A. 9- What is the basic purpose of Truth in Lending Regulation Z? B. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. What should Pat do with the earnest money deposit? A. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. The adjusted cost basis of the first home was $140,000. 9 of 10 Which of the following statements is not true? Where is it that he likely found out the property was for sale? Her asking price was $560,000 and the property sold for $575,000. What percent of commission the licensees can charge. A secondary bid for a property that is for more than the first offer Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 5. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Sample Final Exam for California Real Estate Practice Questions with no 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; A. What will they have to pay the lender? 6- What does the security and insurance clause of the listing agreement address? 5- What should a good management contract contain? 12,800 square feet Needs a license to perform activities that are not strictly administrative in nature. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 11 of 12 ECOA requires that a lender send a denial notice within: 12 of 12 The amount of debt, time and method of payment, interest rate and other loan terms are part of the: 1- What is the role of the Fed? A. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. B. Example 1. Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet Decide which offer is best and present that one. The advertiser is subject to a fine. D. Exclusive-authorization-and-right-to-sell agreement. She is probably using all but which of the following tools? 5- When must a licensee provide an agency disclosure to a prospective client? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Instead, Bob terminates the relationship with Mary. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. D. Broker Gina puts $150 into her trust account. During business hours and only after giving the tenant 24 hours notice. 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. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. Other than residential list three kinds of property in the real estate market. What must Tim do? What percent of loss did you have? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? What law creates an automatic lien on a commercial property, subject to the listing agreement? California: Real Estate Practice Chapter 14 Quiz with no answers. Fill out a separate, numbered counteroffer form. buyer randy makes an offer to purchase - fabricadecosas.com 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. Which statement is true? Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. The definition of race was expanded to include ancestry. 6- How does a limited partnership differ from a general partnership? Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings C. FSBO sellers who list with an agent will pay their own advertising costs. Hes no longer interested in seeing the inside and Marge agrees. : The Commission could suspend or revoke Rob's license. 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? D. All adjustable rate mortgages have negative amortization. The monthly net rental is $600. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. 7 of 10 Which disclosure form gives detailed information about the propertys condition? The following table lists all costs of quality incurred by Sam's Surf Shop last year. He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. What would you say about Sallys behavior? B. 1- What is an important thing to remember about listing agreements? B. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz It was terminated when Mary delivered the recission to Sam. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. She tells them that this action could decrease their property values. Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. Sam asks Bob what the price is. 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. Sharon and Steve have just taken a second mortgage on their home. B. D. A basis of $140,000 and no taxable gain. 2 of 10 A competitive market analysis contains information about all of the following items except which? D. Have the prospects sign the disclosure about agency relationship. Then present the $208,000 offer. 10 of 10 If an agent does not comply with the requirement of conducting a visual inspection of a property, how long after possession does the buyer have to file a suit? 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. A. C. It keeps your name in front of potential buyers and sellers. 3 of 10 Sara just bought her first new home. D. Chris is a buyer's agent. 43 of 50 Which one of these statements would not be considered a measurable goal? 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? One day later. 1 of 10 Which of the following actions by an agent would most probably upset the sellers? Tell Linda that the sellers will be very disappointed if they cancel the appointment. 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? 5- What actions can the sellers take regarding the purchase offer? D. The casement windows have broken seals. Courtesy of RealtyPact. D. Exert pressure on the sellers to include something the other party wants. 22- Jane sold her personal home for $148,000. B. Exclusive-authorization-and-right-to-sell agreement. What should Alice do? Pellentesque dapibus efficitur laoreet. 3- For whom do property tax exemptions exist and for how much? Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 7 of 10 Which of the following is not a national real estate trade organization? A religious organization providing housing to members only, C. The sale of a single-family home by an owner who owns five residences, D. Rental of a unit in an owner-occupied four-family flat. A. 103- Kirk and Sandy obtained a wraparound mortgage. 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? 3- What signals do buyers use to indicate they may be willing to make a purchase? B. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. B. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. It never was effective since Sam had not notified Mary of the acceptance. C. Broker Harry deposits $1000 into his brokerage business account. 11 of 11 Which of the following is a low loan-to-value ratio? 2- What is floor time and why is it important? If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? C. The definition of handicap was expanded to include use of guide or support animals for deaf and blind individuals. buyer randy makes an offer to purchase - ftp.ivnowandzen.com Tell the buyer to submit the offer first and then take a copy to the attorney to review. C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 5 of 10 Mike bought his home last year for $150,000. A. She should advise them to let the offer expire with no action so the buyers will get nervous. C. Recommend a counteroffer back to list price. 5- What is the Closing Disclosure? 5 of 10 RESPA applies to all of the following EXCEPT which? The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. A Bill of Sale gives title to the business equipment. yellowbrick scholarship reviews. D. Hold both offers because he heard that a full-price offer is on its way. B. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Find solutions. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Anasayfa; Hakkmzda. A. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. 6 of 10 Which booklet is not part of the Combined Hazards Book? 7- How can a builder help you generate leads? \text { Annual rework cost } & 34,679 \\ 41- Agricultural land includes all of the following EXCEPT which? D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? lumberton man killed; guggenheim annuity rates. 67- Hannah is a real estate assistant. 4- Agent Greg receives a call about one of his firms ads. If you like, you can add a message to the seller. A. I will complete the GRI certification in the next four years. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? The Reality of Purchase Offers . 80- Which of the following is an example of commingling? C. Bake muffins or cinnamon rolls to create a homey feel. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 4- Explain the documentary transfer tax. Mary makes an offer to purchase a duplex from Sam. Mary learns that Sam is selling only half of the duplex. Bill is purchasing a 6-family apartment building. Enter your offer. A. C. Discover why some homes havent sold. A. Buyer Norm just signed a purchase contract with licensee Pat. 5- Define the term loan-to-value ratio. The borrower gives the lender a note and a mortgage in exchange for the funds. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. B. B. A. To learn more about the real estate business, D. To make more money than a real estate agent. buyer randy makes an offer to purchase - 740alvarado.com 7- What makes up a mortgage? View an objection as the buyers request for more information. C. Have keys made for company listings. 84- Four years ago, Sam purchased a vacant lot for $10,000. D. Call the sellers immediately and let them know you wont be coming by. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. 7- Agent Jim needs to do a visual inspection of his listing. California: Real Estate Practice Ch12 Quiz with no answers. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. What kind of loan do they have? A. What is most likely their main motivation for investing? 9% Ask the buyers to sign a real estate transfer disclosure statement. B. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. Use the yes-but technique to handle the objection. Retired persons are a good source of neighborhood information. D. Is permissible in amounts under $50. Who is responsible for removing the lien to clear the title? B. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? buyer randy makes an offer to purchase - nubblesitesolutions.com Answer: D- Return the money to buyer Norm. 6- List the steps of underwriting. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? C. Do you need the equity from your current home for the new home purchase? Preparation of an appraisal of the property, D. Help with required forms and disclosures. A counteroffer represents a rejection of an offer. Pellentesque dapibus efficitur laoreet. 3- When making your presentation, what topics should you cover? C. Real Estate Settlement and Procedures Act. In the meantime, Bill gets another offer on the property from another buyer at a higher price. He succeeds in setting up an appointment to meet with the caller. 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? D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 10. \text { Annual warranty cost } & 1,546,000 \\ D. There is a loan protection plan included with the loan. 2- Name one advantage and one disadvantage of telephone contacts. 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. If the loan is for $68,000, what will Mark be assessed in points? A. 42- Alice is planning her career and setting her goals. 8 of 50 Buyer Kirk submits an offer to seller Larry. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? 12- What does TRID require of lenders? 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? Launch into your list of the homes special features and hope she changes her mind. 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? C. The home sits on an earthquake fault zone. B. Deposit the check into his trust fund account on the next business day. A. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? There are no offers on the property during the 6-month listing period and the listing expires. Present the $200,000 first and recommend rejection. C. Tell the sellers you expect an offer to be coming soon. D. If the buyer rejects the first counteroffer, the seller can accept the first offer. Bob Broker knows that another offer will be coming in at about the same time. California: Real Estate Practice Ch9 Quiz with no answers. They called Wills office and told the secretary they are upset and need to speak with Will. 8- What does the Water Heater Statement of Compliance address? 9 of 10 Which of these is not a helpful homeowner tip? B. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? There . A. 28- Abby applies for a federally-related loan to purchase a home. In the past year they have referred two dozen people who have purchased flooring from New Age. California: Real Estate Practice Chapter 17 Quiz with no answers. D. Kirks offer to Larry is legally cancelled. D. Buyers of FSBO homes are usually the ones who save money. If a seller is in a multiple offer situation, how do you determine the best offer? Skip the activity report for that week. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. Receives special tax considerations. B. B. B. List the details of all parties involved. 6- When is a lender required to terminate a borrowers private mortgage insurance? B. Which law extended discrimination to include handicap and familial status? 12- What are grant programs typically used for? 7- Name three benefits of listing a home with an agent that you could share with sellers. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. Step 2. 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket? A. 5 of 10 Which of the following is not a source of information for professional ethics codes? B. 3 of 10 How long must trust account records be kept? How long does he have to file a complaint with the Department of Housing and Urban Development? 6 of 11 Which of the following is not true about reverse annuity mortgages? "Let's make a low ball offer?" 1- What is an important thing to remember about listing agreements? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. 4- What are the major areas of newspaper leads? The escrow holder will need information about the brokers commission. What kind of mortgage are they looking for? A counteroffer by a seller to a buyer turns the seller from offeree to offeror. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? (Who, Whom) has been selected as the team captain? They were counting on a full-price offer and are very disappointed. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. D. Property evaluations from other agents have valuable information for sellers. Mortgage bankers bring borrowers and lenders together. Seeking buyers for your listings B. D. The UCC is a body of law that standardizes a number of business practices. It is determined by who pays the compensation. Broker John puts $500 into his trust account. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. C. The buyers and sellers agents will sign the escrow instructions. Ask the buyer if the buyer would like to make an offer taking the roof age into account. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 42 of 50 Alex makes an offer to purchase one of Bills listings. 8 of 10 Which of these statements about counteroffers is not true? D. The interest payment is always smaller then the amount allocated to the principal. 12- What are grant programs typically used for? 3 of 12 All of the following are primary mortgage market lenders except which? Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. C. Is not necessary if the verbal presentation is strong. Next, calculate the points charged; $168,500 x 0.02 = $3,370.
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