Which of the following activities would she not be authorized to perform? If checked, the seller can complete repairs after closing. B. Ken must obtain his own training. A. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. 8- Why is it important to have a written prospecting plan? 44 of 50 Fair Housing laws are designed to: A. 8- Under what conditions may a landlord enter a tenants property? Checking your browser. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. A. Jim specializes in clients who want to buy restaurants. 14 of 50 The title report on a property shows there is a lien on the property. Broker John puts $500 into his trust account. 33- Which statement is true about a loan that has a negative amortization? 3 of 10 Which of the following would be an example of a licensee specializing in business type? C. Print postage labels from your computer. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. 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? C. Allow indoor pets to leave their designated area. How does ALTA-R differ from ALTA? Hometown received $2400.00 in referrals. D. Ensure fair real estate negotiations. What is important to remember about capturing the readers attention? 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. 4 of 11 Which of these is also called a contract for deed? 8 of 10 What does the paragraph on repairs state? New Age purchased a new coffee maker the office was in need of. Why is it important for licensees to understand the Americans with Disabilities Act? A. A. Retain the check for use with a future sales contract offer. D. Provides the names of individuals who may want to sell inherited property. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. 2- What is floor time and why is it important? Making a Best Offer | eBay B. The home is listed at $210,000. Answer: B- Encourage the buyer to get the attorney to review it quickly. 4. The other 75% came from an hourly wage paid by Tami. 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 4- What are the major areas of newspaper leads? 7- What makes up a mortgage? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. A. C. Classified ads placed on the property, D. Number of hits on the company website. 2- Describe an open listing. 2- Explain the difference between the primary and secondary mortgage markets. A. 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? 62- When agent Hal shows a home he should never: A. 53- Greg sold an apartment building he owned for 20 years. 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? 4 of 10 Which of the following would be the least desirable phone handling technique? Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. If the loan is for $68,000, what will Mark be assessed in points? 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? B. Lenders are in the best position to qualify buyers. B. FSBO sellers believe they will save money if they sell themselves. D. Offer something valuable to the reader. D. After the agent has had time to make copies at the office. Which statement is TRUE? The offer with the highest price Checking your browser. C. I will get three new listings this month. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? B. D. Avoid negative comments while hes inside the home. 6- List the steps of underwriting. B. B. 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? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? A. He refuses to rent the other unit to families with children. buyer randy makes an offer to purchase - nubblesitesolutions.com 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. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. Preparation of an appraisal of the property, D. Help with required forms and disclosures. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. It is determined by who pays the compensation. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. Deposit the check into his trust fund account on the next business day. Allows quick repayment of the loan through accelerated payments. A. The sales agent should: Write a counteroffer stipulating the sellers' request. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). 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. 44- Jim owns a gift shop in a commercial building. B. A. B. Suggest to the sellers that their listing price is too high. D. Preparing flyers and promotional materials for the brokers approval. buyer randy makes an offer to purchase - 740alvarado.com 95- Who is liable for the withholding on the sale of a property owned by a foreigner? D. Tim and Gail have qualified for an FHA loan. Needs a license to perform activities that are not strictly administrative in nature. If an item is already correct, write C on the line provided. 5- Your listing presentation manual should be made up of two sections that address what issues? D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. D. Visiting a neighborhood with a co-worker could make you feel more comfortable. A. 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? Installation of central air conditioning, D. Addition of a tenant laundry facility. 4- What is the agreement that a broker can enter into with a buyer? Which law extended discrimination to include handicap and familial status? 6- How does a limited partnership differ from a general partnership? On what amount will they pay capital gains tax? Given the rise in the price of a plane ride, what percentage change in the price Bob should not have presented the offer after the property was under contract to another buyer. 34 of 50 At a community meeting, Broker Amanda tells a group of families in an established neighborhood that several Indian families are planning to buy homes in their neighborhood. 100- What does the Real Estate Disclosure Law refer to? A. Entails entering into two agreements simultaneously. Will placed an ad in the most recent Home Buyers Guide. 4- What items are not covered by any title insurance policy? C. Moving closer to the agent to get a better look. Seller Stuart calls buyer Bruce, stating that he has changed his mind and now has no intention, under any circumstance, of coming to the closing table to complete the transaction set forth in their executed contract. 75- All but which of the following is NOT an AIDA feature? Is generally viewed as unprofessional. The term of the loan can be shortened. D. The date Abby makes the request to receive the booklet. 4- Agent Greg receives a call about one of his firms ads. 5- What does the safety clause in the listing agreement do? 3 of 10 Sara just bought her first new home. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. B. Rewrite whole paragraphs to ensure clarity. What kind of lease does Jim have? Possession date. 1 of 10 Gail is a licensed real estate assistant. 9. What approach can Greg use to discourage the person from calling other agents? D. Exert pressure on the sellers to include something the other party wants. C. Supervises the Federal Housing Authority. What will they have to pay the lender? D. The appraised value prior to sale What kind of loan do they have? Call Us Today! Have you been pre-qualified or pre-approved by a lender yet? 5 of 10 All of these would be effective at capturing a readers attention except which? The lender makes payments to the borrower. Their interest rate will rise after the first few years. The broker will not provide any. Her asking price was $560,000 and the property sold for $575,000. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. 16 juin 2022 why do babies clap their feet. A. \text { Annual cost of quality training } & 456,000 \\ B. Sandy and Bill are putting 30% down on their home purchase. 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? The agent should, Something of value given to another as an inducement for entering into a contract is termed, To emphasize the timely performance as an essential part of the contract, a contract would use the words. 7- What are the capital gains exclusions associated with the sale of a personal residence? A net listing is illegal in all states. A. Mike has changed jobs six times in the past six months. Which term is the process of joining several parcels of land into one larger parcel? It can provide a steady stream of future clients. At the time the agreement is signed. How can you prepare your sellers for receiving offers? The adjusted cost basis of the first home was $140,000. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. A broker may advertise that he or she is an escrow agent. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. buyer randy makes an offer to purchase. 5 of 10 When all members have unlimited liability for debts and obligations of the group, the organization is a: 6 of 10 What is the foremost reason people invest in property? 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. C. They can make payments directly to the original lender. During a phone call, a salesperson discusses showing a property to a prospect. 5 of 10 Mike bought his home last year for $150,000. 1- How much is the loan origination fee and what does it cover? C. Write and sign commission checks to salespersons. Which of the following statements is true? D. The casement windows have broken seals. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 1 of 10 Which of these statements is not true? 56- Which is not a true statement about the Agency Disclosure? 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. 7- Name three benefits of listing a home with an agent that you could share with sellers. Plastic dishes last a long time because they are unbreakable. 8- What is an important issue for potential buyer clients to understand? It became a contingent contract when Sam accepted Mary's offer. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. 2 of 10 A competitive market analysis contains information about all of the following items except which? They were counting on a full-price offer and are very disappointed. D. Hold both offers because he heard that a full-price offer is on its way. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. The date Abby receives the good faith estimate. A. 2. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate.
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