B. What disclosure does the salesperson owe to the buyer and seller? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. D. Preparing flyers and promotional materials for the brokers approval. Which area of specialization would she fall into? C. A broker is not responsible for the acts of independent contractors. Nam risus ante, dapibus a molestie consequat, ultrices ac magn, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Studying population trends in the area. If the loan is for $68,000, what will Mark be assessed in points? A. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} A. Bob Broker knows that another offer will be coming in at about the same time. Donec aliquet. The seller must file a bill of sale with the county clerk. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? buyer randy makes an offer to purchase 5 of 10 Alice has decided that she will specialize in selling farm land. What should agent Phil do? C. The buyers are interested in another property. 1. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. A secondary bid for a property from the same buyer. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? 3. What is the body of law that governs negotiable instruments? What is most likely their main motivation for investing? Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. C. Have keys made for company listings. 6- When is a lender required to terminate a borrowers private mortgage insurance? A. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? What approach can Greg use to discourage the person from calling other agents? B. 81- Jake has decided to specialize in working with clients who purchase schools. 30- Being prepared to handle incoming phone calls means all of the following except which? 59- Which of the following is a sellers request that an agent cannot honor? 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. 3- For whom do property tax exemptions exist and for how much? Recommend a counteroffer back to list price. Plastic dishes last a long time because they are unbreakable. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. Now, calculate how much you lost: $153,890 - $139,900 = $13,990. The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. However, she believes the sellers will not be willing to accept the offering price. What are some important tips for home tours? Next, calculate the points charged; $168,500 x 0.02 = $3,370. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Skip the activity report for that week. 4- What is a good method for estimating what a seller will net from the sale of the property? C. Find a lender who is willing to do FHA loans. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? What kind of agreement is this? Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. If an item is already correct, write C on the line provided. 5 of 10 Which of the following is not a source of information for professional ethics codes? The owner has 30 days to notify the county assessor. Answer: D- Return the money to buyer Norm. The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. The listing price of a house is $139,900. 10. 93- Jim has created a nice property flier for the James home. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. 3 of 10 What kind of ad usually combines both institutional and product advertising? 6- What is the main reason sellers choose to sell their property without an agents help? : The Commission could suspend or revoke Rob's license. 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. This is not true of which duty? D. Make sure all light bulbs and lamps are working and are bright. 11. C. It must specify a definite termination date. He must withdraw his representation of one of the parties. What will the new owners pay in property taxes? 45- Kirk wants to get an FHA loan. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? A. 46- A life insurance company would most likely invest in all but which of the following properties? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. A counteroffer represents a rejection of an offer. Underline each word that should be capitalized in the following items. 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. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. A. There is nothing that can offset this problem. How much do you have in your savings account? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? 2- Explain the difference between the primary and secondary mortgage markets. D. Will conducted an agent open house last week that was attended by 25 agents. 5- What is the Closing Disclosure? 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. What property type will he be dealing with? 5. 3- What is the difference between CLTA and ALTA policies? 5- What actions can the sellers take regarding the purchase offer? He succeeds in setting up an appointment to meet with the caller. C. The same amount will go towards the principal every month. Who is responsible for removing the lien to clear the title? 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. 3 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? For purposes of federal income tax, which statement is true? The loan will be distributed to them gradually. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Pellentesque dapibus efficitur laoreet. B. B. Brenda has violated the fiduciary duty of obedience to Jim. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. A. 33- Which statement is true about a loan that has a negative amortization? B. C. Brenda could be liable for a breach of the listing terms. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 2- When establishing rapport, whats one of the best ways to get to know your buyers? B. I will practice my listing presentations. B. D. Offer to call the prospect when new listings that meet his or her criteria come on the market. Has New Age violated any laws? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. Give $250 to the buyer and $250 to the seller. What is the major difference between an employee and an independent contractor? Retain the check for use with a future sales contract offer. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. C. Identifies buyers for other properties. Be a deal maker. Be open-minded. 14- Value includes which of the following aspects? C. Ask the caller when not if he or she wants to see the property. 7- Name three benefits of listing a home with an agent that you could share with sellers. 1- What are the five aspects that are involved in any selling approach? 106- If broker Tim advertises a property for sale that he doesnt intend to sell so that he can attract potential buyers, Tim is practicing: >Real Estate Practice Class Questions with no Answers for 1- When is an agency relationship created? What should Tom do? C. Greg has violated the duty of confidentiality to Kim. C. Theyre probably paying a higher interest rate on the second mortgage. Whoever brings the buyer will get the commission. Which of these statements is true about the wraparound mortgage? How does ALTA-R differ from ALTA? C. The fair market value at the time of sale B. Sandy and Bill are putting 30% down on their home purchase. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. D. The date Abby makes the request to receive the booklet. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? C. Recommend a counteroffer back to list price. C. Jim and Amanda whisper and frown when they see the basement. C. The seller can do all repairs himself. 3- What is a good approach to use when contacting the owner of an expired listing? C. Insurance agents dealing with customers. A. Mike has changed jobs six times in the past six months. Code Violations and Tax Delinquencies. A. 8 of 10 Which of these marketing tools is not considered a traditional tool? D. Understanding characteristics of the rental market. California: Real Estate Practice Ch7 Quiz with no answers. C. Real Estate Settlement and Procedures Act. B. buyer randy makes an offer to purchase - fabricadecosas.com California: Real Estate Practice Ch9 Quiz with no answers. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? 6 of 10 Which of the following statements is not true? Properties are very liquid and can move quickly. 78- Nancy bought her home last year for $425,000. What should Pat do with the earnest money deposit? 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? A buyer wants to take the offer to an attorney to review it. 2- What exception exists to the duty of obedience when working with a client? 1- What is a competitive market analysis? A. You bought if for the listing price plus 10% and sold it for the listing price. Tip: to find a certain word or key term, press at the same time, the buttons: California: Real Estate Practice Ch1 Quiz with no answers, Answers will be revealed with proper subscription. 8- Why should agent Grace give her client a Combined Hazards Book? C. If Larry verbally accepted the offer, Kirk is bound by it. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? 5- What kind of newspaper ad could you place to solicit a listing? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Randy and his real estate agent, Bob, enter into a listing agreement whereby Bob may list Randy's property but Randy may also try to find a buyer Bob finds Clarice, a buyer who has enough cash to purchase the property and would like to purchase the property today. His depreciation was $2,500 per year. Discourage Sam from accepting an offer so far below Sam's asking price.
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