CHAPTER 1 REVIEW QUESTIONS

A contractor who builds on his or her own lot in the hope of finding a purchaser upon completion is building on _____.

One type of a residential sales transaction involves the sale of any improved residential property of ____units or less.

The term ______ is a registered trademark of the National Association of REALTORS and may be used only by member of the organization.

Most real estate licensees are involved in _____brokerage.

Property management has grown as a service of real estate primarily because of an increase in _____ _____.

That portion of the Federal Financial Institutions Reform, Recovery and Enforcement Act that requires the use of state-licensed or state-certified appraisers is_____.

An estimate of the value of property developed by a real estate licensee for use in listing or selling property is known as a _____ ____ ____.

Mortgage loan originators are licensed in Florida by the ___ ___ ___ ___.

The category of construction that applies when a property owner employs a contractor to build according to their individual specifications is called ___ ___.

After completion of construction of a subdivision, the streets, sidewalks, and common areas are frequently conveyed to the city or county in a process called ___.

Appraising is the process of developing an ___ of value.

Valuing a business requires an analysis of ___ ___ and ___ ___.

The three areas of expertise real estate licensees bring to the transaction relate to ___ ___, ___ and ___.

The composite value of the real and personal property, plus the intangibl assets of a business, is called ___ ___ ___.

Part ___ of F.S. 475 covers regulation and licensing of real estate practitioners, while Part ___ covers the registration, licensing, and certification of appraisers in Florida.