FRESA - Florida Real Estate Sales Associate Exam

Question 1: A buyer in Ocala who was declared legally incompetent by a court last year signs a purchase contract for a home while her guardian is out of town for the week. Does the seller have a binding agreement with that buyer?

Yes, because the buyer signed voluntarily

Yes, because the price was fair

No, competent parties are an essential element

No, because guardians must sign all contracts

Question 2: A seller in Naples promises to convey her home to a buyer, and that buyer promises to pay a stated price at the closing table. Which element of a valid contract does that mutual exchange of promises actually supply?

Consideration

Legal purpose

Acceptance

Delivery

Question 3: A seller in Bradenton believes a buyer broke an agreement the two of them made verbally more than four years ago, and she now wants to sue. What limitations period applies to an action on an oral contract like hers?

One year from the breach

Two years from the breach

Three years from the breach

Four years from the breach

Question 4: A buyer in Ocala wants a court to compel a seller to convey the property she agreed to sell, rather than seeking money damages for the refusal. How long does she have to bring that particular action for specific performance?

One year

Two years

Four years

Five years

Question 5: A homeowner in Ocala calls a plumber for an emergency repair, watches the work being completed, and says nothing at all about payment. The plumber later sends a bill. Which kind of contract did their conduct create between them?

An express written contract

A void agreement

A unilateral option contract

An implied contract

Question 6: A buyer and a seller in Ocala sign a contract that satisfies every element of formation, yet a court will not assist either of them in enforcing it because a required writing was never completed properly. How is that contract classified?

Void from the beginning

Voidable by the seller

Unenforceable

Executed and complete

Question 7: A sales associate in Fort Myers drafts a custom addendum from scratch, adding original clauses about title curative work and seller financing terms for a complicated commercial transaction. Why does her broker raise a serious concern about that work?

Addenda must be notarized before signing

Only the seller may draft an addendum

Addenda require commission approval first

Drafting original instruments is unlicensed practice

Question 8: A seller in Naples signs a listing under which the brokerage earns a commission no matter who finds the buyer, including the seller herself acting alone. Which listing arrangement has she signed with that brokerage firm in Naples?

Open listing

Exclusive right to sell listing

Exclusive agency listing

Net listing agreement

Question 9: A seller in Ocala engages one brokerage exclusively but reserves the right to sell the property herself without paying any commission if she finds the buyer through her own efforts. Which listing has she created with that firm?

Open listing

Exclusive right to sell listing

Exclusive agency listing

Buyer representation agreement

Question 10: A brokerage in Ocala produces a buyer who is ready, willing, and able to purchase on exactly the terms stated in the listing, and the seller then refuses to sell for personal reasons. What becomes of the brokerage's commission?

No commission is owed without a closing

Half the commission is owed by custom

The commission depends on the buyer suing

The commission is generally earned

Question 11: A buyer in Ocala assumes her property taxes will match the amount the current owner has been paying for years. Florida requires a specific written warning about that assumption before she signs a contract. Which warning does Florida require?

A warning that taxes never increase

A warning that exemptions transfer automatically

Do not rely on current taxes

Taxes are paid at closing

Question 12: A seller in Vero Beach is selling a home that sits partly seaward of the coastal construction control line. Which document must she give the buyer unless that buyer waives the requirement in writing before the closing takes place?

A wind mitigation report

A soil compaction study

An elevation certificate from the county

An affidavit or survey showing the line

Question 13: A buyer in Ocala is purchasing a home built decades before nineteen seventy-eight. Federal law requires the seller to give her specific information and an opportunity to test before she becomes obligated. What must the seller provide to satisfy that rule?

A lead-based paint disclosure and pamphlet

A radon measurement performed by the seller

A mold remediation certificate

An asbestos survey of the structure

Question 14: A buyer in Ocala signs a purchase contract and delivers her deposit, and the seller signs as well. Before closing, the buyer holds an interest in the property that courts will recognize and protect. What is that interest called?

Legal title to the property

A possessory leasehold interest

Equitable title

A lien against the property

Question 15: A buyer in Ocala includes a provision allowing her to have the home professionally examined and to cancel if serious defects appear, with her deposit returned. What does that provision do to the seller's obligation to close on the sale?

It makes the contract void immediately

It conditions performance on a stated event

It converts the contract into an option

It eliminates the seller's right to damages

Question 16: A buyer and a seller in Ocala both perform every obligation under their purchase contract, the deed is delivered, and the funds are disbursed at closing. How is that contract classified once everything has been carried out in full?

Executory

Voidable

Unenforceable

Executed

Question 17: A buyer in Ocala insists that the seller promised to leave the washer and dryer, though the signed purchase contract says nothing about appliances and contains a clause stating that it is the complete agreement between the parties. Which rule applies?

The parol evidence rule

The statute of frauds

The doctrine of laches

The rule against perpetuities

Question 18: A tenant in Ocala transfers her remaining lease term to another person entirely, keeping nothing back and reserving no right to return to the space at any point before the term ends. What has she done to that person?

Created a sublease with the new occupant

Assigned the lease to the new tenant

Terminated the lease by operation of law

Converted the tenancy into a periodic one

Question 19: A buyer in Ocala defaults on a purchase contract that contains no liquidated damages provision, and the seller wants to know what options the law generally leaves open to him after that refusal. Which options remain available to him?

Damages, specific performance, or rescission

Keep the deposit and sue fully

Force purchase of another property

Report the buyer for discipline

Question 20: A borrower in Ocala pays off her mortgage in full, and a clause in the instrument obliges the lender to release its lien and return the property to her free of the debt. Which clause performs that function?

Acceleration clause

Alienation clause

Defeasance clause

Escalation clause

FRESA Florida Real Estate Sales Associate Exam - Set 4 - Part 1