A. Who makes the payments to a claimant from the Guaranty Fund? A. Tell the buyer about the other offer and urge the buyer to skip the attorney. What kinds of insurance do brokers normally require of their employees? Establish a homes fair market value. D. Is best left to experienced brokers. B. What should Jake do? D. Lends good visual support to what the agent is saying. 4- What is a good method for estimating what a seller will net from the sale of the property? 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? Is depreciation accounted for by a hospital? A. 46- A life insurance company would most likely invest in all but which of the following properties? 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 3. 55- Greg is approved for a Cal-Vet loan. D. The buyers love the landscaping improvements the sellers have made. An Offer to Purchase REval Estate (the "Offer") is a document that sets out the basic proposed terms and conditions between the Buyer and the Seller in a rEval estate transaction. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. An assistant should never be left with the task of taking photos of a new listing. C. Make up some statistics to share with the Bowers. B. Pellentesque dapibus efficitur laoreet. C. Give the tenant a 3-day notice to pay or quit. Before the sale can get finalized, the owner would require you to first meet certain conditions. 9 of 50 Which of the following is a credit to the seller on the settlement statement? Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. Has New Age violated any laws? The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. D. Their loan payments will gradually increase. B. A. Brenda must follow all of Jims instructions. Broker compensation to other brokers. A basis of $148,000 and no taxable gain, B. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Why is it important for licensees to understand the Americans with Disabilities Act? 2 of 10 Which lender typically deals in interim financing? 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? Answer: B- Encourage the buyer to get the attorney to review it quickly. Underline the correct pronoun in parentheses in the following sentence. He must withdraw his representation of one of the parties. What should you keep in mind when developing your marketing plans? Seeking buyers for your listings B. The lender gives a mortgage to the borrower and gets funds in exchange. 8- What is the major difference between a CalVet loan and other loans? He just sold it for $13,000. 8- Under what conditions may a landlord enter a tenants property? The loan will be distributed to them gradually. 76- Mark believes he has been discriminated against during his home search. 7- What is the difference between an FHA loan and a VA loan? Deposit the check into his trust fund account on the next business day. The other 75% came from an hourly wage paid by Tami. 100- What does the Real Estate Disclosure Law refer to? Retired persons are a good source of neighborhood information. C. Is permissible if being accepted on behalf of a third party. A. Then present the $208,000 offer. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? 5- When must a licensee provide an agency disclosure to a prospective client? B. 12- What are grant programs typically used for? 7- What does the net operating income of a property represent? During this interim period, grant makes monthly rent payments and the owner accepts them. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? D. Whether or not the licensees attend staff meetings. 4- What is the agreement that a broker can enter into with a buyer? C. Have keys made for company listings. A. 3- When making your presentation, what topics should you cover? Example 1. 10 of 10 Which of the following is not a possible benefit of investing in real property? 7. B. 1. A. Ken is responsible for his own taxes, while the broker pays Sarahs. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? 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. 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? 8 of 10 When is the first installment of property taxes due? Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz A. A. Bob writes the offer but is too embarrassed to submit it. B. Which of these ad headlines would probably be the least effective for this home? During a phone call, a salesperson discusses showing a property to a prospect. 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? Give $250 to the buyer and $250 to the seller. 2. D. All repairs must be in compliance with existing building codes. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Elaine parks across the street from the home and Mike is disappointed by what he sees. Return the earnest money to buyer Norm. A. Gross income must be based on production. 7- Agent Jim needs to do a visual inspection of his listing. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? In the past year they have referred two dozen people who have purchased flooring from New Age. 71- When agent Jane meets with her sellers to offer suggestions, she most likely would not give them: 72- According to RESPA, a buyer or seller cannot legally be charged at closing for which of the following items? 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? 6 of 10 Which of the following statements is not true? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 3 of 10 All of these items are important to include on your weekly activity report except which? Could be a violation of state licensing laws. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? A. It was terminated when Mary delivered the recission to Sam. 9 of 10 Which of these is not a helpful homeowner tip? B. Ask the buyer if the buyer would like to make an offer taking the roof age into account. 4- What are the major areas of newspaper leads? D. The owner has 45 days to file a change in ownership statement. 2- What is floor time and why is it important? B. Enumerate the homes special features and hope they change their minds. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 14 of 50 The title report on a property shows there is a lien on the property. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. 3 of 10 How long must trust account records be kept? B. C. Explain your marketing plan to the sellers. 6 of 10 Which of the following is not a true statement? B. Launch into your list of the homes special features and hope she changes her mind. 8- What actions does a lender take to sell a mortgage in the secondary market? B. Its easier to prioritize your tasks if your goals are in writing. Course Hero is not sponsored or endorsed by any college or university. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. 1- How much is the loan origination fee and what does it cover? What should Tim do next? It can provide a steady stream of future clients. This form is the first step in any real estate deal. D. Must start out as a part-time employee. 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? C. Gather listing forms for her employer. California: Real Estate Practice Ch9 Quiz with no answers. What approach can their agent take to change the sellers perception of the offer? Which of the following is Kirk himself not likely to do during the application process? 3- Differentiate between mortgage brokers and mortgage bankers. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. B. Courtesy of RealtyPact. D. Meet with an inspector at a listing. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? Decide which offer is best and present that one. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? Code Violations and Tax Delinquencies. From whom may a salesperson receive compensation for performed activities? 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? Ashley should end this relationship by, : asking the seller to sign a mutual release. Will placed an ad in the most recent Home Buyers Guide. Have you been pre-qualified or pre-approved by a lender yet? 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? C. FSBO sellers who list with an agent will pay their own advertising costs. The loan value is based on the appraised value, not the sale price. C. Johns office has a selection of books, CDs and tapes for agent use. 8. B. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? A. A. The property is in an area that could flood. (Who, Whom) has been selected as the team captain? Instead, Bob terminates the relationship with Mary. "No, you may lose the house." What should agent Phil do? 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? yellowbrick scholarship reviews. 2- What kind of problem can result from a straight loan? C. The lender gives the borrower a mortgage and funds. B. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 41- Agricultural land includes all of the following EXCEPT which? D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 16 juin 2022 why do babies clap their feet. Encourage Sam to make a counteroffer at 2% below Sam's asking price. B. Which area of specialization would she fall into? List the details of all parties involved. B. Pleases the sellers by inv=creasing activity. You can use a reverse telephone directory to get the names of residents. Housing and Community Development Act. Bob receives an offer from a buyer that is 12% below Sam's asking price. A. 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 5 of 50 Jane has been working with some buyers for several weeks. C. Present Alexs offer first since it came in first. 6- What is important for the sellers to know about a counteroffer? 9 of 10 A shopping center would be primarily categorized as what type of property? Covers more than one piece of property. What kind of closing technique is Harry using? 3- For whom do property tax exemptions exist and for how much? A counteroffer represents a rejection of an offer. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. D. Similar expired listings that didnt sell. It is determined by who pays the compensation. 2- Explain the difference between the primary and secondary mortgage markets. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. C. When you have 200 names in your contact database. 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. 11- What is a public report and when must it be provided? She is probably using all but which of the following tools? A. John offers weekly training seminars. Sam accepts the offer and executes the contract on March 1, a Sunday. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? B. 1 of 10 All of the following are good approaches for handling objections except which? \text { Annual cost of quality training } & 456,000 \\ Tom violated the law by not providing notice of information that would affect Fred, When a broker received an unexpected bill, he deposited a client's earnest money check into his personal account to cover the expense. 1- What is goodwill as it relates to a business? 7 of 10 Which of the following is a possible benefit of investing in real property? 8 of 10 Which of these statements about counteroffers is not true? A. Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. 9 of 10 Which of the following statements is not true? A. cross elasticity of demand for train rides with respect to the price of a plane ride C. Eric may not represent the sellers interests to the detriment of the buyer. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. B. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. Who is responsible for removing the lien to clear the title? 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? 1- What are the five aspects that are involved in any selling approach? 8- Why is it important to have a written prospecting plan? 7 of 10 Which of the following is not a national real estate trade organization? Give a discount to families with children. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. 6 of 10 Which of these is an emotional reason that buyers buy property? 5- What is the Closing Disclosure? Buyers looking at FSBO homes are usually looking for a bargain. D. Hold both offers because he heard that a full-price offer is on its way. 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? 5- Your listing presentation manual should be made up of two sections that address what issues? 4. Anasayfa; Hakkmzda. 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. B. Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. 4- Whats a bonus closing and whats important to keep in mind about this technique? Negotiate agreements regarding commission structuring. A. A. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. Answer: C- Try to get Sam to accept the offer. 33- Which statement is true about a loan that has a negative amortization? 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. Her asking price was $560,000 and the property sold for $575,000. This action is legal but very unprofessional. A. Lead-based paint was used in the home. Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings Donec aliquet. D. Buyer indemnity and seller protection. He succeeds in setting up an appointment to meet with the caller. This broker is guilty of what prohibited activity? \end{array} B. Checking your browser. B. 2 of 10 Which of these statements is true? 11. university of missouri hospital salaries 2021; port orange arrests today. 5- Define the term loan-to-value ratio. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. B. C. Allow indoor pets to leave their designated area. Documents showing your affiliations with real estate organizations. Make sure all required disclosures have been done. Has Bob acted properly? 37 of 50 Which of the following economic characteristics is true? How are properties affected by the local economy? A. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. 8 of 10 What does the paragraph on repairs state? C. I will get three new listings this month. If the loan is for $68,000, what will Mark be assessed in points? The owner has 30 days to notify the county assessor. What kinds of things should you include in a weekly activity report? 8 of 12 Fannie Mae does all of the following activities except which? C. Can perform some real estate activities without a license. an opinion of value for the day of the appraisal only. C. Neither Sarah nor Ken can get employer-provided health insurance. What property type will he be dealing with? 2- Who needs title insurance and why? D. Goals must be realistic if you hope to accomplish them. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} C. Bake muffins or cinnamon rolls to create a homey feel. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? Studying population trends in the area. There is a crack in the basement wall. What is the market value of the property? Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. 7 of 10 Most buyers who see a newspaper ad that interests them: 8 of 10 Which of the following is not an advantage of home ownership? 2- When establishing rapport, whats one of the best ways to get to know your buyers? Referral fee to a homeowners insurance agent. Discourage Sam from accepting an offer so far below Sam's asking price. C. Brenda could be liable for a breach of the listing terms. A. What do you need to remember about making phone calls to potential clients? A buyer mails an offer to an out-of-town seller. 2. 5- What actions can the sellers take regarding the purchase offer? Rule F-21 11- What are the penalties for violating Regulation Z? 5. Whoever brings the buyer will get the commission. C. Is subordinate to a first mortgage. 9 of 12 When a lender is evaluating a buyers ability to repay a loan, the lender looks at all of these items except which one? A. 1. 1- When is an agency relationship created? The couple now has. Gives the names of lawyers who might require property assistance. Maximize the return to the property management firm. B. He succeeds in setting up an appointment to meet with the caller. B. Present the offer and tell the seller that the check needs to be held until June 30. Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. 4 of 10 All of these are true of prospecting except: A. On what amount will they pay capital gains tax? 5 of 10 Alice has decided that she will specialize in selling farm land. Nam lacinia pulvinar tortor nec facilisis. California: Real Estate Practice Ch10 Quiz with no answers. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? How much did Sam gain or lose on the sale? 96- Which statement is not true about a listing contract? 69,200 81- Jake has decided to specialize in working with clients who purchase schools. A. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. 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? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? 8 of 10 Which of these is a free form of advertising? D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. A. You can make a Best Offer on listings that have a Make Offer button. 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. A. A. A secondary bid for a property that is less than the first offer B. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? B. B. Pam is not liable since it was summer and the heating problem was not obvious. Find solutions. Randy gives Tom an earnest money check f Randy gives Tom an earnest money check f Q: according to the law governing mortgage loan brokers what is the maximum commission Broker Dan can charge for securing a 57- Under federal income tax law, the basis for a personal residence is which of the following: A. B. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements?

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