D. Allows a broker to have as a commission anything above the minimum the seller sets. Mary makes an offer to purchase a duplex from Sam. 10- What is the right to rescind and what is not covered by this rule? Why or why not? What is the body of law that governs negotiable instruments? A secondary bid for a property that the seller will accept if the first offer fails B. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). Two months later she purchased and moved into a new home that cost $145,000. Which is a true statement? What should Elaine do? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? B. Jim Sharp is purchasing his fathers home. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 6 of 11 Which of the following is not true about reverse annuity mortgages? 1- What is important to know about unlicensed real estate assistants? B. Its a good idea for brokers to carry workers compensation coverage. Which of the following conditions is Paul not required to report on this form? 4- Amanda calls broker Tim to schedule a showing of one of his listings. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 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? by | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 C. Mortgage bankers are a large source of residential loans in California. A. Ordinary china is very fragile. The second mortgage has now become the primary loan. 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? Answer a question with a question when possible. 7- Name three benefits of listing a home with an agent that you could share with sellers. 12- What are grant programs typically used for? What percent of loss did you have? B. 2- List the three Institute of Real Estate Management property management designations. A. She is probably using all but which of the following tools? On what amount will he pay capital gains tax? Each of their payments is for the same amount. C. It must specify a definite termination date. B. Brenda has violated the fiduciary duty of obedience to Jim. D. The borrower gets a note in exchange for a mortgage. An assistant should never be left with the task of taking photos of a new listing. What economic factors affect the real estate market as well as other goods and services? This form is the first step in any real estate deal. B. The following table lists all costs of quality incurred by Sam's Surf Shop last year. For what type of loan is the borrower applying? 2 of 10 A competitive market analysis contains information about all of the following items except which? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? B. Greg has put himself in a potential dual agency situation. A. Youll know how much house they can afford. Pellentesque dapibus efficitur laoreet. 64- Which of the following is not a form of personal advertising? C. The owner has 45 days to pay the new property taxes. The home is listed at $210,000. He pays rent for occupancy, plus maintenance and operating expenses. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? Step 2. B. What should you keep in mind when developing your marketing plans? A. 4- What items are not covered by any title insurance policy? To access the website, click "Allow". A. Sets a limit on the commission a broker can earn. B. A. D. Is best left to experienced brokers. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 1- What is an important thing to remember about listing agreements? What should Tom do? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? C. Ask the caller when not if he or she wants to see the property. B. The offer with the highest price 4- Whats a bonus closing and whats important to keep in mind about this technique? Ask questions of the prospects children. Name and define the two forms of advertising. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. What should Bob do? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. Nam risus ante, dapibus a molestie consequat, ultrices ac magn, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. New Age purchased a new coffee maker the office was in need of. A. Who should Tommy recommend the owner consult with before making a decision? What will they have to pay at closing for the points? 7 of 10 Which disclosure form gives detailed information about the propertys condition? What kind of mortgage might they get? Not waste anymore time on this house, the buyer will never make an offer. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. D. Supply cannot be moved to a high demand area. 7 of 50 Glenna and Amanda just bought their first home. D. Meet with the buyers lender to ensure theyre getting a good deal. 10 of 10 Which proposition limited the maximum amount of tax on real property? A basis of $148,000 and no taxable gain, B. Which statement is true ? If the lot measures 100' x 200', which is the total allowable square footage of a single story building? D. Brenda has not violated any fiduciary duty. In addition to agent and MLS home tours, what are some other ancillary tools you can use? 1- What is escrow? 104- Lorna and Hal have obtained a growing equity mortgage for their new home. Broker Ashley has been working for a seller for the past seven months. How to Write a Purchase Agreement? Receives special tax considerations. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. A Bill of Sale gives title to the business equipment. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? 3 of 10 What kind of ad usually combines both institutional and product advertising? California: Real Estate Practice Chapter 15 Quiz with no answers. The sellers want the earnest money check made payable to them instead. 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? What will they have to pay the lender? B. 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. The advertiser can be sentenced to up to a year in prison. 80- Which of the following is an example of commingling? 7. D. Interest rates are typically fixed rate. 8- Why is it important to have a written prospecting plan? A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. The owner has 30 days to notify the county assessor. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 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. Pellentesque dapibus efficitur laoreet. D. Property evaluations from other agents have valuable information for sellers. C. Bake muffins or cinnamon rolls to create a homey feel. 14- Value includes which of the following aspects? D. Make the headline bold and all caps. D. Call the sellers immediately and let them know you wont be coming by. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. California: Real Estate Practice Chapter 13 Quiz with no answers. C. It keeps your name in front of potential buyers and sellers. buyer randy makes an offer to purchasei miss you text art copy and paste. A. 9 of 10 Which of the following statements is not true? Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 11- What is a public report and when must it be provided? 1- What is a competitive market analysis? It took effect when Sam accepted Mary's offer. 10. 3. 8 of 12 Fannie Mae does all of the following activities except which? Ask the buyer if the buyer would like to make an offer taking the roof age into account. The seller must file a bill of sale with the county clerk. 4. They will have a number of new expenses as a result of this purchase. 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? 6 of 50 Broker Tami has a very low advertising budget. C. Make up some statistics to share with the Bowers. D. Make sure all light bulbs and lamps are working and are bright. California: Real Estate Practice Chapter 16 Quiz with no answers, 1 of 10 According to FIRPTA, what percent would a buyer who is buying the property as a personal residence need to withhold when purchasing a $200,000 home from a foreigner?. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? Fill out a separate, numbered counteroffer form. 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? Gross income must be based on production. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. The offer with the highest price that is the most likely to close Loan terms are from 15 to 25 years. A. 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. C. The fair market value at the time of sale What should Tom do? 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? 2- Explain the difference between the primary and secondary mortgage markets. 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. A. 7 of 10 Which of the following is not a national real estate trade organization? A. Allows quick repayment of the loan through accelerated payments. Try to get Sam to accept the offer. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. 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? 5- What actions can the sellers take regarding the purchase offer? They made $50,000 of improvements. 2- When establishing rapport, whats one of the best ways to get to know your buyers? 63- Jennys home appraised for $550,000. Explain. A. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 6- List the steps of underwriting. 1 of 10 What kind of lease contains a recapture clause? Write a contingent counteroffer. The check that accompanies the salesperson license application must be for what amount? Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. 3- When making your presentation, what topics should you cover? Mary makes an offer to purchase a duplex from Sam. C. FSBO sellers who list with an agent will pay their own advertising costs. Give the prospects a black copy of a purchase agreement to look over. Find solutions. B. The escrow holder will need information about the brokers commission. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? B. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} Retired persons are a good source of neighborhood information. A. Mike has changed jobs six times in the past six months. 5 of 10 How many properties should be included for comparison in a competitive market analysis? A. C. Exclusive-authorization-and-right-to-sell agreement. D. Placing a classified ad in the weekend paper. C. Insurance agents dealing with customers. C. Neither Sarah nor Ken can get employer-provided health insurance. 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Sharon and Steve have just taken a second mortgage on their home. 10- Which disclosures are NOT required to be made when selling residential property? 7- Agent Jim needs to do a visual inspection of his listing. B. B. A. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. C. An assistant can keep track of the progress of activities during escrow. B. Suggest to the sellers that their listing price is too high. How would you classify this essay (high or low comedy)? D. The property is in a state fire responsibility area. 9- What required disclosure is a result of Megans Law? B. Before the sale can get finalized, the owner would require you to first meet certain conditions. 1- How much is the loan origination fee and what does it cover? A. \text { Annual cost of scrap materials } & 286,000 \\ What disclosure does the salesperson owe to the buyer and seller? C. Regulating reserves of institutions with savings accounts only. What is this agreement called? B. 4- Agent Greg receives a call about one of his firms ads. 3- What signals do buyers use to indicate they may be willing to make a purchase? What kinds of things should you include in a weekly activity report? A. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? C. They can make payments directly to the original lender. Underline each word that should be capitalized in the following items. 21- Which form of advertising is considered the most cost-effective method for selling a home? Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. C. Payments will not be enough to retire the loan. 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?

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