7- How can a builder help you generate leads? What approach can Greg use to discourage the person from calling other agents? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? Tell the buyer to submit the offer first and then take a copy to the attorney to review. What must Tim do? C. Payments will not be enough to retire the loan. The listing price of a house is $139,900. 6 of 10 Who typically presents an offer to the sellers? Her broker has asked her to be available for tasks in the field rather than in the office. D. Exclusive-authorization-and-right-to-sell agreement. Person must be properly licensed. This is not true of which duty? An open listing is an exclusive contract. 67- Hannah is a real estate assistant. B. For purposes of federal income tax, which statement is true? What does the net operating income of a property represent? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Rule E-1 A. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? D. A basis of $140,000 and no taxable gain. Retired persons are a good source of neighborhood information. Give $250 to the buyer and $250 to the seller. 65- Which of the following items is usually not prorated at closing? C. Payments will not be enough to retire the loan. 37- When dealing with the sale of a business, which is not a true statement? 8- What actions does a lender take to sell a mortgage in the secondary market? 75- All but which of the following is NOT an AIDA feature? D. If the buyer rejects the first counteroffer, the seller can accept the first offer. Properties are very liquid and can move quickly. Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. It is determined by who pays the compensation. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . 28- Abby applies for a federally-related loan to purchase a home. Has Bob acted properly? D. Hold both offers because he heard that a full-price offer is on its way. A. Generates leads for new listings. You had a 9% loss. C. If Larry verbally accepted the offer, Kirk is bound by it. 51- Which statement is true about a homeowners exemption? 4- Whats a bonus closing and whats important to keep in mind about this technique? D. The borrower gets a note in exchange for a mortgage. "What would you like to offer?" C. Sharing all visitor comments two weeks before the listing ends. buyer randy makes an offer to purchase. B. 3 of 10 A listing presentation can be compared to: 4 of 10 All of the following are benefits of listing with an agent except which? She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. D. Amanda smiles at Jim when she sees the whirlpool tub. 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? The home comes equipped with all furnishings. buyer randy makes an offer to purchase 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 6 of 10 How often can a tenant call his or her own professional to make repairs and then deduct the amount from the next months rent? Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. What is most likely their main motivation for investing? How much did Sam gain or lose on the sale? In this scenario, which of the following is not true? A. California: Real Estate Practice Chapter 17 Quiz with no answers. 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. \text { Annual cost of quality training } & 456,000 \\ buyer randy makes an offer to purchase. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. How does ALTA-R differ from ALTA? C. Mike has been late with his rent payments seven times in the past year, D. He had a serious physical altercation with his downstairs neighbor. D. Allows a broker to have as a commission anything above the minimum the seller sets. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. Which term is the process of joining several parcels of land into one larger parcel? 4 of 10 Which of the following is NOT a condition of the safe harbor test? Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. Senior housing for residents 62 or older, B. D. Convince a seller to list with you. C. Tell the sellers you expect an offer to be coming soon. Broker Alice holds an uncashed check until the offer is accepted. Make sure all required disclosures have been done. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. California: Real Estate Practice Chapter 16 Quiz with no answers, 1 of 10 According to FIRPTA, what percent would a buyer who is buying the property as a personal residence need to withhold when purchasing a $200,000 home from a foreigner?. B. Facebook Instagram. C. Participation in the MLS increases a licensees inventory. 7 of 10 Which of the following is a possible benefit of investing in real property? What kinds of things should you include in a weekly activity report? The borrower gives the lender a note and a mortgage in exchange for the funds. Allows quick repayment of the loan through accelerated payments. They were counting on a full-price offer and are very disappointed. Answer: D- They are effectively terminating the original offer. A. 7 of 11 In which of the following types of loans is the payment allocated only to interest? 57- Under federal income tax law, the basis for a personal residence is which of the following: A. Pellentesque dapibus efficitur laoreet. CSP-Conlutas Central Sindical e Popular . 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 5- What does the safety clause in the listing agreement do? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. Courtesy of RealtyPact. 91- This paragraph of the purchase agreements informs the seller of the buyers right to inspect the property and can cancel or request maintenance based on findings. B. Brenda has violated the fiduciary duty of obedience to Jim. Housing and Community Development Act. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. B. The definition of race was expanded to include ancestry. B. Pam is not liable since it was summer and the heating problem was not obvious. 10 of 50 There has been very little interest in the Bowers home this past week. Goodwill is an intangible asset that results from the reputation of the business. Prior to bringing an offer to purchase. Before completing the form, discuss the following important points with the home seller: Price. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 4. B. What kind of a mortgage do they have? B. Pleases the sellers by inv=creasing activity. A. 8 of 10 When is the first installment of property taxes due? C. Johns office has a selection of books, CDs and tapes for agent use. Is equal for each year over the life of the property, C. Is high during the first five years of the ownership period, then reduces gradually over the life of the property, D. Varies according to the expired life of the improvements made to the property. 77- Which of the following Internet pages might not be of particular interest to buyers? A. 7 of 10 Which document shows the assets and liabilities of a business? 12,800 square feet California: Real Estate Practice Chapter 15 Quiz with no answers. He asks his real estate agent if she could tell him how to go about building a house on the land. B. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 10 of 10 Which of the following is not a possible benefit of investing in real property? He pays rent for occupancy, plus maintenance and operating expenses. 1- What is a competitive market analysis? D. In most situations, an assistant should not have the responsibility of in-person contact with clients. There is a crack in the basement wall. She thinks they are really interested in one particular property, but when she approaches them about it, the buyer says, The price is too high. What would be a good response to that comment? D. After the agent has had time to make copies at the office. C. Greg has violated the duty of confidentiality to Kim. B. 5- Your listing presentation manual should be made up of two sections that address what issues? A. What property type will he be dealing with? D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. C. Eric may not represent the sellers interests to the detriment of the buyer. B. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. Which of the these activities does she have control over? Hes no longer interested in seeing the inside and Marge agrees. Sam asks Bob what the price is. California: Real Estate Practice Ch7 Quiz with no answers. It was terminated when Mary delivered the recission to Sam. Could be a violation of state licensing laws. It can be considered an employment contract. To learn more about the real estate business, D. To make more money than a real estate agent. A. Covers more than one piece of property. She put 20% down and got a mortgage for the remainder. Start in the room with the best features. Suggest that the buyer look at a different house. Share that information with the sellers. Alex Jones owns a duplex and lives in one unit. Tom thereupon submits a full-price offer to the owner and purchases the property. He sounds really excited about this property. This broker is guilty of what prohibited activity? 1 of 10 What kind of lease contains a recapture clause? 1- What is an important thing to remember about listing agreements? 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 1- What are the five aspects that are involved in any selling approach? The price of a plane ride rises by 10 percent. A rental condominium for a recreational vehicle. 5 of 10 Which of these statements is not true about qualifying buyers? A. C. Be sure all requested inspections have been ordered. 2- Describe an open listing. Sunday afternoon, Mary is driving around and finds a property she likes better. A. D. Is permissible in amounts under $50. A. Course Hero is not sponsored or endorsed by any college or university. A. Salesperson Harry can solicit his own listings. B. 7- In the initial meetings with the prospects, the agent should do all of the following except which? 19- Which of the following is not an advantage of hosting an open house? How should Jan's licensee handle the offer? 44- Jim owns a gift shop in a commercial building. A buyer wants to take the offer to an attorney to review it. 5 of 10 Which of these is not a true statement? 2- What exception exists to the duty of obedience when working with a client? The interest rate will increase gradually over time. Give the deposit money to the seller. Mary makes an offer to purchase a duplex from Sam. 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. C. Giving buyers your opinion of what works best for them. Present the $200,000 first and recommend rejection. A. 7 of 10 Which of these forms is not filled out by the seller? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. A. Jake is getting a VA loan with no down payment. The borrower makes payments of interest only over the term of the loan. 93- Jim has created a nice property flier for the James home. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? C. The loan term will extend gradually over time. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. 6 of 10 A buyer calls your office to inquire about a property he saw advertised. 6- What is the main reason sellers choose to sell their property without an agents help? The Residential Environmental Hazards Guide, B. 10- Which disclosures are NOT required to be made when selling residential property? What law creates an automatic lien on a commercial property, subject to the listing agreement? Gross income must be based on production. B. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 4- Amanda calls broker Tim to schedule a showing of one of his listings. What should Bill do? D. Their loan payments will gradually increase. Not waste anymore time on this house, the buyer will never make an offer. 2 of 10 Which lender typically deals in interim financing? Rate of return is computed by dividing the annual net income by the rate of return. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. In the meantime, Bill gets another offer on the property from another buyer at a higher price. 7. A. A. A. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. The buyer was responsible for making the discovery, so Pam is therefore liable. Randy gives Tom an earnest money check f Randy gives Tom an earnest money check f Q: according to the law governing mortgage loan brokers what is the maximum commission Broker Dan can charge for securing a Answer: A- Proceed as if the buyer has decided to make an offer. If checked, the seller can complete repairs after closing. A. 3 of 10 How long must trust account records be kept? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? To access the website, click "Allow". D. The property is in a state fire responsibility area. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 4 of 10 All of these are true of prospecting except: A. D. Gross income must be based on hours worked. C. Brenda could be liable for a breach of the listing terms. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. When should the agent have disclosed this fact? The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. B. Can be used in place of a verbal presentation. 5- When must a licensee provide an agency disclosure to a prospective client? The advertiser can be sentenced to up to a year in prison. Write a contingent counteroffer. D. Offer to call the prospect when new listings that meet his or her criteria come on the market. cross elasticity of demand for train rides with respect to the price of a plane ride buyer randy makes an offer to purchasei miss you text art copy and paste. What is this called? You can make a Best Offer on listings that have a Make Offer button. D. Hold it with the buyers permission until the contract is accepted. Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? Checking your browser. 11 of 12 ECOA requires that a lender send a denial notice within: 12 of 12 The amount of debt, time and method of payment, interest rate and other loan terms are part of the: 1- What is the role of the Fed? Elaine parks across the street from the home and Mike is disappointed by what he sees. It became a contingent contract when Sam accepted Mary's offer. D. Tell the sellers its time to reevaluate the price. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. B. Fill out a separate, numbered counteroffer form. A. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? Try to get Sam to accept the offer. 2- List the three Institute of Real Estate Management property management designations. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? 3- When making your presentation, what topics should you cover? D. All adjustable rate mortgages have negative amortization. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} A. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. Ask the buyers to sign a real estate transfer disclosure statement. California: Real Estate Practice Sample of Final Course Exam. B. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? Harry has some buyers that he believes are ready to make an offer. The buyer must pay the broker a commission. B. 43 of 50 Which one of these statements would not be considered a measurable goal? C. Salespersons must perform all of their activities on behalf of their employing broker. 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket? 8 of 10 Which of the following will give you comparative market data the fastest? An apartment building for a vacant lot, B. D. The advertiser must prove he was grandfathered in as a licensee. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values.
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Mcc Prayer Times Silver Spring, Md, Martina Nerdforge, Articles B