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GOLD COAST 45 HOUR EXAM QUESTIONS (EXAM VERSION H 2023)
UPDATED ALREADY PASSED
"Which document describes your overall goal as a professional in the real-estate business? - CORRECT
ANSWER Mission Statement"
"Which real-estate specialist handles day-to-day management on the behalf of an absentee owner? -
CORRECT ANSWER Property Manager"
"The R-valve is a measurement of what aspect of a building? - CORRECT ANSWER Thermal Resistance
or the ability of an object or material to resist the flow of heat" "What term is used for the practice of specializing in one particular residential neighborhood or type of
property? - CORRECT ANSWER Farming"
"empty - CORRECT ANSWER "
"upon closing a sales transaction who pays the sales associate their contracted commission? - CORRECT
ANSWER Employing Broker"
"Why is it important for a door that leads from the living area to the garage to be solid core? -
CORRECT ANSWER It acts as a retardant for added protection to the occupants"
"what is the main difference between owning a cooperative and owning a condominium? - CORRECT
ANSWER When you buy a condo, you own the unit and a percentage of the common areas. When you
buy a co-op, you actually purchase a share of the property, and your lease enables you to live in a unit." "Home sold for $250k with a garage, a home sold in the area for $230k with no garage. From this
information what can you determine the approximate value of the garage is? - CORRECT ANSWER
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"The NAR code of ethics specifies duties of real-estate professionals according to ethical standard of
conduct. All of the following except? - CORRECT ANSWER Duties"
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"What is primary purpose of building code regulations? - CORRECT ANSWER to protect public health,
safety and general welfare"
"which auction system is involved with the enforcement of liens due to borrower default? - CORRECT
ANSWER Courthouse Auction"
"Which type of listing allows an owner to list his or her property with more than one broker? -
CORRECT ANSWER Open Listing"
"Which investment term refers to an asset that cannot be sold quickly without lowering the price? -
CORRECT ANSWER illiquid"
"empty - CORRECT ANSWER "
"Which home staging and prep tip is suggested to help make home more appealing? - CORRECT
ANSWER Brighten room, cleaning window & turning on lights"
"What does a "double entry" refer to on a closing disclosure statement? - CORRECT ANSWER Expenses
between two parties to the transaction, with no third party involved."
"What are the benefits of using a VA loan in a transaction? - CORRECT ANSWER little to no money
down and low interest rates" "What type of brokerage business specializes in selling or leasing income-producing properties such as
malls, offices, restaurants, gas stations, and office towers? - CORRECT ANSWER Commercial
Brokerage"
"empty - CORRECT ANSWER "
"Which of the following statement best describes the practice of steering? - CORRECT ANSWER Is the
practice of directing homebuyers toward or away from homes in certain neighborhoods or in a multiunit building in order to preserve or alter the makeup of that neighborhood with respect to race, religion, sex, or national origin." "It is important to qualify a seller by asking questions to understand there motive and expectations. All
of the following would be good questions except? - CORRECT ANSWER "
"Which is always actually paid by a buyer? - CORRECT ANSWER "
for a certain number of days at a reasonable price in order for the lender to feel confident that the short sale offers being presented are legitimate offers from legitimate buyers in that real estate market."
"empty - CORRECT ANSWER "
"Which type of property provides the owner with a deed and a fraction share of ownership for a
specified interval of use? - CORRECT ANSWER Timeshare"
"A buyer purchased a home with a title stating "subject to" mortgage. - CORRECT ANSWER It means
that the seller is not paying off the existing mortgage. Instead, the buyer is taking over the payments." "Which of the following primary mortgage market institutions holds a major portion of the savings of the American public and is the largest source of funds for financing both apartment projects and commercial
properties? - CORRECT ANSWER Life Insurance Companies"
"empty - CORRECT ANSWER "
“Property managers who are employed and compensated by community associations are required to
obtain and maintain which type of license? - CORRECT ANSWER CAM"
"which source will most likely produce the greatest # of potential buyers for a listing? - CORRECT
ANSWER Putting your listing on the MLS"
"Which property is considered residential property according to the Florida Status? - CORRECT
ANSWER Residential property is four units or fewer; Including condominium units."
"empty - CORRECT ANSWER "
"When does a foreclosure process officially begin? - CORRECT ANSWER "
"Which chapter of the florida statue regulate real-estate licensees, schools, appraisers? - CORRECT
ANSWER 475"
"empty - CORRECT ANSWER "
"Which of the following is a characteristic of a typical conventional loan? - CORRECT ANSWER "
"All of the following items are components of a typical AC system except? - CORRECT ANSWER Temp
and Pressure Release Valve"
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"What action term means that what buyer sees is what buyer gets? - CORRECT ANSWER "
"What is unique about a "subject to" purchase agreement? - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"Which statement is accurate regarding home inspections? - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"What is the term used for the illegal practice of refusing mortgage financing or insurance based on the
racial composition of the area? - CORRECT ANSWER redlining"
"What accounting principle allows an investor to write off the cost of his or her investment in income
producing property over period of time? - CORRECT ANSWER tax depreciation"
"empty - CORRECT ANSWER "
"all of the following are typical penalties that might be imposed for a first time minor violation of the
Florida real-estate license law except? - CORRECT ANSWER "
"The fair housing laws allow for certain exceptions. However, exceptions are never permitted for which
type of discrimination? - CORRECT ANSWER discrimination against race"
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"all of the following are typical goals for a property investor except? - CORRECT ANSWER "
"What is states by a statue of frauds? - CORRECT ANSWER is a legal doctrine that requires certain
types of contracts be in writing."
"Which is an example of a secondary mortgage market lender? - CORRECT ANSWER Fannie Mae,
Freddie Mac, and Ginnie Mae"
"Which type of property does an owner own a percentage of a property common elements in addition
to their individual unit? - CORRECT ANSWER "
"When can a lender obtain a deficiency judgment against a borrower? - CORRECT ANSWER When a
mortgage foreclosure sale does not produce sufficient funds to pay the loan in full, the lender can obtain a deficiency judgment."
"What is main advantage of masonry exterior walls compared to wood framed exterior walls? -
CORRECT ANSWER Masonry provides more strength advantages"
"What is purpose of truth in lending act? - CORRECT ANSWER It requires lenders to provide you with
loan cost information so that you can comparison shop for certain types of loans."
"empty - CORRECT ANSWER "
"empty - CORRECT ANSWER "
"1.A
2.D
3.D
4.A
5.B
6.A
7.A
8.C
9.B
10.B
11.A
12.A
13.C
14.B
15.B
16.C
17.B
18.D
19.C
20.D
21.B
22.B
23.C
24.C
25.B
26.B
27.D
28.B
29.C
30.B
31.D
32.A
33.B
34.A
35.B
36.D
37.C
38.C
39.D
40.C
41.C
42.D
43.A
44.A
45.C
46.D
47.C
48.C
49.C
50.A
51.C
52.B
53.A
54.B
55.D
56.C
57.C
58.A
59.B
60.A
61.D
62.B
63.A
64.D
65.B
66.B
67.C
68.B
69.A
70.C
