Free Real Estate Broker Examination Practice Questions

Sample Practice Questions

Try these 10 sample questions from the Real Estate Broker Examination practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.

1. 1What score passes the current Florida real estate broker licensure examination?

   1. A. 70
   2. B. 72
   3. C. 75
   4. D. 80

   Answer: C

   Explanation: A score of "75 points or higher" successfully completes the exam.

   Reference: Flrule 61J2 2 029 — Rule 61J2-2.029

2. 2A broker prepares an ordinary-course comparative market analysis for a prospective seller. May the broker title that report an appraisal?

   1. A. Yes, when recent comparable sales are included
   2. B. Yes, when the owner signs the report
   3. C. Yes, when no separate fee is charged
   4. D. No, the CMA may not be called an appraisal

   Answer: D

   Explanation: Florida says "in no event may this comparative market analysis, broker price opinion, or opinion of value of real estate be referred to as an appraisal". Comparable data, a signature, or a fee arrangement does not change that labeling restriction.

   Reference: Florida Statutes, Chapter 475, Part I — §475.25(1)(t)

3. 3Does paying compensation alone determine that a brokerage relationship exists?

   1. A. Yes
   2. B. Only for sellers
   3. C. No
   4. D. Only in writing

   Answer: C

   Explanation: "The mere payment or promise to pay compensation" does not determine the relationship.

   Reference: Statutes & Constitution :View Statutes : Online Sunshine — §475.255

4. 4A mortgage conforms to Fannie Mae underwriting standards and carries no federal insurance or guarantee. How should the loan program be classified?

   1. A. An FHA-insured mortgage
   2. B. A VA-guaranteed mortgage
   3. C. A conventional mortgage
   4. D. A USDA-guaranteed mortgage

   Answer: C

   Explanation: The CFPB states, "A conventional loan is any mortgage loan that is not insured or guaranteed by the government". The stated mortgage meets that definition; FHA, VA and USDA labels denote government insurance or guarantee programs.

   Reference: CFPB, What is a conventional loan? — Definition of conventional loan

5. 5A Florida owner signs an instrument conveying a fee-simple parcel. Which execution arrangement meets the subscribing-witness element of section 689.01?

   1. A. The grantor signs in the presence of two subscribing witnesses
   2. B. The grantee signs in the presence of two subscribing witnesses
   3. C. The grantor signs in the presence of one subscribing witness
   4. D. The grantee signs in the presence of one subscribing witness

   Answer: A

   Explanation: Section 689.01 requires an "instrument in writing, signed in the presence of two subscribing witnesses" by the conveying party or authorized agent. The grantee is not the conveying party, and one witness is insufficient for this deed.

   Reference: 2025 Florida Statutes §689.01 — §689.01(1)

6. 6An otherwise eligible single taxpayer asks about the ownership-and-use period for excluding gain on the sale of a main home. What are the statutory minimum periods within the five years before sale?

   1. A. One year owned and two years used as a residence
   2. B. Two years owned and one year used as a residence
   3. C. Two years owned and two years used as a residence
   4. D. Three years owned and three years used as a residence

   Answer: C

   Explanation: IRS Publication 523 says, "If you owned the home and used it as your residence for at least 24 months of the previous 5 years" you meet the residence requirement; its ownership step also requires two of five years. The question asks for the minima, so a three-year pair may qualify but overstates them.

   Reference: IRS Publication 523, Selling Your Home — Publication 523, Eligibility Test, Ownership and Residence

7. 7An investor evaluates a property with $180,000 annual rental income and $60,000 annual operating expenses. At a 6% capitalization rate, what value follows from direct capitalization?

   1. A. $1,000,000
   2. B. $2,000,000
   3. C. $3,000,000
   4. D. $4,000,000

   Answer: B

   Explanation: FDIC explains that value is "net operating income divided by the capitalization rate to yield the sales price". NOI is $180,000 − $60,000 = $120,000, and $120,000 ÷ .06 = $2,000,000. The other figures respectively capitalize only expenses, gross rent, or income plus expenses.

   Reference: FDIC, Commercial Real Estate Research — PDF p. 7, capitalization-rate discussion

8. 8A purchaser of a potentially contaminated commercial parcel seeks a CERCLA landowner liability protection. Which pre-acquisition investigation addresses the statutory environmental-diligence condition?

   1. A. All appropriate inquiries into present and past property uses
   2. B. A comparative market analysis of nearby property sales
   3. C. A title-company review of recorded ownership transfers
   4. D. A zoning review of permitted commercial activities

   Answer: A

   Explanation: EPA links certain CERCLA landowner protections to "conducting AAI into present and past uses of the project". Market, title and zoning reviews serve other real-estate purposes but do not perform this environmental inquiry.

   Reference: US EPA, Brownfields All Appropriate Inquiries — All Appropriate Inquiries, CERCLA liability protections

9. 9A Florida residential landlord elects to hold a tenant's security deposit in a non-interest-bearing bank account rather than post a bond. Which account arrangement follows section 83.49?

   1. A. A separate Florida account for tenants' benefit without commingling
   2. B. A separate Florida account mixed with the landlord's commissions
   3. C. The landlord's operating account with individual ledger tracking
   4. D. A brokerage sales escrow account mixed with broker float

   Answer: A

   Explanation: Section 83.49(1)(a) permits the account route by requiring the landlord to "Hold the total amount of such money in a separate non-interest-bearing account in a Florida financial institution for the benefit of the tenant or tenants. The landlord shall not commingle such moneys". Mixing landlord or brokerage funds defeats that selected method.

   Reference: 2025 Florida Statutes §83.49 — §83.49(1)(a)

10. 10A broker observes a persistently low residential vacancy rate in a local housing market. What does that signal about available housing relative to demand?

    1. A. Available housing supply is below housing demand
    2. B. Available housing supply exceeds housing demand
    3. C. Housing supply and demand must be equal
    4. D. Demand for housing has disappeared locally

    Answer: A

    Explanation: The Census Bureau explains that "Low vacancy rates indicate that housing supply is less than the housing demanded". The other descriptions point to different or unsupported supply-demand conditions.

    Reference: US Census Bureau, Homeowner and Rental Vacancies — ACS-64, discussion of vacancy rates