B. 2- What are some tax benefits associated with investing? The home is listed at $210,000. If you like, you can add a message to the seller. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? D. Lends good visual support to what the agent is saying. An apartment building for a vacant lot, B. This is not true of which duty? Find a home that meets FHA requirements. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? What approach can their agent take to change the sellers perception of the offer? This form is the first step in any real estate deal. C. Use an attractive first-class stamp. 7 of 10 Which of these is not a good thing to do when writing a counteroffer? B. B. D. Supply cannot be moved to a high demand area. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. D. Broker Gina puts $150 into her trust account. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. A. 4- Why is it important to talk to the sellers about the buyers? 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs Ordinary china is very fragile. 5- How do life insurance companies get involved in the investment market? C. Can perform some real estate activities without a license. Is critical to your success in real estate. Which would NOT result from the exercise of police power? 86- Which of the following is not considered a benefit of investing in real estate? Suggest that the buyer look at a different house. Her broker has asked her to be available for tasks in the field rather than in the office. Buyer Norm just signed a purchase contract with licensee Pat. D. Administers special assistance programs. Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. Fill out a separate, numbered counteroffer form. 4. C. Recommend a counteroffer back to list price. D. Brenda has not violated any fiduciary duty. Then present the $208,000 offer. 44 of 50 Fair Housing laws are designed to: A. Make no recommendations and let the sellers decide on their own. At the end of the term, the loan balance will be negative. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 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. C. How much time the licensees must spend in the office. 50- Harry has some buyers that he believes are ready to make an offer. The following table lists all costs of quality incurred by Sam's Surf Shop last year. 16 juin 2022 why do babies clap their feet. The purchase price, plus improvements, C. The fair market value at the time of sale. C. Deposit into the brokerage business account. A. Lead-based paint was used in the home. B. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. If the lot measures 100' x 200', which is the total allowable square footage of a single story building? They made $50,000 of improvements. Sharon and Steve have just taken a second mortgage on their home. The buyer must pay the broker a commission. 44- Jim owns a gift shop in a commercial building. 1 of 10 What kind of lease contains a recapture clause? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. What kind of agreement is this? B. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? 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. Can be used in place of a verbal presentation. Sam accepts the offer and executes the contract on March 1, a Sunday. What is the status of the contract between Sam and Mary? A. Generates leads for new listings. D. Have the broker send a thank you for listing letter to the sellers. Mortgage brokers do not lend money. 5 of 10 All of these would be effective at capturing a readers attention except which? Explain. Buyer Jim asks if he can visit the property for a second time. 1- What is an important thing to remember about listing agreements? \text { Annual cost of quality training } & 456,000 \\ 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? How can you prepare your sellers for receiving offers? Randy and his real estate agent, Bob, enter into a listing agreement whereby Bob may list Randy's property but Randy may also try to find a buyer Bob finds Clarice, a buyer who has enough cash to purchase the property and would like to purchase the property today. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. B. 6 of 10 Which booklet is not part of the Combined Hazards Book? C. Gather listing forms for her employer. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Is depreciation accounted for by a hospital? 16- Dave and Nadine have decided that they want to become property investors. 6 of 10 Which of these is an emotional reason that buyers buy property? Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. Be open-minded. B. Ken must obtain his own training. C. Clearly written contractor agreement must exist. 8- Under what conditions may a landlord enter a tenants property? Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. D. Will conducted an agent open house last week that was attended by 25 agents. What should a licensees written employment agreement contain? The check that accompanies the salesperson license application must be for what amount? C. Supervises the Federal Housing Authority. Underline the correct pronoun in parentheses in the following sentence. C. The air conditioner does not work. C. Greg has violated the duty of confidentiality to Kim. 2- Explain the difference between the primary and secondary mortgage markets. 1- What is an important thing to remember about listing agreements? 3- What signals do buyers use to indicate they may be willing to make a purchase? B. A. Retain the check for use with a future sales contract offer. A broker may advertise that he or she is an escrow agent. 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? B. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. What do you need to remember about making phone calls to potential clients? California: Real Estate Practice Chapter 15 Quiz with no answers. 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? C. Payments will not be enough to retire the loan. C. A counteroffer can give the buyers an out if they want one. B. Ask the caller if he or she would like to receive e-mails on newly listed properties. On what amount will they pay capital gains tax? A. 46 of 50 Greg grew up in and lives in a rural area. How should licensee Fred handle this offer? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 2 of 12 Which of the following statements is not true about the Federal Reserve? A. Answer: D- They are effectively terminating the original offer. A. Which of the following items can Matt not add to the original cost when doing the computation? 8 of 10 When is the first installment of property taxes due? For purposes of federal income tax, which statement is true? 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. 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. A. Underline each word that should be capitalized in the following items. How long must a broker be licensed in order to apply for a temporary broker's license? C. Find a lender who is willing to do FHA loans. Private mortgage insurance is available for FHA loans. 33- Which statement is true about a loan that has a negative amortization? California: Real Estate Practice Ch12 Quiz with no answers. B. California: Real Estate Practice Ch9 Quiz with no answers. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. What will they have to pay the lender? D. Offer something valuable to the reader. Bob cannot do anything; it is out of his hands. Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? D. Greg has no fiduciary responsibilities to Kim once the listing expired. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? B. Decide which offer is best and present that one. Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. 07 Jun. B. Enumerate the homes special features and hope they change their minds. 4 of 11 Which of these is also called a contract for deed? 4. Installation of central air conditioning, D. Addition of a tenant laundry facility. Sam plans to overnight the acceptance on Monday. 3- What signals do buyers use to indicate they may be willing to make a purchase? 37- When dealing with the sale of a business, which is not a true statement? C. Clearly written contractor agreement must exist. Loan terms are from 15 to 25 years. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. He must withdraw his representation of one of the parties. 3 of 10 Jake has received two offers on one of his listings. 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. B. B. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? A rental condominium for a recreational vehicle. Needs a license to perform activities that are not strictly administrative in nature. A. Anasayfa; Hakkmzda. 2- List the three Institute of Real Estate Management property management designations. California: Real Estate Practice Chapter 18 Quiz with no answers. B. 3- For whom do property tax exemptions exist and for how much? B. "Yes, let's offer $10,000 less than the asking price. A basis of $148,000 and no taxable gain, B. B. D. The loan must be repaid before the borrowers death. Goodwill is an intangible asset that results from the reputation of the business. What is this agreement called? 53- Greg sold an apartment building he owned for 20 years. Which of these actions might have caused their upset? is 0.4. buyer randy makes an offer to purchase. If the loan is VA guaranteed, no down payment is required. What property type will he be dealing with? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 11. 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? Course Hero is not sponsored or endorsed by any college or university. She put 20% down and got a mortgage for the remainder. buyer randy makes an offer to purchasei miss you text art copy and paste. 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? 8. Which of the these activities does she have control over? A. Local ordinance requires a 20-foot rear and front setback. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. The home comes equipped with all furnishings. D. Hold it with the buyers permission until the contract is accepted. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 4- What is a good method for estimating what a seller will net from the sale of the property? A. Kirk doesnt have the right to withdraw the offer so soon. D. She should persuade them to accept the offer. 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? What should Jake do? 6 of 50 Broker Tami has a very low advertising budget. C. Make up some statistics to share with the Bowers. Encourage Sam to make a counteroffer at 2% below Sam's asking price. Properties are very liquid and can move quickly. 7- What are the capital gains exclusions associated with the sale of a personal residence? 9 of 10 Janet is an unlicensed assistant. \text { Annual warranty cost } & 1,546,000 \\ He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? 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? 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? C. Allow indoor pets to leave their designated area. B. C. Eric may not represent the sellers interests to the detriment of the buyer. C. An assistant can keep track of the progress of activities during escrow. D. Meet with the buyers lender to ensure theyre getting a good deal. 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. C. Knocking on doors never requires special permits. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. A. D. Reduces the monthly payment for a borrower during the initial years. 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. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 57- Under federal income tax law, the basis for a personal residence is which of the following: 3- Differentiate between mortgage brokers and mortgage bankers. B. What are some important tips for home tours? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. 4- Describe how a property manager can receive his or her fees. B. "No, you may lose the house." 65- Which of the following items is usually not prorated at closing? 41 of 50 What was the important ruling in Jones v. Mayer? 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. \text { Annual cost of scrap materials } & 286,000 \\ 12- What are grant programs typically used for? 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 A. Greg is violating the duties he owes to his new buyer. Only needs to be done periodically. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? A. Which of the following activities would she not be authorized to perform? A. The sales agent should: Write a counteroffer stipulating the sellers' request. Sets a limit on the commission a broker can earn. 8- What does the Water Heater Statement of Compliance address? What kind of closing technique is Jim using? B. 6- Whats important to know about the Liquidated Damages paragraph? 1.555.555.555 | frontier airlines crash history. Pellentesque dapibus efficitur laoreet. 63- Jennys home appraised for $550,000. A. A. Use as little white space as possible. 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. Harry has some buyers that he believes are ready to make an offer. 5 of 11 Which of these statements is true about a CalVet loan? 4- What is the agreement that a broker can enter into with a buyer? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 4- What items are not covered by any title insurance policy? 8 of 10 Which of these marketing tools is not considered a traditional tool? 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? How would Grants lease at this time be classified? B. He paid $100,000 for it, and made $300,000 worth of improvements. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. B. What would we call Hannah? 5 of 10 Which of these statements is not true about qualifying buyers? Pellentesque dapibus efficitur laoreet. A rental property has a return rate of 8%. C. Consider child support payments in the decision. 8 of 50 Buyer Kirk submits an offer to seller Larry. B. 93- Jim has created a nice property flier for the James home. 3. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? A. B. Its a good idea for brokers to carry workers compensation coverage. A. 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. They will have a number of new expenses as a result of this purchase. 4- Amanda calls broker Tim to schedule a showing of one of his listings. 8 of 10 What does the paragraph on repairs state? 56- Which is not a true statement about the Agency Disclosure? C. Identifies buyers for other properties. 12- What are grant programs typically used for? of a train ride will leave the quantity demanded of train rides unchanged. B. Ask the buyers to sign a real estate transfer disclosure statement. Attend weekly staff meetings at the office. 1- What is escrow? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 41- Agricultural land includes all of the following EXCEPT which? Sam asks Bob what the price is.
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