D. Allows viewing access to strangers. 36- Broker Eric secures a loan for buyer Paul. 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. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. 1 of 10 Which of the following types of agency is not allowed in California? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 1 of 10 Which of the following actions by an agent would most probably upset the sellers? Only needs to be done periodically. $5,500 the first year, plus a maximum 2% increase in market value per year, B. Encourage the buyer to get the attorney to review it quickly. If an item is already correct, write C on the line provided. 16 juin 2022 why do babies clap their feet. Elaine parks across the street from the home and Mike is disappointed by what he sees. Explain. Donec aliquet. You can make a Best Offer on listings that have a Make Offer button. The couple now has. She sold the property and several months later the buyer sued Pam for not disclosing the problem. B. The purchase price, plus depreciation For purposes of federal income tax, which statement is true? 3- What is the difference between CLTA and ALTA policies? 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. Code Violations and Tax Delinquencies. A. How would Grants lease at this time be classified? Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. Retain the check for use with a future sales contract offer. A. Answer: C- Try to get Sam to accept the offer. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? 4- Amanda calls broker Tim to schedule a showing of one of his listings. B. C. Moving closer to the agent to get a better look. 5 of 10 RESPA applies to all of the following EXCEPT which? 2- What are some tax benefits associated with investing? The borrower gives the lender a note and a mortgage in exchange for the funds. B. C. How much time the licensees must spend in the office. 5. A buyer mails an offer to an out-of-town seller. 96- Which statement is not true about a listing contract? B. 10- Which disclosures are NOT required to be made when selling residential property? Broker compensation to other brokers. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. C. Knocking on doors never requires special permits. Amanda loves the home and wants to make an offer. A. 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. A. B. 7 of 50 Glenna and Amanda just bought their first home. What California Fair Housing law has the manager violated? California: Real Estate Practice Ch10 Quiz with no answers. D. The advertiser must prove he was grandfathered in as a licensee. D. Broker Gina puts $150 into her trust account. D. Administers special assistance programs. Yes, there was a contract when the seller mailed the offer, If, upon receipt of an offer to purchase under certain terms, the seller makes a counteroffer, the prospective buyer is. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. 9 of 10 All of these might be a buying signal except which? Deposit the check into his trust fund account on the next business day. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. How much do you have in your savings account? Other than residential list three kinds of property in the real estate market. C. Supervises the Federal Housing Authority. 93- Jim has created a nice property flier for the James home. If checked, the seller can complete repairs after closing. Establish a homes fair market value. Pellentesque dapibus efficitur laoreet. A. Brenda refuses. Use as little white space as possible. D. Is best left to experienced brokers. B. B. Decide which offer is best and present that one. D. This action is deliberate misrepresentation. 5. A. A. Ken is responsible for his own taxes, while the broker pays Sarahs. 53- Greg sold an apartment building he owned for 20 years. B. Have you been pre-qualified or pre-approved by a lender yet? D. All adjustable rate mortgages have negative amortization. 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 2- Name one advantage and one disadvantage of telephone contacts. The gross annual income, $7,200, divided by 8% (0.08), is $90,000. She is probably using all but which of the following tools? 14- Value includes which of the following aspects? How would you classify this essay (high or low comedy)? C. FSBO sellers who list with an agent will pay their own advertising costs. 16- Dave and Nadine have decided that they want to become property investors. What kind of mortgage might they get? wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo 7- In the initial meetings with the prospects, the agent should do all of the following except which? Can be used in place of a verbal presentation. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. D. She should persuade them to accept the offer. 10- Which disclosures are NOT required to be made when selling residential property? Harry has some buyers that he believes are ready to make an offer. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. The second mortgage has now become the primary loan. A. Lead-based paint was used in the home. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. 9- Define a purchase money mortgage. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? A. At time of license renewal, what is the renewal charge for a salespersons license? Which of the following statements is true? mejores programas bases de datos. 10 of 10 If an agent does not comply with the requirement of conducting a visual inspection of a property, how long after possession does the buyer have to file a suit? C. Have keys made for company listings. C. Refuse to accept the offer and check. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. Sharon and Steve have just taken a second mortgage on their home. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. 10 of 10 All of the following are true statements about goals except which one? Which of these forms of advertising is she most likely to avoid? $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. A. The purchase price, plus depreciation, B. A. A. 2. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. D. Whether or not the licensees attend staff meetings. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? If a buyer has given the broker a signal that the buyer is ready to make an offer, what should the broker do to get the buyer to make the offer? 8- Why should agent Grace give her client a Combined Hazards Book? The following table lists all costs of quality incurred by Sam's Surf Shop last year. Facebook Instagram. How does ALTA-R differ from ALTA? How to make a Best Offer. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? 6 of 50 Broker Tami has a very low advertising budget. 2- What kind of problem can result from a straight loan? A. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? 9- What required disclosure is a result of Megans Law? How much did Sam gain or lose on the sale? C. It must specify a definite termination date. One day later. Why is it important for licensees to understand the Americans with Disabilities Act? New Age purchased a new coffee maker the office was in need of. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. Buys pools of mortgages in exchange for mortgage-backed securities. 31- Patrick has a written independent contractor agreement with his broker Tami. D. Is permissible in amounts under $50. C. Prepare additional documentation to take to the presentation. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. C. The seller can do all repairs himself. 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? 4- How is property management seen as a risk to investing? 6 of 10 A buyer calls your office to inquire about a property he saw advertised. Find solutions. 47 of 50 Which of the following would not qualify as a 1031 exchange? B. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? Now, calculate the origination fee; $168,500 x 0.02 = $3,370. buyer randy makes an offer to purchase. 78- Nancy bought her home last year for $425,000. D. The date Abby makes the request to receive the booklet. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. D. Placing a classified ad in the weekend paper. Give an example of a specific short-term goal. D. The buyers love the landscaping improvements the sellers have made. 8 of 10 Which of the following circumstances would concern you about working for Broker John? A. Each of their payments is for the same amount. D. Meet with an inspector at a listing. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? Call Us Today! 6- What is the main reason sellers choose to sell their property without an agents help? 6- Whats important to know about the Liquidated Damages paragraph? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? B. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. 2 of 10 Which of these is not an AIDA characteristic? The advertiser is subject to a fine. Who would be exempt under New Jersey fair housing law? B. B. Jim Sharp is purchasing his fathers home. chris kelly rock 92 net worth. Broker John puts $500 into his trust account. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. 4 of 10 Which of the following would be the least desirable phone handling technique? 63- Jennys home appraised for $550,000. What would be a good approach for Pam to take? 4- What are the major areas of newspaper leads? Hometown received $2400.00 in referrals. What kind of loan do they have? A. 9- What required disclosure is a result of Megans Law? D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. A. 5 of 10 California allows a property manager to charge a non-refundable fee for which? 7- What is the difference between an FHA loan and a VA loan? "No, you may lose the house." 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? ", Answer: A- "What would you like to offer? Enter your offer. D. Hold both offers because he heard that a full-price offer is on its way. The date Abby receives the good faith estimate. Given the rise in the price of a plane ride, what percentage change in the price B. The purchase price, plus improvements, C. The fair market value at the time of sale. What must Tim do? Please remove your shoes before entering the home. 9- What is the basic purpose of Truth in Lending Regulation Z? 6- When is a lender required to terminate a borrowers private mortgage insurance? Name and define the two forms of advertising. B. B. 75- All but which of the following is NOT an AIDA feature? They will have to make a very high down payment. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. A. B. 9% D. Tim and Gail have qualified for an FHA loan. 10. Last year, about 25% of his income came from sales commissions. What kinds of things should you include in a weekly activity report? Rule 21 A. They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 9 of 10 Agent Paul is bound to inform his client of all facts that might affect the clients interests both what Paul knows and what he should have known. Which of these situations would not be something Paul should know? 3- What is a good approach to use when contacting the owner of an expired listing? A. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? by | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 D. Must start out as a part-time employee. What should Pat do with the earnest money deposit? B. 1- What is a competitive market analysis? 2 of 10 Which lender typically deals in interim financing? C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. 1. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? The borrower makes payments of interest only over the term of the loan. 6 of 10 Which of the following statements is not true? During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. Underline each word that should be capitalized in the following items. It was terminated when Mary delivered the recission to Sam. In the past year they have referred two dozen people who have purchased flooring from New Age. A. Salesperson Harry can solicit his own listings. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? 4 of 10 Which of these is not an important aspect of selling? B. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. B. 7 of 10 Which of the following is not a national real estate trade organization? Suggest that the buyer look at a different house. Bob should not have presented the offer after the property was under contract to another buyer. A. This form is the first step in any real estate deal. The buyer was responsible for making the discovery, so Pam is therefore liable. On what amount will he pay capital gains tax? C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. 8. 28- Abby applies for a federally-related loan to purchase a home. 4. 33- Which statement is true about a loan that has a negative amortization? 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? Her asking price was $560,000 and the property sold for $575,000. What is meant by the term sphere of influence? He pays rent for occupancy, plus maintenance and operating expenses. 2 of 10 Which of these is not a good technique to get the name of a caller who is reluctant to give you that information? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. Preparation of an appraisal of the property, D. Help with required forms and disclosures. 1. B. A. B. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. 1 of 10 What kind of lease contains a recapture clause? If the loan is VA guaranteed, no down payment is required. 2 of 10 Developing a prospecting plan is similar to: 3 of 10 Which of the following is not a legal notice that can provide a listing lead? 68- Greg and Joyce have an adjustable rate mortgage on their home. B. At the time the agent presents an offer. "Yes, let's offer $10,000 less than the asking price. C. The date the lender receives her application. Possession date. In addition to agent and MLS home tours, what are some other ancillary tools you can use? A. Find a home that meets FHA requirements. He refuses to rent the other unit to families with children. Which of the following statements is true? 10 of 50 There has been very little interest in the Bowers home this past week. They will owe a balloon payment at the end of the loan term. Her broker has asked her to be available for tasks in the field rather than in the office. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Next, calculate the points charged; $168,500 x 0.02 = $3,370. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. B. What will the new owners pay in property taxes? What does that mean? C. Recommend a counteroffer back to list price. A basis of $148,000 and no taxable gain, B. A secondary bid for a property that the seller will accept if the first offer fails 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? 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. It must be in writing to be enforceable. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. He has put up $50,000 in preferred stock as earnest money. 54- Jim and Jane are buying a home for $120,000. The Residential Environmental Hazards Guide, B. buyer randy makes an offer to purchase 10 of 10 Which of these Internet pages might be of particular interest to sellers? The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. B. B. Exclusive-authorization-and-right-to-sell agreement. Underline the correct pronoun in parentheses in the following sentence. 5- How do life insurance companies get involved in the investment market? Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. 4. What should Bill do? 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. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? D. Visiting a neighborhood with a co-worker could make you feel more comfortable. C. Tell them that this home is an exceptional buy and encourage them to look anyway. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? What do you need to remember about making phone calls to potential clients? 1- What are the five aspects that are involved in any selling approach? Sexta, 26 de novembro de 2021 . What should a licensees written employment agreement contain? A counteroffer represents a rejection of an offer. Alex Jones owns a duplex and lives in one unit. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. C. Date and attach supporting documents. 6 of 10 Which of the following is not a true statement? 18 of 50 The listing type that assures a broker that he or she will receive compensation no matter who procures the buyer is what kind of agreement? Referral fee to a homeowners insurance agent. A. buyer randy makes an offer to purchase. 2- When establishing rapport, whats one of the best ways to get to know your buyers? There is a crack in the basement wall. A. Sam accepts the offer and executes the contract on March 1, a Sunday. 3. If you like, you can add a message to the seller. When should the agent have disclosed this fact? Billy's agent tells him that he needs, When using the cost approach to appraise a property, the appraiser is most likely working for the, insurance company trying to obtain a replacement cost on the property. 7 of 10 Which disclosure form gives detailed information about the propertys condition? B. C. A broker is not responsible for the acts of independent contractors. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. B. Attend weekly staff meetings at the office. Refusing to make loans based on the racial composition of a neighborhood is called. Sunday afternoon, Mary is driving around and finds a property she likes better. If the loan value is 80%, and the property was appraised at $86,500 and sold for $88,000, how much would the purchaser be permitted to borrow? C. Classified ads placed on the property, D. Number of hits on the company website. 12- What are grant programs typically used for? There . 6- According to California real estate law, how often must a broker balance his or her trust accounts? 5. B. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. C. The fair market value at the time of sale Answer: A- Proceed as if the buyer has decided to make an offer. cross elasticity of demand for train rides with respect to the price of a plane ride 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. 8. What kinds of things should he be looking for? Which term is the process of joining several parcels of land into one larger parcel? \hline A secondary bid for a property that is for more than the first offer B. What is the market value of the property? Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. C. The lender gives the borrower a mortgage and funds. escrow money must be passed back to the buyer. 1- What is escrow? California: Real Estate Practice Chapter 17 Quiz with no answers. Give as much detailed information about the property as you can. 2 of 10 Which of these statements is true? Virtual tours are a very expensive marketing tool to use. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. 2- List the three Institute of Real Estate Management property management designations. B. Brenda has violated the fiduciary duty of obedience to Jim. Private mortgage insurance is available for FHA loans. 3 of 10 Which of the following would be an example of a licensee specializing in business type? 1- How much is the loan origination fee and what does it cover? \text { Annual cost of quality training } & 456,000 \\ B. Jim has decided to specialize in what area of real estate? B. A. Jake is getting a VA loan with no down payment. 6- What is important for the sellers to know about a counteroffer? 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? A. I will make two new contacts every day this week. 43 of 50 Which one of these statements would not be considered a measurable goal? 2 of 12 Which of the following statements is not true about the Federal Reserve? B. C. Alice is getting a conventional loan and making a 15% down payment. A. Ask the caller if he or she would like to receive e-mails on newly listed properties. 4. Start in the room with the best features. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? D. Purchasing loans from primary lenders. Which of the following activities would she not be authorized to perform? An open listing is an exclusive contract. the buyer is not allowed to make a counteroffer. 5 of 10 Which of the following would not be a reason to choose to be an assistant? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? 46- A life insurance company would most likely invest in all but which of the following properties? 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. Bob writes the offer but is too embarrassed to submit it. 6 of 10 Which of these is an emotional reason that buyers buy property? The sellers want the earnest money check made payable to them instead. Which statement is true? 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? A. 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? B. 3- Differentiate between mortgage brokers and mortgage bankers. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? Housing and Community Development Act. The term of the loan can be shortened. B. Rewrite whole paragraphs to ensure clarity. 59- Which of the following is a sellers request that an agent cannot honor?
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