Florida Real Estate MCQs Paper 37

1

An investor buys a property which has a net income of $1,750 per month. It has a capitalization rate of 14%. What did the investor pay for the property?






2

Calculate the deed documentary stamp tax on a purchase price of $325,750.00 with a purchase money mortgage of $250,000.00.






3

A developer purchases two adjacent lots for $125,000 each. She subdivides the land into 6 parcels which sell for $50,000 each. What is the developer percentage of profit?






4

How much of the 2nd monthly payment will be applied to the principal balance of a $80,000 mortgage at 7.5% interest for 30 years if each monthly payment is 559.37?






5

A property closes on June 18, 2001. The ad valorem taxes are $2,200 for the year. Prorate the taxes for this transaction (day of closing goes to the buyer).






6

A property price is $300,000 of which $60,000 is allocated to the cost of land. The property has an economic life of 25 years and an effective age of 5 years. Given this information and using the straight-line depreciation method, what is the value of the property?






7

The property management field has experienced recent growth primarily due to an increase in






8

The geographic area that a real estate broker or sales associate specializes in is called the






9

A unique aspect of business brokerage as opposed to real estate brokerage is the broker’s ability to






10

Which of the following is not considered residential property?






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