Florida Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Florida Real Estate Exam with comprehensive quizzes and study material. Access flashcards and multiple-choice questions designed to help you master essential concepts. Get ready to pass your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following is considered a typical prepaid item?

Rent collected by the seller for a future period
Heating oil in the tank
Interests on the seller's mortgage
Unpaid real estate taxes

The correct answer is: Heating oil in the tank

A Rent collected by the seller for a future period is not a prepaid item because it is typically a liability for the seller, not a prepaid asset. B: Heating oil in the tank is considered a typical prepaid item because it is an expense that has been paid in advance and has not yet been used. This is similar to other prepaid expenses such as insurance or supplies. C: Interests on the seller's mortgage is not a prepaid item because it is an ongoing expense that accrues over time, rather than being paid in advance. D: Unpaid real estate taxes is not a prepaid item because it is an expense that has not yet been paid, rather than being paid in advance.