"You know where the last floor is?" Arletha asked, clearly surprised.
Ephraim nodded. When he was transported to the last floor protected by the guardian, he was shown the only way in and out; the fiery doom he had encountered with the cryptex. When the guardian showed him the floors, he was able to pinpoint where they are and how they would get into the last floor. The images the guardian had showed him were in order - with the lake he fell in actually the second to the last floor, whilst the fiery traps just above it.
"To get into the dungeon's last floor," Ephraim said, "a key is needed."
"A key . . . ?"
"Yes," Ephraim then drew a key in a necklace wrapped around his neck hiding inside his clothes. It was the one that came out when he solved the riddle in the cryptex. The ones that helped him talk to the guardian. "This key."
The key was returned to him by the guardian when he was transported to the clock tower to save Samuel. The guardian told him that he would need the key.