The term of the loan can be shortened. 9 of 10 Which of these is not a helpful homeowner tip? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. D. She should persuade them to accept the offer. A. 10 of 10 Which of the following statements is not true about a net listing? C. The home sits on an earthquake fault zone. Give as much detailed information about the property as you can. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. Find things in the home a seller needs to repair. B. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo The advertiser can be sentenced to up to a year in prison. D. Ensure fair real estate negotiations. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. They agree on a price and both parties execute the contract. 9- What required disclosure is a result of Megans Law? 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? Broker John puts $500 into his trust account. The sellers want the earnest money check made payable to them instead. Mary makes an offer to purchase a duplex from Sam. A. I will complete the GRI certification in the next four years. The purchase price, plus depreciation, B. B. Rewrite whole paragraphs to ensure clarity. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. Tom then resells the property to the developer and pockets a $300,000 profit. 7- How can a builder help you generate leads? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? The borrower makes payments of interest only over the term of the loan. 9 of 10 All of these might be a buying signal except which? Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. B. "What would you like to offer?" B. A. Bob should not have presented the offer after the property was under contract to another buyer. 6- How does a limited partnership differ from a general partnership? buyer randy makes an offer to purchase. 86- Which of the following is not considered a benefit of investing in real estate? 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? C. The owner has 45 days to pay the new property taxes. C. Present Alexs offer first since it came in first. D. There is a loan protection plan included with the loan. 4. 6- What does the security and insurance clause of the listing agreement address? He says to them, "Would you prefer to take possession on September 1 or October 1?" 100- What does the Real Estate Disclosure Law refer to? B. Allows quick repayment of the loan through accelerated payments. During a phone call, a salesperson discusses showing a property to a prospect. 4- Why is coordinating escrow so important and how can an assistant help? Fill out a separate, numbered counteroffer form. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? A. 7 of 50 Glenna and Amanda just bought their first home. The owner has 30 days to notify the county assessor. 1- What is an important thing to remember about listing agreements? 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? Bob receives an offer from a buyer that is 12% below Sam's asking price. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. 21- Which form of advertising is considered the most cost-effective method for selling a home? C. Real estate can respond quickly to changes in the market. Answer: D- They are effectively terminating the original offer. California: Real Estate Practice Ch9 Quiz with no answers. B. Underline the correct pronoun in parentheses in the following sentence. C. Jim and Amanda whisper and frown when they see the basement. Which of the following statements is true? D. Is permissible in amounts under $50. 3- Differentiate between mortgage brokers and mortgage bankers. D. The loan must be repaid before the borrowers death. 3. 4- Why is it important to talk to the sellers about the buyers? The fees that Eric charges Paul for making the loan could be any but which of the following amounts? Which statement is true? Give the sellers a copy of some homeowners tips. B. What is the most often used form of earnest money deposit? 9 of 10 Which of the following statements is not true? how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; is 0.4. buyer randy makes an offer to purchase Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. B. 1 of 10 Which of these statements is not true? View an objection as the buyers request for more information. B. \text { Annual cost of quality training } & 456,000 \\ 29- Which of the following is not a good direct mail technique? First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Other than residential list three kinds of property in the real estate market. 4- What are the major areas of newspaper leads? D. Purchasing loans from primary lenders. One day later. 9 of 10 Janet is an unlicensed assistant. What kind of closing technique is Jim using? 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? 1- What is a competitive market analysis? He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. A. Preparation of an appraisal of the property, D. Help with required forms and disclosures. A rental condominium for a recreational vehicle. What should Bob advise Sam? Which of the following items can Matt not add to the original cost when doing the computation? 3 of 12 All of the following are primary mortgage market lenders except which? How long does he have to file a complaint with the Department of Housing and Urban Development? A. The ordinance also requires a 10-foot side set back. D. Have the broker send a thank you for listing letter to the sellers. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. 5- What does the safety clause in the listing agreement do? C. Discuss alternative properties that may be interest. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. There is a crack in the basement wall. Go back to the buyer's agent and try to get the offer higher. He refuses to rent the other unit to families with children. The monthly net rental is $600. What is the key feature of this type of loan? California: Real Estate Practice Chapter 18 Quiz with no answers. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? D. Interest rates are typically fixed rate. 9 of 50 Which of the following is a credit to the seller on the settlement statement? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. 8 of 10 Which of the following will give you comparative market data the fastest? 8- What is the major difference between a CalVet loan and other loans? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? Prices of properties currently on the market, C. Properties that were listed but did not sell. 11 of 11 Which of the following is a low loan-to-value ratio? 80- Which of the following is an example of commingling? B. Underline each word that should be capitalized in the following items. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. Write a counteroffer. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. It never was effective since Sam had not notified Mary of the acceptance. A. Local ordinance requires a 20-foot rear and front setback. He made $150,000 of improvements during the three years he lived in it before he sold it. 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? 9- Define a purchase money mortgage. C. Maintaining the office filing system. C. The buyers and sellers agents will sign the escrow instructions. 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? There are several successful agents at Johns office. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? D. Seeking buyers for others agents listings. The borrower gives the lender a note and a mortgage in exchange for the funds. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. cross elasticity of demand for train rides with respect to the price of a plane ride 8 of 10 Which of these is a free form of advertising? C. The lender gives the borrower a mortgage and funds. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? 5 of 10 How many properties should be included for comparison in a competitive market analysis? She is probably using all but which of the following tools? \hline Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. Which of these actions might have caused their upset? Suggest to the sellers that their listing price is too high. B. How should Jan's licensee handle the offer? 6- List the steps of underwriting. C. Exclusive-authorization-and-right-to-sell agreement. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? B. Answer: A- Proceed as if the buyer has decided to make an offer. D. Call the sellers immediately and let them know you wont be coming by. 8- What does the Water Heater Statement of Compliance address? 51- Which statement is true about a homeowners exemption? C. Write and sign commission checks to salespersons. At the end of the term, the loan balance will be negative. 37 of 50 Which of the following economic characteristics is true? Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} 65- Which of the following items is usually not prorated at closing? 8- What is an important issue for potential buyer clients to understand? Set up a face-to-face meeting with the sellers as soon as possible. Point out that the roof is not leaking despite its age. What should you keep in mind when developing your marketing plans? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? They called Wills office and told the secretary they are upset and need to speak with Will. A. 4- Amanda calls broker Tim to schedule a showing of one of his listings. A. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 6- Whats important to know about the Liquidated Damages paragraph? Which of the following is true, if you are licensed as a referral agent? 6 of 10 Which of the following is not an item that a buyer usually pays at closing? 10- Whats the difference between a lease purchase and a lease option? 70- Which of these items would be a credit to the buyer on the settlement statement? B. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. Certain homeowners may qualify for a $10,000 exemption. B. Greg has put himself in a potential dual agency situation. She put 20% down and got a mortgage for the remainder. Instead, Bob terminates the relationship with Mary. B. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. The offer with the highest price that is the most likely to close A. C. Shows property addresses that should be excluded from prospecting. 44 of 50 Fair Housing laws are designed to: A. C. How much time the licensees must spend in the office. 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. B. 8 of 10 Which statement is true about a real estate assistant? C. Date and attach supporting documents. A. Jim specializes in clients who want to buy restaurants. California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. ", Answer: A- "What would you like to offer? B. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Which of the these activities does she have control over? B. chris kelly rock 92 net worth. 3- What is the difference between CLTA and ALTA policies? 1- When is an agency relationship created? Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). A. Wills weekly report indicates two showings and five inquiries for the week. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. 12- What does TRID require of lenders? 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? C. Make up some statistics to share with the Bowers. Rule 21 B. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? A. How long must a broker be licensed in order to apply for a temporary broker's license? Then present the $208,000 offer. If checked, the seller can complete repairs after closing. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. D. Administers special assistance programs. 103- Kirk and Sandy obtained a wraparound mortgage. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? 6 of 10 A buyer calls your office to inquire about a property he saw advertised. 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. 6- What does the security and insurance clause of the listing agreement address? 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? B. 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? Bill cannot contact the seller. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? 5 of 10 The principles of an agency relationship include all of these factors except which one? Step 2. 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. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? C. If Larry verbally accepted the offer, Kirk is bound by it. A. 7 of 11 In which of the following types of loans is the payment allocated only to interest? B. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. 71- When agent Jane meets with her sellers to offer suggestions, she most likely would not give them: 72- According to RESPA, a buyer or seller cannot legally be charged at closing for which of the following items? 4 of 10 What is a good method for an assistant to keep track of the various types of files a real estate broker must have? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 8- Under what conditions may a landlord enter a tenants property? \text { Annual rework cost } & 34,679 \\ Tell the buyer to submit the offer first and then take a copy to the attorney to review. \text { Annual cost of scrap materials } & 286,000 \\ Amanda loves the home and wants to make an offer. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. Change the locks on the tenants apartment. 10- What is the right to rescind and what is not covered by this rule? D. All adjustable rate mortgages have negative amortization. 8- What actions does a lender take to sell a mortgage in the secondary market? Enter your offer. D. Magazine ads are significantly more expensive than newspaper ads. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. B. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. A. 4- How is property management seen as a risk to investing? 5 of 10 Mike bought his home last year for $150,000. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? Which is a true statement? Use as little white space as possible. C. An assistant can keep track of the progress of activities during escrow. 4- What items are not covered by any title insurance policy? 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? The second mortgage has now become the primary loan. Sunday afternoon, Mary is driving around and finds a property she likes better. A. A secondary bid for a property that is for more than the first offer The advertiser is subject to a fine. 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? Gross income must be based on production. They will owe a balloon payment at the end of the loan term. 38 of 50 What is the primary role of Fannie Mae? In this scenario, which of the following is not true? A. The sales agent should: Write a counteroffer stipulating the sellers' request. 24 of 50 Tim thinks his buyers are ready to make an offer. A. What does that mean? 2- Who needs title insurance and why? 8- Why should agent Grace give her client a Combined Hazards Book?
Deca Community Giving Project 2020, Tampa Family Photographer Mini Session, Rlcraft Potion Core, Articles B
Deca Community Giving Project 2020, Tampa Family Photographer Mini Session, Rlcraft Potion Core, Articles B