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Real Estate Salesperson Exam — National Portion

Agency (FL): practice questions

Our Real Estate (National) bank has 9 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Florida

Which duties does a Florida transaction broker owe?

  1. Full loyalty and obedience to one party
  2. No duties at all beyond collecting the commission and keeping records
  3. Only the duty to collect the commission
  4. Honesty, fair dealing, accounting for funds, skill and care, disclosure and limited confidentiality
Show the answer

D. Honesty, fair dealing, accounting for funds, skill and care, disclosure and limited confidentiality — They must also present all offers. Transaction brokers don't act as fiduciaries.

Question 2 · Florida

Which brokerage relationship is presumed in Florida unless another is agreed in writing?

  1. Designated sales agent
  2. Transaction broker
  3. Single agent
  4. Dual agent
Show the answer

B. Transaction broker — Dual agency is not allowed in Florida.

Question 3 · Florida

What does limited confidentiality mean for a Florida transaction broker?

  1. Sharing only the commission rate
  2. Not revealing things like the price a seller would accept or a buyer would pay, or a party's motivation
  3. Keeping all facts secret, including defects
  4. Telling the other side everything they ask
Show the answer

B. Not revealing things like the price a seller would accept or a buyer would pay, or a party's motivation — It can be waived in writing.

Question 4 · Florida

How can a Florida single agent relationship become a transaction broker relationship?

  1. With the principal's written consent before the change
  2. Automatically after 30 days
  3. With verbal notice to the other party, at any time during the deal
  4. It can never change
Show the answer

A. With the principal's written consent before the change — Dual agency is not allowed.

Question 5 · Florida

Which duty does a Florida single agent owe that a transaction broker does not?

  1. Loyalty
  2. Accounting for all funds
  3. Using skill, care and diligence
  4. Dealing honestly and fairly
Show the answer

A. Loyalty — Single agents also owe obedience, confidentiality and full disclosure.

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