Richland Parish Assistant District Attorney, Gallup Twins Now, Articles B

Brenda refuses. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. C. When you have 200 names in your contact database. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). 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. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. : The Commission could suspend or revoke Rob's license. A. How long does he have to file a complaint with the Department of Housing and Urban Development? B. 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. Rule F-1. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? How long must a broker be licensed in order to apply for a temporary broker's license? B. 9 of 10 Which of the following statements is not true? A. The sales agent should: Write a counteroffer stipulating the sellers' request. A. B. C. Is subordinate to a first mortgage. Her asking price was $560,000 and the property sold for $575,000. What should Bill do? buyer randy makes an offer to purchase. C. Classified ads placed on the property, D. Number of hits on the company website. Buyer Jim asks if he can visit the property for a second time. 4- How is property management seen as a risk to investing? The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. B. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? A Bill of Sale gives title to the business equipment. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. This action is legal but very unprofessional. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; 77- Which of the following Internet pages might not be of particular interest to buyers? D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. C. Johns office has a selection of books, CDs and tapes for agent use. C. Clearly written contractor agreement must exist. 11- Greg and Joyce purchased a home from the builder who offered to pay $5,000 at closing as an incentive to get them to buy. Give an example of a specific short-term goal. The buyers family is pressuring them to purchase this home. If a seller changes the terms of the offer to purchase, he has created a counteroffer. C. An assistant can keep track of the progress of activities during escrow. A. B. What California Fair Housing law has the manager violated? C. Tangible assets transferred in the sale include inventory, fixtures and equipment. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. 93- Jim has created a nice property flier for the James home. You had a 9% loss. 3- In what three ways can an assistant aid an agent with appointments? C. Greg has violated the duty of confidentiality to Kim. B. Its a good idea for brokers to carry workers compensation coverage. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. The borrower makes payments of interest only over the term of the loan. D. Ensure fair real estate negotiations. Name and define the two forms of advertising. A. B. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. California: Real Estate Practice Ch8 Quiz with no answers. Answer: B- The contract is voidable due to mutual mistake. 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office. Ask the buyers to sign a real estate transfer disclosure statement. D. Property evaluations from other agents have valuable information for sellers. D. Lends good visual support to what the agent is saying. The sellers want the earnest money check made payable to them instead. C. The air conditioner does not work. A. 10 of 10 A competitive market analysis is an attempt to: A. D. Supply cannot be moved to a high demand area. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? What percent of commission the licensees can charge. Return the earnest money to buyer Norm. 7- What is the difference between an FHA loan and a VA loan? What will the new owners pay in property taxes? A buyer wants to take the offer to an attorney to review it. He asks his real estate agent if she could tell him how to go about building a house on the land. How would you classify this essay (high or low comedy)? 4- Why is it important to talk to the sellers about the buyers? A. Sam plans to overnight the acceptance on Monday. D. Kirks offer to Larry is legally cancelled. Broker Ashley has been working for a seller for the past seven months. 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? What kind of agreement is this? Give the deposit money to the seller. What is the primary criticism that sellers have about their agents? 10 of 10 Which of the following is not a possible benefit of investing in real property? Is depreciation accounted for by a hospital? 4 of 10 Which of these is not an important aspect of selling? Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. B. Exclusive-authorization-and-right-to-sell agreement. Answer: A- Proceed as if the buyer has decided to make an offer. 9 of 10 Which of these is not a helpful homeowner tip? Is there a contract between the buyer and seller? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? 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. Which is a true statement? Tell the buyer to submit the offer first and then take a copy to the attorney to review. C. I will open my own office within nine years. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 41- Agricultural land includes all of the following EXCEPT which? What should Bob do? Who is responsible for removing the lien to clear the title? Answer: D- It was never effective since Sam had not notified Mary of the acceptance. 8 of 10 Which of the following circumstances would concern you about working for Broker John? Seeking buyers for your listings B. 17 of 50 Kathy is a personal assistant at Action Realty. What does the net operating income of a property represent? C. Salespersons must perform all of their activities on behalf of their employing broker. The borrower makes payments of interest only over the term of the loan. How should Jan's licensee handle the offer? Their first mortgage will get paid off immediately. What are some important tips for home tours? the buyer is not allowed to make a counteroffer. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. Sunday afternoon, Mary is driving around and finds a property she likes better. 75- All but which of the following is NOT an AIDA feature? 52- Which statement is true about a listing contract? 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. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. He must withdraw his representation of one of the parties. On what amount will they pay capital gains tax? 3- Differentiate between mortgage brokers and mortgage bankers. Instead, Bob terminates the relationship with Mary. 10- Whats the difference between a lease purchase and a lease option? C. Present Alexs offer first since it came in first. Their interest rate will rise after the first few years. What would be a good approach for Pam to take? Secure documents that are public information from the courthouse and other sources available to the public. He just sold it for $13,000. A. There are several successful agents at Johns office. B. Elaine parks across the street from the home and Mike is disappointed by what he sees. 7- How can a builder help you generate leads? A broker may advertise that he or she is an escrow agent. Which of these forms of advertising is she most likely to avoid? However, she believes the sellers will not be willing to accept the offering price. 1- How much is the loan origination fee and what does it cover? A. 45- Kirk wants to get an FHA loan. B. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. 4 of 11 Which of these is also called a contract for deed? Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. The sales agent should: Write a counteroffer stipulating the sellers' request At time of license renewal, what is the renewal charge for a salespersons license? 5 of 10 Which of these is not a true statement? The difference between what Sara owes and what her home is worth is known as what? A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. 63- Jennys home appraised for $550,000. 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? A rental property has a return rate of 8%. 8- Why is it important to have a written prospecting plan? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? A. 9. 8 of 10 Which of these is a free form of advertising? D. Purchasing loans from primary lenders. 6- What is important for the sellers to know about a counteroffer? D. Reduces the monthly payment for a borrower during the initial years. A. C. Theyre probably paying a higher interest rate on the second mortgage. What is meant by the term sphere of influence? Display lots of family photos to impress potential buyers. B. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. 4. C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 74- Which statement is not true about an agency relationship? Rate of return is computed by dividing the annual net income by the rate of return. Referral fee to a homeowners insurance agent. 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. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? Licensee Pat was in transit to the cooperating licensee's office with the offer. 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. The borrowers family in case of his or her death, B. A. Retain the check for use with a future sales contract offer. 2 of 12 Which of the following statements is not true about the Federal Reserve? Answer: B- Encourage the buyer to get the attorney to review it quickly. 2. D. All repairs must be in compliance with existing building codes. Sending cards and newsletters is a good way to keep in contact with clients and prospects. C. A counteroffer can give the buyers an out if they want one. 24 of 50 Tim thinks his buyers are ready to make an offer. Plastic dishes last a long time because they are unbreakable. 11- What are the penalties for violating Regulation Z? B. Enumerate the homes special features and hope they change their minds. What should Elaine do? Decide which offer is best and present that one. What is important to remember about capturing the readers attention? California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 2- When establishing rapport, whats one of the best ways to get to know your buyers? 54- Jim and Jane are buying a home for $120,000. 9- What is the basic purpose of Truth in Lending Regulation Z? B. B. D. Make the headline bold and all caps. List the details of all parties involved. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? Underline each word that should be capitalized in the following items. What will they have to pay at closing for the points? The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. buyer randy makes an offer to purchase. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. A. A. 5- When must a licensee provide an agency disclosure to a prospective client? B. D. Visiting a neighborhood with a co-worker could make you feel more comfortable. He paid $100,000 for it, and made $300,000 worth of improvements. Wait until next week to send an activity report, hoping things will pick up. Buyer Norm just signed a purchase contract with licensee Pat. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 1- What are the five aspects that are involved in any selling approach? In the past year they have referred two dozen people who have purchased flooring from New Age. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. 78- Nancy bought her home last year for $425,000. 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? 46 of 50 Greg grew up in and lives in a rural area. 8- When does a purchase offer become a legal contract? 5. 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. The definition of race was expanded to include ancestry. The purchase price, plus depreciation PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. C. Refuse to accept the offer and check. Sexta, 26 de novembro de 2021 . 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? 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? Each of their payments is for the same amount. An assistant should never be left with the task of taking photos of a new listing. 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 8 of 10 Which of these statements about counteroffers is not true? How to make a Best Offer. A. It became a contingent contract when Sam accepted Mary's offer. C. The date the lender receives her application. 44 of 50 Fair Housing laws are designed to: A. 3- What is the difference between CLTA and ALTA policies? 100 100- What does the Real Estate Disclosure Law refer to? 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? $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. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. Lorem ipsum dolor sit amet, consectetur adipiscing elit. B. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? A secondary bid for a property that is for more than the first offer Before the sale can get finalized, the owner would require you to first meet certain conditions. Jim has decided to specialize in what area of real estate? 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. 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. 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. C. Give the tenant a 3-day notice to pay or quit. D. Meet with an inspector at a listing. What should Bob do? 4- What items are not covered by any title insurance policy? Allows quick repayment of the loan through accelerated payments. Harry has some buyers that he believes are ready to make an offer. Checking your browser. 28- Abby applies for a federally-related loan to purchase a home. Most likely, what did they get? Give the sellers a copy of some homeowners tips. Who would be exempt under New Jersey fair housing law? 7. During business hours and only after giving the tenant 24 hours notice. 14 of 50 The title report on a property shows there is a lien on the property. C. FSBO sellers who list with an agent will pay their own advertising costs. 5- What kind of newspaper ad could you place to solicit a listing? Buyers looking at FSBO homes are usually looking for a bargain. What should a licensees written employment agreement contain? California: Real Estate Practice Sample of Final Course Exam. 1- What is goodwill as it relates to a business? At the end of the term, the loan balance will be negative. 8- What is an important issue for potential buyer clients to understand? The owner of the property is HIV positive. 73- Which of these is not a buying signal? 1. 4- Agent Greg receives a call about one of his firms ads. B. Nam lacinia pulvinar tortor nec facilisis. D. This action is deliberate misrepresentation. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? Bill cannot contact the seller. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 81- Jake has decided to specialize in working with clients who purchase schools. 6. An apartment building for a vacant lot, B. C. Participate in a tax shelter program. How does ALTA-R differ from ALTA? There are several steps in calculating the answer to this question. 9- Define a purchase money mortgage. He says to them, "Would you prefer to take possession on September 1 or October 1?" A. D. She should persuade them to accept the offer. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? Which is a true statement? 8 of 10 When is the first installment of property taxes due? D. Whether or not the licensees attend staff meetings. Courtesy of RealtyPact. Which of the following conditions is Paul not required to report on this form? Answer: C- Try to get Sam to accept the offer. 2- What exception exists to the duty of obedience when working with a client? D. Understanding characteristics of the rental market. 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. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. 86- Which of the following is not considered a benefit of investing in real estate? To learn more about the real estate business, D. To make more money than a real estate agent. 5. Which statement is true? How much did Sam gain or lose on the sale? B. Suggest that the buyer look at a different house. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 2- Explain the difference between the primary and secondary mortgage markets. California: Real Estate Practice Ch5 Quiz with no answers. A. Hes very comfortable selling that type of property and knows he can work well with clients in that area. Tom thereupon submits a full-price offer to the owner and purchases the property. He sounds really excited about this property. B. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. 10 of 10 All of the following are true statements about goals except which one? New Age purchased a new coffee maker the office was in need of. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. Tell the buyer about the other offer and urge the buyer to skip the attorney. B. Sandy and Bill are putting 30% down on their home purchase. C. Sharing all visitor comments two weeks before the listing ends. 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? The agent should, Something of value given to another as an inducement for entering into a contract is termed, To emphasize the timely performance as an essential part of the contract, a contract would use the words. B. At the time the agreement is signed. 44- Jim owns a gift shop in a commercial building. The lender makes payments to the borrower. C. The seller can do all repairs himself. A. Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. Mary makes an offer to purchase a duplex from Sam. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Point out that the roof is not leaking despite its age. 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. 3- When making your presentation, what topics should you cover? B. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. The sellers want the earnest money check made payable to them instead. The advertiser is subject to a fine. 1- What is an important thing to remember about listing agreements? C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. 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. 2 of 10 Assistants who are asked to be available for tasks in the field rather than in the office are referred to as: 3 of 10 Which of these items on a resume accompanying an application for an assistants position should be kept brief?