A. Nam lacinia pulvinar tortor nec facilisis. Code Violations and Tax Delinquencies. D. Broker Tom has only limited responsibility for the actions of his licensees. 9- What required disclosure is a result of Megans Law? She sold the property and several months later the buyer sued Pam for not disclosing the problem. D. Placing a classified ad in the weekend paper. What property type will be his specialty? 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 2- When establishing rapport, whats one of the best ways to get to know your buyers? 42- Alice is planning her career and setting her goals. A rental condominium for a recreational vehicle. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. 4- What is a good method for estimating what a seller will net from the sale of the property? How does ALTA-R differ from ALTA? C. Clearly written contractor agreement must exist. 5- When must a licensee provide an agency disclosure to a prospective client? 4. A. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. Goodwill is an intangible asset that results from the reputation of the business. A. They will have a number of new expenses as a result of this purchase. 1 of 10 What kind of lease contains a recapture clause? Tell Linda that the sellers will be very disappointed if they cancel the appointment. C. Prepare additional documentation to take to the presentation. What should Tom do? 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? The home is listed at $210,000. 8 of 50 Buyer Kirk submits an offer to seller Larry. D. Call the sellers immediately and let them know you wont be coming by. chris kelly rock 92 net worth. B. A. Point out that the roof is not leaking despite its age. 10- Which disclosures are NOT required to be made when selling residential property? D. In most situations, an assistant should not have the responsibility of in-person contact with clients. Mary makes an offer to purchase a duplex from Sam. C. Write and sign commission checks to salespersons. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? B. How should licensee Fred handle this offer? C. Tell them that this home is an exceptional buy and encourage them to look anyway. Give credit to all potential borrowers. 9 of 10 All of these might be a buying signal except which? C. An offer or counteroffer can be withdrawn at any time before it has been accepted. Now, calculate how much you lost: $153,890 - $139,900 = $13,990. B. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? A religious organization providing housing to members only, C. The sale of a single-family home by an owner who owns five residences, D. Rental of a unit in an owner-occupied four-family flat. D. Their lender can profit from the difference in interest rates. 69,200 7- What does the net operating income of a property represent? What kinds of insurance do brokers normally require of their employees? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? The loan value is based on the appraised value, not the sale price. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. B. There are several steps in calculating the answer to this question. California: Real Estate Practice Ch3 Quiz with no answers. 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? 1- What are the three important considerations for a good property investment? The purchase price, plus improvements, C. The fair market value at the time of sale. They were counting on a full-price offer and are very disappointed. 12- What does TRID require of lenders? Not waste anymore time on this house, the buyer will never make an offer. She can do all of the following except which? 4 of 11 Which of these is also called a contract for deed? 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? A broker may require licensees to carry high levels of automobile insurance. A. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? 3. A. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? Who will pay the points? Harry has some buyers that he believes are ready to make an offer. A net listing is illegal in all states. What is the status of the contract between Sam and Mary? 2 of 10 Which is not a true statement about the Americans with Disabilities Act? Discourage Sam from accepting an offer so far below Sam's asking price. This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. Bob Broker knows that another offer will be coming in at about the same time. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? C. The broker must conduct the escrow personally and not delegate any escrow activities. B. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 76- Mark believes he has been discriminated against during his home search. How long does he have to file a complaint with the Department of Housing and Urban Development? Sam asks Bob what the price is. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? A. The buyer was responsible for making the discovery, so Pam is therefore liable. Then present the $208,000 offer. 4. Find things in the home a seller needs to repair. Rule 21 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. 19- Which of the following is not an advantage of hosting an open house? 5. 3- What are the three general responsibilities of a property manager? 62- When agent Hal shows a home he should never: A. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 5- What kind of newspaper ad could you place to solicit a listing? yellowbrick scholarship reviews. 8- Under what conditions may a landlord enter a tenants property? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? Which of the these activities does she have control over? fairbanks ice dogs standings . Will placed an ad in the most recent Home Buyers Guide. D. The interest payment is always smaller then the amount allocated to the principal. To access the website, click "Allow". 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? Which of the following conditions is Paul not required to report on this form? A. I will make two new contacts every day this week. D. The owner has 45 days to file a change in ownership statement. 5- What does the safety clause in the listing agreement do? Which of these ad headlines would probably be the least effective for this home? C. Classified ads placed on the property, D. Number of hits on the company website. 6- What does the security and insurance clause of the listing agreement address? 64- Which of the following is not a form of personal advertising? 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Next, calculate the points charged; $168,500 x 0.02 = $3,370. Which of the following would be considered an intermediate goal? A secondary bid for a property from the same buyer. C. Identifies buyers for other properties. B. What is meant by the term sphere of influence? 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. 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. Make sure all required disclosures have been done. D. Employee status versus independent contractor status is an IRS issue. B. C. The fair market value at the time of sale D. The borrower gets a note in exchange for a mortgage. 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?" 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? Other than residential list three kinds of property in the real estate market. A. 5- Define the term loan-to-value ratio. A. 3 of 10 Sara just bought her first new home. Suggest that the buyer look at a different house. 4- Describe a reverse annuity mortgage. This broker is guilty of what prohibited activity? C. If Bill pays off the loan early, there will be no prepayment penalty. Which statement is true? D. After the agent has had time to make copies at the office. A. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. castilian drive, los angeles. 96- Which statement is not true about a listing contract? B. Exclusive-authorization-and-right-to-sell agreement. Which would NOT result from the exercise of police power? buyer randy makes an offer to purchase. 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? Present the higher-priced offer first. A. buyer randy makes an offer to purchase. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. B. Give a discount to families with children. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. B. Rewrite whole paragraphs to ensure clarity. Elaine parks across the street from the home and Mike is disappointed by what he sees. 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. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 5. 8 of 10 Which of these marketing tools is not considered a traditional tool? What is important to remember about capturing the readers attention? A. Generates leads for new listings. 10. Two months later she purchased and moved into a new home that cost $145,000. D. Gross income must be based on hours worked. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. Bob Broker represents Sam Seller. 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? 6- According to California real estate law, how often must a broker balance his or her trust accounts? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? \text { Annual cost of quality training } & 456,000 \\ Does not need to be familiar with office policy. "No, you may lose the house." He succeeds in setting up an appointment to meet with the caller.
Giovanni Agnelli Doris,
Florida Man September 25, 2006,
Articles B