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Florida Real Estate Exam Practice Questions: Condominiums, HOAs, and Ownership Forms
4 practice questions on condominiums, hoas, and ownership forms for the Florida real estate sales associate exam. Each one has the correct answer, a full explanation of why the other options are wrong, and the statute it comes from.
What this topic covers
Chapters 718 and 720 and co-ownership. Questions here test condominium and homeowners association law, and the ways property can be owned by more than one person.
Sources these questions cite include: § 718.116, Fla. Stat.; § 721.10, Fla. Stat.; § 718.103, Fla. Stat.; § 718.104, Fla. Stat.; § 718.112, Fla. Stat.; 42 U.S.C. § 3604.
Question 1
A single individual holds title to a house in his own name, with no co-owner. Which form of ownership is this?
- A. Tenancy in common, which is ownership by two or more people in separate shares
- B. Joint tenancy with right of survivorship
- C. Tenancy in severalty, which is ownership by one person
- D. Tenancy by the entirety, which is ownership by married persons
Show the answer and explanation
Correct answer: C.
Ownership by one person is called ownership in severalty. Co-ownership forms include tenancy in common, joint tenancy, and tenancy by the entirety for married couples. A is wrong because there is only one owner. B is wrong because a joint tenancy needs at least two owners. D is wrong because there is no spouse in the title.
Source: Common law
Question 2
Under current Florida law, which condominium buildings must have a structural integrity reserve study?
- A. Only buildings that were built before 1960, because older buildings have the greatest need of a reserve study
- B. Only buildings with more than 100 units, because the study is meant to protect the owners of large condominium communities
- C. Single-story villas and low-rise buildings of fewer than three stories, since the study applies to every condominium
- D. Residential condominium buildings that are three stories or higher
Show the answer and explanation
Correct answer: D.
Associations of residential condominium buildings three stories or higher must have a structural integrity reserve study that identifies the cost of major components such as the roof, foundation, and structure and plans for funding the reserves. A is wrong because the requirement is based on building height. B is wrong because the requirement is not based on the number of units. C is wrong because the requirement is for buildings three stories or higher.
Source: § 718.112(2)(g), Fla. Stat.
Question 3
A buyer of a condominium unit asks the association for an estoppel certificate. What does the certificate show?
- A. The sales prices of every other unit in the building, so that the buyer can compare the price of the unit with the others
- B. The buyer's credit score, as reported by the association, so that the buyer may be approved for membership in the community
- C. The amount of assessments and other charges owed on the unit as of a stated date
- D. A guarantee by the association that the building will not be assessed for any special repairs in the future
Show the answer and explanation
Correct answer: C.
An estoppel certificate states the assessments, late fees, and other charges due, and whether the owner is current. A buyer, lender, or title agent relies on it to learn what must be paid at closing. A is wrong because the certificate concerns the unit being sold. B is wrong because the association does not provide the buyer's credit report. D is wrong because the certificate shows the amounts owed, not a future guarantee.
Source: § 718.116(8), Fla. Stat.
Question 4
In a real estate limited partnership, what is the liability of a limited partner who does not participate in management?
- A. Unlimited personal liability for all partnership debts, because every partner is responsible for the debts of the partnership
- B. Limited to the amount the limited partner invested, while the general partner has unlimited liability
- C. No liability, and no investment, because limited partners are guests who take no part in the business of the partnership
- D. Equal to the general partner's liability, because the law treats limited and general partners alike for the debts of the firm
Show the answer and explanation
Correct answer: B.
A limited partnership has at least one general partner who manages the business and has unlimited liability, and limited partners whose liability is generally restricted to their investment. A limited partner who takes part in control may risk losing that protection. A is wrong because unlimited liability belongs to the general partner. C is wrong because a limited partner invests capital and bears the risk of that investment. D is wrong because the general partner has unlimited liability.
Source: Ch. 620, Fla. Stat.
Want more on this topic?
The full Prep475 kit has 15 questions on condominiums, hoas, and ownership forms, all with the same statute-cited explanations, plus a timed 100-question exam simulation.
Independent study aid, not legal advice. Not affiliated with or endorsed by the Florida Real Estate Commission, the DBPR, or Pearson VUE. Questions are original practice questions, not actual exam questions. Statutes, rules, and exam details change; always confirm against current Florida law and your pre-licensing course materials.
Last reviewed October 20, 2026.