The Florida Broker exam will change significantly after June 30, 2011. For many years, the broker exam consisted of a composite closing statement problem that candidates had to complete and answer five questions counting 2 points each. After June 30, the composite closing statement will no longer be tested.
The new closing statement questions consist of a case study using the HUD-1 Settlement Statement. The candidate must answer what page of the HUD-1 Settlement Statement certain items are found. The candidate must also make prorations correctly. This change was made to better reflect the function of a real estate professional. A practitioner does not prepare the closing statement, but is responsible for the review of the HUD-1 form before closing.
Those students who are proficient in the current statement should attempt the exam before June 30. Those who know the HUD-1 form well are advised to wait.
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