The purchase price, plus improvements Be a deal maker. California: Real Estate Practice Ch3 Quiz with no answers. A. Kirk doesnt have the right to withdraw the offer so soon. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 4- What is the agreement that a broker can enter into with a buyer? Will placed an ad in the most recent Home Buyers Guide. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. A. Mary makes an offer to purchase a duplex from Sam. Decide which offer is best and present that one. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 46- A life insurance company would most likely invest in all but which of the following properties? 7- How can a builder help you generate leads? Entails entering into two agreements simultaneously. 38 of 50 What is the primary role of Fannie Mae? What kind of lease does Jim have? 4 of 10 An unlicensed person engages in advertising that conveys the clear impression that he is a licensed real estate broker or is an officer or employee of a corporation who knowingly advertises a false statement concerning any land or subdivision. Rule E-1 D. Erics broker should appoint Eric as the designated agent in this transaction. What is important to remember about capturing the readers attention? B. The purchase price, plus depreciation, B. A. A. Lead-based paint was used in the home. A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. 4 of 10 What is a good method for an assistant to keep track of the various types of files a real estate broker must have? A. 1- What are the five aspects that are involved in any selling approach? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 1- What is goodwill as it relates to a business? 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. The monthly net rental is $600. Example 1. Sending cards and newsletters is a good way to keep in contact with clients and prospects. Refusing to make loans based on the racial composition of a neighborhood is called. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. CSP-Conlutas Central Sindical e Popular . B. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Start in the room with the best features. Tell Mike that the sellers will be upset if they cancel the appointment. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. This term typically refers to. Which of the following activities would she not be authorized to perform? 7 of 10 Which of the following is not a national real estate trade organization? Gross income must be based on production. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. Then present the $208,000 offer. Launch into your list of the homes special features and hope she changes her mind. 42- Alice is planning her career and setting her goals. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? 7. 1 of 10 All of the following are good approaches for handling objections except which? 8- Why is it important to have a written prospecting plan? 50- Harry has some buyers that he believes are ready to make an offer. 2- Explain the difference between the primary and secondary mortgage markets. 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. A. A broker may require licensees to carry high levels of automobile insurance. Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" B. 2- What does Proposition 58 state? B. A counteroffer represents a rejection of an offer. C. The home sits on an earthquake fault zone. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? Hes no longer interested in seeing the inside and Marge agrees. C. If Bill pays off the loan early, there will be no prepayment penalty. Where is it that he likely found out the property was for sale? B. B. 4. A. C. The buyers and sellers agents will sign the escrow instructions. Present the offer and tell the seller that the check needs to be held until June 30. Brenda refuses. She should advise them to let the offer expire with no action so the buyers will get nervous. B. You bought if for the listing price plus 10% and sold it for the listing price. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. D. Allows viewing access to strangers. Why or why not? 3- What is the difference between CLTA and ALTA policies? A. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Loan terms are from 15 to 25 years. During this interim period, grant makes monthly rent payments and the owner accepts them. dota 2 annual revenue 2020. adam foote parents. B. This would be the maximum the purchaser would be permitted to borrow. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? If the loan is for $68,000, what will Mark be assessed in points? 1. 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. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 11- What are the penalties for violating Regulation Z? On what amount will they pay capital gains tax? 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? $90,000 Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. 4- Agent Greg receives a call about one of his firms ads. C. The air conditioner does not work. The broker will owe fiduciary responsibilities to the seller as well as the buyer. C. Once you set a goal you should never change it. C. Exclusive-authorization-and-right-to-sell. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Which statement is TRUE? Click the "Allow" button. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? What kind of closing technique is Jim using? Better yet, try to avoid deal breakers. New Age purchased a new coffee maker the office was in need of. 5. 2- What kind of problem can result from a straight loan? D. Offer to call the prospect when new listings that meet his or her criteria come on the market. 2 of 10 When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? 2- Describe an open listing. 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. A. 5- When must a licensee provide an agency disclosure to a prospective client? She would likely be required to do which of the following? She tells them that this action could decrease their property values. D. All adjustable rate mortgages have negative amortization. C. Refuse to accept the offer and check. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). 3. 17 of 50 Kathy is a personal assistant at Action Realty. Mary wants to make an offer on a house that is 25% lower than the asking price. B. D. Gross income must be based on hours worked. 2 of 10 Which of these is not an AIDA characteristic? 2- Name one advantage and one disadvantage of telephone contacts. Answer a question with a question when possible. Could be a violation of state licensing laws. Share that information with the sellers. B. Ken must obtain his own training. What approach can their agent take to change the sellers perception of the offer? 6 of 10 Which of the following statements is not true? A. C. How much time the licensees must spend in the office. What should agent Phil do? C. Maintaining the office filing system. He says to them, "Would you prefer to take possession on September 1 or October 1?" On what amount will he pay capital gains tax? C. Discuss alternative properties that may be interest. Only needs to be done periodically. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? Which of the following statements is not true? A. Eric can require that both the buyer and seller share equally in his commission. Maximize the return to the property management firm. Answer: B- The contract is voidable due to mutual mistake. B. Discourage Sam from accepting an offer so far below Sam's asking price. 2. 100 B. 3 of 10 What kind of ad usually combines both institutional and product advertising? 9- What is the basic purpose of Truth in Lending Regulation Z? Tom violated the law by not providing notice of information that would affect Fred, When a broker received an unexpected bill, he deposited a client's earnest money check into his personal account to cover the expense. 6. 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? 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. Course Hero is not sponsored or endorsed by any college or university. How would you classify this essay (high or low comedy)? 2- What is important to remember about multiple offers? Bill cannot contact the seller. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. Preparation of an appraisal of the property, D. Help with required forms and disclosures. Referral fee to a homeowners insurance agent. California: Real Estate Practice Ch10 Quiz with no answers. 77- Which of the following Internet pages might not be of particular interest to buyers? university of missouri hospital salaries 2021; port orange arrests today. B. They made $50,000 of improvements. 2- What exception exists to the duty of obedience when working with a client? A Bill of Sale gives title to the business equipment. B. Greg has put himself in a potential dual agency situation. 3- What are the three general responsibilities of a property manager? I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. Tell the buyer to submit the offer first and then take a copy to the attorney to review. B. 22- Jane sold her personal home for $148,000. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. B. The other 75% came from an hourly wage paid by Tami. 4- Explain the documentary transfer tax. California: Real Estate Practice Ch9 Quiz with no answers. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. A. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. 1 of 10 What kind of lease contains a recapture clause? Explain the method used to write good advertising. Which of the following is true, if you are licensed as a referral agent? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? 87- What information can you gather from the newspaper to help develop a Prospecting Plan? During a phone call, a salesperson discusses showing a property to a prospect. Whoever brings the buyer will get the commission. Bob Broker represents Mary Buyer. Bob receives an offer from a buyer that is 12% below Sam's asking price. ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? A. Jake is getting a VA loan with no down payment. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. C. Present Alexs offer first since it came in first. 5 of 10 RESPA applies to all of the following EXCEPT which? B. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs The offer with the highest price that is the most likely to close 8 of 10 Which of the following is a good direct mail technique? 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. 5 of 11 Which of these statements is true about a CalVet loan?
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