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? 3- How could refinancing be an investment benefit? C. The same amount will go towards the principal every month. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? A. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? \text { Annual testing cost } & 543,000 \\ D. Allows viewing access to strangers. 1 of 10 Which figure represents the amount of income available as a return to an investor? C. Regulating reserves of institutions with savings accounts only. 8 of 12 Fannie Mae does all of the following activities except which? 86- Which of the following is not considered a benefit of investing in real estate? Enter your offer. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. Mortgage brokers do not lend money. 10- What is the right to rescind and what is not covered by this rule? D. There is a loan protection plan included with the loan. 6- What is important for the sellers to know about a counteroffer? 8 of 10 Which of these marketing tools is not considered a traditional tool? B. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. 1- What are the five aspects that are involved in any selling approach? B. 65- Which of the following items is usually not prorated at closing? 68- Greg and Joyce have an adjustable rate mortgage on their home. A. Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" A. The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. Where is it that he likely found out the property was for sale? A. The purchase price, plus depreciation, B. 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 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? B. 3. Sending cards and newsletters is a good way to keep in contact with clients and prospects. 8- What is the major difference between a CalVet loan and other loans? What kind of agreement is this? A. 10 of 10 Which proposition limited the maximum amount of tax on real property? buyer randy makes an offer to purchase. "Yes, let's offer $10,000 less than the asking price. D. Understanding characteristics of the rental market. 22- Jane sold her personal home for $148,000. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. 4- Describe how a property manager can receive his or her fees. What is the primary criticism that sellers have about their agents? \text { Annual warranty cost } & 1,546,000 \\ 2 of 10 Which of these statements is true? B. mejores programas bases de datos. Set up a face-to-face meeting with the sellers as soon as possible. B. B. B. Ken must obtain his own training. Which of the following would be the least likely place for them to obtain a loan? What should Bob do? C. Recommend a counteroffer back to list price. 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 Sam accepts the offer and executes the contract on March 1, a Sunday. 5- Define the term loan-to-value ratio. C. Payments will not be enough to retire the loan. 74- Which statement is not true about an agency relationship? sam neill laura tingle split During business hours and only after giving the tenant 24 hours notice. C. Mortgage bankers are a large source of residential loans in California. A. Jake is getting a VA loan with no down payment. A. Information on current loan programs. A. I will complete the GRI certification in the next four years. A. Rule F-1. What should Bill do? They will have to make a very high down payment. D. Ensure fair real estate negotiations. by | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 The offer with the fewest contingencies B. Tom thereupon submits a full-price offer to the owner and purchases the property. It must be in writing to be enforceable. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? 96- Which statement is not true about a listing contract? buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . 3- Differentiate between mortgage brokers and mortgage bankers. castilian drive, los angeles. Secure documents that are public information from the courthouse and other sources available to the public. 11- What is a public report and when must it be provided? First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. What is important to remember about capturing the readers attention? 6. Ashley should end this relationship by, : asking the seller to sign a mutual release. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? Her broker has asked her to be available for tasks in the field rather than in the office. Gross income must be based on production. 7 of 10 Which of these forms is not filled out by the seller? What California Fair Housing law has the manager violated? D. Have the prospects sign the disclosure about agency relationship. CSP-Conlutas Central Sindical e Popular . Is generally viewed as unprofessional. Sample Final Exam for California Real Estate Practice Questions with no 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? "What would you like to offer?" 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. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. The borrower makes payments of interest only over the term of the loan. 13 of 50 What is the most common reason that owners try to sell their homes themselves? Terminate the first contract and accept the higher offer. buyer randy makes an offer to purchase. 70- Which of these items would be a credit to the buyer on the settlement statement? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. 17 of 50 Kathy is a personal assistant at Action Realty. : The Commission could suspend or revoke Rob's license. Make no recommendations and let the sellers decide on their own. D. Broker Gina puts $150 into her trust account. $5,500 the first year, plus a maximum 2% increase in market value per year, B. 53- Greg sold an apartment building he owned for 20 years. The gross annual income, $7,200, divided by 8% (0.08), is $90,000. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. What percent of commission the licensees can charge. What approach can Greg use to discourage the person from calling other agents? 37 of 50 Which of the following economic characteristics is true? 3- What signals do buyers use to indicate they may be willing to make a purchase? C. Date and attach supporting documents. Making An Offer To Buy A Business - 6 Key Considerations - Forbes Which of the following activities would she not be authorized to perform? 4- How is property management seen as a risk to investing? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? \hline D. Amanda smiles at Jim when she sees the whirlpool tub. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? ", Answer: A- "What would you like to offer? 6- List the steps of underwriting. A. A. A. C. Deposit into the brokerage business account. Which of these expenses is not associated with owning a home? A. Kirk doesnt have the right to withdraw the offer so soon. 77- Which of the following Internet pages might not be of particular interest to buyers? The buyer must pay the broker a commission. They made $50,000 of improvements. C. Analyzing the income potential of the property. A. D. Placing a classified ad in the weekend paper. What must Tim do? I think theyre asking a fair price., C. What do you think would be a fair price?, D. The comps say that this price is right on target.. Needs a license to perform activities that are not strictly administrative in nature. 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. 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? 1. Lorem ipsum dolor sit amet, consectetur adipiscing elit. D. After the agent has had time to make copies at the office. 3. What should agent Phil do? C. Is not necessary if the verbal presentation is strong. 10- Whats the difference between a lease purchase and a lease option? [Solved] Buyer Randy makes an offer to purchase one of Broker Tom's Who makes the payments to a claimant from the Guaranty Fund? C. Guarantees payment of all interest and principal on mortgage-backed securities. How long does he have to file a complaint with the Department of Housing and Urban Development? 33 of 50 Sal bought a personal residence for $150,000. : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. 9 of 10 Which of the following statements is not true? 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. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. A. Ken is responsible for his own taxes, while the broker pays Sarahs. 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? What should Elaine do? The borrowers family in case of his or her death, B. C. Shows property addresses that should be excluded from prospecting. 44 of 50 Fair Housing laws are designed to: A. 3- What is the difference between CLTA and ALTA policies? Give as much detailed information about the property as you can. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. D. Erics broker should appoint Eric as the designated agent in this transaction. Tell Mike that the sellers will be upset if they cancel the appointment. He says to them, "Would you prefer to take possession on September 1 or October 1?" B. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 5 of 10 What would be the least effective way to get to know your buyers needs? 4 of 10 Which of the following would be the least desirable phone handling technique? 12- What does TRID require of lenders? A. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 6- Whats important to know about the Liquidated Damages paragraph? 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. B. Newsletters can be a very effective advertising forum for niche marketers. What will they have to pay the lender? He succeeds in setting up an appointment to meet with the caller. On what amount will he pay capital gains tax? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. B. 8. D. Allows a broker to have as a commission anything above the minimum the seller sets. The adjusted cost basis of the first home was $140,000. D. Broker Tom has only limited responsibility for the actions of his licensees. What should Bob do? 2- Explain the difference between the primary and secondary mortgage markets. Sam plans to overnight the acceptance on Monday. Write a counteroffer. 5- If lenders intend to sell mortgages in the secondary market, what must they do? B. California: Real Estate Practice Chapter 13 Quiz with no answers. 10 of 10 Which of these Internet pages might be of particular interest to sellers? D. An exclusive listing must always be at least 30 days long. This term typically refers to. Seeking buyers for your listings B. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). Pellentesque dapibus efficitur laoreet. 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. 41- Agricultural land includes all of the following EXCEPT which? 18 of 50 The listing type that assures a broker that he or she will receive compensation no matter who procures the buyer is what kind of agreement? Which area of specialization would she fall into? A. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. A. How would you classify this essay (high or low comedy)? To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. She can do all of the following except which? D. Purchasing loans from primary lenders. He asks his real estate agent if she could tell him how to go about building a house on the land. California: Real Estate Practice Ch9 Quiz with no answers. Harry has some buyers that he believes are ready to make an offer. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. If a seller is in a multiple offer situation, how do you determine the best offer? D. I will complete a property management seminar within the next year. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. \hline \text { Annual inspection costs } & \$ 155,000 \\ 7 of 10 Which document shows the assets and liabilities of a business? 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. The following table lists all costs of quality incurred by Sam's Surf Shop last year. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? Lenders are in the best position to qualify buyers. Gives the names of lawyers who might require property assistance. 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. Example 1. 1- What is important to know about unlicensed real estate assistants? This is not true of which duty? 54- Jim and Jane are buying a home for $120,000. She is probably using all but which of the following tools? If the loan is VA guaranteed, no down payment is required. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? 8 of 10 Which of the following circumstances would concern you about working for Broker John? Regulates reserve requirements for all institutions that offer checking accounts. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? C. Ask the caller when not if he or she wants to see the property. 5 of 10 Which of the following is not a source of information for professional ethics codes? Which would NOT result from the exercise of police power? Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). What is the result? buyer randy makes an offer to purchase An assistant should never be left with the task of taking photos of a new listing. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? D. Preparing flyers and promotional materials for the brokers approval. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. Senior housing for residents 62 or older, B. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 8- What is an important issue for potential buyer clients to understand? Use the yes-but technique to handle the objection. Give a discount to families with children. Why or why not? A. C. Allow indoor pets to leave their designated area. Has Bob acted properly? C. Greg has violated the duty of confidentiality to Kim. 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office. The loan value is based on the appraised value, not the sale price. D. Administers special assistance programs. C. It must specify a definite termination date. D. Convince a seller to list with you. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. Rule F-21 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. 5 of 10 Mike bought his home last year for $150,000. 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. B. C. Give the tenant a 3-day notice to pay or quit. 16 juin 2022 why do babies clap their feet. A basis of $148,000 and no taxable gain, B. Tell the buyer to submit the offer first and then take a copy to the attorney to review. B. Use as little white space as possible. What is the key feature of this type of loan? 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? 4- Agent Greg receives a call about one of his firms ads. 3- What are the three general responsibilities of a property manager? A. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Answer: D- They are effectively terminating the original offer. A. B. C. How much time the licensees must spend in the office. He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. There are several steps in calculating the answer to this question. California: Real Estate Practice Ch11 Quiz with no answers. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? B. I will do two practice listing presentations per week with an experienced agent for the next two months. B. What do you need to remember about making phone calls to potential clients? Mary makes an offer to purchase a duplex from Sam. For what type of loan is the borrower applying? 7. 78- Nancy bought her home last year for $425,000. Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. B. You can make a Best Offer on listings that have a Make Offer button. California: Real Estate Practice Ch8 Quiz with no answers. Call Us Today! Donec aliquet. Which of the following items can Matt not add to the original cost when doing the computation? 5 of 10 RESPA applies to all of the following EXCEPT which? At the end of the term, the loan balance will be negative. buyer randy makes an offer to purchase - ftp.ivnowandzen.com Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. Before completing the form, discuss the following important points with the home seller: Price. D. I will distribute 200 business cards every month for the next six months. A. C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. She put 20% down and got a mortgage for the remainder. What is the status of the contract between Sam and Mary? D. Do not show the home between 10 a.m. and noon on Sundays. Give the prospects a black copy of a purchase agreement to look over. 5 of 10 California allows a property manager to charge a non-refundable fee for which? D. The interest payment is always smaller then the amount allocated to the principal. 57- Under federal income tax law, the basis for a personal residence is which of the following: 3- In what three ways can an assistant aid an agent with appointments? 62- When agent Hal shows a home he should never: A. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? D. Supply cannot be moved to a high demand area. C. Maintaining the office filing system. The sellers want the earnest money check made payable to them instead. C. A broker is not responsible for the acts of independent contractors. A. 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? Amanda loves the home and wants to make an offer. Ordinary china is very fragile. The lender gives a mortgage to the borrower and gets funds in exchange. The owner has 30 days to notify the county assessor. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. D. Arrange to meet the prospect at your office. Sam asks Bob what the price is. 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? 19- Which of the following is not an advantage of hosting an open house?
Cuando Empieza El Irs A Mandar Los Reembolsos 2021, Articles B
Cuando Empieza El Irs A Mandar Los Reembolsos 2021, Articles B