45 Hour Post Licensing Exam |100 Questions|
With All Correct Answers.
A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they
can buy a house for
$300,000
What facts need not be disclosed in a real estate transaction?
The property was the site of a homicide.
What is a good graphic to show a seller that there will be more activity if the property is competitively
priced?
The pricing pyramid
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorations
for taxes and interest are $5,036. The mortgage payoff is $181,500. What are the seller's proceeds
from the sale?
$100,534
Filing a suit to quiet title is used when
a title defect is found, which is difficult to remove by ordinary means.
What are the benefits of restrictive covenants?
Maintain and enhance value
What's the downside for a principal who has a single agent?
Responsible for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as unenforceable?
Unwritten agreement
Aside from a property's location, what is the most important factor that influences market value?
Highest and best use
The margin is
the percentage added to the index of an adjustable-rate mortgage that results in the calculated rate.
A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's equity?
$107,500
How often do mortgage loan originators need to have a criminal background check?
Every year
A written listing agreement with a self-renewing clause
is void.
, When you explain the pricing process during a listing presentation, you would NOT ordinarily discuss
the process of closing a sale.
What are the three keys to prospecting success?
Organization, numbers, and consistency
A sales associate, to test his understanding of what the customer has said, uses words that are similar,
but not exactly the same as the customer's. This is called
paraphrasing.
Which party may pay a licensed personal assistant for selling activities?
It is not legal to pay a personal assistant—whether licensed or unlicensed—a portion of a real estate
commission.
In a relatively new neighborhood with 524 homes, 72 houses were sold. The turnover index in this
neighborhood is
13.7% // 7%. 72 houses sold ÷ 524 total homes = .137 or 13.7%
The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best for
a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while longer, the
salesperson should
ask permission to prepare the paperwork as if they were buying, then go over it.
An exclusive agency listing is used when
an owner lists with a broker on the basis that if the property is sold by a broker, the broker is entitled
to a commission, but if the owner sells his own property, he owes no commission.
If a selling sales associate attempts to present an offer without the listing agent being present,
it would likely alienate the seller because the seller has more trust in the listing sales associate.
A single agent broker must give a brokerage relationship disclosure when a transaction is
the sale of a duplex.
A woman had a fourth bedroom built onto her house last year that cost $75,000. A recent appraisal
valued the bedroom at $52,000. This demonstrates the principle of
contribution.
When should the price be covered when presenting an offer?
Last
At what rate do taxpayers pay for short-term capital gains?
With All Correct Answers.
A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they
can buy a house for
$300,000
What facts need not be disclosed in a real estate transaction?
The property was the site of a homicide.
What is a good graphic to show a seller that there will be more activity if the property is competitively
priced?
The pricing pyramid
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorations
for taxes and interest are $5,036. The mortgage payoff is $181,500. What are the seller's proceeds
from the sale?
$100,534
Filing a suit to quiet title is used when
a title defect is found, which is difficult to remove by ordinary means.
What are the benefits of restrictive covenants?
Maintain and enhance value
What's the downside for a principal who has a single agent?
Responsible for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as unenforceable?
Unwritten agreement
Aside from a property's location, what is the most important factor that influences market value?
Highest and best use
The margin is
the percentage added to the index of an adjustable-rate mortgage that results in the calculated rate.
A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's equity?
$107,500
How often do mortgage loan originators need to have a criminal background check?
Every year
A written listing agreement with a self-renewing clause
is void.
, When you explain the pricing process during a listing presentation, you would NOT ordinarily discuss
the process of closing a sale.
What are the three keys to prospecting success?
Organization, numbers, and consistency
A sales associate, to test his understanding of what the customer has said, uses words that are similar,
but not exactly the same as the customer's. This is called
paraphrasing.
Which party may pay a licensed personal assistant for selling activities?
It is not legal to pay a personal assistant—whether licensed or unlicensed—a portion of a real estate
commission.
In a relatively new neighborhood with 524 homes, 72 houses were sold. The turnover index in this
neighborhood is
13.7% // 7%. 72 houses sold ÷ 524 total homes = .137 or 13.7%
The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best for
a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while longer, the
salesperson should
ask permission to prepare the paperwork as if they were buying, then go over it.
An exclusive agency listing is used when
an owner lists with a broker on the basis that if the property is sold by a broker, the broker is entitled
to a commission, but if the owner sells his own property, he owes no commission.
If a selling sales associate attempts to present an offer without the listing agent being present,
it would likely alienate the seller because the seller has more trust in the listing sales associate.
A single agent broker must give a brokerage relationship disclosure when a transaction is
the sale of a duplex.
A woman had a fourth bedroom built onto her house last year that cost $75,000. A recent appraisal
valued the bedroom at $52,000. This demonstrates the principle of
contribution.
When should the price be covered when presenting an offer?
Last
At what rate do taxpayers pay for short-term capital gains?
