Studygonlinegatghttps://quizlet.com/_eeg5rw
1. JoegAlphagofgABCgRealgEstategCorp.ghasgbeengverygsuccessfulgingbuyinggh
ouses,gfixinggthemgup,gandgresellinggthem.gHegputgangadvertisementgingthegloc
algnewspapergseekingginvestorsgtoghelpghimgpurchasegpropertygandgpaygforgre
novations,gpromisinggangexcellentgreturngonginvestmentgwhengthegpropertiesgs
old.gDogyougthinkgthatgJoegneedsgagsecuritiesgbroker-dealerglicense?:gNo
2. Elliegisgverygregimented.gSheglikesgtogbegingthegofficegbyg8ga.m.gandgbeghomeg
byg5:30gp.m.gSheglikesgthatgsamegprecisionginghergmonthlygbudget—
shegwantsgtogknowgwhat'sgcominggingandghowgmuchgshegcangexpectgtogputgint
oghergIRA.gShegisgaggoodgcandidategforgagcareergingrealgestategsales.:gFalse
3. Phil,gagrealgestateglicensee,gconsidersggoinggtogworkgforgJJgRealty.gBrokerg
JanagJamesgoffersghimgag60%-40%gsplitgongcommission.gIfgJJgRealtygtakesgin
$5,000gtotalgcommissiongongPhil'sgfirstgsale,gwhatgisgPhil'sgsplit?:g$3,000
4. Agrealgestateglicenseegisgmoreglikelygtogbegangemployeegofghisgbroker.:gFalse
5. Ifgagbrokergsupervisesgthegrealgestategactivitiesgofgangassociatedglicensee,g
thatglicenseegCANNOTgbegconsideredgangindependentgcontractor.:gFalse
6. Agrealgestateglicenseegwhogisgangindependentgcontractorgisgpaidgbasedgon
gsuccessfulgrealgestategtransactions,gnotgonghoursgworked.:gTrue
7. Genericallygspeaking,gagpersongwho,gforgagfee,gsells,glists,gleases,gexchanges,
gnegotiates,gorgotherwisegdealsgingthegrealgestategofgothersgorgrepresentsgpub-
gliclygthatgtheygdogso.:gBroker
8. Agbusinessgthatgservesgasgangintermediarygbetweengbuyersgandgsellers
gand/orglesseesgandglessorsgofgrealgestate.:gBrokerage
9. Insurancegthatgprotectsgrealgestateglicenseesgfromgliabilitygduegtogmistakesgor
gnegligence.gItgdoesgnotgcover gclaimsgrelatedgtogfraudgorgdiscrimination.:gErrors
gandgOmissionsgInsuranceg(E&O)
10. Undergcommonglaw,gagpersongwhogcontractsgtogdogagjobgforganothergbutg
maintainsgcontrolgoverghowgthegtaskgwillgbegcarriedgout,grathergthangfollowingg
detailedginstructions.:gIndependentgContractor
11. Agpersonglicensedgundergstateglawgtogpracticegrealgestate.:gLicensee
12. AnygrealgestateglicenseegwhogisgagmembergofgthegNationalgAssociationgofg
REALTORS®g(NAR)gandghisgorghergaffiliatedgstate/localgboards.gOnlygmembers
gmaygusegthegtermgREALTOR®gasgit'sgagregisteredgtrademarkgofgNAR.:gREAL-
gTOR®
13. Genericallygspeaking,gagrealgestateglicenseegagentgwhogisgassociatedgwithg
agbrokergandgasgsuchgmaygperformgmostgofgthegactsgagbrokergcangongbehalfgofg
thegbroker.gAlsogcalledgSalesgAssociate.:gSalesperson
14. Agrealgestateglicenseegwhogisgtreatedgasgangindependentgcontractorgforgtax
gpurposesgwhengspecifiedgconditionsgaregmet:gproperglicensing;gcompensatio
n
1g/g62
, ColibrigRealgEstate
Studygonlinegatghttps://quizlet.com/_eeg5rw
basedgongsales;gandgservicesgperformedgundergagwrittengcontract.:gStatutorygN
nemployee
15. Ingwhichgfieldgdogthegmajoritygofgnewglicenseesgbegingtheirgwork?:gResiden-
gtialgSales
16. WhichgisgNOTgangadvantagegtogagcareergingrealgestategsales?:gthegoptiongtog
doublegcommissiongpercentagesgduringgslowgmonths
17. LicenseegLouieghasgworkedgforgRick,gthegbrokergatgABCgRealty,gforg20gyears.
gLouieghasgbeengaccusedgofgnegligencegforgnotgdisclosinggagmaterialgfactgtogag
buyer.gWhichgstatementgisgTRUE?:gRickgcangbegheldgliablegforgLouie'sgmisconduct.
18. Atgthegendgofgthegyear,gwhatgtaxgformgwillgangindependentgcontractorgreceiveg
togdocumentgtheirgincome?:g1099-MISC
19. Whogcouldgagrealgestateglicenseegrepresentgingagrealgestategtransaction?g
Selectgallgcorrectgresponses.:gBuyers
LandlordsgSell
ersgTenants
Allgaregcorrect
20. Stevengjustgsuccessfullygfinishedghisgrequiredgrealgestategprelicensinggco
urse.gWhichgstatementgisgTRUE?:gOnceghegjoinsgthegNAR,ghegcangcallghimselfgagRE
ALTOR®.
21. Ingordergtogbegconsideredgangindependentgcontractor,gaglicensee'sgcompen-
gsationgmustgbe:gbasedgongsalesgproduced,gnotghoursgworked.
22. Forgagrealgestateglicensee,gwhichgisgNOTgagcharacteristicgthatgindicatesgthey
garegangindependentgcontractor?:gTheglicenseegmustgbegpaidgforghoursgspentgingthe
gbrokeragegoffice.
23. Whatgaregthegtasksgforgwhichgagpropertygmanagergisgtypicallygresponsible?g
Selectgallgcorrectgresponses.:gCollectinggRents
LeasinggUnits
MaintaininggTenantgRelationships
ManaginggthegMaintenancegandgRepairgofgthegBuilding
Allgaregcorrect
24. Thegtheorygofgsupplygandgdemandgstatesgthatgwhengsupplygexceedsgde-
gmand,gpricesgwillgfall.:gTrue
25. Realgestategcyclesgtendgtoglaggsomewhatgbehindggeneralgbusinessgcycles
gingresponsegtogsupplygandgdemand.:gTrue
2g/g62
, ColibrigRealgEstate
Studygonlinegatghttps://quizlet.com/_eeg5rw
26. Asgthegsupplygofghomesgingthegareagrises,gwhatgwouldgyougexpectgtoghappen
gtoghomegpricesgingthegshortgterm?:gHomegpricesgwillgfallgslightlygfromgtheirghighgp
oints.
27. WhengWidgetgmovesgout,gwhatgtypegofgmarketgisgBiggCityglikelygtogexperi-
gence?:gBuyer'sgMarket
28. Costginflationgcangaffectgnewghomegpricesgasgbuildersgpassgalonggtheir
ghighergcostsgforglaborgandgmaterials.:gTrue
29. Highergtaxesgtendgtogencouragegspendinggandginvesting.:gFalse
30. P-E-G-
S:gPhysicalgEconomic
gGovernment
Social
31. Agsituationgingtheghousinggmarketgwhengtheregaregmanyghomesgavailablegforg
sale,gbutgfewgbuyers.:gBuyer'sgMarket
32. Theginterestgrategthatgpeoplegorgbusinessesgmustgpaygtoguseganother's
gmoneygforgtheirgowngpurposes.:gCostgofgMoney
33. Thegmaingbusinessgorgindustrygingangareagthatgsupportsgandgsustainsgthe
gcommunity.:gEconomicgBase
34. Angincreasegingthegcostgofggoodsgorgservicesgorgtoogmanygpeoplegwanting
gtoogfew ggoods.:gInflation
35. Agcharacteristicgofgrealgproperty;geachgpiecegofgland,geachgbuilding,gandg
eachghousegisgaguniquegpiecegofgrealgestate.gAlsogcalledgUniquenessgorgHet-
gerogeneity.:gNon-Homogeneity
36. Generalgswingsgingrealgestategactivity,gresultinggingincreasinggorgdecreasing
gactivitygandgpropertygvalues,gduringgdifferentgphasesgofgthegcycle.:gRealgEstate
gCycles
37. Agphysicalgcharacteristicgofgrealgpropertygthatgsaysgtheregisgaglimitedgsupplyg
ofgrealgestate;gthegperceivedgsupplygofgaggoodgorgservicegrelativegtogthegdemandg
forgthegitem.:gScarcity
38. Agsituationgingtheghousinggmarketgwhengaglargegnumbergofgbuyersgareg
lookinggforghousesgingangareagofglimitedgavailability.:gSeller'sgMarket
39. Angeconomicgprinciplegthatgsaysgthatgforgallgproducts,ggoods,gandgservices
gwhengsupplygexceedsgdemand,gpricesgwillgfallgandgwhengdemandgexceedsgsu
pply,gpricesgwillgrise.:gSupplygandgDemand
40. Thesegassociatesgtakegandgapprovegloangapplications,gappraisegproperties,
gassessgrisk.gTheygcangfindgjobsgwithgsavingsgandgloangassociations,gmutualgs
avingsgbanks,gcommercialgbanks,gmortgagegcompanies,gendowments,gandgg
overnmentgagencies.:gRealgEstategFinance
3g/g62
, ColibrigRealgEstate
Studygonlinegatghttps://quizlet.com/_eeg5rw
41. Peoplegingthisgfieldgusegrigorousgappraisalgmethodsgtogevaluategpropertygf
orgfinancialginstitutions,gdevelopers,gpropertygmanagers,gorggovernmentgagen-
gcies.:gRealgEstategAppraisal
42. Thesegprofessionalsgpurchaseglargegtractsgofglandgatgaglowgcostgpergacre,
gthengsubdividegandgimprovegitgwithgstreets,gsewers,gandgutilitiesgsogitgcan
begresoldgatgaghighergcostgpergfrontgfootg(forglots)gorgpergsquaregfootg(forgbuildi
gs).:gRealgEstategDevelopment
43. Peoplegingthisgareagofgrealgestategbuildghomesgongcontractgorgspeculation.g
Theygmightgchoosegtogsell,gappraise,gmanage,gorghelpgbuyersgfinancegthegpro
perty.:gRealgEstategPropertygConstruction
44. Thisgisgaggrowinggfield.gMoregandgmoregbrokers,gbanks,gandglawyersgaregg
ettinggintogthisgservicegareagasgprofitgmarginsgaregshrinkinggelsewhere.gJobsgc
angincludegtitlegresearcher,gescrowgagent,gandgtitleginsurancegoverseer.:gRealg
EstategTitlegWork
45. Theregaregnumerousgnational,gstate,gandglocalgtradegassociationsgthatgwork
gtogeducate,globby,gsupportgmembers,gandgmanagegpublicgrelations.:gRealgEstat
egTradegAssociationgWork
46. Continuinggeducationgisgpartgofgmaintaininggagrealgestateglicense.gEduca-
gtorsghavegamplegopportunitiesgtogteachgthesegcourses.:gRealgEstategEducation.
47. ThisgworkgcangbegforgthegFHA,gVA,gFanniegMae,gGinniegMae,gFreddiegMac,g
andgHUDgandgforgstategandgcountygwork,gsuchgasgurbangplanning.:gRealgEstateg
GovernmentgWork
48. includegsingle-familygresidentialgproperties,gmulti-
familygpropertiesg(fromgagdoublegtogaglargegapartmentgbuilding),gcondominiu
ms,gorgcooperatives.gSpecializedgresidentialgpropertiesgcangincludegconverte
d-usegproperty,gman-
gufacturedghousing,gandgtimeshares.:gResidentialgproperties
49. includegoffices,gstores,ghotels,gandgothergbuildings.gThosegdealinggingcom-
gmercialgpropertiesgaregusuallyginvolvedgnotgonlygingsalesgandgothergaspectsg
ofgbrokerage,gbutgalsogingleasinggandgleasebacks,gpropertygmanagement,gand
gevengconstructiongorgfinancing.:gCommercialgproperties
50. includeglandgandgstructuresginvolvedgingthegproduction,gdistribution,gand
gstoragegofgtangiblegeconomicggoods.:gIndustrialgproperties
51. includegsellinggfarmsgorgsellingglargegareasgtogsubdividegandgdevelop.:gFarmg
andgvacantgland
52. Thisgvariesgbygagencygandgcangincludegfillinggoutgformsgandgcontracts,
gclosinggagsale,gsellinggyourgservices,gandgattractinggnew glistings.:gTrainin
g
53. Thesegaregthegtoolsg(websites,gemail,gonlinegforms),gadvertising,gandgstaff
4g/g62