45 Hour Post Licensing Exam
A married couple have prequalified for a $240,000 conventional mortgage. If
they put 20% down, they can buy a house for - ANS $300,000
What facts need not be disclosed in a real estate transaction? - ANS 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? - ANS 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? - ANS
$100,534
Filing a suit to quiet title is used when - ANS a title defect is found, which
is difficult to remove by ordinary means.
What are the benefits of restrictive covenants? - ANS Maintain and
enhance value
,What's the downside for a principal who has a single agent? - ANS
Responsible for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as
unenforceable? - ANS Unwritten agreement
Aside from a property's location, what is the most important factor that
influences market value? - ANS Highest and best use
The margin is - ANS 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? - ANS $107,500
How often do mortgage loan originators need to have a criminal
background check? - ANS Every year
A written listing agreement with a self-renewing clause - ANS is void.
When you explain the pricing process during a listing presentation, you
would NOT ordinarily discuss - ANS the process of closing a sale.
, What are the three keys to prospecting success? - ANS 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 - ANS paraphrasing.
Which party may pay a licensed personal assistant for selling activities? -
ANS 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 - ANS 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 - ANS a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a
while longer, the salesperson should - ANS ask permission to prepare the
paperwork as if they were buying, then go over it.
A married couple have prequalified for a $240,000 conventional mortgage. If
they put 20% down, they can buy a house for - ANS $300,000
What facts need not be disclosed in a real estate transaction? - ANS 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? - ANS 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? - ANS
$100,534
Filing a suit to quiet title is used when - ANS a title defect is found, which
is difficult to remove by ordinary means.
What are the benefits of restrictive covenants? - ANS Maintain and
enhance value
,What's the downside for a principal who has a single agent? - ANS
Responsible for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as
unenforceable? - ANS Unwritten agreement
Aside from a property's location, what is the most important factor that
influences market value? - ANS Highest and best use
The margin is - ANS 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? - ANS $107,500
How often do mortgage loan originators need to have a criminal
background check? - ANS Every year
A written listing agreement with a self-renewing clause - ANS is void.
When you explain the pricing process during a listing presentation, you
would NOT ordinarily discuss - ANS the process of closing a sale.
, What are the three keys to prospecting success? - ANS 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 - ANS paraphrasing.
Which party may pay a licensed personal assistant for selling activities? -
ANS 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 - ANS 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 - ANS a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a
while longer, the salesperson should - ANS ask permission to prepare the
paperwork as if they were buying, then go over it.
