B. 46- A life insurance company would most likely invest in all but which of the following properties? Broker compensation to other brokers. 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? What should Tom do? 6 of 10 Who typically presents an offer to the sellers? 10. D. Tell the sellers its time to reevaluate the price. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. Underline the correct pronoun in parentheses in the following sentence. It took effect when Sam accepted Mary's offer. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? C. Moving closer to the agent to get a better look. 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. A. A. I will make two new contacts every day this week. The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. A. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? Referral fee to a homeowners insurance agent. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? D. All adjustable rate mortgages have negative amortization. The purchase price, plus depreciation Write a counteroffer. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. C. The buyers are interested in another property. A. C. Salespersons must perform all of their activities on behalf of their employing broker. \text { Annual rework cost } & 34,679 \\ California: Real Estate Practice Chapter 17 Quiz with no answers. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. 7- In the initial meetings with the prospects, the agent should do all of the following except which? What should Tom do? First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. Only after receiving the tenants consent. 4- Why is it important to talk to the sellers about the buyers? 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? Elaine parks across the street from the home and Mike is disappointed by what he sees. C. Insurance agents dealing with customers. The couple now has. C. Is subordinate to a first mortgage. B. 4. C. Neither Sarah nor Ken can get employer-provided health insurance. They were counting on a full-price offer and are very disappointed. B. If the lot measures 100' x 200', which is the total allowable square footage of a single story building? 07 Jun. Bob receives an offer from a buyer that is 12% below Sam's asking price. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . How would you classify this essay (high or low comedy)? A. B. 4- Amanda calls broker Tim to schedule a showing of one of his listings. 7- How can a builder help you generate leads? \hline The adjusted cost basis of the first home was $140,000. In the past year they have referred two dozen people who have purchased flooring from New Age. 1 of 10 What kind of lease contains a recapture clause? 8- What actions does a lender take to sell a mortgage in the secondary market? Needs a license to perform activities that are not strictly administrative in nature. 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. What do you need to remember about making phone calls to potential clients? What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? What would be a good approach for Pam to take? Sexta, 26 de novembro de 2021 . There are no offers on the property during the 6-month listing period and the listing expires. 3 of 10 Sara just bought her first new home. 63- Jennys home appraised for $550,000. At time of license renewal, what is the renewal charge for a salespersons license? A. 2. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? B. What property type will he be dealing with? 52- Which statement is true about a listing contract? B. I will practice my listing presentations. Sunday afternoon, Mary is driving around and finds a property she likes better. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. Please remove your shoes before entering the home. 4. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. 4- What is a good method for estimating what a seller will net from the sale of the property? D. Erics broker should appoint Eric as the designated agent in this transaction. B. One offer is for $208,000; the other is for $200,000. C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. Course Hero is not sponsored or endorsed by any college or university. 19- Which of the following is not an advantage of hosting an open house? D. Whether or not the licensees attend staff meetings. residential transactions financed by federally related mortgage loans. 1- What is goodwill as it relates to a business? 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. : The Commission could suspend or revoke Rob's license. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. What was Sam's appraisal cost for quality last year? B. 9 of 10 A shopping center would be primarily categorized as what type of property? D. Hold it with the buyers permission until the contract is accepted. D. The advertiser must prove he was grandfathered in as a licensee. How should Jan's licensee handle the offer? 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? Alex Jones owns a duplex and lives in one unit. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. 5 of 10 All of the following are valid listing agreements. D. Administers special assistance programs. A. What approach can their agent take to change the sellers perception of the offer? Mortgage brokers do not lend money. He refuses to rent the other unit to families with children. California: Real Estate Practice Ch11 Quiz with no answers. 10 of 10 Which proposition limited the maximum amount of tax on real property? Their interest rate will rise after the first few years. 3- What is the difference between CLTA and ALTA policies? Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? How are properties affected by the local economy? What should Bill do? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 12- What are grant programs typically used for? 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Answer: D- Return the money to buyer Norm. 7 of 10 How might probate information help in prospecting? A. What kinds of things should he be looking for? Mary wants to make an offer on a house that is 25% lower than the asking price. Whoever brings the buyer will get the commission. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? The definition of race was expanded to include ancestry. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? sam neill laura tingle split Deposit the check into his trust fund account on the next business day. 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 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? How long must a broker be licensed in order to apply for a temporary broker's license? The loan value is based on the appraised value, not the sale price. Prices of properties currently on the market, C. Properties that were listed but did not sell. What kinds of things should you include in a weekly activity report? C. Give the tenant a 3-day notice to pay or quit. : 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. 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. A. 3. they are effectively terminating the original offer. C. Greg has violated the duty of confidentiality to Kim. The buyers have been pre-qualified by a lender. Rule 21 1 of 10 Which of the following types of agency is not allowed in California? 77- Which of the following Internet pages might not be of particular interest to buyers? D. Placing a classified ad in the weekend paper. 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. What should Alice do? California: Real Estate Practice Ch8 Quiz with no answers. A. Forwarding calls from the public to one of the salespersons in the office. The owner has 30 days to notify the county assessor. D. Chris is a buyer's agent. 4- Describe a reverse annuity mortgage. 7 of 10 Which statement is not true about opening escrows? 2- What kind of problem can result from a straight loan? Go back to the buyer's agent and try to get the offer higher. \text { Annual warranty cost } & 1,546,000 \\ 7- Name three benefits of listing a home with an agent that you could share with sellers. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. A. D. Their loan payments will gradually increase. A. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? 6 of 10 How often can a tenant call his or her own professional to make repairs and then deduct the amount from the next months rent? 21- Which form of advertising is considered the most cost-effective method for selling a home? 8 of 10 When is the first installment of property taxes due? 6- According to California real estate law, how often must a broker balance his or her trust accounts? 10- What is the right to rescind and what is not covered by this rule? An assistant should never be left with the task of taking photos of a new listing. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 6- When is a lender required to terminate a borrowers private mortgage insurance? 7 of 10 Which document shows the assets and liabilities of a business? A. 6 of 10 Which of the following statements is not true? 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. 5. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. 106- If broker Tim advertises a property for sale that he doesnt intend to sell so that he can attract potential buyers, Tim is practicing: >Real Estate Practice Class Questions with no Answers for 1- When is an agency relationship created? A. They will owe a balloon payment at the end of the loan term. However, he is objecting because the roof is 12 years old. A. B. chris kelly rock 92 net worth. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? C. They can make payments directly to the original lender. In this scenario, which of the following is not true? 5- Your listing presentation manual should be made up of two sections that address what issues? Change the locks on the tenants apartment. 88- Sally and Dan must pay 2 points on their new $65,000 loan. Their first mortgage will get paid off immediately. 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? A. Wills weekly report indicates two showings and five inquiries for the week. 8- What does the Water Heater Statement of Compliance address? Negotiate agreements regarding commission structuring. 8- What actions does a lender take to sell a mortgage in the secondary market? Buys pools of mortgages in exchange for mortgage-backed securities. C. Classified ads placed on the property, D. Number of hits on the company website. A. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? Who makes the payments to a claimant from the Guaranty Fund? Find things in the home a seller needs to repair. Amanda loves the home and wants to make an offer. C. Recommend a counteroffer back to list price. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? D. Employee status versus independent contractor status is an IRS issue. Enter your offer. B. What are members of NAR required to do? D. Broker Gina puts $150 into her trust account. 3- Differentiate between mortgage brokers and mortgage bankers. Certain homeowners may qualify for a $10,000 exemption. A. Jim specializes in clients who want to buy restaurants. New Age purchased a new coffee maker the office was in need of. 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? A. Documents showing your affiliations with real estate organizations. B. buyer randy makes an offer to purchase. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). B. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 59- Which of the following is a sellers request that an agent cannot honor? 8 of 10 Which statement is true about a real estate assistant? 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? Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. 7- What is the difference between an FHA loan and a VA loan? This would be the maximum the purchaser would be permitted to borrow. Give as much detailed information about the property as you can. 10- Which disclosures are NOT required to be made when selling residential property? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Is generally viewed as unprofessional. Amanda loves the home and wants to make an offer. A. C. A broker is not responsible for the acts of independent contractors. The other 75% came from an hourly wage paid by Tami. 50- Harry has some buyers that he believes are ready to make an offer. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. 2 of 50 Residential property includes all of the following EXCEPT which? buyer randy makes an offer to purchase. 64- Which of the following is not a form of personal advertising? He just sold it for $13,000. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. C. The date the lender receives her application. 32 of 50 Alice is an employee of Mid-State Realty Services. 5 of 10 All of these would be effective at capturing a readers attention except which? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? B. 3- For whom do property tax exemptions exist and for how much? A. D. Meet with an inspector at a listing. Gives the names of lawyers who might require property assistance. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? What are some important tips for home tours? What must Tim do? 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Buyer Norm called and rescinded the offer. C. Knocking on doors never requires special permits. 4- Describe how a property manager can receive his or her fees. $90,000 44- Jim owns a gift shop in a commercial building. B. B. Buyer Jim asks if he can visit the property for a second time. B. 6. 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? C. Accept commissions from referral agents. Installation of central air conditioning, D. Addition of a tenant laundry facility. C. If Larry verbally accepted the offer, Kirk is bound by it. 43 of 50 Which one of these statements would not be considered a measurable goal? B. Greg has put himself in a potential dual agency situation. A. 3. castilian drive, los angeles. A. A. 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. 1- How much is the loan origination fee and what does it cover? Which of the following statements is not true? 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Select Review offer. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 81- Jake has decided to specialize in working with clients who purchase schools. 8 of 10 Which of these statements about counteroffers is not true? B. 2- List the three Institute of Real Estate Management property management designations. It never was effective since Sam had not notified Mary of the acceptance. Next, calculate the points charged; $168,500 x 0.02 = $3,370. 8. B. Alice knows everything about the exclusive east side neighborhoods. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? This form is the first step in any real estate deal. 5- If lenders intend to sell mortgages in the secondary market, what must they do? 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. What kind of agreement is this? C. Present Alexs offer first since it came in first. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? This broker is guilty of what prohibited activity? 1- What is a competitive market analysis? Present the higher-priced offer first. C. The Bryants have not received any feedback from any showings in the past month. B. D. Offer something valuable to the reader. Which statement is true? 41- Agricultural land includes all of the following EXCEPT which? Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. C. The buyers and sellers agents will sign the escrow instructions. A. 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. The Residential Environmental Hazards Guide, B. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? The purchase price, plus improvements, C. The fair market value at the time of sale. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Which of these expenses is not associated with owning a home? She tells them that this action could decrease their property values. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? A. buyer randy makes an offer to purchasei miss you text art copy and paste. What should Bob do? Receives special tax considerations. A. B. What should Bob advise Sam? 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. buyer randy makes an offer to purchase B. 78- Nancy bought her home last year for $425,000. C. Jim and Amanda whisper and frown when they see the basement. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? D. Will conducted an agent open house last week that was attended by 25 agents. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. Set up a face-to-face meeting with the sellers as soon as possible. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 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? of a train ride will leave the quantity demanded of train rides unchanged. 33- Which statement is true about a loan that has a negative amortization? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? What kind of listing agreement does Alice have with Jack? C. The air conditioner does not work. 42- Alice is planning her career and setting her goals. The Sam plans to overnight the acceptance on Monday. What does the net operating income of a property represent? whether the property's buildings encroach on neighboring land, A right that goes along with the ownership of real property is, Plants and trees cultivated for harvest best describes. Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. B. B. 11- What is a public report and when must it be provided? You had a 9% loss. 22- Jane sold her personal home for $148,000. Who is responsible for removing the lien to clear the title? C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? 3- How could refinancing be an investment benefit? Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. Start in the room with the best features. 2. When a home seller accepts a purchase offer, the seller is hoping the buyer will complete the transaction at the agreed-on price and believes there is nothing wrong with the condition of the home. Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. 1 of 10 Broker Alice has hired several independent contractors in her firm. 3- In what three ways can an assistant aid an agent with appointments? 2- What types of office administration tasks are important for a licensed assistant to perform? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. It is completed by an interested Buyer then presented to the Seller, stating the basic terms under which the Buyer is willing to purchase the property. 6- When is a lender required to terminate a borrowers private mortgage insurance? B. 7. The price of a plane ride rises by 10 percent. The offer with the highest price They called Wills office and told the secretary they are upset and need to speak with Will. 31- Patrick has a written independent contractor agreement with his broker Tami. the buyer is not allowed to make a counteroffer. B. Give $250 to the buyer and $250 to the seller. What percent of loss did you have? D. Exert pressure on the sellers to include something the other party wants. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. Which of the following would be considered an intermediate goal? 1 of 10 Which of these statements is not true? 1- What is escrow? A Bill of Sale gives title to the business equipment. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. B. C. Gather listing forms for her employer. Which is true? 55- Greg is approved for a Cal-Vet loan. The sellers want the earnest money check made payable to them instead. Broker Ashley has been working for a seller for the past seven months. There are several steps in calculating the answer to this question. D. Reduces the monthly payment for a borrower during the initial years. Person must be properly licensed. 12. Find a home that meets FHA requirements. Gross income must be based on production. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. It can provide a steady stream of future clients. 9% Given the rise in the price of a plane ride, what percentage change in the price 7- Agent Jim needs to do a visual inspection of his listing. five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 Senior housing for residents 62 or older, B. The second mortgage has now become the primary loan. 5- Define the term loan-to-value ratio. 2- What types of office administration tasks are important for a licensed assistant to perform? 8- What is the major difference between a CalVet loan and other loans? Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. Display lots of family photos to impress potential buyers. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. C. Is not necessary if the verbal presentation is strong. Decide which offer is best and present that one. D. The date Abby makes the request to receive the booklet. It is determined by who pays the compensation. The date Abby receives the good faith estimate.

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