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Unit Name |
Lesson |
Learning Objectives |
| 100 |
The Real Estate Business |
Reading Assignment |
After completing this unit, the
student should be able to:
define farm area; |
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identify reasons why property management has grown in importance; |
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define absentee owner; |
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define residential real estate; |
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describe the appraisal process; |
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identify the reasons for the
method of compensation for appraisal services; and |
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distinguish
among the three categories of residential construction. |
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Reading Comprehension Quiz 1 |
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Interactive Exercises |
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Unit Exam 1 |
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| 120 |
License Law and Qualifications for Licensure |
Reading Assignment |
After completing this unit, the
student should be able to:
define sales associate, broker
associate, and broker; |
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list
the academic requirements for sales associate and broker licenses; |
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list
the application requirements for sales associate and broker licenses; |
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identify services of real estate
requiring licensure; |
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recognize exemptions from
licensure; and |
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distinguish
between post-licensing education and continuing education. |
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Reading Comprehension Quiz 2 |
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Unit Exam 2 |
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120
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License Law and Administration |
Reading Assignment |
After completing this unit, the
student should be able to:
describe
the composition and member qualifications of the Florida Real Estate
Commission; |
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explain how members of the
Commission are appointed; |
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distinguish between active and
inactive license status; |
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explain the purpose of multiple
and group licenses; and |
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distinguish between void
licenses and ineffective licenses. |
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Reading Comprehension Quiz 3 |
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Unit Exam 3 |
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190
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Brokerage Relationships and
Ethics |
Reading Assignment |
After completing this unit, the
student should be able to:
distinguish between the terms
general agent and special agent; |
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describe which legal provisions
apply only to residential real estate transactions; |
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describe
the duties and disclosure requirements of a transaction broker; |
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describe the duties and
disclosure requirements that single agents have to their principals; |
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define a dual agent; |
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describe the purpose and
requirements of the no brokerage relationship notice; |
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list the no brokerage
relationship duties; |
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describe the process of
transition from a single agent to a transaction broker; |
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identify actions that will
terminate an agency; and |
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recognize activities that are
considered to be fraudulent. |
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Reading Comprehension Quiz 4 |
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Interactive Exercises |
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Unit Exam 4 |
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| 205 |
Real Estate Brokerage Options |
Reading Assignment |
After completing this unit, the
student should be able to:
identify the requirements for a
broker's office(s); |
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explain what determines whether
a temporary shelter must be registered as a branch office; |
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list the requirements related to
sign regulation; |
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list the requirements related to
the regulation of advertising by real estate licensees; |
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explain the term immediately as
it applies to earnest money deposits; |
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describe the four settlement
procedures available to a broker who has received conflicting demands or who
has a good-faith doubt as to who is entitled to disputed funds; |
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list the rule requirements for
the handling of advance fees; |
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explain the rule regarding the
advertisement of rental property information or lists or negotiation of
rentals; |
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describe the obligations placed
on a sales associate who changes employers; and |
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contrast
the features of the various types of business organizations. |
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Reading Comprehension Quiz 5 |
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Interactive Exercises |
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Unit Exam 5 |
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| 173 |
Complaints, Violations, and
Penalties |
Reading Assignment |
After completing this unit, the
student should be able to:
explain the procedures involved
in the reporting of violations, the investigation of complaints, and the
conduct of hearings; |
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describe the elements of a valid
complaint; |
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describe the composition of the
probable-cause panel; |
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describe events that would cause
a license to be denied; |
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recognize actions that would
cause a license to be subject to suspension or revocation; |
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identify individuals who would
be eligible to seek reimbursement from the Real Estate Recovery Fund; and |
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describe the monetary limits
imposed by law on the Real Estate Recovery Fund. |
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Reading Comprehension Quiz 6 |
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Interactive Exercises |
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Unit Exam 6 |
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| 155 |
Federal and State Housing Laws |
Reading Assignment |
After completing this unit, the
student should be able to:
describe the features of the
Civil Rights Acts of 1866 and 1968; |
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recognize examples of steering,
redlining, and blockbusting; |
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describe the features of the
Truth-in-Lending Act, the Equal Credit Opportunity Act, and the Real Estate
Settlement Procedures Act; and |
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describe the provisions of the
Florida Residential Landlord and Tenant Act. |
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Reading Comprehension Quiz 7 |
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Unit Exam 7 |
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| 160 |
Property Rights - Estates,
Tenancies, and Multiple Ownership Interests |
Reading Assignment |
After completing this unit, the
student should be able to:
define real property based on
the definition in Chapter 475, F.S.; |
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list and explain the physical
components of real property; |
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explain
the four tests courts use to determine if an item is a fixture; |
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distinguish between real and
personal property; |
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describe
the bundle of rights associated with real property ownership; |
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list
the principal types of estates (tenancies) and describe their
characteristics; |
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describe the features associated
with the Florida homestead law; |
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distinguish
between cooperatives, condominiums, and time-shares; and |
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describe the four main documents
associated with condominiums. |
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Reading Comprehension Quiz 8 |
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Interactive Exercises |
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Unit Exam 8 |
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| 166 |
Title, Deeds, and Ownership
Restrictions |
Reading Assignment |
After completing this unit, the
student should be able to:
differentiate between voluntary
and involuntary alienation; |
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explain the various methods of
acquiring title to real property; |
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describe the conditions
necessary to acquire real property by adverse possession; |
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list and describe the various
types of governmental and private restrictions on ownership of real property; |
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distinguish between actual
notice and constructive notice; |
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distinguish between an abstract
of title and a chain of title; |
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explain the different types of
title insurance; |
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describe the essential elements
of a deed; and |
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list and describe the four types
of statutory deeds. |
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Reading Comprehension Quiz 9 |
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Interactive Exercises |
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Unit Exam 9 |
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| 100 |
Legal Descriptions |
Reading Assignment |
After completing this unit, the
student should be able to:
explain the necessity for legal
land descriptions; |
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list and explain the various
methods of describing real property; |
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calculate the number of acres in
a parcel described by the government survey system; |
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identify
the location of a township by township and range number; and |
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number the sections of a
township. |
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Reading Comprehension Quiz 10 |
|
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Interactive Exercises |
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Unit Exam 10 |
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| 198 |
Real Estate Contracts |
Reading Assignment |
After completing this unit, the
student should be able to:
:list and describe the essentials
of a real estate contract; |
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|
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describe
the differences between formal contracts and parol contracts; |
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distinguish among bilateral,
unilateral, implied, express, executory, and executed contracts; |
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describe the various ways in
which an offer is terminated; |
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describe the various methods of
terminating a contract; |
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explain the remedies for breach
of a contract; |
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describe
the effect of the statute of frauds and the statute of limitations; |
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|
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describe the elements of an
option; and |
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|
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differentiate among the various
types of listings. |
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Reading Comprehension Quiz 11 |
|
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Interactive Exercises |
|
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Unit Exam 11 |
|
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| 245 |
Real Estate Finance |
Reading Assignment |
After completing this unit, the
student should be able to:
distinguish between title theory
and lien theory doctrines; |
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distinguish between the mortgage
instrument and the note; |
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explain the provisions of the
various mortgage clauses; |
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|
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differentiate among FHA, VA, and
conventional mortgages; |
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describe the features of
amortized, adjustable, package, and purchase-money mortgages; |
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explain the purpose of an
estoppel certificate; |
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calculate the loan-to-value
(LTV) ratio, given the purchase price and down payment amounts; and |
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calculate
the down payment, given the purchase price and LTV ratio. |
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Reading Comprehension Quiz 12
| |
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Interactive Exercises |
|
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Unit Exam 12 |
|
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| 135 |
The Mortgage Market |
Reading Assignment |
After completing this unit, the
student should be able to:
describe the factors that
influence the supply and demand for mortgage funds; |
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distinguish between the primary
and secondary markets; |
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|
understand the mortgage
practices of commercial banks, savings associations, mutual savings banks,
and life insurance companies; |
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distinguish between a mortgage
banker and mortgage broker; |
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describe the three methods the
Fed uses to control the supply of money in circulation; |
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describe
the function of Fannie Mae, Ginnie Mae, and Freddie Mac; and |
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calculate the cost of discount
points and the approximate yield resulting from discounts. |
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Reading Comprehension Quiz 13 |
|
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Unit Exam 13 |
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| 130 |
Computations and Title Closing |
Reading Assignment |
After completing this unit, the
student should be able to:
compute a sale commission; |
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calculate the percent of profit
or loss, given the original cost of the investment, the sale price, and the
dollar amount of profit or loss; |
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amortize a level-payment plan
mortgage when given the principal amount, the interest rate, and the monthly
payment amount; |
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prorate the buyer's and seller's
expenses using either the 30-day-month method or the 365-day method; |
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calculate the dollar amount of
transfer taxes on deeds, mortgages, and notes; and |
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allocate taxes and fees to the
proper parties and compute individual costs. |
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Reading Comprehension Quiz 14 |
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Unit Exam 14 |
|
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| 195 |
Estimating Real Property Value |
Reading Assignment |
After completing this unit, the student should be able
to:
differentiate among the terms
price, cost, and value; |
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describe the four
characteristics of value; |
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differentiate among the three
approaches to estimating the value of real property; |
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describe the three types of
depreciation and recognize examples of each type; and |
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apply the steps in the various
approaches to estimating value when given an appropriate scenario. |
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Reading Comprehension Quiz 15 |
|
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Unit Exam 15 |
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120
|
Product Knowledge |
Reading Assignment |
After completing this unit, the
student should be able to:
contrast pier and slab-on-grade
foundations; |
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distingush among the various lot
types; |
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distinguish among the three
types of frame construction; |
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identify various roof styles; |
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explain how a basic electrical
system works; |
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describe basic residential
plumbing and mechanical systems; and |
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identify the various window
types. |
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Reading Comprehension Quiz 16 |
|
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Interactive Exercises |
|
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Unit Exam 16 |
|
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| 160 |
Real Estate Investment Analysis
and Business Opportunity Brokerage |
Reading Assignment |
After completing this unit, the
student should be able to:
identify
the advantages and disadvantages of investing in real estate; |
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distinguish among the various
types of risk; |
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explain the concepts of
liquidity and leverage; |
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describe the similarities and
differences between real estate brokerage and business brokerage; |
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describe the types of expertise
required in business brokerage; |
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distinguish among the methods of
appraising businesses; and |
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describe the steps in the sale
of a business. |
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Reading Comprehension Quiz 17 |
|
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Interactive Exercises |
|
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Unit Exam 17 |
|
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| 180 |
Taxes Affecting Real Estate |
Reading Assignment |
After completing this unit, the
student should be able to:
distinguish between immune and
exempt or partially exempt properties;
|
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calculate
the total tax exemptions on a property, given a scenario; |
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describe the various personal
exemptions available to qualified owners of homestead property; |
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compute the property tax on a
specific parcel, given the current tax rates, assessed value, and eligible
exemptions; |
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list the steps involved in the
tax appeal procedure; |
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describe the purpose of
Florida's Green Belt Law; |
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calculate the cost of a special
assessment, given the conditions and amounts involved; and |
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list tax advantages resulting
from home ownership. |
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Reading Comprehension Quiz 18 |
|
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Interactive Exercises |
|
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Unit Exam 18 |
|
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| 98 |
The Real Estate Market |
Reading Assignment |
After completing this unit, the
student should be able to:
list factors that influence
supply and demand for real estate; |
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describe the five
characteristics unique to the real estate market; and |
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distinguish between buyer's and
seller's markets. |
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Reading Comprehension Quiz 19 |
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Unit Exam 19 |
|
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| 140 |
Planning and Zoning |
Reading Assignment |
After completing this unit, the
student should be able to:
distinguish
among the six types of land-use planning background studies;
|
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distinguish
among zoning ordinances, building codes, and health ordinances; |
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explain the purpose of a
variance, a special exception, and a nonconforming use; |
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|
calculate the number of lots
available for development, given the total number of acres contained in a
parcel, the percentage of land reserved for streets and other facilities, and
the minimum number of square feet per lot; and |
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describe the characteristics of
a planned unit development. |
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Reading Comprehension Quiz 20 |
|
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Interactive Exercises |
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Unit Exam 20 |
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| 55 |
Case Studies in Real Estate |
Reading Assignment |
Which subsections of Chapter
475, F.S., were violated? |
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What was the violation that the
Respondent committed? |
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How should the Respondent have
handled the initial questioning by Ms. Dow regarding the racial or ethnic
background of Jones and Smith? |
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Which subsections of Chapter
475, F.S., did the Respondent violate, and what were the violations? |
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Did the Respondent's actions
constitute fraud? |
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What are the essential elements
of actionable fraud in a civil proceeding? |
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Were the essential elements of
fraud present in this case? |
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Which subsections of Chapter
475, F.S. were violated, and what were
the violations? |
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Are the elements of fraud
present in this case? |
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Can an administrative penalty be
imposed on a licensee for dishonest acts when dealing for his own account? |
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What is a partially amortized
mortgage and balloon payment? |
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Which subsection of Chapter 475,
F.S., was violated, and what were the violations? |
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Does the Respondent sales
associate have potential liability in a civil suit? |
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Which subsections of Chapter
475, F.S., were violated, and what were the violations? |
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Did the Respondent violate her
fiduciary relationship with her broker or her obligations to the principal? |
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What are the presumptions in
Chapter 475.43, F.S.? |
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What course of action should the
Respondent have followed? |
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5
|
Instructions for the Final Exam |
Reading Assignment |
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You have ONE opportunity to
complete this final exam. If you pass, you may upload your results or choose
to save your results to disk. If you do not pass, you must wait at least 30
days to take the alternate exam. To help you study for the alternate exam,
you will have access to this course. Please contact your school for further
information. |
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The final exam consists of 100
questions. |
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The pass rate for the final exam
is 70%. |
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Bookmarking is not allowed. |
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Read the question carefully,
select the answer you believe to be correct, and click Next. |
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You
have three hours to complete this exam. If you have not completed the exam
within the time limit, all unanswered questions will be marked
incorrect. |
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When you have answered the last
question, click Finish to turn in your exam. |
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Student Certification Statement |
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Final Exam A (100 question,
3-Hour Timed Exam) |
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| 3150 |
TOTAL MINUTES |
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| 63 |
TOTAL HOURS (50 minute hours) |
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