a) Title fees b) Taxes c) Rent d) Utilities. a) Attachment b) Covenant c) Bond d) Bill. a) One calendar week b) One business day c) Two calendar days d) One business week. d) closing insurance. D) market specialization On June 12, 2015, Hurricane purchased 1,450 shares of Rogue Wave Inc. at $45 per a) Good Faith Estimate b) Truth-in-Lending Statement c) HUD-1 Form d) Mortgage Loan Disclosure Statement. 15) Which of the following does not meet the criteria for a VA loan? c. transactional B) substantial B) not required to disclose the information because the seller might reject the offer. A) measurable b) decrease the interest rate as the principal declines. D) niche 10 of 10 All of the following are true statements about goals except which one? D. d) They are always divided equally between the buyer and the seller. B) selective specialization D) segment "acid test" A valid listing agreement may be terminated for any of the following reasons, EXCEPT: B. expiration of the individual listing agent's license, expiration of the individual listing agent's license. They can accept it outright, reject it totally, or submit a counteroffer. Assume that its cost of goods manufactured is $534,390. 8) What is used to seal a binder agreement? a) PMI Federal Act b) Homeowners Protection Act c) RESPA d) Interest Payment Act. b. Transactional exchange b) It is necessary to search public records to ascertain the status of title. This action is based on which mortgage feature? a) Title company b) Attorney's office c) Lender's site d) Broker's office, a) Second mortgage on a condominium b) Seller-financed loan c) Hotel mortgage d) Loan assumption, 5) Most lenders require buyers to purchase. each) ________1. Projected profit margins. a. trust. c. Relationship marketing a) Void b) Enforceable c) Enforceable or unenforceable d) Voidable, 3) A contact agreement to sell alcohol to minor would be considered. Solved 1. Which statement is TRUE in a market with a price - Chegg 5) What is the interest rate on an ARM tied to? A counteroffer represents a rejection of an offer. In which situation would Sam not owe a commission to EX Realty? a) Judicial Foreclosure b) Mortgage Foreclosure c) Short-Sale Foreclosure d) Lien Foreclosure. Is Biden Raising Mortgage Payments for People with Good Credit? D) It is a low-cost strategy. a) Fixed b) Straight c) Amortized d) Open. A. it must contain a nondiscriminatory clause, B. it may be oral up to presentation of the first offer, C. it requires the seller to sell if a full price offer is made by a buyer, D. it can contain an automatic renewal clause if both parties agree to it in writing, it must contain a nondiscriminatory clause. d) 10 percent of the loan amount. a) Right of Purchase b) Right to Rescind c) Right to Deed Access d) Right of Redemption. By entering into an exclusive agency listing agreement with a seller, a real estate brokerage firm: A. is not entitled to receive a commission if another agency finds a buyer for the property, B. has become the seller's designated agent, C. has become the exclusive agent of the seller, but is not entitled to receive a commission if the seller finds a buyer for the property, D. has agreed to renegotiate the commission with the seller should another agency offer a lower commission rate, has become the exclusive agent of the seller, but is not entitled to receive a commission if the seller finds a buyer for the property. a) Estate for years b) Estate at will c) Estate from period to period d) Estate at sufferance. The buyer's primary function at closing is to. If the buyer rejects the first counteroffer, the seller can accept the first offer. Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve: Close buyer-seller relationships have many advantages for a firm, but one key disadvantage is: B) long-term commitments to another organization reduce flexibility for a firm. a. The home is listed at $210,000. a) voidable. B) It automatically binds the owner, the broker, and the MLS to its agreed provisions. LO: 6.1: In what ways can a company divide a consumer or business market into segments? a) To protect lawyers who are sued by clients b) To compel real estate companies to use standard forms c) To reimburse clients for money that was misused by their attorney d) To prevent licensees from preparing real estate contracts. Each of their payments is for the same amount B. c. Total cost of ownership d) require higher down payments than government-backed loans require. a) Pest inspection b) Insurance premium paid in advance c) Soil test d) Survey. a) A certificate issued by a local building department that indicates that the building is in proper condition to be occupied. Comment on any similarities or differences present. #11. C) accessible c) settlement statement. d. Margin analysis, Relationship efficacy When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: Make no recommendations and let the sellers decide on their own. c) It is not voidable. 1) What is the underlying tenet of a contract agreement? When making your presentation, what topics should you cover? a. industry bandwidth Which statement is TRUE? D) user status a) The borrower must occupy the property. 5) What is a lead-based paint disclosure used for? AACSB: Reflective thinking, 66) General Motors, a leading American multinational automaker, sells cars for every purpose, budget, and personality. B) influencer b) a 3 percent down payment. The $20,000 is what type of mortgage? e. Interfirm cooperation. a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. Which statement is true about prospecting for buyers? E) horizontal market, Answer: B 3) The process of selecting one or more market segments to enter is called market ________. A. wait for a signed release from the buyer, B. try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice, C. inform the buyer that the seller is being unreasonable and explain that the broker must release the earnest money to the seller, D. disperse the money according to the terms of the Offer to Purchase and Contract, try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice. d) It is permissible in amounts under $50. 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? 4) The Statute of Limitations requires that parties to a contract who have been damaged or who question the contract's provisions do what? Which of the following statements is TRUE? a) require lower down payments than government-backed loans require. Which of the following are reasons for business marketers to employ relationship marketing activities? A) single-segment concentration What type of loan might help Fred? D) purchasing approaches &&\underline{\underline{\$ 93,400}}&\underline{\underline{\$ 93,400}} 5) Mike signed a rental agreement for his friend Norm. 11 Q d. Buying centers. c. Both (a) and (b) are true. Units 11-15 Flashcards D. Since buyer didn't have agent, it's his responsibility to check about fences. LO: 6.2: How should a company choose the most attractive target markets? Eventually Sam convinces a co-worker, Wanda Wish, to purchase his home. d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. 3) Which of the following locations is the least likely place to hold a closing? a) The buyer may not revoke the offer in such a short period of time. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. c) a 4 percent down payment. a) expressed contact. #3. \hline \text { Tornado Inc. } & 800 & \$ 14,000 & \$ 15,600 \\ D) impulsiveness c) will be a debit to the seller. d. commission. a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. E) full market coverage, Answer: A Diff: 1 This is an example of ________. D) operating variables 2) If an attorney make changes to an offer, what action should follow? c. Buyers prefer collaborative relationships when the purchase decision is not complex. A) needs-based segmentation 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. Effective machine life is only determined by the durability of the machine. #9. C. All residential sellers are exempt from this act unless a broker is not involved in the transaction. a) Revolving Lease b) Wholesale Lease c) Index Lease d) Leading Indicator Lease. E) antiloyals, Answer: B b) after 5 years of loan payments. d. Collaborative exchange, _____ occur in between the two extremes on the relationship continuum, where the focus of the selling firm shifts from attracting customers to keeping customers. Diff: 2 45 Hour Post License Final Exam Flashcards | Quizlet a) for a buyer who plans to own the property for a short time and believes the property will appreciate during that time. b) Interest is determined by the debt-to-loan ratio. C) allowing consumers to gravitate toward product brands #5. 11) Fred has an existing property mortgage, but seeks a second loan. \end{array} D) examining the demographics section of the handbook of marketing c) The contract becomes unenforceable. LO: 6.2: How should a company choose the most attractive target markets? d) Interest is based on a selected economic indicator index. a) It represents a "meeting of the minds." A) initiator AACSB: Analytical thinking; Application of knowledge, 14) A company can learn a great deal by analyzing the degrees of brand loyalty. d) Mark can be evicted. b) A borrower can get a conventional loan with a lower down payment by insuring the loan through private mortgage insurance. A purchase offer is a binding contract between the buyer, the seller and their agents. 9) Sellers Glen and Jill are closing on their home sale next week. c) using preprinted riders. E) consumer motivation, Answer: E What does the phrase the law of agency is a common-law doctrine mean? Solved 33.Which of the following statements is true about - Chegg b) neither an instrument of conveyance nor contract. They were counting on a full-price offer and are very disappointed. The listing agreement is between the client and the firm. They will owe a balloon payment at the end of the loan term. AACSB: Reflective thinking, 64) In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer. B) segment identification Who typically presents an offer to the sellers? 13) What type of account holds property insurance, taxes, and Mutual Mortgage Insurance in escrow? d) The tenant leases the ground from the landlord and owns the improvements. If the buyer backs out of the contract without good reason, the offer to purchase contains a printed clause that says the seller may keep the deposit as: a. equity. c. A strategic alliance c) a misdemeanor. A) demographic variables (Assume it is not a leap year and the day of closing belongs to the seller. e. none of the above, For collaborative customers, the business marketer should: LO: 6.2: How should a company choose the most attractive target markets? b) credits to the seller. LO: 6.1: In what ways can a company divide a consumer or business market into segments? Annual amortization is capital recovery value which is equal to net investment divided . d) The broker finds out from the lender and tells the sellers. B) demographic #1. A potential buyer can make an issue a material fact by asking about or expressing their intentions. E) short-term segmentation, Answer: A c) It is forbidden under any circumstances. Trust A) company's objectives and resources #1. When business marketers are assessing which of their current customers represent the best opportunities for growth, which of the following factors should be considered? Which of the following statements is true of obtaining commitment from a buyer? a) Interest Only b) Balloon c) Amortized d) Adjustable rate. A seller and a buyer are engaged in a dispute over a forfeited earnest money deposit. Transactional exchange features very close: On-going transactions in the business market where the customer and the supplier focus only on the timely exchange of standard products at competitive prices could be described as: There is a gravitational pull that moves buyers toward the transactional side of the exchange spectrum because: _____ reflect(s) the degree to which the systems, procedures, and routines of the buying and selling firms have been connected to facilitate operations. a) The meeting of the minds b) The actual contract form c) The written contract words d) The public notice of the offer, 2) Neighbor Sam told seller Jake that he would buy 2 adjoining acres if Jake ever decides to sell. AACSB: Analytical thinking, 52) If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments. C) guerrilla D. (a manufacturer). a) The landlord sells the ground to another, then leases it back. A continuing dialogue with customers. If the dispute cannot be resolved the firm should allow the transaction to close and then bring a lawsuit against the seller for the commission, but the brokerage cannot hold the transaction between the parties hostage. A) measurable a. a collaborative advantage. b) This mortgage type is popular among the elderly. e. (b) and (c) only. A. c) allows for contract approval by a third party lawyer hired by the broker. These would be examples of what is called ________. b) All the parties must initial the changes. 11) If a seller prepaid an insurance policy of $2,100 and the closing is set for March 15, using the 12-month/30-day method, what will the buyer owe the seller? How are unrealized gains and losses treated differently for available-for-sale securities However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. C) segment attractiveness a) Forward Clause b) Advanced Clause c) Acceleration Clause d) Call Due Clause, 4) Typically, the interest rate on an ARM is based in part on. a) Executory b) Lateral c) Executed d) Open Option, 2) A patron at a restaurant is agreeing to a(n). E) actionable, Answer: E When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. Browse over 1 million classes created by top students, professors, publishers, and experts. 10) Which statement about prorated items is TRUE? B) It can help create jobs in the economy by increasing demand for goods and services. c) valid but unenforceable contract. 13) Al is seeking an FHA loan. a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. Answer: A They do not try to get a loan, and when the deadline for loan approval draws near, they tell their agent they couldn't get a loan. a. Ben and Blanche receive a $200,000 offer on their home which is listed at $208,000. e. none of the above, Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular relationship. 2) If a real estate agent prepares a sales contract and an attorney makes modifications to it, which statement is TRUE? 9) Which of these would be a CREDIT to the seller at closing? 8) Which of the following is not an item that a seller usually pays at closing? 3) A contract which neither party can enforce is called. What is important for the sellers to know about a counteroffer? a. Transactional exchange b. directly assist customers with planning and strategy development. 9) How does a borrower use private mortgage insurance? Anti-trust laws apply to activities between firms and their interaction. B The buyer normally has the right to inspect the goods before the buyer accepts or pays for them. Which statement is TRUE? If a check was provided NCREC allows BIC's and firms to start counting the 3 days from the acceptance of a contract. c) A borrower can get a VA loan with a lower down payment by insuring the loan through private mortgage insurance. c. the firm can identify opportunities for expanding the relationship. b. Personalized treatment of the most valuable customers. 5) What is one important difference between a sublease and a lease assignment? 7) Jim holds a commercial lease. 1) Which of the following statements about market segmentation is TRUE? E) purchasing approaches, Answer: B d. all of the above ), a) The seller's share of $2,533.38 b) The buyer's share of $666.62 c) The seller's share of $2,525.76 d) The buyer's share of $674.24. C. The process of obtaining commitment occurs only toward the end of any sales call. LO: 6.2: How should a company choose the most attractive target markets? 11) What type of loan is often used when a seller will not accept a property sale contingency? What type of mortgage is Rich requesting? b. value proposition LO: 6.2: How should a company choose the most attractive target markets? #3. A patron at a restaurant is agreeing to a(n). A. listing agent = duty to disclose listing 411 sheet that fences were not permitted. d) states that a lawyer can rescind the contract terms within 10 days of contract approval. d) Involuntary conveyance of title by statutory rules of descent. Diff: 3 E) segment "acid test", Answer: C A buyer with a 640 credit score and an 80% loan-to-value ratio will have a fee of 2.25%, while a buyer with a 740 score will have a fee of 0.875%. c) A chronology of successive owners of record of a parcel of real estate. #15. c) A chronology of successive owners of record of a parcel of real estate. Even without a buyer's commitment, a sale can take place. b) It could be a violation of state licensing laws. 2) Mark gets a home loan and the lender will charge him 3 points at closing. Once there is a valid and enforceable sales contract, death of the parties does not end that agreement. a) Sale price of the property b) The amount of the mortgage c) The sale price minus the earnest money deposit d) The seller's profit on the sale. c) Brokers may not complete leases to which they are not a party. Diff: 2 Solved Label each the following statements about the | Chegg.com d) pay the purchase price for the property. Which is true of a valid listing agreement in NC? B) differentiated