Florida · state portion

Free Florida Authorized Relationships, Duties and Disclosures practice questions

10 original questions with full explanations. 7 of the 100 scored exam questions (about 7%) come from this area.

1. 1

   Can a sales associate be designated to work with a client in a commercial transaction?

   • A. Yes, with the client's consent
   • B. Yes, without the client's consent
   • C. No, only in residential transactions
   • D. No, never
   Show answer & explanation

   Answer: A

   Yes, a sales associate can be designated to work with a client in a commercial transaction, but only with the client's consent.

2. 2

   A sales associate is representing a seller in a residential transaction. The sales associate has a fiduciary duty to the seller. What type of brokerage relationship is this?

   • A. Transaction Broker
   • B. Designated Sales Associate
   • C. No Brokerage Relationship
   • D. Single Agent
   Show answer & explanation

   Answer: D

   Since the sales associate has a fiduciary duty to the seller, this is a Single Agent relationship. Single Agents have full fiduciary duties to their clients.

3. 3

   In a commercial transaction, can a broker designate a sales associate to act as a Single Agent for a party?

   • A. Yes, for all transactions
   • B. Yes, but only for residential transactions
   • C. No, designation is not allowed in Florida
   • D. Yes, but only for commercial transactions
   Show answer & explanation

   Answer: D

   In a commercial transaction, a broker can designate a sales associate to act as a Single Agent for a party, providing full fiduciary duties to that party.

4. 4

   What are the duties of a Transaction Broker in Florida?

   • A. 9 fiduciary duties
   • B. 5 single agent duties
   • C. 3 no-brokerage duties
   • D. 8 limited representation duties
   Show answer & explanation

   Answer: D

   A Transaction Broker in Florida has 8 limited representation duties, which include dealing honestly and fairly, accounting for all funds, and disclosing all known facts that materially affect the value of the property.

5. 5

   What type of brokerage relationship requires a Single Agent Notice to be provided to the parties?

   • A. Transaction Broker
   • B. Designated Sales Associate
   • C. No Brokerage Relationship
   • D. Single Agent
   Show answer & explanation

   Answer: D

   The Single Agent relationship requires a Single Agent Notice to be provided to the parties, as it involves full fiduciary duties and representation.

6. 6

   When is a disclosure of the brokerage relationship required in Florida?

   • A. In all real estate transactions
   • B. Never
   • C. In commercial transactions only
   • D. In residential transactions of 4 units or fewer
   Show answer & explanation

   Answer: D

   A disclosure of the brokerage relationship is required in residential transactions of 4 units or fewer in Florida.

7. 7

   A sales associate is acting as a Transaction Broker in a residential sale. How many duties are owed to both parties?

   • A. 6
   • B. 8
   • C. 9
   • D. 12
   Show answer & explanation

   Answer: B

   A Transaction Broker owes 8 duties to both parties in a transaction, including dealing honestly and fairly, and accounting for all funds.

8. 8

   How many duties does a sales associate owe to the parties when there is No Brokerage Relationship?

   • A. 3
   • B. 6
   • C. 8
   • D. 9
   Show answer & explanation

   Answer: A

   When there is No Brokerage Relationship, the sales associate owes only 3 duties to the parties: dealing honestly and fairly, disclosing all known facts, and accounting for all funds.

9. 9

   When are disclosures of representation required in Florida?

   • A. All sales transactions
   • B. Never required
   • C. Commercial sales of 5 units or more
   • D. Residential sales of 4 units or fewer
   Show answer & explanation

   Answer: D

   Disclosures of representation are required in residential sales of 4 units or fewer in Florida, as they inform the parties of the agent's relationship with them.

10. 10

    A sales associate is working as a Single Agent for a buyer. What is required to transition to a Transaction Broker relationship?

    • A. Verbal consent
    • B. Notice of Termination
    • C. No consent required
    • D. Written consent
    Show answer & explanation

    Answer: D

    To transition from a Single Agent to a Transaction Broker, the sales associate must obtain the buyer's written Consent to Transition, as required by s.475.278.