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Azure tide realty 45hr pratice exam
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Azure tide realty 45hr pratice exam
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Azure tide realty 45hr praticeexam
Which statement would you advise agent Jerome not use in his listing
advertisement due to Fair Housing Laws? - -Within walking distance of the
Gulf of Mexico
-Which of the following is correct about the inspection period? - -The buyer
may choose to walk away from the contract for any reason.
-Someone could be heard crying for help from an apartment. Which
statement is true? - -Because it is an emergency, the owner may enter.
-You have just concluded a buyer presentation with Taylor. She likes you
and you helped her sister buy a house 6 months ago. She is really excited
about getting started. You put the buyer broker agreement in front of her,
but you notice she looks very worried and did not sign it right away. You ask
her if she has any questions. She immediately says, "Yes, I don't know how I
am going to pay you for helping me. A guy at work said he had to pay his
real estate agent $10,000. I only have money for the down payment because
you helped me get the 1st time home buyer program. I guess I will have to
wait until I can save up some money. Which of the following statements
cover steps number 4 & 5 of objection handling? - -"You don't have to worry
about that because my commission is paid by the seller at closing. Since you
don't have to pay me yourself, wouldn't it make sense to work together?"
-Steering is described as what? - -Using a protected class as a basis to
decide where to show someone property.
-A loan officer has done a brief interview with a buyer without verifying
documentation such as income. What is this called? - -Preapproving the
buyer.
-Concept that 20% of pointed action produces 80% of results is called what?
- -Pareto's Principle
-Which of the following statements is true regarding license renewal? - -If
the licensee fails to renew the license by the first renewal term, the licensee
cannot recover it.
-You have shown your buyer's what they say is their dream home. However,
it needs some repairs. The house is a foreclosure and has been vacant for
almost a year. One bathroom is missing the toilet, the roof has a leak, the
kitchen counters are gone and a few other more minor issues. The buyers
, will qualify for any loan and have more than enough to put down; whatever
is required. Which of the following is the best loan for them? - -203K
-Assistance with price, advertising, providing signage, inclusion in MLS,
inclusion on websites, holding open houses, showing of the property, use of a
lockbox, presenting and managing offers, contract negotiations, and
transaction closing assistance - are all tasks that what? - -Can be contracted
individually on a Limited Brokerage Services Addendum.
-Per the statute - when a condominium is sold, specific documents must be
provided from the seller to the buyer. The re-seller must provide the buyer
with 7 different required documents. (Not including new requirements for
possible Milestone Inspection or Structural Integrity Reserve Study
documents.) Which of the following is not one of those 7 documents? - -
Board of Directors Contact Information
-October was preparing an advertisement for her seller and included the
phrase "2.9% interest available." What else does she have to include in the
advertisement? - -The amount or percentage of the down payment, the
terms of repayment, and the annual percentage rate.
-Buyer Betty was buying a home in a flood zone and was also securing a
loan. Which is a true statement? - -An elevation certificate will be required in
order for an insurance quote and binder to be provided.
-During the inspection period, how can a buyer walk away from the deal? - -
without penalty for any reason
-Spending 85% of your time prospecting for sellers, according to the
National Association of Realtors® will produce what percentage of buyers? -
-50%
-You are advertising that you will give buyers $500 of your commission at
closing. Jessica, an agent with another brokerage, calls you and says you can
NOT advertise giving buyer's money back at closing. Under RESPA and TILA,
who is right and why? - -You are right, because it is allowed if handled
correctly and disclosed to all parties.
-The licensee may take on legal liability of an inspection by referring the
buyer or seller to a specific inspector/inspection company. To help insulate
yourself from liability you should do what? - -Always give the client a list of
at least 3 names
-What is the purpose of the estoppel certificate prior to closing on a property
with a homeowner's association? - -So that any unpaid fees due by the seller
for the HOA can be accounted for within the closing figures.
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