Session 1: Becoming a Licensed Real Estate Broker
Real Estate Brokerage Business — 43% of the state exam, shared across Sessions 1–5
- compensation
- Florida resident
- group license
- involuntarily inactive status
- licensure
- nonresident
- multiple license
- mutual recognition
- registration
- Summary of applicants
- voluntarily inactive status
Session 2: Opening a Real Estate Office
Real Estate Brokerage Business — 43% of the state exam, shared across Sessions 1–5
- blind advertising
- corporation
- Florida Fictitious Name Act
- general partnership
- joint venture (joint adventure)
- limited liability company
- limited partnership
- ostensible partnership (quasi-partnership)
- S corporation
- sole proprietorship
- telephone solicitation
- trade name
Session 3: Owning, Managing and Supervising a Real Estate Office
Real Estate Brokerage Business — 43% of the state exam, shared across Sessions 1–5
- accrual basis accounting
- business plan
- buyer brokerage
- cash basis accounting
- company dollar
- employee
- Employer Identification Number (EIN)
- franchise
- graduated commission
- independent contractor
- personal assistant
- policy manual
Session 4: Escrow Management
Real Estate Brokerage Business — 43% of the state exam, shared across Sessions 1–5
- arbitration
- commingle
- conflicting demands
- conversion
- declaratory judgment
- escrow account
- escrow disbursement order
- good-faith doubt
- immediately
- interpleader
- mediation
- post-dated checks
- treble damages
- trust account
- trust liability
Session 5: Office Inspections, Disciplinary Process and Real Estate Recovery Fund
Real Estate Brokerage Business — 43% of the state exam, shared across Sessions 1–5
- appeal
- citation
- complaint
- final order
- formal complaint
- formal hearing
- informal hearing
- judicial review
- legally sufficient
- notice of noncompliance
- probable cause
- probable cause panel
- recommended order
- self-reporting
- stipulation
- subpoena
- emergency suspension (ESO)
- revocation without prejudice
- voluntary surrender for permanent revocation
Session 6: Overview of Real Estate Valuation
Valuing Real Property — 9% of the state exam, shared across Sessions 6–9
- anticipation
- appraisal
- assessed value
- appraisal report
- client
- conformity
- demand
- external economies
- external diseconomies
- federally related transaction
- FIRREA
- going-concern value
- highest and best use
- increasing and decreasing returns
- intended use of an appraisal
- intended user
- investment value
- insurable value
- liquidation value
- market value
- over-improvement
- reconciliation
- restricted appraisal report
- salvage value
- substitution
- supply
- The Appraisal Foundation
- USPAP
- value in use
Session 7: Sales Comparison, Cost-Depreciation and Income Approaches
Valuing Real Property — 9% of the state exam, shared across Sessions 6–9
- accrued depreciation
- arm's-length transaction
- economic life
- contract rent
- curable
- effective age
- effective gross income
- external obsolescence
- fixed expense
- fixture
- functional obsolescence
- gross income multiplier (GIM)
- gross rent multiplier (GRM)
- incurable
- market rent
- net operating income
- personal property
- physical deterioration
- potential gross income
- replacement cost
- reproduction cost
- reserve for replacements
- subject property
- trade fixture
- vacancy and collection loss
- variable expense
Session 8: Comparative Market Analysis
Valuing Real Property — 9% of the state exam, shared across Sessions 6–9
Session 9: Business Valuation
Valuing Real Property — 9% of the state exam, shared across Sessions 6–9
- accrual basis accounting
- balance sheet
- book value
- cash basis accounting
- current ratio
- debt-to-worth ratio
- going concern value
- goodwill
- income statement
- intangible asset
- inventory turnover ratio
- liquidation value
- market value
- quick ratio
- S corporation
Session 10: Agency Relationships and Disclosure Requirements
6% of the state exam
- agent
- customer
- designated sales associate
- dual agent
- fiduciary
- limited representation
- no brokerage relationship
- principal
- residential sale
- single agent
- transaction broker
Session 11: Contracts
11% of the state exam
- compensatory damages
- contingency
- earnest money deposit
- effect a sale
- find a purchaser
- joint tenancy
- lease-option agreement
- lease-purchase agreement
- liquidated damages
- procuring cause
- right of first refusal
- specific performance
- statute of frauds
- tenancy by the entireties
- tenancy in common
- time is of the essence
Session 12: Financing Real Estate
4% of the state exam
- buy down
- conforming loan
- contract for deed
- discount points
- fully amortized mortgage
- home equity loan
- lien theory
- loan estimate
- nonconforming loan
- partially amortized mortgage
- reverse annuity mortgage
- sale and leaseback financing
- secured note
- term mortgage
- title theory
- unsecured note
- yield
Session 13: Closing Real Estate Transactions
12% of the state exam
Session 14: Federal Income Tax Laws
5% of the state exam
- active participant
- after-tax cash flow
- capital gain
- home acquisition loan
- home equity loan
- home office
- installment sale
- investment interest
- like-kind exchange
- long-term gain
- non-passive income
- passive income
- qualified intermediary
- reversion from sale
- short-term gain
- tax credit
- vacation homes
Session 15: Investment Real Estate
4% of the state exam
- add-on interest
- discounted cash flow analysis
- expense stops and caps
- gross leasable area
- gross lease
- internal rate of return
- rentable vs. usable
- net lease
- net present value
- nominal interest rate
- percentage rents
- rent concession
- simple interest
- triple-net lease
Session 16: Zoning and Planning, Subdividing of Land, and Special Issues
1% of the state exam
- community development district
- Community Planning Act
- concurrency
- dedication
- development of regional impact
- hardship
- impact fees
- nonconforming use
- planned unit development
- special exception
- special flood hazard area
- sub-divider
- subdivision
- subdivision plat map
- subdivision regulations
- variance
- wetlands
- zoning
- zoning board of adjustment
Session 17: Environmental Issues Affecting Real Estate Transactions
1% of the state exam
- asbestos
- brown fields
- CERCLA
- environmental due diligence
- environmental impact statement
- environmental site assessment
- innocent landowner defense
- lead-based paint
- national priorities list
- phase I – IV assessment
- potentially responsible person (PRP)
- radon gas
Session 18: Property Management
1% of the state exam
- Americans with Disabilities Act
- assignment
- Civil Rights Act of 1866 as amended
- community association
- Fair Housing Act
- fixed lease
- Florida Landlord and Tenant Act
- graduated lease
- gross lease
- sublease
- ground lease
- net lease
- percentage lease
- tenancy for years
- tenant at sufferance
- tenant at will
- three-day notice
- writ of possession
Additional exam content area: The Real Estate Market — 3%. No separate key-term session in the Course II syllabus.
Sources: FREC Course II syllabus · DBPR state exam content outline and percentages
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