Practice Quiz

Florida Real Estate Exam

Category - Florida

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If a person borrows money and uses the services of a real estate broker in the capacity of a loan broker, the interest on the new loan would begin:

  1. When the money is placed in escrow by the lender
  2. When the money is delivered to the borrower
  3. When the loan broker’s statement is signed
  4. Either (a) or (b)
Explanation
Answer D - Charges for the use of money begin when the money is at the command of the borrower. Choices a) and b) could be evidence that the money is at the borrower’s disposal.

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