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The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. B. D. Magazine ads are significantly more expensive than newspaper ads. What should Bob do? D. Tell the sellers its time to reevaluate the price. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. A. 4- What are the major areas of newspaper leads? What property type will he be dealing with? Mortgage bankers bring borrowers and lenders together. During business hours and only after giving the tenant 24 hours notice. B. A broker cannot use the word escrow in a fictitious name. 78- Nancy bought her home last year for $425,000. C. Brenda could be liable for a breach of the listing terms. A. In the meantime, Bill gets another offer on the property from another buyer at a higher price. California: Real Estate Practice Chapter 17 Quiz with no answers. Sam asks Bob what the price is. 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? 1 of 10 Which of the following types of agency is not allowed in California? 4- Why is it important to talk to the sellers about the buyers? 29 of 50 What is one way the Federal Reserve System regulates the money supply? Mary wants to make an offer on a house that is 25% lower than the asking price. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 5- When must a licensee provide an agency disclosure to a prospective client? 33- Which statement is true about a loan that has a negative amortization? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 2- Explain the difference between the primary and secondary mortgage markets. Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. B. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. C. Your plan for finding the buyer a home. Buys conventional, FHA and VA loans. A. C. Deposit into the brokerage business account. What would we call Hannah? D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. Minimize expenses while maximizing profits for the owner. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Hometown received $2400.00 in referrals. Prices of properties currently on the market, C. Properties that were listed but did not sell. B. Wait until next week to send an activity report, hoping things will pick up. 2- Explain the difference between the primary and secondary mortgage markets. You bought if for the listing price plus 10% and sold it for the listing price. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. B. Change the locks on the tenants apartment. rickey smiley and grandson videos 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 2 of 10 A competitive market analysis contains information about all of the following items except which? 5- What actions can the sellers take regarding the purchase offer? Which of the following is Kirk himself not likely to do during the application process? C. Is not necessary if the verbal presentation is strong. A. B. B. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. 6- When is a lender required to terminate a borrowers private mortgage insurance? 96- Which statement is not true about a listing contract? California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. practice test Flashcards | Quizlet The listing agent must provide the disclosure to the seller prior to securing the listing agreement. Which of the following items can Matt not add to the original cost when doing the computation? Tell the buyer about the other offer and urge the buyer to skip the attorney. Nam lacinia pulvinar tortor nec facilisis. Virtual tours are a very expensive marketing tool to use. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. Be open-minded. B. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? This is not true of which duty? A. D. Placing a classified ad in the weekend paper. D. I will distribute 200 business cards every month for the next six months. Sets a limit on the commission a broker can earn. 3- What are the three general responsibilities of a property manager? Underline the correct pronoun in parentheses in the following sentence. Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. C. Accept commissions from referral agents. A. B. C. The loan term will extend gradually over time. 5 of 10 All of these would be effective at capturing a readers attention except which? C. Knocking on doors never requires special permits. 5- How do life insurance companies get involved in the investment market? 53- Greg sold an apartment building he owned for 20 years. He pays rent for occupancy, plus maintenance and operating expenses. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? 64- Which of the following is not a form of personal advertising? A. John offers weekly training seminars. C. Consider child support payments in the decision. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase Over 300 California Real Estate Practice Exam questions to pass Tests! B. The purchase price, plus depreciation, B. Has Bob acted properly? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? A. B. What should Bob do? D. The buyers love the landscaping improvements the sellers have made. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. What kind of closing technique is Harry using? Which of the following is true, if you are licensed as a referral agent? What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? B. Tell Mike that the sellers will be upset if they cancel the appointment. What should Pat do with the earnest money deposit? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 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? 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? 6- What is important for the sellers to know about a counteroffer? A. D. Must start out as a part-time employee. How are properties affected by the local economy? Offers To Purchase Real Estate 43 Offer To Purchase Real Estate Templates (& Letters) As a potential buyer for a house, you would make an offer on paper to the owner of your intentions. C. Identifies buyers for other properties. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 6- According to California real estate law, how often must a broker balance his or her trust accounts? A. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 14- Value includes which of the following aspects? Given the rise in the price of a plane ride, what percentage change in the price chris kelly rock 92 net worth. C. Moving closer to the agent to get a better look. 43 of 50 Which one of these statements would not be considered a measurable goal? Housing and Community Development Act. 6- What is the main reason sellers choose to sell their property without an agents help? B. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). Be a deal maker. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. A. "Yes, let's offer $10,000 less than the asking price. 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. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Attend weekly staff meetings at the office. D. All adjustable rate mortgages have negative amortization. What kinds of insurance do brokers normally require of their employees? Mortgage brokers do not lend money. 8 of 10 Which of these is a free form of advertising? of a train ride will leave the quantity demanded of train rides unchanged. California: Real Estate Practice Sample of Final Course Exam. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? California: Real Estate Practice Ch5 Quiz with no answers. Terminate the first contract and accept the higher offer. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. A. university of missouri hospital salaries 2021; port orange arrests today. This would be the maximum the purchaser would be permitted to borrow. B. buyer randy makes an offer to purchase - 740alvarado.com He just sold it for $13,000. Donec aliquet. The buyer must pay the broker a commission. D. Lends good visual support to what the agent is saying. B. The gross annual income, $7,200, divided by 8% (0.08), is $90,000. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. D. Property evaluations from other agents have valuable information for sellers. She thinks they are really interested in one particular property, but when she approaches them about it, the buyer says, The price is too high. What would be a good response to that comment? 21- Which form of advertising is considered the most cost-effective method for selling a home? 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? D. Gross income must be based on hours worked. The Reality of Purchase Offers . Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? A. Tell the sellers exactly how she feels and why she thinks the offer is not a good one.