Florida Real Estate Practice Questions - Page 18

692 practice questions

1. Chapter 15 An investor is purchasing a triplex in Tampa, Florida. Each of the three units rents for $1,800 per month. The closing is scheduled for November 18, and all rents for the month were collected by the seller on November 1. If the day of closing belongs to the buyer, what is the rent proration for this transaction, and who receives the credit?
2. Chapter 15 A 15.3-acre parcel of land in Duval County sells for $9,550 per acre. What is the documentary stamp tax on the deed?
3. Chapter 15 How is the principal balance of an assumed mortgage entered on the Closing Disclosure?
4. Chapter 15 How are prorated property taxes (which are paid in arrears) entered on the Closing Disclosure?
5. Chapter 15 How is the purchase price entered on the Closing Disclosure?
6. Chapter 15 The closing date is October 20. The buyer is assuming the seller’s existing mortgage loan, which has a principal balance of $315,000 at a 5.5% interest rate. The day of closing is charged to the buyer. What is the interest proration for the month of closing, and how is it entered on the Closing Disclosure?
7. Chapter 16 Which physical characteristic of real estate refers to the fact that no two parcels of land are exactly the same?
8. Chapter 16 The physical characteristic stating that land cannot be moved from one place to another is known as:
9. Chapter 16 Because land is durable and cannot be destroyed, it is considered to have the physical characteristic of:
10. Chapter 16 Which of the following is an economic characteristic of real estate involving government influence?
11. Chapter 16 How does the real estate market typically respond to changes in supply and demand?
12. Chapter 16 The economic characteristic "Situs" refers to:
13. Chapter 16 Real estate prices are directly affected by the interaction of:
14. Chapter 16 Which of the following is a variable that influences the supply of real estate?
15. Chapter 16 The availability of financing for developers and builders refers to which supply variable?
16. Chapter 16 A scarcity of raw land available for development would directly influence which market force?
17. Chapter 16 Which of the following is a key variable influencing the supply of real estate?
18. Chapter 16 Which of the following is a variable that influences the demand for real estate?
19. Chapter 16 When mortgage credit becomes difficult to obtain (high interest rates or strict underwriting), what happens to demand?
20. Chapter 16 Changes in population numbers and household composition are variables that influence:
21. Chapter 16 A buyer’s market is defined as a condition where:
22. Chapter 16 When the demand for housing exceeds the available supply, the market is said to be a:
23. Chapter 16 The percentage of unoccupied rental units in a given market is known as the:
24. Chapter 16 There are 128 apartments rented in a 160-unit apartment building. What is the building’s occupancy rate?
25. Chapter 16 In real estate, which of the following best describes the economic characteristic of land known as "situs"?
26. Chapter 16 A property manager reports that 378 apartments are currently rented in a 450-unit luxury apartment complex. What is the building’s current occupancy rate?
27. Chapter 16 When the equilibrium of the real estate market is upset by an excess supply of available homes, which of the following conditions is created?
28. Chapter 16 What is the technical real estate and demographic definition of one person, or a group of persons, occupying a separate housing space?
29. Chapter 16 Which physical characteristic of land refers to the fact that no two parcels of real estate are exactly alike, also known as uniqueness?
30. Chapter 16 Which physical characteristic of real estate refers to the fact that the geographic surface of the earth is highly durable and cannot be permanently destroyed or worn out?

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