Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. What do many firms do to avoid confusion with their advertising plan? 10- Which disclosures are NOT required to be made when selling residential property? buyer randy makes an offer to purchase - pet-anneve.com C. Recommend a counteroffer back to list price. They will have to make a very high down payment. A. Present the offer and tell the seller that the check needs to be held until June 30. itur laoreet. Only after receiving the tenants consent. Which law extended discrimination to include handicap and familial status? 1 of 10 Which of these statements is not true? 2- What is important to remember about multiple offers? D. The appraised value prior to sale A. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 1.555.555.555 | frontier airlines crash history. 7- Name three benefits of listing a home with an agent that you could share with sellers. Studying population trends in the area. Which of the these activities does she have control over? 2 of 10 When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? 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. 5- If lenders intend to sell mortgages in the secondary market, what must they do? A. 6- When is a lender required to terminate a borrowers private mortgage insurance? How much did Sam gain or lose on the sale? Which is a true statement? C. The owner has 45 days to pay the new property taxes. The Change the locks on the tenants apartment. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. B. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. Name and define the two forms of advertising. buyer randy makes an offer to purchase 7- How can a builder help you generate leads? C. FSBO sellers who list with an agent will pay their own advertising costs. D. Gross income must be based on hours worked. D. Understanding characteristics of the rental market. B. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? An apartment building for a vacant lot, B. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? C. Gather listing forms for her employer. The purchase price, plus improvements, C. The fair market value at the time of sale. Which of the following statements is not true? 16- Dave and Nadine have decided that they want to become property investors. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? 4- Why is it important to talk to the sellers about the buyers? A secondary bid for a property that is less than the first offer A. Which statement is true? Give a discount to families with children. 11- What is a public report and when must it be provided? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? 5 of 50 Jane has been working with some buyers for several weeks. 2 of 10 A competitive market analysis contains information about all of the following items except which? B. buyer randy makes an offer to purchase Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. Bill cannot contact the seller. 8. B. Set up a face-to-face meeting with the sellers as soon as possible. B. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. B. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. B. B. C. Make up some statistics to share with the Bowers. C. Is permissible if being accepted on behalf of a third party. If the lot measures 100' x 200', which is the total allowable square footage of a single story building? 10 of 10 Which of the following statements is not true about a net listing? Broker compensation to other brokers. At time of license renewal, what is the renewal charge for a salespersons license? Point out that the roof is not leaking despite its age. Lenders are in the best position to qualify buyers. 4 of 10 Which of the following would be the least desirable phone handling technique? A. Salesperson Harry can solicit his own listings. B. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. 81- Jake has decided to specialize in working with clients who purchase schools. B. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? B. What kind of mortgage might they get? 7 of 10 Which document shows the assets and liabilities of a business? Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. Which of the following conditions is Paul not required to report on this form? A net listing is illegal in all states. 2- List the three Institute of Real Estate Management property management designations. D. All repairs must be in compliance with existing building codes. What kind of closing technique is Harry using? C. Can perform some real estate activities without a license. One day later. A. Alex Jones owns a duplex and lives in one unit. Course Hero is not sponsored or endorsed by any college or university. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 10 of 10 Which of the following is not a possible benefit of investing in real property? A. 6- List the steps of underwriting. D. Lends good visual support to what the agent is saying. D. All adjustable rate mortgages have negative amortization. 7- What does the net operating income of a property represent? 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. 2- What is floor time and why is it important? Whoever brings the buyer will get the commission. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. 1. A. C. Find a lender who is willing to do FHA loans. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. This is not true of which duty? 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? B. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? Mortgage bankers bring borrowers and lenders together. 5 of 10 Mike bought his home last year for $150,000. 2- Explain the difference between the primary and secondary mortgage markets. Norm gave Pat a $500 earnest money check. Could be a violation of state licensing laws. Which of the following would be considered an intermediate goal? A. It can be considered an employment contract. Give an example of a specific short-term goal. How would Grants lease at this time be classified? D. Seeking buyers for others agents listings. Step 2. Maximize the return to the property management firm. 9- What is the basic purpose of Truth in Lending Regulation Z? D. Exclusive-authorization-and-right-to-sell agreement. What is the major difference between an employee and an independent contractor? D. Supply cannot be moved to a high demand area. Which of the following statements is not true? B. 64- Which of the following is not a form of personal advertising? Answer: B- The contract is voidable due to mutual mistake. There . Please remove your shoes before entering the home. B. B. A secondary bid for a property that the seller will accept if the first offer fails It is determined by who pays the compensation. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? Who makes the payments to a claimant from the Guaranty Fund? "Yes, let's offer $10,000 less than the asking price. A. 6 of 50 Broker Tami has a very low advertising budget. 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? A. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? B. 2 of 10 All of these statements are true except which one? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. 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. Greg has violated the duty of confidentiality to Kim. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? How to make a Best Offer. B. What do you need to remember about making phone calls to potential clients? 65- Which of the following items is usually not prorated at closing? C. Consider child support payments in the decision. B. A. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? 8 of 10 Which of the following circumstances would concern you about working for Broker John? A. C. The air conditioner does not work. Retired persons are a good source of neighborhood information. sam neill laura tingle split Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. C. Clearly written contractor agreement must exist. C. Exclusive-authorization-and-right-to-sell agreement. D. Buyer indemnity and seller protection. 2- Explain the difference between the primary and secondary mortgage markets. A. Documents showing your affiliations with real estate organizations. How should Jan's licensee handle the offer? C. It creates an agency relationship. PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). A. $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. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? D. The owner has 45 days to file a change in ownership statement. What is the status of the contract between Sam and Mary? 4- How is property management seen as a risk to investing? They were counting on a full-price offer and are very disappointed. What is important to remember about capturing the readers attention? B. Information on current loan programs. You can use a reverse telephone directory to get the names of residents. Wait until next week to send an activity report, hoping things will pick up.
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