D. Give the sellers the price over the phone so that they can think about it before you meet with them. What should Tim do next? Maximize the return to the property management firm. A. Which of these forms of advertising is she most likely to avoid? 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. D. The first and second mortgage will be rolled into one. 1- What is important to know about unlicensed real estate assistants? 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? Present the offer and tell the seller that the check needs to be held until June 30. D. An exclusive listing must always be at least 30 days long. 64- Which of the following is not a form of personal advertising? 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. A. 65- Which of the following items is usually not prorated at closing? \text { Annual cost of quality training } & 456,000 \\ Write a counteroffer. An assistant should never be left with the task of taking photos of a new listing. D. Offer to call the prospect when new listings that meet his or her criteria come on the market. 5- What should a good management contract contain? 5 of 10 RESPA applies to all of the following EXCEPT which? 1 of 10 Which of these statements is not true? What approach can their agent take to change the sellers perception of the offer? Give credit to all potential borrowers. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. The purchase price, plus depreciation, B. Find solutions. 4- Describe how a property manager can receive his or her fees. D. All adjustable rate mortgages have negative amortization. Two months later she purchased and moved into a new home that cost $145,000. 1 of 10 All of the following are good approaches for handling objections except which? 9 of 10 A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? dota 2 annual revenue 2020. adam foote parents. 8- What do you call those items that have been incurred by the seller but not paid, and how will they be handled on the settlement statement? D. Make the headline bold and all caps. Bill is purchasing a 6-family apartment building. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. What is this called? A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. California: Real Estate Practice Ch8 Quiz with no answers. A. View an objection as the buyers request for more information. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. B. Supervises the Truth in Lending Act. B. Jim Sharp is purchasing his fathers home. 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? Deposit the check into his trust fund account on the next business day. B. D. Gross income must be based on hours worked. The property is in an area that could flood. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. 7. 8- What is an important issue for potential buyer clients to understand? 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? C. The fair market value at the time of sale (Who, Whom) has been selected as the team captain? What kinds of things should you include in a weekly activity report? List the details of all parties involved. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? Buyer Norm just signed a purchase contract with licensee Pat. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 3- Differentiate between mortgage brokers and mortgage bankers. 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? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. B. 2. What should Bob do? 3 of 12 All of the following are primary mortgage market lenders except which? 30- Being prepared to handle incoming phone calls means all of the following except which? Virtual tours are a very expensive marketing tool to use. Anasayfa; Hakkmzda. Amanda loves the home and wants to make an offer. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 9 of 10 A shopping center would be primarily categorized as what type of property? 3- For whom do property tax exemptions exist and for how much? Offer to mail the caller a set of fliers on interesting properties. 8 of 10 Which of the following circumstances would concern you about working for Broker John? Give housing choices to the widest range of people. B. I will practice my listing presentations. B. Example 1. A. B. C. Ask the caller when not if he or she wants to see the property. C. How much time the licensees must spend in the office. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? Which of the following conditions is Paul not required to report on this form? Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. 86- Which of the following is not considered a benefit of investing in real estate? How are properties affected by the local economy? Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. He has put up $50,000 in preferred stock as earnest money. 5- Define the term loan-to-value ratio. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. Change the locks on the tenants apartment. How does ALTA-R differ from ALTA? 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 purchase price, plus depreciation 1- When is real property reassessed? What would you say about Sallys behavior? Lorem ipsum dolor sit amet, consecteticitur laoreet. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. A. Jim specializes in clients who want to buy restaurants. 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. A. C. The buyers and sellers agents will sign the escrow instructions. Rule F-1. buyer randy makes an offer to purchasei miss you text art copy and paste. 2- What is important to remember about multiple offers? 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. 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? For purposes of federal income tax, which statement is true? Answer: C- Try to get Sam to accept the offer. 8- What does the Water Heater Statement of Compliance address? Allows quick repayment of the loan through accelerated payments. 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. 38 of 50 What is the primary role of Fannie Mae? The lender gives a mortgage to the borrower and gets funds in exchange. 10 of 50 There has been very little interest in the Bowers home this past week. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? 3. 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. Buyer Norm called and rescinded the offer. What is Gregs capital gain on the apartment? 8 of 50 Buyer Kirk submits an offer to seller Larry. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. \text { Annual cost of scrap materials } & 286,000 \\ D. Exclusive-authorization-and-right-to-sell agreement. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? 6- What does the security and insurance clause of the listing agreement address? : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. Ask the buyers to sign a real estate transfer disclosure statement. A. B. Now, calculate how much you lost: $153,890 - $139,900 = $13,990. D. This action is deliberate misrepresentation. 1.555.555.555 | frontier airlines crash history. 8- Why is it important to have a written prospecting plan? In this case, multiply the monthly income ($600) by 12. 8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker? 2- Explain the difference between the primary and secondary mortgage markets. Which of the following items can Matt not add to the original cost when doing the computation? 6 of 10 Which of the following is not a true statement? Tell the buyer about the other offer and urge the buyer to skip the attorney. Ask the caller if he or she would like to receive e-mails on newly listed properties. 3 of 10 All of these items are important to include on your weekly activity report except which? 7. D. Placing a classified ad in the weekend paper. 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. D. Brenda has not violated any fiduciary duty. This would be the maximum the purchaser would be permitted to borrow. During this interim period, grant makes monthly rent payments and the owner accepts them. A. A. He paid $100,000 for it, and made $300,000 worth of improvements. B. 5 of 10 You should try to attach a rider strip to your For Sale sign that has: 6 of 10 If there is no interest in the property on a given week, the agent should: A. C. It creates an agency relationship. B. 31- Patrick has a written independent contractor agreement with his broker Tami. They will have to make a very high down payment. 4- Explain the documentary transfer tax. 10- Which disclosures are NOT required to be made when selling residential property? 4- What is the agreement that a broker can enter into with a buyer? What would you say about Alexs actions? 8- What is an important issue for potential buyer clients to understand? What should Tom do? C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. 3 of 10 Which of the following would be an example of a licensee specializing in business type? $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. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. D. All repairs must be in compliance with existing building codes. California: Real Estate Practice Ch12 Quiz with no answers. California: Real Estate Practice Ch10 Quiz with no answers. A. A secondary bid for a property that is less than the first offer Allows the agent to determine community market trends. 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? Not waste anymore time on this house, the buyer will never make an offer. B. What approach can Greg use to discourage the person from calling other agents? B. 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. What is the major difference between an employee and an independent contractor? 7 of 10 Which of these forms is not filled out by the seller? 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. The offer with the fewest contingencies Write a contingent counteroffer. What should agent Phil do? A. 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? What kind of a mortgage do they have? 33- Which statement is true about a loan that has a negative amortization? 57- Under federal income tax law, the basis for a personal residence is which of the following: 44- Jim owns a gift shop in a commercial building. Lenders are in the best position to qualify buyers. 1 of 10 Which figure represents the amount of income available as a return to an investor? He pays rent for occupancy, plus maintenance and operating expenses. 29 of 50 What is one way the Federal Reserve System regulates the money supply? 100 Prices of properties currently on the market, C. Properties that were listed but did not sell. B. Brenda has violated the fiduciary duty of obedience to Jim. 4- What are the major areas of newspaper leads? C. The owner has 45 days to pay the new property taxes. 2. 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? B. What kind of lease does Jim have? The buyers family is pressuring them to purchase this home. 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. 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? C. Real Estate Settlement and Procedures Act. D. Meet with an inspector at a listing. C. Payments will not be enough to retire the loan. B. Pleases the sellers by inv=creasing activity. If the loan is VA guaranteed, no down payment is required. C. I will get three new listings this month. Find a home that meets FHA requirements. 6. B. I think theyre asking a fair price., C. What do you think would be a fair price?, D. The comps say that this price is right on target.. There are several successful agents at Johns office. 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? Decide which offer is best and present that one. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? California: Real Estate Practice Chapter 17 Quiz with no answers. C. A counteroffer can give the buyers an out if they want one. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. California: Real Estate Practice Ch5 Quiz with no answers. A. Kirk doesnt have the right to withdraw the offer so soon. 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? C. Regulating reserves of institutions with savings accounts only. 9- What is the basic purpose of Truth in Lending Regulation Z? D. She should persuade them to accept the offer. Try to get Sam to accept the offer. California: Real Estate Practice Chapter 14 Quiz with no answers. 19- Which of the following is not an advantage of hosting an open house? 2- What types of office administration tasks are important for a licensed assistant to perform? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. Hometown received $2400.00 in referrals. 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? What would be a good approach for Pam to take? D. Visiting a neighborhood with a co-worker could make you feel more comfortable. Harry has some buyers that he believes are ready to make an offer. 1 of 10 Gail is a licensed real estate assistant. B. 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. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? You can make a Best Offer on listings that have a Make Offer button. B. C. The borrower pays a fixed rate of interest. A. B. Pam is not liable since it was summer and the heating problem was not obvious. C. The home sits on an earthquake fault zone. One day later. She tells them that this action could decrease their property values. Next, calculate the points charged; $168,500 x 0.02 = $3,370. Bill cannot contact the seller. D. Gross income must be based on hours worked. C. Date and attach supporting documents. The loan value is based on the appraised value, not the sale price. B. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 5 of 10 All of these would be effective at capturing a readers attention except which? 68- Greg and Joyce have an adjustable rate mortgage on their home. This mortgage type is popular among the elderly. Before completing the form, discuss the following important points with the home seller: Price. What is this agreement called? C. Discover why some homes havent sold. A. C. Identifies buyers for other properties. D. The UCC is a body of law that standardizes a number of business practices. New Age purchased a new coffee maker the office was in need of. This is not true of which duty? Their interest rate will rise after the first few years. Broker compensation to other brokers. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? 10 of 10 A competitive market analysis is an attempt to: A. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home.