Real Estate post-license test

Open listings may be either:

Callers on classified advertising ususally ask for the ____________ _____________

Percentage added to Adjustable Rate Mortgage is called the

The best source for Sales Associates to find FSBOs is the

3 components of title search:

owner lists his house with a broker but doesn't have to pay a commission if he sells his property himself. This is a/n ____________ _____________ listing

To ensure that no damage was was done to the home during moving a buyer should:

Three basic components of listening skills are:

Three keys to prospecting success are:

A broker must give a brokerage relationship disclosure for "single" and "no brokerage" relationships for residential sales. Name the three criteria for a property to qualify as a residential sale:

The Housing for Older Persons Act allows certain communities to be exempt from "family status" protection provided by the Fair Housing Act. If two conditions are met:

The Can-SPAM Act

The principle is responsible for the acts of his/her ____________ _____________

A reflecting method that is occasionally repeated is called ________________

The business cycle phase where consumers reduce spending is ________________

A sales associate receives a deposit on Thursday. If his/her broker holds the escrow account, the funds must be deposited no later than ____________

Potential Gross Income minus Vacancy and Collections equals _____________

Best source of listings for a new sales associate is __________ ____ ________

A fixed rate, amortized mortgage with 26 annual payments resulting in a faster payoff than a traditional 30 year mortgage is a ______ ______

Most individuals begin their real estate investment portfolio by buying a: _________ _________ _________

The three types of operating expenses of an income producing property are:

Apartments currently available for rent, in excellent condition and ready to show to prospects are on the _________ _________

The principle of conformity in a subdivision is protected by _________ _________

The last item to be covered when presenting an offer is _________

A non-cash expense that plans for the eventual wearing out of major property components is called __________ ____ ________

_________ is the illegal practice of charging higher interest rates for homes located in a minority area.

Long-term capital gains are taxed at a maximum rate of __ %

lf a sales contract describes each piece of personal property remaining with the property after the sale and includes a separate price for each piece:

When staging a home a seller should not

A licensee may prepare an appraisal if he/she is not involved in the sale and ____________

Name four characteristics you should look for when selecting a farm area:

Two successive year-to-year quarterly increases of the GDP is ____

Concerning the Junk Fax Protection Act what is the term for the following definition? A prior existing relationship formed by a voluntary two-way communication between persons, entities or businesses __________ ____ ________

What law prevents a private homeowner from discriminating against race when selling his/her home? ____________________

The Americans with Disabilities Act (ADA) does not protect persons with _______, ________, or _______

Name five (5) post closing duties

lf a sales associate employs a licensed assistant and pays him/her a salary and a percentage of commissions received, describe how they can be paid legally?

If one of the parties fails to perform within the time limits in a "time is of the essence" contract, a _________ occurs.

What organization awards the Certified Property Manager designation?

What are the eight requirements for a successful listing presentation?

A body of law that provides legal protection for certain valid contracts that are in writing and signed is __________ ____ ________

A contract contains a contingency that the appraisal be equal or greater than the sales price. It comes back lower this contract is: _______

A Seller and Buyer come to a verbal agreement for the sale of the Sellers home. The Buyers make an earnest money deposit of $3,000 to the Seller. This is a/n ______ contract.

What is the most appropriate type of transaction when using the FAR Sale Contract?

What are the five categories of Sales Associates potential leads?

To comply with the Americans with Disabilities Act how many parking spaces must be reserved for disabled persons?

If a Sales Associate leans back in his/her chair and joins their hands behind their head, theyare demonstrating _______ non-verbally.

The most important words in any sales presentation to demonstrate the benefits of a particular property are:
_______ _______ _______ _______

According to Florida law, five requirements that must be included in all written listing agreements are:

What two documents will convince a Seller that the Buyer is "ready, willing and able" to complete the transaction?

A listing agreement contains a provision that says if the seller does nothing when the listing reaches the expiration date, the listing will automatically be extended for an additional 90 days. This listing is _________

The reason a buyer might ride by a listing without stopping, is because it lacks

The Federal law requiring women and minorities be treated fairty when applying for s loan is ___________ Act

What are the four loan processing procedures?

The reason a Sales Associate might recommend a Buyer make a 20% rather 15% downpayment is:

If one spouse isn't available to sign a Contract to Purchase, and the parties wish to have the absent spouses' name included on the deed, they should:

The Sales Associate's primary objective when answering an ad call:

A pricing pyramid demonstrates that the best comparison for pricing a home comes from

When a Sales Associate repeats what his/her customer says exactly, this is called:

A Sales Associate is representing a Seller as single agent and finds out something from the buyer that would affect his/her ability to obtain financing for the property. The Sales Associate should _________________________

In the event a Seller defaults when using the FAR Residential Sales Contract, the buyer may

lf the buyer prospect needs to sell their current home before they purchase:

How is prepaid interest calculated on a new loan closing on October 20th?

A technique in the textbook to help sellers favor your buyers.·

Two brokers from different companies meet and decide to charge the same commission rates. This is a violation of ________

In accordance with the Americans with Disabilities Act, "must be removed if it is readily achievable", means ___________________

Jim added an extra garage stall to his house that cost $25.000. When he sold the house the appraiser added $7,000 value for the extra stall. This demonstrates the principle of:

A Sales Associate prepares a Seller Net Sheet for her Sellers closing on June 15th, Taxes are estimated at $12,000 and interest for June is $2,700. The entries she should make on the statement are:

An appraiser estimates the subject property to be in better condition than the com parables, to which he/she assigns a value of $6,000. The subject has three bedrooms while the comparable has four. The appraiser assigns $12,000 to the value of a bedroom. The adjustment is _________

The format for an open listing can be

A legal description for a listing should not be taken from

The definition of a nominee loan is:

Name six important points to remember when making prospecting calls.

Discuss four areas of Florida Statute 479 that have changed due to mortgage fraud.

Regarding the closing papers required for a closing the Sales Associate should:

What are some questions to ask when qualifying buyers?

If you are presenting a buyers offer with the listing agent you should not:

At closing a seller will be required to sign an affidavit that:

When a Sales Associate is talking with a FSBO, who says they won't list their house becausethey'll just have an attorney write the contract, a good response might be:

Discuss at least 6 areas that should be covered when explain the pricing process during the listing presentation:

Sellers equity