5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? Answer a question with a question when possible. A. Authors Channel Summit. The ordinance also requires a 10-foot side set back. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? During a phone call, a salesperson discusses showing a property to a prospect. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. He asks his real estate agent if she could tell him how to go about building a house on the land. Recommend a counteroffer back to list price. B. C. Give the tenant a 3-day notice to pay or quit. Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. 6- What is the main reason sellers choose to sell their property without an agents help? At the end of the term, the loan balance will be negative. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. C. Salespersons must perform all of their activities on behalf of their employing broker. A. A. A. 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? A. 2- What types of office administration tasks are important for a licensed assistant to perform? What will they have to pay the lender? The sellers want the earnest money check made payable to them instead. What will the new owners pay in property taxes? 2- When establishing rapport, whats one of the best ways to get to know your buyers? 6- Whats important to know about the Liquidated Damages paragraph? What California Fair Housing law has the manager violated? 4- Why is it important to talk to the sellers about the buyers? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. This broker is guilty of what prohibited activity? 4- Amanda calls broker Tim to schedule a showing of one of his listings. Answer: B- The contract is voidable due to mutual mistake. Which statement is true? Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. The seller accepts the offer by signing it, puts the accepted offer in an envelope addressed to the buyer, and places it in a U.S. mailbox. 2- What kind of problem can result from a straight loan? Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. The owner has 30 days to notify the county assessor. 19- Which of the following is not an advantage of hosting an open house? You bought if for the listing price plus 10% and sold it for the listing price. "No, you may lose the house." C. Date and attach supporting documents. 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. Brenda could be liable for a breach of the listing terms. buyer randy makes an offer to purchase. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. The other 75% came from an hourly wage paid by Tami. The borrower makes payments of interest only over the term of the loan. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. C. Supervises the Federal Housing Authority. C. Is permissible if being accepted on behalf of a third party. 8- What does the Water Heater Statement of Compliance address? Ask the caller if he or she would like to receive e-mails on newly listed properties. Explain the method used to write good advertising. 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. What is important to remember about capturing the readers attention? Find a home that meets FHA requirements. Possession date. buyer randy makes an offer to purchase. 5 of 10 RESPA applies to all of the following EXCEPT which? \text { Annual warranty cost } & 1,546,000 \\ Which of these actions might have caused their upset? 4- Explain the documentary transfer tax. 1. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. A. 100- What does the Real Estate Disclosure Law refer to? 1 of 10 All of the following are good approaches for handling objections except which? A. B. 4- Why is it important to talk to the sellers about the buyers? B. D. Exclusive-authorization-and-right-to-sell agreement. Mortgage bankers bring borrowers and lenders together. What should a licensees written employment agreement contain? D. Employee status versus independent contractor status is an IRS issue. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. A. She sold the property and several months later the buyer sued Pam for not disclosing the problem. A. buyer randy makes an offer to purchase. What kinds of insurance do brokers normally require of their employees? 10 of 10 All of the following are true statements about goals except which one? Retired persons are a good source of neighborhood information. D. Ensure fair real estate negotiations. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. 4- Describe how a property manager can receive his or her fees. Supervises the Truth in Lending Act. To learn more about the real estate business, D. To make more money than a real estate agent. This form is the first step in any real estate deal. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 8 of 10 Which statement is true about a real estate assistant? they are effectively terminating the original offer. : 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. B. Enumerate the homes special features and hope they change their minds. B. D. Amanda smiles at Jim when she sees the whirlpool tub. This is not true of which duty? Sharon and Steve have just taken a second mortgage on their home. What should Tom do? 5. 5. B. A. Greg is violating the duties he owes to his new buyer. C. The same amount will go towards the principal every month. Prices of properties currently on the market, C. Properties that were listed but did not sell. 21- Which form of advertising is considered the most cost-effective method for selling a home? What should Bob do? 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. A. 5- What actions can the sellers take regarding the purchase offer? buyer randy makes an offer to purchasei miss you text art copy and paste. D. Tim and Gail have qualified for an FHA loan. 8 of 10 Which of these is a free form of advertising? What is this agreement called? What should Tom do? residential transactions financed by federally related mortgage loans. A. 1 of 10 Which of these statements is not true? D. Hold it with the buyers permission until the contract is accepted. 59- Which of the following is a sellers request that an agent cannot honor? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? C. Discuss alternative properties that may be interest. A. 2- What is important to remember about multiple offers? \end{array} 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? Give an example of a specific short-term goal. The Reality of Purchase Offers . B. Rewrite whole paragraphs to ensure clarity. The gross annual income, $7,200, divided by 8% (0.08), is $90,000. Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings 1- How much is the loan origination fee and what does it cover? B. Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? C. The Bryants have not received any feedback from any showings in the past month. B. Only after receiving the tenants consent. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. Present the $200,000 first and recommend rejection. 4. 1.555.555.555 | frontier airlines crash history. If the loan value is 80%, and the property was appraised at $86,500 and sold for $88,000, how much would the purchaser be permitted to borrow? D. Exert pressure on the sellers to include something the other party wants. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Answer: D- Avoid telling him the price by setting up an immediate appointment. 69,200 Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 3- What signals do buyers use to indicate they may be willing to make a purchase? 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. A. C. Sharing all visitor comments two weeks before the listing ends. 4 of 10 All of these are true of prospecting except: A. A broker may require licensees to carry high levels of automobile insurance. She put 20% down and got a mortgage for the remainder. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. Before the sale can get finalized, the owner would require you to first meet certain conditions. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? The lender gives a mortgage to the borrower and gets funds in exchange. A. I will complete the GRI certification in the next four years. California: Real Estate Practice Ch9 Quiz with no answers. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? Which statement is TRUE? 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. Answer: B- Encourage the buyer to get the attorney to review it quickly. C. Neither Sarah nor Ken can get employer-provided health insurance. B. Housing and Community Development Act. 17 of 50 Kathy is a personal assistant at Action Realty. What would we call Hannah? B. cross elasticity of demand for train rides with respect to the price of a plane ride California: Real Estate Practice Ch10 Quiz with no answers. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 12. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 8- What do you call those items that have been incurred by the seller but not paid, and how will they be handled on the settlement statement? Present the offer and tell the seller that the check needs to be held until June 30. itur laoreet. What is the major difference between an employee and an independent contractor? 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? 5 of 50 Jane has been working with some buyers for several weeks. Allows quick repayment of the loan through accelerated payments. 41 of 50 What was the important ruling in Jones v. Mayer? 8- When does a purchase offer become a legal contract? 42 of 50 Alex makes an offer to purchase one of Bills listings. Which law extended discrimination to include handicap and familial status? 54- Jim and Jane are buying a home for $120,000. A. 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? 8 of 50 Buyer Kirk submits an offer to seller Larry. Entails entering into two agreements simultaneously. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? 4- Whats a bonus closing and whats important to keep in mind about this technique? California: Real Estate Practice Ch8 Quiz with no answers. 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? 3- What signals do buyers use to indicate they may be willing to make a purchase? 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? 5- What kind of newspaper ad could you place to solicit a listing? 1- When is an agency relationship created? 1- What is goodwill as it relates to a business? 3- When making your presentation, what topics should you cover? A basis of $148,000 and no taxable gain, B. 12- What does TRID require of lenders? B. (Who, Whom) has been selected as the team captain? D. Brenda has not violated any fiduciary duty. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 3 of 10 What kind of ad usually combines both institutional and product advertising? C. The broker must conduct the escrow personally and not delegate any escrow activities. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. Try to get Sam to accept the offer. He sounds really excited about this property. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? 5 of 10 Which of these statements is not true about qualifying buyers? 4- Amanda calls broker Tim to schedule a showing of one of his listings. 7 of 10 Which of the following is not a national real estate trade organization? A. There is a crack in the basement wall. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 5- When must a licensee provide an agency disclosure to a prospective client? The adjusted cost basis of the first home was $140,000. B. Jim Sharp is purchasing his fathers home. B. There is nothing that can offset this problem. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. C. If Bill pays off the loan early, there will be no prepayment penalty. C. Gather listing forms for her employer. Gross income must be based on production. Preparation of an appraisal of the property, D. Help with required forms and disclosures. 5- Your listing presentation manual should be made up of two sections that address what issues? 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. The price elasticity of demand for The borrower gives the lender a note and a mortgage in exchange for the funds. What approach can their agent take to change the sellers perception of the offer? 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. 5- Your listing presentation manual should be made up of two sections that address what issues? C. The air conditioner does not work. Deposit the check into his trust fund account on the next business day. 8 of 10 Which of the following circumstances would concern you about working for Broker John? 24 of 50 Tim thinks his buyers are ready to make an offer. Rule F-21 B. Alice knows everything about the exclusive east side neighborhoods. C. Mortgage bankers are a large source of residential loans in California. 2- What does Proposition 58 state? 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? D. Their loan payments will gradually increase. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? \hline \text { Annual inspection costs } & \$ 155,000 \\ A. A. 5 of 10 The principles of an agency relationship include all of these factors except which one? A. D. All repairs must be in compliance with existing building codes. 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? 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. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 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. 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? 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 person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? C. Clearly written contractor agreement must exist. Bob writes the offer but is too embarrassed to submit it. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. Prior to bringing an offer to purchase. 1- What are the three important considerations for a good property investment? 8- When does a purchase offer become a legal contract? Which is a true statement? If checked, the seller can complete repairs after closing. A. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 10- Which disclosures are NOT required to be made when selling residential property? B. Greg has put himself in a potential dual agency situation. B. Which of these ad headlines would probably be the least effective for this home? 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? 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? A. 8- Under what conditions may a landlord enter a tenants property? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? Pellentesque dapibus efficitur laoreet. Can be used in place of a verbal presentation. Allows the agent to determine community market trends. The interest rate will increase gradually over time. A. C. Write and sign commission checks to salespersons. 91- This paragraph of the purchase agreements informs the seller of the buyers right to inspect the property and can cancel or request maintenance based on findings. Which of the following statements is true? 41- Agricultural land includes all of the following EXCEPT which? What approach can Greg use to discourage the person from calling other agents? Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs Answer: C- Try to get Sam to accept the offer. 8 of 10 What does the paragraph on repairs state? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? Certain homeowners may qualify for a $10,000 exemption. The buyers family is pressuring them to purchase this home.

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