The pass rate for the Florida state exam is dropping. For August 2021, it dropped to 38%. I obtained a list from the Florida Bureau of Education and Testing that had some tips for real estate students. In other words, these are the areas that most people are getting incorrect right now…
Helpful Study Hints for Instructors and Examinees
- Know that Chapter 720, F.S. is the Florida Law that deals with Homeowners’ Associations.
- Review expenses that are deductible on federal income taxes for a principal residence.
- Review Chapter 475.612, F.S., and that Florida Law prohibits real estate licensee from referring to a comparative market analysis as an appraisal.
- Know that the income capitalization approach is the primary approach in appraising income-producing properties.
- Review street paving assessment; remember to calculate only the owner’s half of the paving assessment, so this would require the candidate to divide the total share of the cost in half.
- Review the definition of an easement in gross and that this particular easement benefits the company that owns it.
- Have candidates review the formula for Interest on Assumed Mortgages.
- Review the definition for an option contract; candidates seem to have difficulty on whether the option contract is a bilateral versus a unilateral contract; we require that they know it is a unilateral contract.
- Review the definitions for Special Purpose Deeds (i.e. personal representative’s deed, guardian’s deed, committee’s deed, and tax deed).
- Review purchase money mortgage and that the mortgage is taken back by a seller from a buyer.
- Review the definitions of separate property versus personal property.
- Review the definition of a notice of noncompliance and that the DBPR may issue it for a first- time minor violation by a licensee.
If you don’t know what some of this means, check out my cram class. I think it’s the best state exam review in the state. If you don’t believe me, just check out what my former students say about it.
Please note that neither I, nor anyone in the Climer family, has any affiliation with Climer School of Real Estate. My father, Ron Climer, sold the school in 2014. You can find us at Demetree School of Real Estate in Orlando, Florida.