Practice Quiz

Florida Real Estate Exam

Category - Florida

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The economic life of an improvement is the period of time which is:

  1. Equal to, or the same as, the improvement’s physical life
  2. Between the completion of the building and its inability to produce income
  3. Beyond the improvement’s physical life
  4. Over when it stops producing income equal to taxes, maintenance, and utilities
Explanation
Answer B - The economic life of an improvement is the period of time in which it is economically productive.

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