C. The air conditioner does not work. Sam asks Bob what the price is. C. Payments will not be enough to retire the loan. 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? Which is a true statement? 2- When establishing rapport, whats one of the best ways to get to know your buyers? You can make a Best Offer on listings that have a Make Offer button. C. Find a lender who is willing to do FHA loans. California: Real Estate Practice Chapter 15 Quiz with no answers. Example 1. For what type of loan is the borrower applying? Which of the following is Kirk himself not likely to do during the application process? 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? 2 of 10 Which of these is not an AIDA characteristic? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? D. Exert pressure on the sellers to include something the other party wants. 4- Amanda calls broker Tim to schedule a showing of one of his listings. What does that mean? C. Date and attach supporting documents. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. The difference between what Sara owes and what her home is worth is known as what? Answer: A- Proceed as if the buyer has decided to make an offer. C. The buyers are interested in another property. Name four traditional marketing tools that you should use with every listing you get. 5- What should a good management contract contain? D. All adjustable rate mortgages have negative amortization. Point out that the roof is not leaking despite its age. She tells Broker Al that he can list the property for whatever price he wants and anything he gets above the $150,000 he can keep as his commission. 5. A. Which of these actions might have caused their upset? 4- What is a good method for estimating what a seller will net from the sale of the property? 5 of 10 Which of the following would not be a reason to choose to be an assistant? 4- Describe how a property manager can receive his or her fees. If a seller changes the terms of the offer to purchase, he has created a counteroffer. A. 8- When does a purchase offer become a legal contract? The term of the loan can be shortened. 78- Nancy bought her home last year for $425,000. 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? 3- What are the three general responsibilities of a property manager? Next, calculate the points charged; $168,500 x 0.02 = $3,370. D. Have the prospects sign the disclosure about agency relationship. C. Your plan for finding the buyer a home. A. What disclosure does the salesperson owe to the buyer and seller? 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? Lorem ipsum dolor sit amet, consecteticitur laoreet. What is the status of the contract between Sam and Mary? How can you prepare your sellers for receiving offers? A. He succeeds in setting up an appointment to meet with the caller. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. 8- Why should agent Grace give her client a Combined Hazards Book? 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? 4- What is the agreement that a broker can enter into with a buyer? D. The borrower gets a note in exchange for a mortgage. Bob writes the offer but is too embarrassed to submit it. Bill is purchasing a 6-family apartment building. C. When you have 200 names in your contact database. Make no recommendations and let the sellers decide on their own. D. There is a loan protection plan included with the loan. 47 of 50 Which of the following would not qualify as a 1031 exchange? 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. B. The adjusted cost basis of the first home was $140,000. A. 3 of 10 Jake has received two offers on one of his listings. What approach can their agent take to change the sellers perception of the offer? 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. 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket? 5 of 10 The principles of an agency relationship include all of these factors except which one? \text { Annual cost of quality training } & 456,000 \\ Write a contingent counteroffer. C. Can perform some real estate activities without a license. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? Present the higher-priced offer first. Rule F-1. 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? Last year, about 25% of his income came from sales commissions. Buyer Norm just signed a purchase contract with licensee Pat. What should Bob do? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? If the loan is for $68,000, what will Mark be assessed in points? 92- Which of the following situations is not exempt from the seller disclosure requirement? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 5- What does the safety clause in the listing agreement do? It can provide a steady stream of future clients. An apartment building for a vacant lot, B. What is the primary criticism that sellers have about their agents? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. C. The buyers and sellers agents will sign the escrow instructions. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. 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. 3. Answer: B- Encourage the buyer to get the attorney to review it quickly. B. A rental property has a return rate of 8%. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. C. Is subordinate to a first mortgage. 5 of 10 What would be the least effective way to get to know your buyers needs? B. 46 of 50 Greg grew up in and lives in a rural area. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? B. C. Clearly written contractor agreement must exist. A. Generates leads for new listings. B. D. Convince a seller to list with you. Two months later she purchased and moved into a new home that cost $145,000. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? D. Do not show the home between 10 a.m. and noon on Sundays. For purposes of federal income tax, which statement is true? chris kelly rock 92 net worth. B. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. B. Covers more than one piece of property. D. Hold both offers because he heard that a full-price offer is on its way. A. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. This broker is guilty of what prohibited activity? An assistant should never be left with the task of taking photos of a new listing. At the time the agent presents an offer. C. The loan term will extend gradually over time. B. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. What would you say about Sallys behavior? 1- What is goodwill as it relates to a business? How would you classify this essay (high or low comedy)? Tell the buyer to submit the offer first and then take a copy to the attorney to review. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. B. The broker will not provide any. A. D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. 12- What are grant programs typically used for? C. The fair market value at the time of sale Which of the following statements is true? C. Prepare additional documentation to take to the presentation. Bob Broker knows that another offer will be coming in at about the same time. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. D. Call the sellers immediately and let them know you wont be coming by. C. Discuss alternative properties that may be interest. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. Rule E-1 Donec aliquet. 12- What does TRID require of lenders? There are several steps in calculating the answer to this question. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. Hes no longer interested in seeing the inside and Marge agrees. Buyers looking at FSBO homes are usually looking for a bargain. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. of a train ride will leave the quantity demanded of train rides unchanged. Nam risus an, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. What kind of mortgage might they get? C. Discover why some homes havent sold. \text { Annual warranty cost } & 1,546,000 \\ Lorem ipsum dolor sit amet, consectetur adipiscing elit. sam neill laura tingle split 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? B. C. Be sure all requested inspections have been ordered. C. Real Estate Settlement and Procedures Act. B. 9 of 10 Which of the following statements is not true? The following table lists all costs of quality incurred by Sam's Surf Shop last year. 5- What is the Closing Disclosure? What is the result? When you meet with your sellers after you obtain the listing, what is one of the first things you should share with them to get them involved in the process? D. The interest payment is always smaller then the amount allocated to the principal. A broker may require licensees to carry high levels of automobile insurance. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. C. FSBO sellers who list with an agent will pay their own advertising costs. 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.. 6 of 11 Which of the following is not true about reverse annuity mortgages? C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. Virtual tours are a very expensive marketing tool to use. 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? 1 of 10 What kind of lease contains a recapture clause? Which of the following statements is not true? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 42- Alice is planning her career and setting her goals. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. 6 of 10 Which of these is an emotional reason that buyers buy property? C. Have keys made for company listings. Licensee Pat was in transit to the cooperating licensee's office with the offer. 3 of 10 How long must trust account records be kept? 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? A. C. It keeps your name in front of potential buyers and sellers. What kind of mortgage might they get? C. An assistant can keep track of the progress of activities during escrow. D. After the agent has had time to make copies at the office. D. Allows viewing access to strangers. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. 5 of 10 Which of the following is not a source of information for professional ethics codes? Sexta, 26 de novembro de 2021 . B. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price.