Podcast
Real Estate Exam Prep
Hosted by Ran Chen, EA, CFP® · EN
Real Estate Exam Prep is a daily podcast designed to help future real estate agents pass their licensing exams with clarity and confidence.
Built and operated by OpenExamPrep, this podcast breaks down the real estate exam into focused, easy-to-digest episodes covering both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.
Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Real Estate Exam Prep was developed from firsthand experience with how difficult—and often poorly taught—exam material can be. The goal is simple: make exam preparation clearer, more accessible, and more effective using structured explanations and modern learning tools. Whether you’re just starting your real estate exam journey or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.
Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
89episodes
Episodes
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Florida Real Estate Exam Prep 17, Escrow Disputes and Settlement Procedures
Yesterday00:03:06Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A Florida broker must notify FREC in writing within 15 business days of receiving conflicting demands for escrow funds. - Within 30 business days of the last demand, the broker must institute one of four specific settlement procedures. - The four settlement procedures can be remembered by the mnemonic MALE: Mediation, Arbitration, Litigation, and Escrow Disbursement Order. - Mediation is a non-binding negotiation, whereas arbitration is a binding process where a third party's decision is final. - An Escrow Disbursement Order (EDO) is a formal determination by FREC, but it is not available for disputes exceeding $50,000. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 16, Escrow Accounts Commingling and Conversion
2d ago00:02:45Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The specific dollar amounts a broker can keep in sales and property management escrow accounts. - The legal difference between commingling (improperly mixing funds) and conversion (improperly using funds). - How security deposits and advance rents must be handled under Florida law. - Key requirements for monthly account reconciliation and recordkeeping. - How to analyze exam-style scenarios involving the mishandling of escrow funds. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 15, Escrow Deposits and Delivery Deadlines
3d ago00:02:29Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A sales associate must deliver an escrow deposit to their broker by the end of the next business day. - A broker has until the end of the third business day, from when the sales associate first received it, to deposit the funds. - The three-day deposit clock for the broker starts upon the sales associate's receipt, not the broker's. - Business days for escrow deadlines exclude weekends and legal holidays, a frequent exam trap. - Accepting a postdated check as a deposit requires the seller's prior written consent. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 14, Florida Real Estate Advertising Rules
4d ago00:03:19Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That every real estate advertisement in Florida must contain the licensed name of the brokerage firm. - Why a "blind ad," which fails to identify the brokerage, is illegal and a common exam topic. - Which specific words, like "Realty" and "Associates," are prohibited in team names to avoid public confusion. - How the brokerage name must appear adjacent to, above, or below contact information in all internet advertising. - That licensees selling their own property must disclose their licensed status in any advertisements. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 13, Brokerage Offices and Sign Requirements
5d ago00:03:23Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A principal brokerage office in Florida must be a stationary, enclosed room and be registered with the DBPR. - A location is considered a branch office requiring registration if brokerage activities are conducted there; temporary shelters are exempt if no transactions are closed. - An official brokerage sign must, at a minimum, display the trade name (if any), the broker's name, and the words "Licensed Real Estate Broker" or "Lic. Real Estate Broker". - Branch office registrations are not transferable; moving a branch office requires a new, separate registration and fee. - Brokers must notify the DBPR of any change in their business address within 10 days to avoid a violation. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 12, No Brokerage Relationship Duties
6d ago00:03:14Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The three specific duties owed in a Florida no-brokerage relationship: honesty and fairness, disclosure of non-obvious material facts in residential sales, and accounting for funds. - The legal requirement to provide the No Brokerage Relationship Notice in writing before showing a property. - Key differences between the duties of a no-brokerage licensee and a transaction broker, particularly regarding the presentation of offers and the use of skill, care, and diligence. - Why fiduciary duties like loyalty, obedience, and full confidentiality are strictly limited to single-agent relationships and are common distractors on exam questions. - That the disclosure of material facts is specific to residential properties and only for defects that are not readily observable to a buyer. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 11, Transition to Transaction Broker
1w ago00:03:00Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The transition from a single agent to a transaction broker in Florida requires the principal's prior written consent using the official "Consent to Transition to Transaction Broker" notice. - Consent cannot be implied from a client's actions; it must be explicitly given in writing before the change in the brokerage relationship occurs. - When transitioning, the fiduciary duties of undivided Loyalty and Obedience are dropped, as the broker no longer acts solely for one party's benefit. - The duty of full disclosure is replaced with limited confidentiality, preventing the disclosure of price, motivation, or other sensitive information as defined by statute. - This limited confidentiality survives the transition and remains in effect even after the transaction closes, protecting the former client's sensitive information. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 10, Single Agent Duties and Disclosure
1w ago00:03:26Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A single agent in Florida represents either the buyer or the seller in a full fiduciary capacity, but never both in the same transaction. - The fiduciary duties owed to a principal include Confidentiality, Obedience, Loyalty, Full Disclosure, Accounting, Skill, Care, and Diligence. - A helpful mnemonic for the core duties is COLD: Confidentiality, Obedience, Loyalty, and Disclosure. - The three duties owed to a customer are honest and fair dealing, accounting for funds, and disclosing known material facts about a residential property. - The Single Agent Notice must be provided in writing before entering a representation agreement or before showing property, whichever occurs first. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 09, Transaction Broker Duties
1w ago00:03:07Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That transaction brokerage is the default relationship in Florida real estate unless stated otherwise in writing. - The seven specific duties of a transaction broker, including dealing honestly and fairly and accounting for all funds. - How limited confidentiality prevents disclosing a party's price limits or motivations. - The crucial distinction between a transaction broker's limited representation and a single agent's fiduciary duties. - That a transaction broker, unlike a single agent, does not owe duties of loyalty or obedience. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Florida Real Estate Exam Prep 08, Brokerage Relationships Overview
1w ago00:03:44Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Florida law presumes a transaction brokerage relationship unless a different relationship is established in writing. - A single agent is the only relationship that provides full fiduciary duties, remembered by the mnemonic COLD (Confidentiality, Obedience, Loyalty, Disclosure). - Transaction brokers provide limited confidentiality and cannot reveal the parties' willingness to negotiate on price or their motivations. - Written disclosures have strict timing rules: a no-brokerage notice is due before showing property, while a single agent notice is due before the showing or listing agreement, whichever is first. - These specific brokerage relationship disclosure rules apply only to residential sales, a common point of confusion tested on the exam. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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