Authors Channel Summit. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. 7 of 10 Which statement is not true about opening escrows? 9. What is this called? What kind of listing agreement does Alice have with Jack? A. Answer: D- Avoid telling him the price by setting up an immediate appointment. Housing and Community Development Act. Sam accepts the offer and executes the contract on March 1, a Sunday. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 7- Name three benefits of listing a home with an agent that you could share with sellers. 5 of 10 What would be the least effective way to get to know your buyers needs? A. Jake is getting a VA loan with no down payment. A. C. Knocking on doors never requires special permits. She tells them that this action could decrease their property values. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. 1- What is a competitive market analysis? A. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). 44 of 50 Fair Housing laws are designed to: A. C. If Bill pays off the loan early, there will be no prepayment penalty. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 10- Which disclosures are NOT required to be made when selling residential property? He made $150,000 of improvements during the three years he lived in it before he sold it. A. B. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. The buyers family is pressuring them to purchase this home. B. Call Us Today! However, she believes the sellers will not be willing to accept the offering price. A. 5 of 50 Jane has been working with some buyers for several weeks. C. I will open my own office within nine years. His depreciation was $2,500 per year. 1. B. Documents showing your affiliations with real estate organizations. Rule E-1 5- How do life insurance companies get involved in the investment market? C. Participate in a tax shelter program. B. At the time the agreement is signed. What should Bob do? A. What is the key feature of this type of loan? 1 of 10 Which of these statements is not true? Give the sellers a copy of some homeowners tips. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. B. B. C. They can make payments directly to the original lender. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. \end{array} Ask the caller if he or she would like to receive e-mails on newly listed properties. 33 of 50 Sal bought a personal residence for $150,000. He paid $100,000 for it, and made $300,000 worth of improvements. A. A. 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. A. California: Real Estate Practice Ch10 Quiz with no answers. How to make a Best Offer. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 2- What is important to remember about multiple offers? 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. The following table lists all costs of quality incurred by Sam's Surf Shop last year. A buyer mails an offer to an out-of-town seller. Anasayfa; Hakkmzda. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. 1- What is an important thing to remember about listing agreements? D. Do not show the home between 10 a.m. and noon on Sundays. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. 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? Which term is the process of joining several parcels of land into one larger parcel? There are several steps in calculating the answer to this question. 1- What is escrow? Example 1. B. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. Which of the following statements is not true? If an item is already correct, write C on the line provided. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. B. Her broker has asked her to be available for tasks in the field rather than in the office. 2 of 50 Residential property includes all of the following EXCEPT which? 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? 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. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? A. : The Commission could suspend or revoke Rob's license. A. Eric can require that both the buyer and seller share equally in his commission. Hometown received $2400.00 in referrals. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. Where is it that he likely found out the property was for sale? Plastic dishes last a long time because they are unbreakable. D. All repairs must be in compliance with existing building codes. 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? 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. 7- Agent Jim needs to do a visual inspection of his listing. C. Once you set a goal you should never change it. They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. What is the major difference between an employee and an independent contractor? 7 of 10 Which disclosure form gives detailed information about the propertys condition? 51- Which statement is true about a homeowners exemption? Which statement is true? B. Select Review offer. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. D. She should persuade them to accept the offer. B. D. After the agent has had time to make copies at the office. What is meant by the term sphere of influence? To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. C. Be sure all requested inspections have been ordered. What approach can Greg use to discourage the person from calling other agents? 4- Whats a bonus closing and whats important to keep in mind about this technique? 8- What actions does a lender take to sell a mortgage in the secondary market? 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 5 of 10 Which of these statements is not true about qualifying buyers? 1 of 10 What kind of lease contains a recapture clause? 11 of 11 Which of the following is a low loan-to-value ratio? 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. He refuses to rent the other unit to families with children. 4. C. Use an attractive first-class stamp. 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? 105- Agent Alice has received an offer that she believes is not in the sellers best interest. 2 of 10 Which of these is not a good technique to get the name of a caller who is reluctant to give you that information? 2 of 12 Which of the following statements is not true about the Federal Reserve? 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? What kinds of things should he be looking for? 6- What is important for the sellers to know about a counteroffer? Please remove your shoes before entering the home. Be open-minded. A. 9 of 10 A shopping center would be primarily categorized as what type of property? 57- Under federal income tax law, the basis for a personal residence is which of the following: A. Which statement is true? B. C. Identifies buyers for other properties. B. Referral fee to a homeowners insurance agent. C. Payments will not be enough to retire the loan. 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. B. Its easier to prioritize your tasks if your goals are in writing. 1 of 10 Which of the following types of agency is not allowed in California? A. A. 4- Whats a bonus closing and whats important to keep in mind about this technique? What disclosure does the salesperson owe to the buyer and seller? 7- What is the difference between an FHA loan and a VA loan? A. If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. Two months later she purchased and moved into a new home that cost $145,000. 3 of 10 All of these items are important to include on your weekly activity report except which? 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? What are some important tips for home tours? Give a discount to families with children. The borrower gives the lender a note and a mortgage in exchange for the funds. Present the higher-priced offer first. Installation of central air conditioning, D. Addition of a tenant laundry facility. B. Pellentesque dapibus efficitur laoreet. The couple now has. There is a crack in the basement wall. 46- A life insurance company would most likely invest in all but which of the following properties? : 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. What should Tom do? B. 1- What is an important thing to remember about listing agreements? California: Real Estate Practice Chapter 18 Quiz with no answers. Which is a true statement? Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? 6- What is the ultimate result of using the Closing Disclosure form? chris kelly rock 92 net worth. 47 of 50 Which of the following would not qualify as a 1031 exchange? A. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? C. The home sits on an earthquake fault zone. B. Before completing the form, discuss the following important points with the home seller: Price. D. Arrange to meet the prospect at your office. 12- What are grant programs typically used for? The advertiser can be sentenced to up to a year in prison. 6- When is a lender required to terminate a borrowers private mortgage insurance? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? Donec aliquet. What should Jake do? 33- Which statement is true about a loan that has a negative amortization? Which statement is true? D. A basis of $140,000 and no taxable gain. Sunday afternoon, Mary is driving around and finds a property she likes better. Minimize expenses while maximizing profits for the owner. "What would you like to offer?" For purposes of federal income tax, which statement is true? B. Brenda has violated the fiduciary duty of obedience to Jim. What would we call Hannah? Jim and Jane financed the remaining $25,000 through the seller. B. 73- Which of these is not a buying signal? 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? 42- Alice is planning her career and setting her goals. 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? C. Consider child support payments in the decision. B. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. 5- When must a licensee provide an agency disclosure to a prospective client? Jim has decided to specialize in what area of real estate? B. 1- What is a competitive market analysis? Be a deal maker. 96- Which statement is not true about a listing contract? Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 10 of 50 There has been very little interest in the Bowers home this past week. What are members of NAR required to do? Go back to the buyer's agent and try to get the offer higher. 3. What should Tom do? 8- What actions does a lender take to sell a mortgage in the secondary market? Loan terms are from 15 to 25 years. C. Clearly written contractor agreement must exist. 36- Broker Eric secures a loan for buyer Paul. What is the body of law that governs negotiable instruments? Answer: D- Return the money to buyer Norm. Sam plans to overnight the acceptance on Monday. B. 9% What percent of commission the licensees can charge. Licensee Pat was in transit to the cooperating licensee's office with the offer. C. How much time the licensees must spend in the office. 4- What items are not covered by any title insurance policy? What law creates an automatic lien on a commercial property, subject to the listing agreement? 4. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 4- Agent Greg receives a call about one of his firms ads. The purchase price, plus depreciation, B. 84- Four years ago, Sam purchased a vacant lot for $10,000. 12- What are grant programs typically used for? Checking your browser. 16 juin 2022 why do babies clap their feet. What should a licensees written employment agreement contain? 6- What is the main reason sellers choose to sell their property without an agents help? 8- Why is it important to have a written prospecting plan? 7- How can a builder help you generate leads? A. Bob Broker represents Mary Buyer. 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? D. Buyer indemnity and seller protection. C. FSBO sellers who list with an agent will pay their own advertising costs. What would you say about Alexs actions? Underline each word that should be capitalized in the following items. An open listing is an exclusive contract. The loan will be distributed to them gradually. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. The other 75% came from an hourly wage paid by Tami. 4- Agent Greg receives a call about one of his firms ads. Set up a face-to-face meeting with the sellers as soon as possible. C. Shows property addresses that should be excluded from prospecting. To access the website, click "Allow". The sellers want the earnest money check made payable to them instead. 9 of 10 Which of these is not a helpful homeowner tip? A buyer wants to take the offer to an attorney to review it. Bob should not have presented the offer after the property was under contract to another buyer. A. buyer randy makes an offer to purchase. A. 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? If a seller is in a multiple offer situation, how do you determine the best offer? 5 of 10 Which of the following is not a source of information for professional ethics codes? Allows the agent to determine community market trends. A. D. Offer something valuable to the reader. 8 of 10 Which of these marketing tools is not considered a traditional tool? Sending cards and newsletters is a good way to keep in contact with clients and prospects. 4- How is property management seen as a risk to investing? Pellentesque dapibus efficitur laoreet. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? 1 of 10 Which figure represents the amount of income available as a return to an investor? The fees that Eric charges Paul for making the loan could be any but which of the following amounts? B. 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? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. The interest rate will increase gradually over time. A. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket?
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