A property owner in Florida is selling their homestead property. The contract specifies a closing date of October 15th. The seller has resided on the property for 7 years and has an outstanding mortgage of $200,000. The property is assessed at $500,000 for tax purposes. What is the maximum amount of the homestead exemption that the seller can claim against the taxable value of their homestead property, assuming the county's Save Our Homes (SOH) cap is 3% and the just value is $600,000?

$50,000. The homestead exemption in Florida is $50,000. $25,000 is applied to the first $50,000 of assessed value, and an additional $25,000 is applied to the value between $50,001 and $75,000. The Save Our Homes (SOH) cap and outstanding mortgage are irrelevant to the calculation of the homestead exemption itself.

A licensed real estate broker in Florida receives earnest money for a property transaction. The contract states the earnest money is to be held in a trust account. Which of the following is NOT a permissible disbursement option for the broker from the trust account without the written consent of all parties?

Disbursement to the broker's operating account as a commission.. Commingling personal or business funds with trust funds is prohibited. The broker's commission should be disbursed from the trust account only after the closing has occurred and the funds are available, or with explicit written consent from all parties involved.

A commercial property in Miami-Dade County is leased for an annual rent of $120,000. The lease term is 5 years. The property is sold to a new owner. The lease is a gross lease, and the tenant is responsible for paying all operating expenses directly to the vendors. The new owner wants to know the total rental income they can expect to receive from this tenant over the remaining term of the lease. What is the total expected rental income?

$600,000. The question asks for the total rental income the new owner can expect. Since the lease is a gross lease and the tenant pays operating expenses directly, the owner receives the stated annual rent. The total expected rental income is the annual rent multiplied by the remaining lease term: $120,000/year * 5 years = $600,000.

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Free Florida Real Estate Exam practice test with 50 realistic multiple-choice questions, instant grading, and explanations. Study with drill mode, category score reports, and a personalized review plan.

Exam format

50 multiple-choice practice questions
Drill mode with instant feedback and explanations after each answer

Study tips

Review the official exam content outline before your first practice run.
Take the full practice exam once to establish a baseline score by category.
Focus review on categories where you score below the passing threshold.
Re-take missed questions in drill mode until you can explain each correct answer.
Schedule the real exam only after consistent passing scores on practice tests.

Sample FL Real Estate practice questions

Try a few representative questions below. Each includes the correct answer and a short explanation — the same style you'll see in the full practice test.

Question 1Homestead Exemptions
A property owner in Florida is selling their homestead property. The contract specifies a closing date of October 15th. The seller has resided on the property for 7 years and has an outstanding mortgage of $200,000. The property is assessed at $500,000 for tax purposes. What is the maximum amount of the homestead exemption that the seller can claim against the taxable value of their homestead property, assuming the county's Save Our Homes (SOH) cap is 3% and the just value is $600,000?
- A.$35,000
- B.$25,000
- C.$50,000(Correct)
- D.$30,000
Explanation
The homestead exemption in Florida is $50,000. $25,000 is applied to the first $50,000 of assessed value, and an additional $25,000 is applied to the value between $50,001 and $75,000. The Save Our Homes (SOH) cap and outstanding mortgage are irrelevant to the calculation of the homestead exemption itself.
Question 2Trust Accounts and Escrow
A licensed real estate broker in Florida receives earnest money for a property transaction. The contract states the earnest money is to be held in a trust account. Which of the following is NOT a permissible disbursement option for the broker from the trust account without the written consent of all parties?
- A.Disbursement to the seller upon closing.
- B.Disbursement to the buyer upon termination of the contract.
- C.Disbursement to a title company for title insurance premiums.
- D.Disbursement to the broker's operating account as a commission.(Correct)
Explanation
Commingling personal or business funds with trust funds is prohibited. The broker's commission should be disbursed from the trust account only after the closing has occurred and the funds are available, or with explicit written consent from all parties involved.
Question 3Lease Agreements and Income
A commercial property in Miami-Dade County is leased for an annual rent of $120,000. The lease term is 5 years. The property is sold to a new owner. The lease is a gross lease, and the tenant is responsible for paying all operating expenses directly to the vendors. The new owner wants to know the total rental income they can expect to receive from this tenant over the remaining term of the lease. What is the total expected rental income?
- A.$600,000(Correct)
- B.$720,000
- C.$500,000
- D.$120,000
Explanation
The question asks for the total rental income the new owner can expect. Since the lease is a gross lease and the tenant pays operating expenses directly, the owner receives the stated annual rent. The total expected rental income is the annual rent multiplied by the remaining lease term: $120,000/year * 5 years = $600,000.

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Frequently asked questions

How many questions are on this FL Real Estate practice test?

This practice test includes 50 multiple-choice questions designed to mirror the format and difficulty of the real Florida Real Estate Exam.

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Do I get explanations after each question?

Yes. In drill mode you see why the correct answer is right, why distractors are wrong, and practical examples where relevant.

How should I use this practice test to prepare?

Take the full exam under timed conditions, review missed questions by category, then focus study on your weakest sections before scheduling the real exam.

Does this replace official exam materials?

No. Use this as a supplement alongside official candidate information bulletins, textbooks, and hands-on experience required for your license or certification.

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