4- Whats a bonus closing and whats important to keep in mind about this technique? Ashley should end this relationship by, : asking the seller to sign a mutual release. Bob Broker represents Mary Buyer. D. Understanding characteristics of the rental market. 7. lumberton man killed; guggenheim annuity rates. \text { Annual cost of quality training } & 456,000 \\ What should Jake do? A buyer applies for a loan that is neither insured nor guaranteed by a government agency. 2- Explain the difference between the primary and secondary mortgage markets. C. Eric may not represent the sellers interests to the detriment of the buyer. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? university of missouri hospital salaries 2021; port orange arrests today. 62- When agent Hal shows a home he should never: A. Jim and Jane financed the remaining $25,000 through the seller. 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. Authors Channel Summit. He says to them, "Would you prefer to take possession on September 1 or October 1?" whether the property's buildings encroach on neighboring land, A right that goes along with the ownership of real property is, Plants and trees cultivated for harvest best describes. D. Give the sellers the price over the phone so that they can think about it before you meet with them. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. 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. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? A. cross elasticity of demand for train rides with respect to the price of a plane ride At the time the agreement is signed. B. Its easier to prioritize your tasks if your goals are in writing. The broker will owe fiduciary responsibilities to the seller as well as the buyer. 6- Whats important to know about the Liquidated Damages paragraph? B. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. 2 of 12 Which of the following statements is not true about the Federal Reserve? B. California: Real Estate Practice Ch7 Quiz with no answers. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? What must Tim do? C. Can perform some real estate activities without a license. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. During a phone call, a salesperson discusses showing a property to a prospect. C. The buyers and sellers agents will sign the escrow instructions. 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. This is not true of which duty? 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. Senior housing for residents 62 or older, B. \end{array} 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? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. B. At the time the agent presents an offer. A. Forwarding calls from the public to one of the salespersons in the office. What is this agreement called? Give credit to all potential borrowers. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. B. During business hours and only after giving the tenant 24 hours notice. 4 of 10 All of these are true of prospecting except: A. Hometown received $2400.00 in referrals. A. 07 Jun. The loan will be distributed to them gradually. 46 of 50 Greg grew up in and lives in a rural area. D. Goals must be realistic if you hope to accomplish them. B. I will do two practice listing presentations per week with an experienced agent for the next two months. D. Exert pressure on the sellers to include something the other party wants. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. 7- What is the difference between an FHA loan and a VA loan? Sexta, 26 de novembro de 2021 . 7- Agent Jim needs to do a visual inspection of his listing. 4- Agent Greg receives a call about one of his firms ads. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. 32 of 50 Alice is an employee of Mid-State Realty Services. 33- Which statement is true about a loan that has a negative amortization? Entails entering into two agreements simultaneously. Allows quick repayment of the loan through accelerated payments. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? There are several successful agents at Johns office. A. C. Participation in the MLS increases a licensees inventory. 31- Patrick has a written independent contractor agreement with his broker Tami. A. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. A. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. A. D. Gross income must be based on hours worked. Establish a homes fair market value. What kind of listing agreement does Alice have with Jack? Give as much detailed information about the property as you can. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? 5. Find things in the home a seller needs to repair. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? 5 of 10 How many properties should be included for comparison in a competitive market analysis? What should Elaine do? 51- Which statement is true about a homeowners exemption? Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" A. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. Has New Age violated any laws? California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. D. The first and second mortgage will be rolled into one. Gross income must be based on production. C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 4 of 10 Which of these is not an important aspect of selling? Example 1. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 3- What signals do buyers use to indicate they may be willing to make a purchase? What would you say about Alexs actions? D. Meet with an inspector at a listing. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. If a seller is in a multiple offer situation, how do you determine the best offer? What is the primary criticism that sellers have about their agents? The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Answer: A- Proceed as if the buyer has decided to make an offer. $6,740 4- Amanda calls broker Tim to schedule a showing of one of his listings. 6- How does a limited partnership differ from a general partnership? What percent of commission the licensees can charge. 4- Whats a bonus closing and whats important to keep in mind about this technique? Click the "Allow" button. Bob Broker represents Sam Seller. A. Which statement is true? A. Ken is responsible for his own taxes, while the broker pays Sarahs. A. A. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. Donec aliquet. B. The seller must file a bill of sale with the county clerk. yellowbrick scholarship reviews. Lenders are in the best position to qualify buyers. 28- Abby applies for a federally-related loan to purchase a home. The purchase price, plus improvements, C. The fair market value at the time of sale. C. The fair market value at the time of sale Broker Ashley has been working for a seller for the past seven months. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. A. 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. What kind of closing technique is Jim using? C. An assistant can keep track of the progress of activities during escrow. 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? In addition to agent and MLS home tours, what are some other ancillary tools you can use? What is important to remember about capturing the readers attention? The lender gives a mortgage to the borrower and gets funds in exchange. \text { Annual testing cost } & 543,000 \\ A counteroffer represents a rejection of an offer. D. She should persuade them to accept the offer. 11- What are the penalties for violating Regulation Z? D. Broker Tom has only limited responsibility for the actions of his licensees. C. Is not necessary if the verbal presentation is strong. They will have a number of new expenses as a result of this purchase. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. He sounds really excited about this property. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? What should Bob do? D. The owner has 45 days to file a change in ownership statement. 2 of 10 All of these statements are true except which one? Tell the buyer about the other offer and urge the buyer to skip the attorney. 2- What is important to remember about multiple offers? His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? The adjusted cost basis of the first home was $140,000. C. There is a 6-month pre-payment penalty for paying off the loan early. A. A secondary bid for a property that is less than the first offer 4- Why is coordinating escrow so important and how can an assistant help? D. An exclusive listing must always be at least 30 days long. B. Tell the buyer to submit the offer first and then take a copy to the attorney to review. Fill out a separate, numbered counteroffer form. D. Amanda smiles at Jim when she sees the whirlpool tub. 1 of 10 Which figure represents the amount of income available as a return to an investor? 3 of 10 All of these items are important to include on your weekly activity report except which? 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? Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. At the end of the term, the loan balance will be negative. D. Have the prospects sign the disclosure about agency relationship. They will owe a balloon payment at the end of the loan term. California: Real Estate Practice Chapter 15 Quiz with no answers. B. buyer randy makes an offer to purchase. 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? What kind of mortgage are they looking for? 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? Underline each word that should be capitalized in the following items. 1- When is real property reassessed? 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. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. B. C. Supervises the Federal Housing Authority. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? A. B. C. Prepare additional documentation to take to the presentation. 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? Sam plans to overnight the acceptance on Monday. Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. B. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . B. 7 of 10 Which of the following is a possible benefit of investing in real property? C. Make up some statistics to share with the Bowers. One offer is for $208,000; the other is for $200,000. A. C. If Larry verbally accepted the offer, Kirk is bound by it. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? What should Bob do? 2- What types of office administration tasks are important for a licensed assistant to perform? What is the body of law that governs negotiable instruments? 8 of 10 Which statement is true about a real estate assistant? D. Employee status versus independent contractor status is an IRS issue. Amanda loves the home and wants to make an offer. 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? Skip the activity report for that week. 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. 6 of 50 Broker Tami has a very low advertising budget. An open listing is an exclusive contract. A. 13 of 50 What is the most common reason that owners try to sell their homes themselves? A. Generates leads for new listings. C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. It is determined by who pays the compensation. 55- Greg is approved for a Cal-Vet loan. How would Grants lease at this time be classified? What should a licensees written employment agreement contain? B. A. B. B. 5 of 10 Which of these statements is not true about qualifying buyers? D. Allows viewing access to strangers. 8- What does the Water Heater Statement of Compliance address? It must be in writing to be enforceable. C. Exclusive-authorization-and-right-to-sell. 6- Whats important to know about the Liquidated Damages paragraph? A. Is depreciation accounted for by a hospital? B. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? 7- How can a builder help you generate leads? 10 of 10 Which of these is not an exemption to fair housing law? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? 6. 4- Agent Greg receives a call about one of his firms ads. C. If Bill pays off the loan early, there will be no prepayment penalty. A. B. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). 5- What kind of newspaper ad could you place to solicit a listing? C. Real Estate Settlement and Procedures Act. Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. A. Greg is violating the duties he owes to his new buyer. Why or why not? C. Explain your marketing plan to the sellers. 33 of 50 Sal bought a personal residence for $150,000. B. Newsletters can be a very effective advertising forum for niche marketers. A broker may advertise that he or she is an escrow agent. 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office.

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