FRESA Florida Real Estate Sales Associate Exam - Set 5 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: A property owner in Naples disputes her assessment and learns that the property appraiser must weigh a specific list of statutory considerations in arriving at just valuation, including present cash value and highest and best use. How many factors are they?

Eight statutory factors

Three statutory factors

Five statutory factors

Twelve statutory factors

Question 42: A homeowner in Ocala receives her notice of proposed property taxes and believes the market value shown is far too high. She wants to petition the value adjustment board and asks how long she has to file. Which deadline applies?

Ten days after the notice is mailed

Fifteen days after the notice is mailed

Twenty days after the notice is mailed

Twenty-five days after the notice is mailed

Question 43: A licensee in Ocala explains how local governments set property tax rates and notes that Florida caps what counties and municipalities may levy against real property, apart from levies the voters themselves approve. What is that statutory cap on those levies?

Five mills for each authority

Seven and one half mills

Ten mills for each authority

Fifteen mills for each authority

Question 44: A homeowner in Ocala reviews her annual tax bill from the county and sees the rate expressed in mills instead of as a percentage. What does a single mill represent when it is applied to the taxable value of her property?

One dollar per hundred dollars

One percent of taxable value

Ten dollars per thousand dollars

One dollar per thousand dollars

Question 45: A homeowner in Ocala receives her tax bill in November and notices that paying early earns a discount that shrinks each month until the discount disappears entirely. Which schedule does Florida apply to those payments in each tax year?

Four percent in November, declining monthly

Two percent in November, declining monthly

Five percent in November, declining monthly

No discount is offered for early payment

Question 46: A property owner in Ocala fails to pay her property taxes before they become delinquent on the first of April. What rate of interest does the delinquent amount bear from that day until a tax certificate is sold on that parcel?

Six percent per year

Twelve percent per year

Eighteen percent per year

Twenty-five percent per year

Question 47: An investor in Ocala holds a tax certificate on a delinquent parcel and wants to force a sale of the property itself if the owner never redeems. How long must she wait before she may apply for a tax deed?

Two years after April first

Six months after the certificate is issued

Five years after the certificate is issued

Immediately upon purchasing the certificate

Question 48: A retired couple in Ocala who are both over sixty-five and have limited household income ask whether any additional property tax relief exists beyond the standard homestead exemption they already receive on their home. What should they be told?

No further relief exists in Florida

Counties and cities may grant more

The state grants it automatically statewide

Relief is available only to veterans

Question 49: An owner of a working cattle ranch outside Ocala applies to have her land valued according to how it is actually used rather than according to what a developer might pay for it. Which classification is she seeking?

Homestead classification for the land

Conservation easement classification

Immune property classification

Agricultural classification for bona fide use

Question 50: A couple in Ocala sell the home they have owned and lived in for many years and realize a substantial gain, and their accountant explains a federal provision that may shelter much of that profit from tax. Which provision is that?

Investment property depreciation recapture

The principal residence gain exclusion

The mortgage interest deduction

A like-kind exchange of the property

Congratulations!

You have completed all 5 question sets. Good job!

Go Back to Home

Struggling With Exams?

Less Time Studying, More Time Living – Finish Your Degree Faster! Pay-After-you-Pass!

Get Exam Support