Florida Real Estate Sales Associate — All Questions
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61 questions
A property has a net operating income of $60,000. Using a 7.5 percent capitalization rate, what is its estimated value?
- a.$750,000
- b.$450,000
- c.$800,000✓
- d.$4,500,000
Value equals NOI divided by the cap rate: $60,000 / 0.075 = $800,000.
A property sells for $450,000 and produces annual gross rent of $37,500. What is the gross rent multiplier (annual)?
- a.10
- b.0.083
- c.12✓
- d.15
The annual GRM equals price divided by annual gross rent: $450,000 / $37,500 = 12.
An appraiser uses a monthly gross rent multiplier of 110. If a property rents for $2,500 per month, what is its indicated value?
- a.$275,000✓
- b.$2,750,000
- c.$225,000
- d.$250,000
Value equals the monthly GRM times monthly rent: 110 x $2,500 = $275,000.
An investor buys a property for $220,000 and later sells it for $253,000. What is the percentage of profit based on cost?
- a.85 percent
- b.12 percent
- c.15 percent✓
- d.13 percent
Profit is $253,000 - $220,000 = $33,000. Dividing by the $220,000 cost gives 0.15, or 15 percent.
A home sold for $189,000, which was a 10 percent loss from what the owner originally paid. What was the original purchase price?
- a.$189,000
- b.$170,100
- c.$207,900
- d.$210,000✓
A 10 percent loss means the sale equals 90 percent of cost: $189,000 / 0.90 = $210,000.
An investor buys a home for $160,000, spends $40,000 on renovations, and sells for $240,000. What is the percentage of profit on total cost?
- a.20 percent✓
- b.50 percent
- c.33 percent
- d.25 percent
Total cost (basis) is $160,000 + $40,000 = $200,000, and profit is $240,000 - $200,000 = $40,000. Dividing $40,000 by $200,000 gives 20 percent.
A property worth $300,000 appreciates 5 percent per year, compounded, for 2 years. What is its value after 2 years?
- a.$315,000
- b.$330,750✓
- c.$330,000
- d.$347,288
Compounding: $300,000 x 1.05 x 1.05 = $300,000 x 1.1025 = $330,750.
A Florida home is assessed at $280,000 with combined exemptions of $50,000. The millage rate is 22 mills. What is the annual property tax?
- a.$5,060✓
- b.$5,600
- c.$6,160
- d.$4,600
Taxable value is $280,000 - $50,000 = $230,000. At 22 mills ($22 per $1,000), tax = 230 x $22 = $5,060.
A property with a taxable value of $210,000 owes $4,200 in annual property tax. What is the millage rate?
- a.0.02 mills
- b.200 mills
- c.20 mills✓
- d.2 mills
The rate equals tax divided by value: $4,200 / $210,000 = 0.02, which is $20 per $1,000, or 20 mills.
Annual property taxes are $5,475, paid in arrears. Using Florida's 365-day proration, the seller owned the property for the first 90 days of a non-leap year. What is the seller's share owed to the buyer at closing?
- a.$1,335
- b.$1,350✓
- c.$1,365
- d.$4,125
The daily rate is $5,475 / 365 = $15. For 90 days the seller owes 90 x $15 = $1,350, credited to the buyer.
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Monthly rent of $1,800 was collected by the seller for June. The sale closes June 16 and the buyer owns the day of closing. Using a 30-day month, how much rent is credited to the buyer?
- a.$900✓
- b.$1,080
- c.$960
- d.$840
The buyer owns June 16 through 30, which is 15 days. The daily rent is $1,800 / 30 = $60, so 15 x $60 = $900 is credited to the buyer.
How hard is the exam?
The Florida sales-associate exam is 100 questions in 3.5 hours, and you need 75% to pass — a higher bar than most states. The exam fee is $57.75 per attempt through Pearson VUE. Real estate sales agents earn a median of about $56,320/year (BLS, May 2024).
- Recommended study hours
- Florida's 75% threshold rewards thorough study — plan weeks of review and multiple full timed practice exams.
- First-attempt pass rate
- 50% on the first attempt (n = 2,411) — Florida DBPR, February 2025. DBPR publishes this monthly and splits first-time takers from repeaters: in the same month repeaters passed at 33% (n = 2,218), which drags the all-takers rate to 42%. January 2025 was 50% first-time (n = 2,086) and 31% repeat.Source: Florida DBPR — Exam Performance Summary (FREAB meeting packet, April 2025; monthly first-time vs. repeater breakdown)
- Where to focus first
- Real Estate Principles/Practice and Florida License Law are the largest areas (each about 20%).
Fees and salaries are approximate and change over time. The pass rate above is quoted from the source linked beside it, for the period that source covers — where we have not checked a source, we say so and give no number.