Florida Broker Practice Exam

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Prepare for the Florida Broker Exam. Study with interactive quizzes, flashcards, and multiple choice questions that include hints and explanations. Ace your exam and start your real estate career today!

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The claims against one licensee must not exceed what total amount from the Recovery Fund?

$50,000
$100,000
$150,000
$200,000

The correct answer is: $150,000

The Recovery Fund is designed to protect consumers who have suffered monetary losses due to the actions of a licensed real estate professional. When a claim is made against a single licensee, the maximum amount that can be awarded from the Recovery Fund for that licensee's actions is capped at $150,000. This limit ensures that there are enough resources within the fund to compensate multiple claimants while also placing a financial limit on any single claim. The purpose of this structure is to provide a safety net for consumers while promoting accountability among real estate professionals. Understanding this amount is crucial for both licensees and consumers to recognize the protections and limits involved in transactions governed by the real estate profession in Florida.