Florida Real Estate 45 Hour Post License Practice Correct 100%

To clearly create standards of behavior within a company, which of the following would be a good idea? - ANSWER 1) [CORRECT ANSWER] Create company manuals. 2) Provide mandatory ethics training. 3) Set up anonymous reporting system of other employee's bad behavior. 4) All of the above. A condo management company can put a lien against property and force foreclosure when an owner does/does not do what? - ANSWER 1) Doesn't pay their property taxes on time 2) [CORRECT ANSWER] Doesn't pay the condo fees 3) Breaks the lease policy by not getting tenants approved before renting. 4) Breaks the pet policy after 3 written warnings. An ethics charge within the National Association of REALTORS® may result in which one of the following? - ANSWER 1) Expulsion from membership with NAR. 2) Mandatory Educations. 3) Letter of warning. 4) [CORRECT ANSWER]Any of the above. The whole house inspector can send copies of the report to the buyer and the buyer's agent. Then the buyer's agent should do what? - ANSWER 1) [CORRECT ANSWER] Should include the parts of the reports detailing the repairs that the buyer wants addressed for the deal to close. 2) Should send a copy immediately to the seller's agent. 3) Should not review the report with their buyer. 4) Should send a copy to the seller without asking the buyer for permission. Getting inspections done on all structures on the property, including major appliances, plumbing, electrical, and the roof _______. - ANSWER 1) Requires having several different inspectors do an inspection. 2) Will result in lengthy reports often overwhelming buyers so you shouldn't let them get everything inspected. 3) Won't find items that pose a risk to the property or to the value of the property. 4) [CORRECT ANSWER] Can usually be done all at once by doing a whole house inspector. Clara Barton wanted to increase brand loyalty. Where should she share her company policies? - ANSWER 1) Websites. 2) Marketing brochures. 3) Brochures. 4) [CORRECT ANSWER] All of the above. You just finished a listing presentation for Joe. He seems impressed, but he says, "Thank-you for coming tonight. I am going to think things over and let you know what I decide in the morning." Which of the following phrases would be the best way to start a response based on the 5 Steps of Objection Handling? - ANSWER 1) "I'll drop my commission by 1% if you list with me today." 2) "But wouldn't it be better just to get this over with? I promise you I won't let you down." 3) [CORRECT ANSWER] "I understand you want to think over such a big decision. When I have to make an important decision, I often want to take my time as well. I was wondering..." 4) "I understand. I'll call you in the morning to find out your decision!" Eye contact during a conversation is an example of what? - ANSWER 1) [CORRECT ANSWER] Body language 2) Writing skills 3) Verbalizing 4) Listening Condominium ownership is all of the following except which one? - ANSWER 1) Fee simple ownership 2) Ownership is transferred by deed. 3) Common elements are legally attached and transferred as well. 4) [CORRECT ANSWER] Each owner pays an equal share of the property tax for the whole building. Spending 85% of your time prospecting for sellers, according to the National Association of Realtors® will produce what percentage of buyers? - ANSWER 1) 25% 2) 40% 3) [CORRECT ANSWER] 50% 4) 80% You are working with a seller and are in contract with a buyer. The appraisal comes back $5,000 below the agreed upon sale price. The buyer wants your seller to reduce the sale price by $6,000. You and your client decide to dispute the appraisal. When reviewing the Comparable properties, you realize they were not best choices. Which of the following is not used to appraise properties? - ANSWER 1) Property located within the same neighborhood will hold the most weight - even "better" than matched properties located outside of the immediate area. 2) Property located within the same school district. 3) Similar properties based on square footage, lot size, condition, age, amenities and improvements. 4) [CORRECT ANSWER] Number of children living in the neighborhood. Qualifying as a bro