Florida Real Estate Broker Exam — All Questions

Under Florida's brokerage relationship law, when a residential licensee does not disclose otherwise, the presumed relationship with the public is:

• a.Single agent for the seller
• b.Transaction broker✓
• c.No brokerage relationship
• d.Dual agent

Since Florida eliminated the presumption of subagency and single agency, a licensee working a residential transaction is presumed to be operating as a transaction broker unless a single-agent or no-brokerage-relationship notice is given. A transaction broker provides limited representation to a buyer or seller without being that party's fiduciary. Notably, true dual agency is prohibited in Florida.

A Florida transaction broker owes the customer several statutory duties. Which of the following is one of them?

• a.Undivided loyalty and advocacy
• b.Obedience to all lawful instructions like a fiduciary
• c.Full confidentiality of all information indefinitely
• d.Dealing honestly and fairly, accounting for funds, and using skill, care, and diligence✓

A transaction broker owes limited duties including dealing honestly and fairly, accounting for all funds, using skill/care/diligence, disclosing known facts materially affecting value that are not readily observable, and limited confidentiality. It does NOT owe undivided loyalty, obedience, or full fiduciary confidentiality, which are single-agent duties. Understanding this distinction is central to the Florida broker exam.

In Florida, a licensee acting as a single agent who wants to change to a transaction broker in the same transaction must:

• a.Obtain the principal's consent to transition using the required notice✓
• b.Do nothing, because the change is automatic
• c.Get a court order
• d.Cancel the listing and start over

Florida allows a single agent to transition to a transaction broker within a transaction only after obtaining the principal's consent through the statutory 'Consent to Transition to Transaction Broker' notice. This lets a firm continue assisting both sides as transaction brokers without acting as a prohibited dual agent. The consent must be given before the transition, not assumed.