Real Estate Broker Examination — Information & Free Practice

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Real Estate Broker Examination

Provider: DBPR; Pearson VUE delivers the examination
Format: Computer-based multiple-choice examination
Exam questions: 100 multiple-choice questions
Time limit: 3.5 hours
Passing score: 75 points out of 100

Examination outline

Real Estate Brokerage Business (43%)
- A. Licensure Requirements
- A.1. Application Process
- A.2. Mutual Recognition
- A.3. Experience Requirements
- A.4. Education Requirements
- A.5. Examination
- A.6. Continuing Education Requirements
- A.7. Sales Person License Requirements
- A.8. Renewal
- A.9. Brokerage Entities Registration vs. Licensure
- A.10. Multiple Licenses vs. Group License
- A.11. Change of Address
- A.12. Exemptions
- B. Brokerage Entities
- B.1. Registered
- B.1.a. Sole Proprietorship
- B.1.b. General Partnership
- B.1.c. Limited Partnership
- B.1.d. Limited Liability Partnership
- B.1.e. Corporations
- B.2. Non-Registered
- B.3. Trade Names
- B.4. Office Requirements
- B.4.a. Principal Office
- B.4.b. Branch Office
- B.4.c. Entrance Signs
- B.4.d. ADA
- B.5. Advertising
- B.5.a. Requirements
- B.5.a.i. Broker/Agent
- B.5.a.ii. False/Misleading
- B.5.b. Blind Ads
- B.5.c. Fair Housing
- B.5.d. Telephone Solicitation
- B.5.e. Rental Lists
- C. Brokerage Ownership, Management, and Supervision
- C.1. Capital and Start-up Costs
- C.2. Projecting Income and Expenses
- C.2.a. Projections
- C.2.b. Income Sources
- C.2.c. Projecting Operating Expenses
- C.3. Tax Considerations
- C.3.a. Cash vs. Accrual Method
- C.3.b. IRS Concerns Regarding Employees vs. Independent Contractors
- C.4. Personnel Issues
- C.4.a. Unlicensed Activities
- C.4.b. Licensed Activities
- C.5. Recruitment
- C.6. Application Process
- C.6.a. Forms
- C.6.b. Licensure Verification
- C.7. Employment Arrangements and Agreements
- C.8. Compensation of Sales Associates
- C.9. Policy and Procedures Manual
- C.10. Broker/Sales Manager Responsibilities
- C.10.a. Training and Supervision of Sales Associate
- C.10.b. Sales Meetings
- D. Escrow Management
- D.1. Establishing
- D.2. Overall Rules
- D.3. Conversion of Funds
- D.4. Commingling
- D.5. Earnest Money
- D.6. Broker Held
- D.7. Record Keeping Requirements
- D.8. Disputes (EDO, Arbitration, Mediation, Litigation)
- D.9. Title Company and Attorney Held
- D.10. Brokers Commission
- D.10.a. Antitrust Laws
- D.10.b. Liens
- D.11. Property Management Deposits and Advance Rent
- D.12. Condominiums
- E. Florida Law and FREC Rules
- E.1. Inspections
- E.2. Office Audits
- E.2.a. Records, Documentation, and Compliance
- E.2.b. Escrow
- E.3. Investigator Authorities
- E.4. Compliance Process
- E.4.a. Filing Complaint
- E.4.b. Investigation
- E.4.c. Probable Cause Panel
- E.4.d. Formal Compliant
- E.4.e. Final Order
- E.5. Violations and Penalties
- E.5.a. Grounds for Denial
- E.5.b. Grounds for Suspension
- E.5.c. Grounds for Revocation
- E.5.d. Types of Penalties
- E.5.d.i. Administrative
- E.5.d.ii. Civil
- E.5.d.iii. Criminal
- E.5.d.iv. Unlicensed Activity
- E.6. Disciplinary Guidelines
- E.7. Recovery Fund
Valuing Real Property (9%)
- A. Appraisal
- A.1. Appraisal vs. CMA Defined
- A.1.a. USPAP
- A.1.b. Basic Appraisal Concepts
- A.2. Approaches
- A.2.a. Sales Comparison
- A.2.b. Cost-Depreciation
- A.2.c. Income Capitalization
- A.3. Comparative Market Analysis
- A.3.a. Broker Price Opinion
- A.4. Business Valuation
Listing and Selling Real Property (6%)
- A. Concept of Agency
- A.1. Broker Duties
- B. Disclosure Requirements at First Contact
- B.1. Residential Sales
- B.2. Exemptions
- C. Transaction Broker Relationship
- D. Single Agent to Transaction Broker Transition
- E. No Brokerage Relationship
- F. Single Agent Relationship
- G. Designated Salesperson
- H. Terminating Broker Relationship
- I. Legal – Titles, Deeds, etc.
Contracts (11%)
- A. Listing Agreements
- B. Entitlement to Commission
- B.1. Referral Fees
- B.2. Commercial Lien Law
- C. Purchase and Sale Contract
- C.1. Unauthorized Practice
- C.2. Statute of Frauds
- D. Documents for Listing Contract
- E. Real Estate Contracts
- F. Disclosures
- G. Other Contracts
Financing (4%)
- A. Mortgage Concepts and Practices
- B. Mortgage Loans
- B.1. Conventional
- B.2. Governmental, Insured, or Guaranteed
- B.3. Other Mortgage Types
- C. Other Techniques
- D. Federal Consumer Protection Legislation
- E. Broker’s Role
- E.1. Mortgage Fraud
- F. Finance Math
Closing Transactions (12%)
- A. Broker’s Role
- B. Closing Steps
- B.1. Deeds
- B.2. Titles
- C. Understanding Closing Disclosures
- D. Prorating Procedures
Federal Income Tax Laws (5%)
- A. Principal Residence
- B. Sale of Principal Residence
- C. Investment Operations
- D. Sale of Investment
- E. Deferring Taxes upon Disposition
- F. Overview
Investment (4%)
- A. Investment Properties and Investor Needs
- B. Leases
- C. Mortgages
- D. Property Expenses
- E. Investment Analysis
- F. Investment Math
Zoning and Planning (1%)
- A. Zoning
- B. Subdividing and Development of Land
- C. Wetlands and Ecological Issues
Environmental Issues (1%)
- A. CERCLA
- B. Hazards
Property Management (1%)
- A. Introduction
- B. Markets
- C. Skills
- D. Rental Process
- E. Owner-Manager Relationship
- F. Residential Landlord/Tenant Act
- G. Federal and State Laws
The Real Estate Market (3%)
- A. Characteristics
- B. Basic Math

Examination sources

Candidate Information Booklet, effective March 2024
The Examination, Content Overview and Outline, page 4
Candidate Information Booklet, effective March 2024
Cover, effective edition
Candidate Information Booklet, effective March 2024
Scoring Procedures, page 14
Candidate Information Booklet, effective March 2024
Making your Test Reservations, page 3