Florida Real Estate Exam Cheat Sheet: Format, Florida Law, and Closing Math
The Florida-specific rules and calculations that trip up sales associate candidates — in one place.
Exam snapshot: The Florida sales associate exam is given in person by Pearson VUE. It has 100 multiple-choice questions, a 3.5-hour time limit, and you need 75 correct to pass. It mixes national principles with Florida law, and Florida law and brokerage relationships carry heavy weight. Always confirm details in the current Florida candidate handbook.
Florida’s exam is known for testing state law in detail. This Florida real estate exam cheat sheet focuses on the Florida-specific rules and math. For national topics, use our real estate exam cheat sheet.
Florida Real Estate Exam Cheat Sheet: Brokerage Relationships
| Relationship | Key points |
|---|---|
| Transaction broker | Limited representation to buyer, seller, or both. Florida law presumes this relationship unless another is established in writing. |
| Single agent | Full fiduciary duties to one party (buyer or seller), including loyalty and confidentiality. |
| No brokerage relationship | No representation; the broker still owes honesty and disclosure of known material defects. |
| Transition | Moving from single agent to transaction broker requires the principal’s written consent before the change. |
FREC and License Law
- FREC: The Florida Real Estate Commission regulates licensees under Chapter 475 of the Florida Statutes.
- Education: 63-hour prelicensing course for sales associates; post-licensing education before the first renewal.
- Active vs. inactive: A sales associate must be registered under a broker to actively practice.
- Disciplinary actions: Know the difference between citations, fines, suspension, and revocation.
- Advertising: Ads must include the brokerage’s registered name; no blind ads.
Escrow and Deposits
- Sales associate: Must deliver deposits to their broker by the end of the next business day.
- Broker: Must deposit funds no later than the end of the third business day after receipt (unless held by a title company or attorney under the contract terms).
- Conflicting demands: Brokers must follow FREC’s settlement procedures (such as mediation, arbitration, litigation, or an escrow disbursement order) within set timeframes.
Florida Closing Math
| Tax | Rate | Typically paid by |
|---|---|---|
| Documentary stamp tax on deeds | $0.70 per $100 of sale price (round up to the next $100) | Seller |
| Documentary stamp tax on notes | $0.35 per $100 of the loan amount | Buyer |
| Intangible tax on new mortgages | 0.002 × loan amount (2 mills) | Buyer |
Example: Sale price $350,000, new loan $280,000. Deed stamps: $350,000 ÷ 100 × $0.70 = $2,450. Note stamps: $280,000 ÷ 100 × $0.35 = $980. Intangible tax: $280,000 × 0.002 = $560.
Test-Day Rules
- Calculator: Must be silent, hand-held, battery-operated, nonprinting, and without an alphabetic keypad.
- Answer every question: Blank answers count as wrong.
- Know your conversions: 1 acre = 43,560 sq ft; 1 mile = 5,280 ft; 1 section = 640 acres.
Key Takeaways
- The Florida exam has 100 questions, 3.5 hours, and requires 75 correct.
- Transaction broker is the presumed relationship; dual agency isn’t allowed.
- Know escrow deadlines: next business day for associates, third business day for brokers.
- Practice doc stamp and intangible tax calculations.
- Bring an approved calculator and answer every question.
Frequently Asked Questions
How many questions are on the Florida real estate exam?
The Florida sales associate exam has 100 multiple-choice questions with a 3.5-hour time limit, and you need 75 correct to pass. Confirm current details in the candidate handbook.
What is the default brokerage relationship in Florida?
Florida law presumes a transaction broker relationship unless a single agent or no brokerage relationship is established in writing.
How do you calculate doc stamps on a deed in Florida?
Divide the sale price by 100, round up to the next whole number if needed, and multiply by $0.70. Some counties use a different rate, so check your course materials.
Can I use a calculator on the Florida real estate exam?
Yes, if it’s silent, hand-held, battery-operated, nonprinting, and has no alphabetic keypad. Programmable and financial calculators with letter keys aren’t allowed.
The Bottom Line
This Florida real estate exam cheat sheet covers the state rules and math that cost candidates the most points. Drill them until they’re automatic, then use practice exams to build speed.
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