C. Is permissible if being accepted on behalf of a third party. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. B. Its a good idea for brokers to carry workers compensation coverage. Sending cards and newsletters is a good way to keep in contact with clients and prospects. C. Clearly written contractor agreement must exist. There are several steps in calculating the answer to this question. 2- What types of office administration tasks are important for a licensed assistant to perform? 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? 3- What is the difference between CLTA and ALTA policies? 8- Why is it important to have a written prospecting plan? C. An assistant can keep track of the progress of activities during escrow. Have you been pre-qualified or pre-approved by a lender yet? California: Real Estate Practice Chapter 14 Quiz with no answers. C. Sharing all visitor comments two weeks before the listing ends. 2- Name one advantage and one disadvantage of telephone contacts. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 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? C. Gather listing forms for her employer. What approach can their agent take to change the sellers perception of the offer? How does ALTA-R differ from ALTA? C. Deposit into the brokerage business account. Amanda loves the home and wants to make an offer. 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? D. Call the sellers immediately and let them know you wont be coming by. B. Ask the caller if he or she would like to receive e-mails on newly listed properties. C. Discover why some homes havent sold. $90,000 Minimize expenses while maximizing profits for the owner. Entails entering into two agreements simultaneously. What would you say about Alexs actions? Gross income must be based on production. 29 of 50 What is one way the Federal Reserve System regulates the money supply? 8- What does the Water Heater Statement of Compliance address? What should Bob do? A. 25- According to the law governing mortgage loan brokers, what is the maximum commission Broker Claire can charge for securing a $50,000 first mortgage for a period of 2 years? Which of the following items can Matt not add to the original cost when doing the computation? 1 of 10 What kind of lease contains a recapture clause? D. In most situations, an assistant should not have the responsibility of in-person contact with clients. Housing and Community Development Act. 3- For whom do property tax exemptions exist and for how much? 1- What are the three important considerations for a good property investment? New Age purchased a new coffee maker the office was in need of. In the past year they have referred two dozen people who have purchased flooring from New Age. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. What approach can their agent take to change the sellers perception of the offer? 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? C. Participate in a tax shelter program. 3. B. D. Gross income must be based on hours worked. 10 of 10 Which of these is not an exemption to fair housing law? Ask questions of the prospects children. C. Accept commissions from referral agents. D. Their lender can profit from the difference in interest rates. B. Pam is not liable since it was summer and the heating problem was not obvious. C. The fair market value at the time of sale 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. There are no offers on the property during the 6-month listing period and the listing expires. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. A. Generates leads for new listings. 2 of 10 Which lender typically deals in interim financing? Which statement is TRUE? Before the sale can get finalized, the owner would require you to first meet certain conditions. 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? AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. 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. B. C. The seller can do all repairs himself. 17 of 50 Kathy is a personal assistant at Action Realty. When should the agent have disclosed this fact? B. : The Commission could suspend or revoke Rob's license. D. Exclusive-authorization-and-right-to-sell agreement. 6- What does the security and insurance clause of the listing agreement address? C. An offer or counteroffer can be withdrawn at any time before it has been accepted. C. Shows property addresses that should be excluded from prospecting. 5- What kind of newspaper ad could you place to solicit a listing? Is there a contract between the buyer and seller? C. Is not necessary if the verbal presentation is strong. 11 of 11 Which of the following is a low loan-to-value ratio? 10 of 10 Which of the following is not a possible benefit of investing in real property? Code Violations and Tax Delinquencies. D. All adjustable rate mortgages have negative amortization. Covers more than one piece of property. 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. C. Insurance agents dealing with customers. 2 of 50 Residential property includes all of the following EXCEPT which? D. All adjustable rate mortgages have negative amortization. C. Mortgage bankers are a large source of residential loans in California. "Yes, let's offer $10,000 less than the asking price. B. Greg has put himself in a potential dual agency situation. Alex Jones owns a duplex and lives in one unit. B. D. There is a loan protection plan included with the loan. D. Brenda has not violated any fiduciary duty. 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. 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. B. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz 57- Under federal income tax law, the basis for a personal residence is which of the following: A. If the loan is for $68,000, what will Mark be assessed in points? This would be the maximum the purchaser would be permitted to borrow. 2- Explain the difference between the primary and secondary mortgage markets. chris kelly rock 92 net worth. 1- What is important to know about unlicensed real estate assistants? 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? C. Knocking on doors never requires special permits. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. 93- Jim has created a nice property flier for the James home. buyer randy makes an offer to purchase. 7. Virtual tours are a very expensive marketing tool to use. The property is in an area that could flood. C. Identifies buyers for other properties. 8- When does a purchase offer become a legal contract? To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. D. Hold both offers because he heard that a full-price offer is on its way. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 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? If a seller is in a multiple offer situation, how do you determine the best offer? 10 of 10 A competitive market analysis is an attempt to: A. C. When you have 200 names in your contact database. B. What is the status of the contract between Sam and Mary? The purchase price, plus improvements, C. The fair market value at the time of sale. Nam risus an, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. C. The home sits on an earthquake fault zone. 1. D. Interest rates are typically fixed rate. 29- Which of the following is not a good direct mail technique? C. Is subordinate to a first mortgage. A. Bob Broker represents Mary Buyer. A. A. 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? A. Here are the steps to follow to make an offer to purchase: Step 1. 12,800 square feet The purchase price, plus depreciation, B. What is the key feature of this type of loan? During a phone call, a salesperson discusses showing a property to a prospect. How long does he have to file a complaint with the Department of Housing and Urban Development? Most likely, what did they get? The second mortgage has now become the primary loan. $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. Answer: B- Encourage the buyer to get the attorney to review it quickly. A. C. If Bill pays off the loan early, there will be no prepayment penalty. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? Try to get Sam to accept the offer. A. A. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 4. What should Bob advise Sam? D. Meet with the buyers lender to ensure theyre getting a good deal. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. 9 of 10 Which of these is not a helpful homeowner tip? Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. C. It must specify a definite termination date. 28- Abby applies for a federally-related loan to purchase a home. 63- Jennys home appraised for $550,000. 7- Name three benefits of listing a home with an agent that you could share with sellers. B. Newsletters can be a very effective advertising forum for niche marketers. D. Make the headline bold and all caps. He asks his real estate agent if she could tell him how to go about building a house on the land. C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. 2 of 10 Assistants who are asked to be available for tasks in the field rather than in the office are referred to as: 3 of 10 Which of these items on a resume accompanying an application for an assistants position should be kept brief? A. D. Do not show the home between 10 a.m. and noon on Sundays. What kind of agreement is this? Which of these forms of advertising is she most likely to avoid? 2- What is important to remember about multiple offers? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? Her broker has asked her to be available for tasks in the field rather than in the office. The purchase price, plus improvements California: Real Estate Practice Ch11 Quiz with no answers. 8- When does a purchase offer become a legal contract? How would Grants lease at this time be classified? 6- What is the main reason sellers choose to sell their property without an agents help? 36- Broker Eric secures a loan for buyer Paul. During this interim period, grant makes monthly rent payments and the owner accepts them. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. Which of these ad headlines would probably be the least effective for this home? California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 8 of 10 Which of the following will give you comparative market data the fastest? 6 of 10 Who typically presents an offer to the sellers? Senior housing for residents 62 or older, B. 10 of 10 Which of these Internet pages might be of particular interest to sellers? A. Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. B. 4- What is a good method for estimating what a seller will net from the sale of the property? Only after receiving the tenants consent. The difference between what Sara owes and what her home is worth is known as what? 4- Why is coordinating escrow so important and how can an assistant help? Bob cannot do anything; it is out of his hands. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. munich latitude compared to us; pro sun tan. D. I will distribute 200 business cards every month for the next six months. Which is true? D. Gross income must be based on hours worked. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? Has New Age violated any laws? The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. What kinds of things should you include in a weekly activity report? Supervises the Truth in Lending Act. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. C. A counteroffer can give the buyers an out if they want one. C. Real Estate Settlement and Procedures Act. 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. D. Understanding characteristics of the rental market. 4- What are the major areas of newspaper leads? Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. Example 1. They will have a number of new expenses as a result of this purchase. A. Greg is violating the duties he owes to his new buyer. C. Have keys made for company listings. Given the rise in the price of a plane ride, what percentage change in the price 69,200 C. If Larry verbally accepted the offer, Kirk is bound by it. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? 10 of 50 There has been very little interest in the Bowers home this past week. 2. List the details of all parties involved. The sales agent should: Write a counteroffer stipulating the sellers' request. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 38 of 50 What is the primary role of Fannie Mae? Bob Broker knows that another offer will be coming in at about the same time. Answer: A- Proceed as if the buyer has decided to make an offer. 8- What actions does a lender take to sell a mortgage in the secondary market? CSP-Conlutas Central Sindical e Popular . Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500.