a. $50,000 for a single person
b. $4,000 from assessed value
c. $7,000 froma assessed value
d. the first $100,000 of assessed value
The homeowner's property tax exemption is....
100
a. pleasing owners because they indicate activity
b. locating buyers for other properties
c. obtaining leads for listings
d. all of the above
Advantages of open houses include......
100
a. agent failed to hold an open house
b. property was in an undesireable area
c. home was not competitively priced
d. agent did not advertise enough
The most likely reason that a listing expires unsold is that the.......
100
a. closing statement
b. beneficiary statement
c. reconveyance
d. impound statement
To determine the balance due on a loan, escrow requests a.......
100
a. environmental hazards
b. floods, tornados and earthquakes
c. foreclosure rights
d. rescission rights
A buyer signs that he or she has received a booklet relating to.......
200
a. shorter term loan
b. fixed rate loan
c. another property
d. another borrower
A convertible ARM is a loan that can be changed to.....
200
a. feedback
b. the gambler syndrome
c. buyer's remorse
d. negative motivation
Many buyers have second thoughts after placing an offer. This buyer apprehension is commonly known as......
200
a. the commission percentage
b. communications
c. price
d. the length of the listing
The reason that an expired listing was not extended with the original listing agent most likely is dissatisfaction with.....
200
a. paying referral fees to anyone other than an employee of the escrow company
b. bonding employees
c. both a and c
d. neither a nor b
An escrow is prohibited from......
200
a. it applies to one to four residential units
b. it applies only to homes built prior to 1930
c. the buyer can waive his or her rights to a hazard report
d. delivery of a copy of "the homeowner's guide to earthquake safety" is evidenced by an affidavit from the agent.
Which of the following is true about earthquake safety disclosures?
300
a. real estate property taxes
b. income taxes
c. estate taxes
d. sales taxes
The months of November, December, February and April relate to.......
300
a. satisfied with the area
b. looking for a more expensive home
c. statisfied with the general exterior appearance
d. both a and c
Callers from a for sale sign are likely to be.....
300
a. keep track of escrow progress
b. make certain all papers are signed by the parties
c. make certain that conditions are being met
d. all of the above
After an offer is accepted, the listing agent should......
300
a. Interest
b. Fire Insurance
c. Brokers Commission
d. Property Taxes
Which of the following is NOT normally prorated?
300
a. all types of property
b. accessible and inaccessible areas
c. a visual inspection only
d. none of the above
Under Easton, an agent's duty of inspection and disclosure covers............
400
a. higher payments if interest rates increase
b. a longer payment period if interest rates increase
c. that the margin will increase
d. none of the above
a danger that an adjustable rate mortgage poses to a buyer is......
400
a. instructions to be present so they can volunteer information
b. cleaning instructions
c. landscaping instructions
d. repair instructions
Agent advice to owners on showing their home would not include......
400
a. a lawful purpose
b. mutual consent
c. consideration
d. all of the above
A valid exclusive listing requires......
400
a. 28 days
b. 29 days
c. 30 days
d. 31 days
Proration of expenses and income is based on a month with........
400
a. liquidated damages
b. vesting if title
The paragraph in the purchase contract in which the buyer indicates an intention to occupy the property applies to one to four residential units is important because it relates to..............
500
a. gross housing cost to gross income
b. gross income to gross housing cost
c. net housing cost to net income
d. none of the above
The front end loan qualifying ratio is the ratio of.....
500
a. California Property Manager
b. Certified Property Manager
c. Certified Professional Manager
d. None of the above
The term CPM refers to a........
500
a. escrow does not have to close for an agent to be entitled to a commission
b. it must have a termination date for the agent to be able to collect a commission
c. the agent must give the owner a copy of the lsiting when the owner signs
d. the agent is precluded from working with other agents to sell the property
All of the following are true regarding an exclusive right to sell listing except.....
500
a. purchase price
b. escrow costs
c. title insurance
d. first trust deed assumed
Which of the following is a credit to the buyer on the buyer's closing statement?
500
a. make all exsisting reports known to buyer
b. fill out all disclosures for seller
c. make representations about pernits
d. refrain from disclosing anything that can materially affect value or desireability.