4 of 10 Which of the following would be the least desirable phone handling technique? 24 of 50 Tim thinks his buyers are ready to make an offer. Give housing choices to the widest range of people. Needs a license to perform activities that are not strictly administrative in nature. they are effectively terminating the original offer. 2 of 10 All of these statements are true except which one? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. D. The appraised value prior to sale C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. C. Allow indoor pets to leave their designated area. He says to them, "Would you prefer to take possession on September 1 or October 1?" The gross annual income, $7,200, divided by 8% (0.08), is $90,000. 30- Being prepared to handle incoming phone calls means all of the following except which? Here are the steps to follow to make an offer to purchase: Step 1. D. Ken and Sarah both must be at the office from 9 a.m. to 5 p.m. 35- Who benefits from Private Mortgage Insurance? Only needs to be done periodically. Gives the names of lawyers who might require property assistance. 4- Why is it important to talk to the sellers about the buyers? 2. D. Call the sellers immediately and let them know you wont be coming by. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? What kind of loan do they have? 3 of 10 Sara just bought her first new home. D. The monthly payments increase overtime. 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? C. Greg has violated the duty of confidentiality to Kim. 45- Kirk wants to get an FHA loan. A. 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? She should advise them to let the offer expire with no action so the buyers will get nervous. A buyer mails an offer to an out-of-town seller. 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? A. C. Tell them that this home is an exceptional buy and encourage them to look anyway. How are properties affected by the local economy? B. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. A. 4- Why is coordinating escrow so important and how can an assistant help? Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. 11- What is a public report and when must it be provided? D. The property is in a state fire responsibility area. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? Who is responsible for removing the lien to clear the title? A. Greg is violating the duties he owes to his new buyer. A. If you like, you can add a message to the seller. A. 46 of 50 Greg grew up in and lives in a rural area. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. Documents showing your affiliations with real estate organizations. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. 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. D. Arrange to meet the prospect at your office. 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? B. In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. 22- Jane sold her personal home for $148,000. A. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. How long does he have to file a complaint with the Department of Housing and Urban Development? I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. 28- Abby applies for a federally-related loan to purchase a home. Before completing the form, discuss the following important points with the home seller: Price. 74- Which statement is not true about an agency relationship? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. A. C. If Bill pays off the loan early, there will be no prepayment penalty. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. 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. However, he is objecting because the roof is 12 years old. Has New Age violated any laws? Mortgage bankers bring borrowers and lenders together. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? B. B. Rewrite whole paragraphs to ensure clarity. 100- What does the Real Estate Disclosure Law refer to? B. Person must be properly licensed. 10 of 10 Most sellers object to offers based on: 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? D. Allows a broker to have as a commission anything above the minimum the seller sets. Now, calculate how much you lost: $153,890 - $139,900 = $13,990. 65- Which of the following items is usually not prorated at closing? 1 of 10 Which of the following types of agency is not allowed in California? C. Recommend a counteroffer back to list price. Properties are very liquid and can move quickly. Answer: D- They are effectively terminating the original offer. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. 2- What exception exists to the duty of obedience when working with a client? Brenda refuses. Mary wants to make an offer on a house that is 25% lower than the asking price. D. The buyers love the landscaping improvements the sellers have made. 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 D. This action is deliberate misrepresentation. Seeking buyers for your listings B. 10 of 10 Which of the following is not a possible benefit of investing in real property? D. Gross income must be based on hours worked. B. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? 6- What is important for the sellers to know about a counteroffer? D. I will distribute 200 business cards every month for the next six months. 1.555.555.555 | frontier airlines crash history. Harry has some buyers that he believes are ready to make an offer. B. 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. D. The advertiser must prove he was grandfathered in as a licensee. Be open-minded. 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. 2. 10 of 10 All of the following are true statements about goals except which one? Studying population trends in the area. The purchase price, plus depreciation, B. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? D. Buyers of FSBO homes are usually the ones who save money. 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. When should the agent have disclosed this fact? 4 of 10 If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? Which of these expenses is not associated with owning a home? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 8 of 10 Which of these marketing tools is not considered a traditional tool? 104- Lorna and Hal have obtained a growing equity mortgage for their new home. 12- What does TRID require of lenders? Bob Broker represents Sam Seller. A. Forwarding calls from the public to one of the salespersons in the office. What kind of agreement is this? C. Is subordinate to a first mortgage. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. Give the deposit money to the seller. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? 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. 8 of 10 When is the first installment of property taxes due? 1- What is an important thing to remember about listing agreements? 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. A counteroffer by a seller to a buyer turns the seller from offeree to offeror. However, she believes the sellers will not be willing to accept the offering price. Give the prospects a black copy of a purchase agreement to look over. 2- What is floor time and why is it important? What property type will he be dealing with? Seller Stuart calls buyer Bruce, stating that he has changed his mind and now has no intention, under any circumstance, of coming to the closing table to complete the transaction set forth in their executed contract. C. Is permissible if being accepted on behalf of a third party. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. B. What kinds of insurance do brokers normally require of their employees? This action is legal but very unprofessional. 75- All but which of the following is NOT an AIDA feature? What kinds of things should he be looking for? A. Explain. 86- Which of the following is not considered a benefit of investing in real estate? Sam plans to overnight the acceptance on Monday. At the end of the term, the loan balance will be negative. D. Is permissible in amounts under $50. Who should Tommy recommend the owner consult with before making a decision? It became a contingent contract when Sam accepted Mary's offer. A. I will complete the GRI certification in the next four years. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? D. Ensure fair real estate negotiations. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. What should Bob do? 37- When dealing with the sale of a business, which is not a true statement? 5- When must a licensee provide an agency disclosure to a prospective client? The term of the loan can be shortened. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? What does the net operating income of a property represent? 8- What actions does a lender take to sell a mortgage in the secondary market? Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 57- Under federal income tax law, the basis for a personal residence is which of the following: Regulates reserve requirements for all institutions that offer checking accounts. Which of these ad headlines would probably be the least effective for this home? 5- If lenders intend to sell mortgages in the secondary market, what must they do? How does ALTA-R differ from ALTA? How to Write a Purchase Agreement? B. Answer: A- No, Bob Should have submitted the offer. B. The buyer must pay the broker a commission. D. Magazine ads are significantly more expensive than newspaper ads. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. This term typically refers to. Housing and Community Development Act. 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? Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. D. Do not show the home between 10 a.m. and noon on Sundays. : 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. 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? $90,000 B. I will do two practice listing presentations per week with an experienced agent for the next two months. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. D. Placing a classified ad in the weekend paper. 1- How much is the loan origination fee and what does it cover? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? B. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? fairbanks ice dogs standings . Preparation of an appraisal of the property, D. Help with required forms and disclosures. B. Try to get Sam to accept the offer. What should Tom do? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? The borrower makes payments of interest only over the term of the loan. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase C. Clearly written contractor agreement must exist. 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. 4- What items are not covered by any title insurance policy? He paid $100,000 for it, and made $300,000 worth of improvements. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. They will owe a balloon payment at the end of the loan term. 6 of 10 Who typically presents an offer to the sellers? A. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. 2- What types of office administration tasks are important for a licensed assistant to perform? What is the status of the contract between Sam and Mary? Which of the following is true, if you are licensed as a referral agent? Offer to mail the caller a set of fliers on interesting properties. C. Payments will not be enough to retire the loan. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. What is the market value of the property? D. All adjustable rate mortgages have negative amortization. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? Present the offer and tell the seller that the check needs to be held until June 30. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Ask the buyers to sign a real estate transfer disclosure statement. A. Be a deal maker. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Ashley should end this relationship by, : asking the seller to sign a mutual release. 18 of 50 The listing type that assures a broker that he or she will receive compensation no matter who procures the buyer is what kind of agreement? During a phone call, a salesperson discusses showing a property to a prospect. 12- What are grant programs typically used for? D. The owner has 45 days to file a change in ownership statement. 7- How can a builder help you generate leads? C. They can make payments directly to the original lender. Wait until next week to send an activity report, hoping things will pick up. B. 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? Her broker has asked her to be available for tasks in the field rather than in the office. What do many firms do to avoid confusion with their advertising plan? 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? B. Alice knows everything about the exclusive east side neighborhoods. 8- Why is it important to have a written prospecting plan? 3 of 10 Jake has received two offers on one of his listings. D. Understanding characteristics of the rental market. What is the primary criticism that sellers have about their agents? 6- List the steps of underwriting. C. Gather listing forms for her employer. Find things in the home a seller needs to repair. D. Hold both offers because he heard that a full-price offer is on its way. How long must a broker be licensed in order to apply for a temporary broker's license? Click the "Allow" button. 7. She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. A. Last year, about 25% of his income came from sales commissions. Who will pay the points? 4 of 10 Which of the following is NOT a condition of the safe harbor test? How to make a Best Offer. The date Abby receives the good faith estimate. C. The date the lender receives her application. 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? 3 of 10 How long must trust account records be kept? Lorem ipsum dolor sit amet, consectetur adipiscing elit. 1 of 10 All of the following are good approaches for handling objections except which? D. Similar expired listings that didnt sell. 5 of 10 All of these would be effective at capturing a readers attention except which? 5- What is the Closing Disclosure? A. cross elasticity of demand for train rides with respect to the price of a plane ride Which of the following would be the least likely place for them to obtain a loan? Mary learns that Sam is selling only half of the duplex. sam neill laura tingle split If the lot measures 100' x 200', which is the total allowable square footage of a single story building? 5- What actions can the sellers take regarding the purchase offer? Bill is purchasing a 6-family apartment building. Which statement is TRUE? 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? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. 33- Which statement is true about a loan that has a negative amortization? 1- What is a competitive market analysis? 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. C. It keeps your name in front of potential buyers and sellers. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings 1 of 10 Which Fair Housing Law added sex to the list of protected classes? 5 of 10 The principles of an agency relationship include all of these factors except which one? What kinds of things should you include in a weekly activity report? What would we call Hannah? The price of a plane ride rises by 10 percent. B. Ask the buyer if the buyer would like to make an offer taking the roof age into account. Answer: D- Return the money to buyer Norm. The original loan becomes subordinate to the wraparound. Pellentesque dapibus efficitur laoreet. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo Enter your offer. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. What should Tim do next? 3. 1- What is goodwill as it relates to a business? B. A. B. 8- What actions does a lender take to sell a mortgage in the secondary market? 4- What items are not covered by any title insurance policy? Encourage Sam to make a counteroffer at 2% below Sam's asking price. Buyer Norm called and rescinded the offer. The property is in an area that could flood. C. Participate in a tax shelter program. \hline C. The broker must conduct the escrow personally and not delegate any escrow activities. 1 of 10 What kind of lease contains a recapture clause? C. Identifies buyers for other properties. 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? 1 of 10 Gail is a licensed real estate assistant. 10 of 10 A competitive market analysis is an attempt to: A. 5 of 10 When all members have unlimited liability for debts and obligations of the group, the organization is a: 6 of 10 What is the foremost reason people invest in property? 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. 4- Why is coordinating escrow so important and how can an assistant help? A. A. Youll know how much house they can afford. 5- What does the safety clause in the listing agreement do? 84- Four years ago, Sam purchased a vacant lot for $10,000. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 8- Why should agent Grace give her client a Combined Hazards Book? A secondary bid for a property that is less than the first offer B. 6 of 10 Which of these is an emotional reason that buyers buy property? Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. 2 of 12 Which of the following statements is not true about the Federal Reserve? What law creates an automatic lien on a commercial property, subject to the listing agreement? D. The first and second mortgage will be rolled into one. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. 3 of 10 What kind of ad usually combines both institutional and product advertising? 3 of 10 A listing presentation can be compared to: 4 of 10 All of the following are benefits of listing with an agent except which? What percent of commission the licensees can charge. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. Possession date. There is a crack in the basement wall. B. 5- How do life insurance companies get involved in the investment market? 2- Name one advantage and one disadvantage of telephone contacts. A secondary bid for a property that is for more than the first offer A. C. Find a lender who is willing to do FHA loans. Licensee Pat was in transit to the cooperating licensee's office with the offer. A. B. Which of the following statements is not true? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 6- What does the security and insurance clause of the listing agreement address? Given the rise in the price of a plane ride, what percentage change in the price What will the new owners pay in property taxes? 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. B. She is probably using all but which of the following tools? D. There is a loan protection plan included with the loan. It helps to identify buyer and seller needs. 5 of 10 Which of these is not a true statement? What would you say about Sallys behavior? Deposit the check into his trust fund account on the next business day. What should Pat do with the earnest money deposit? Find solutions. B. Next, calculate the points charged; $168,500 x 0.02 = $3,370. To learn more about the real estate business, D. To make more money than a real estate agent. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. 14- Value includes which of the following aspects? Can be used in place of a verbal presentation. B. Broker Alice holds an uncashed check until the offer is accepted. Sending cards and newsletters is a good way to keep in contact with clients and prospects. A. What is meant by the term sphere of influence? 2- What kind of problem can result from a straight loan?

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