $5,000, and the contract prorates taxes with allowance for the maximum discount. Closing is June 30, 2026, and the buyer owns the day of closing. What is the seller's share?
Answer & explanation
Answer: A. Step 1: Maximum discount is 4% (November), so $5,000 x 0.96 = $4,800. Step 2: Seller's days Jan 1 to Jun 29 = 31+28+31+30+31+29 = 180. Step 3: $4,800 / 365 x 180 = $2,367.12, debited to the seller. $2,465.75 ignores the discount; $2,380.27 gives the seller 181 days.
20. Which event would NOT automatically terminate a listing agreement?
Answer & explanation
Answer: B. The listing contract is between the seller and the broker, so the death of either the broker or the seller terminates it, as does destruction of the property. The sales associate is not a party to the listing, so the associate's death does not end it.
21. Which of the following is an example of a unilateral contract?
Answer & explanation
Answer: C. In an option, only the optionor (owner) is bound; the optionee may choose to buy or not, so it is a promise for an act. The listing, sales contract, and lease all involve mutual promises and are bilateral.
22. A buyer agreement states the buyer's broker will receive 2.5% of the purchase price. The seller offers to pay the buyer's broker 3%. Under the post-settlement rules, the buyer's broker may
Answer & explanation
Answer: D. The written buyer agreement must state an objective compensation amount, and the broker may not receive compensation from any source that exceeds that amount. Any seller-paid amount above 2.5% would need a written amendment or should benefit the buyer, for example as a concession.
23. A buyer's written offer states it will remain open until 5:00 p.m. Friday. On Thursday, before the seller has accepted, the buyer calls the listing associate and withdraws the offer. The withdrawal is
Answer & explanation
Answer: A. An offeror may revoke an offer any time before acceptance is communicated, even if the offer names a deadline, unless the offeree paid consideration for an option to keep it open. No consideration was paid here, so revocation is effective.
24. Under current Florida law, a buyer of a resale condominium unit who did not receive the required documents before signing may void the contract within
Answer & explanation
Answer: B. Section 718.503(2) as currently written provides a 7-day window excluding weekends and legal holidays, and the right ends at closing. The 3-day period appears in older materials and is outdated.
25. A title company offers a Florida sales associate a $250 gift card for each buyer the associate refers to it. Under RESPA this is
Answer & explanation
Answer: B. RESPA Section 8 prohibits giving or accepting anything of value for referrals of settlement-service business in a federally related mortgage transaction. Disclosure or broker approval does not cure a kickback.
Sources
Source verification pending. Confirm current requirements with your state regulator.