Practice Quiz

Florida Real Estate Exam - Question List

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131.
A home was listed for sale for $35,000.  The broker was instructed by the owner to accept a deposit on the purchase price of “no less than $1,000” and drew up an offer on a standard deposit receipt form.  The broker could only get the buyer to submit a $500 deposit.  Should the contract later be defaulted by an act of the buyer, the broker would be entitled to:

  1. 6% of the listing price
  2. Up to one-half of the forfeited deposit
  3. One-half of the normal commission
  4. Nothing
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132.
Baker sold 640 acres of land to Garcia by agreement and deed which provided, “Seller retains rights to all minerals and materials of the earth under this land.”  Shortly thereafter, while Garcia was preparing his land for cultivation, Baker appeared with oil drilling equipment.  Garcia refused to allow him on the land.  Baker sued Garcia.  Based on the foregoing information, the judge’s decision should be:

  1. Baker has the right to enter on Garcia’s land to drill for oil
  2. Baker has no right of entry on Garcia’s land because the agreement and deed did not provide therefore
  3. Baker may drill below Garcia’s land but must do so from outside its boundaries
  4. Baker may enter Garcia’s land only below 500 feet under the surface
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133.
If the city acquires land for public streets by dedication, the grantor may seek to have the land returned to him if:

  1. He retakes it, it would be adverse possession
  2. The conveyed easement has been abandoned by the city
  3. The city failed to pay “just compensation”
  4. The city fails to maintain the streets
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134.
For which of the following reasons would the planning commission be most likely to reject a subdivision plan:

  1. For use of private roads
  2. For use of septic tanks
  3. For use of sidewalks
  4. For use of street lights
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135.
Mr. Parker is holding $300 in an impound account on a Trust Deed on which he has been receiving payments from Mr. Carroll.  Which of the following is true concerning the impound account?

  1. He may draw interest on the account if placed in a savings and loan association
  2. It should always have a constant balance equal to one year’s taxes and insurance
  3. It cannot exceed by more than 5% the amount needed for one year’s taxes and insurance
  4. It benefits the trustor and the beneficiary
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