9 of 10 Which of these is not a helpful homeowner tip? 2- What types of office administration tasks are important for a licensed assistant to perform? Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings Other than residential list three kinds of property in the real estate market. 53- Greg sold an apartment building he owned for 20 years. B. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. Answer: B- Encourage the buyer to get the attorney to review it quickly. B. A. 22- Jane sold her personal home for $148,000. cross elasticity of demand for train rides with respect to the price of a plane ride 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? $6,740 10 of 10 Which of these is not an exemption to fair housing law? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Pellentesque dapibus efficitur laoreet. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Anasayfa; Hakkmzda. Sexta, 26 de novembro de 2021 . 8- Why should agent Grace give her client a Combined Hazards Book? 5. 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. 4- What is a good method for estimating what a seller will net from the sale of the property? Go back to the buyer's agent and try to get the offer higher. What should Pat do with the earnest money deposit? Deposit the check into his trust fund account on the next business day. 6. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Mortgage bankers bring borrowers and lenders together. How does ALTA-R differ from ALTA? Next, calculate the points charged; $168,500 x 0.02 = $3,370. What is the status of the contract between Sam and Mary? 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? The offer with the highest price that is the most likely to close D. Provides the names of individuals who may want to sell inherited property. What should Elaine do? Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. A. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? C. Present Alexs offer first since it came in first. B. 4. A. 2 of 10 Developing a prospecting plan is similar to: 3 of 10 Which of the following is not a legal notice that can provide a listing lead? D. Allows a broker to have as a commission anything above the minimum the seller sets. What does that mean? B. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. B. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? D. Ensure fair real estate negotiations. There are no offers on the property during the 6-month listing period and the listing expires. 5 of 10 You should try to attach a rider strip to your For Sale sign that has: 6 of 10 If there is no interest in the property on a given week, the agent should: A. Before the sale can get finalized, the owner would require you to first meet certain conditions. 31- Patrick has a written independent contractor agreement with his broker Tami. First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. 4 of 10 Which of the following would be the least desirable phone handling technique? What approach can Greg use to discourage the person from calling other agents? What would we call Hannah? D. Brenda has not violated any fiduciary duty. What law creates an automatic lien on a commercial property, subject to the listing agreement? California: Real Estate Practice Ch12 Quiz with no answers. 2- What is floor time and why is it important? Give housing choices to the widest range of people. 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. C. Johns office has a selection of books, CDs and tapes for agent use. 9- What is the basic purpose of Truth in Lending Regulation Z? If a seller is in a multiple offer situation, how do you determine the best offer? Deposit the check into his trust fund account on the next business day. 14- Value includes which of the following aspects? 8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? B. Brenda has violated the fiduciary duty of obedience to Jim. 3- In what three ways can an assistant aid an agent with appointments? Each of their payments is for the same amount. 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. D. Arrange to meet the prospect at your office. C. Tell them that this home is an exceptional buy and encourage them to look anyway. 2- What exception exists to the duty of obedience when working with a client? Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. What should Bill do? \text { Annual cost of scrap materials } & 286,000 \\ Give an example of a specific short-term goal. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. She put 20% down and got a mortgage for the remainder. A. C. Knocking on doors never requires special permits. 3- What is a good approach to use when contacting the owner of an expired listing? D. Tell the sellers its time to reevaluate the price. The advertiser can be sentenced to up to a year in prison. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? Recommend a counteroffer back to list price. PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. C. It must specify a definite termination date. C. Analyzing the income potential of the property. What approach can their agent take to change the sellers perception of the offer? 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). 5 of 10 What would be the least effective way to get to know your buyers needs? What kind of listing agreement does Alice have with Jack? What is meant by the term sphere of influence? What should Tim do next? 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. D. Must start out as a part-time employee. Name four traditional marketing tools that you should use with every listing you get. It helps to identify buyer and seller needs. the buyer is not allowed to make a counteroffer. D. Make the headline bold and all caps. Find a home that meets FHA requirements. 2- What kind of problem can result from a straight loan? B. C. Accept commissions from referral agents. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? A. 4- Describe how a property manager can receive his or her fees. C. Print postage labels from your computer. 4- Agent Greg receives a call about one of his firms ads. 4- What items are not covered by any title insurance policy? A. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. What property type will he be dealing with? An apartment building for a vacant lot, B. 5 of 10 Which of these statements is not true about qualifying buyers? 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. Referral fee to a homeowners insurance agent. 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? Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. CSP-Conlutas Central Sindical e Popular . B. C. Participate in a tax shelter program. A. 7 of 10 Which of the following is a possible benefit of investing in real property? A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. How long must a broker be licensed in order to apply for a temporary broker's license? A. Ken is responsible for his own taxes, while the broker pays Sarahs. You can use a reverse telephone directory to get the names of residents. 2- When establishing rapport, whats one of the best ways to get to know your buyers? The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. What should Jake do? 21- Which form of advertising is considered the most cost-effective method for selling a home? 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? This best describes. 68- Greg and Joyce have an adjustable rate mortgage on their home. 5 of 10 All of these would be effective at capturing a readers attention except which? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. B. B. I will do two practice listing presentations per week with an experienced agent for the next two months. B. 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. A. Greg is violating the duties he owes to his new buyer. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 1. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? Over 300 California Real Estate Practice Exam questions to pass Tests! 104- Lorna and Hal have obtained a growing equity mortgage for their new home. Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. D. The monthly payments increase overtime. D. Buyers of FSBO homes are usually the ones who save money. B. Its a good idea for brokers to carry workers compensation coverage. Which of the following activities would she not be authorized to perform? B. D. Broker Tom has only limited responsibility for the actions of his licensees. D. Erics broker should appoint Eric as the designated agent in this transaction. Given the rise in the price of a plane ride, what percentage change in the price D. Have the broker send a thank you for listing letter to the sellers. 12- What are grant programs typically used for? 95- Who is liable for the withholding on the sale of a property owned by a foreigner? A. Will placed an ad in the most recent Home Buyers Guide. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Minimize expenses while maximizing profits for the owner. B. Greg has put himself in a potential dual agency situation. $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. C. How much time the licensees must spend in the office. Amanda loves the home and wants to make an offer. She would likely be required to do which of the following? B. 2 of 50 Residential property includes all of the following EXCEPT which? B. Then present the $208,000 offer. A. Properties are very liquid and can move quickly. 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? C. Sellers are apt to choose qualified buyers over ones who have not been qualified. They will owe a balloon payment at the end of the loan term. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. What are some important tips for home tours? What kind of a mortgage do they have? 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? The offer with the fewest contingencies 9 of 10 A shopping center would be primarily categorized as what type of property? She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. A. This is not true of which duty? 5- What actions can the sellers take regarding the purchase offer? Give the prospects a black copy of a purchase agreement to look over. B. buyer randy makes an offer to purchase buyer randy makes an offer to 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? Certain homeowners may qualify for a $10,000 exemption. 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. Mary makes an offer to purchase a duplex from Sam. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. D. Avoid negative comments while hes inside the home. 2- What does Proposition 58 state? buyer randy makes an offer to purchase 105- Agent Alice has received an offer that she believes is not in the sellers best interest. D. The appraised value prior to sale 3- When making your presentation, what topics should you cover? C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. Example 1. The second mortgage has now become the primary loan. A. C. Real Estate Settlement and Procedures Act. The escrow holder will need information about the brokers commission. B. Jim Sharp is purchasing his fathers home. 56- Which is not a true statement about the Agency Disclosure? 7- How can a builder help you generate leads? D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. A counteroffer by a seller to a buyer turns the seller from offeree to offeror. chris kelly rock 92 net worth. B. D. Understanding characteristics of the rental market. D. Kirks offer to Larry is legally cancelled. 6- What is the main reason sellers choose to sell their property without an agents help? 17 of 50 Kathy is a personal assistant at Action Realty. Making a Best Offer | eBay Could be a violation of state licensing laws. 5- Your listing presentation manual should be made up of two sections that address what issues? 8 of 10 Which of these is a free form of advertising? The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. D. Give the sellers the price over the phone so that they can think about it before you meet with them. 100- What does the Real Estate Disclosure Law refer to? 6- What does the security and insurance clause of the listing agreement address? D. A basis of $140,000 and no taxable gain. Tell Mike that the sellers will be upset if they cancel the appointment. B. D. Similar expired listings that didnt sell. Which one is illegal in many states? 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? 9. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 1 of 10 Broker Alice has hired several independent contractors in her firm. 8- When does a purchase offer become a legal contract? Ask the caller if he or she would like to receive e-mails on newly listed properties. 6- What is the main reason sellers choose to sell their property without an agents help? What would you say about Alexs actions? 8 of 50 Buyer Kirk submits an offer to seller Larry. 28- Abby applies for a federally-related loan to purchase a home. Give as much detailed information about the property as you can. Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. 3- For whom do property tax exemptions exist and for how much? A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. B. $5,500 the first year, plus a maximum 2% increase in market value per year, B. B. Which of the following is true, if you are licensed as a referral agent? The purchase price, plus depreciation, B. B. Exclusive-authorization-and-right-to-sell agreement. 9 of 10 Which of these words or phrases might be considered discriminatory when used in advertising? A. Wills weekly report indicates two showings and five inquiries for the week. Buyers looking at FSBO homes are usually looking for a bargain. The ordinance also requires a 10-foot side set back. A. What should Bob advise Sam? A. 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 3. 103- Kirk and Sandy obtained a wraparound mortgage. D. This action is deliberate misrepresentation. 2. What should Bob do? buyer randy makes an offer to purchase - ftp.ivnowandzen.com 2 of 12 Which of the following statements is not true about the Federal Reserve? Answer: C- Try to get Sam to accept the offer. 8 of 10 Which of the following is a good direct mail technique? 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? 4. 70- Which of these items would be a credit to the buyer on the settlement statement? Write a contingent counteroffer. The definition of race was expanded to include ancestry. This form is the first step in any real estate deal. C. The loan term will extend gradually over time. What kind of mortgage might they get? 48 of 50 Which of these lenders would be the least likely to lend money for an investor to purchase an apartment building? Pellentesque dapibus efficitur laoreet. In addition to agent and MLS home tours, what are some other ancillary tools you can use? 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? A secondary bid for a property from the same buyer. 6. Bob Broker represents Sam Seller. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 5 of 10 Which of the following is not a source of information for professional ethics codes? 3. California: Real Estate Practice Chapter 14 Quiz with no answers. Is generally viewed as unprofessional. Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. B. How does ALTA-R differ from ALTA? 42- Alice is planning her career and setting her goals. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? A buyer applies for a loan that is neither insured nor guaranteed by a government agency. C. Gather listing forms for her employer. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? B. 2. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? 3- For whom do property tax exemptions exist and for how much? 9% During this interim period, grant makes monthly rent payments and the owner accepts them. What is the key feature of this type of loan? C. Participation in the MLS increases a licensees inventory. 10- Which disclosures are NOT required to be made when selling residential property? At the time the agreement is signed. A. 54- Jim and Jane are buying a home for $120,000. C. Classified ads placed on the property, D. Number of hits on the company website. Better yet, try to avoid deal breakers. 3 of 10 Sara just bought her first new home. A. 8 of 10 Which of the following will give you comparative market data the fastest? 6- List the steps of underwriting. B. FSBO sellers believe they will save money if they sell themselves. 1. D. Is permissible in amounts under $50. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? : The Commission could suspend or revoke Rob's license. 2. Can be used in place of a verbal presentation. The lender makes payments to the borrower. A Bill of Sale gives title to the business equipment. "What would you like to offer?" He sounds really excited about this property. Which of the following would be the least likely place for them to obtain a loan? Sample Final Exam for California Real Estate Practice Questions with no You had a 9% loss. 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?
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