BBK99E1 Practical Final Exam
GUARANTEED PASS!!
Calvin is buying his first home. He has been saving and saving for years. The home he is buying
has a price of $300,000 and Calvin has a down payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged - (ANSWER)B
Adeeb has listed his condo with Maria's broker and she is his listing agent. The listing agreement
is signed and the day to begin showing his property is nearing. Adeeb decides the day before the
open house to raise his asking price by $20,000. Maria disagrees with the decision but goes along
with Adeeb's wishes. How must Maria take care of this contractual change in price?
Maria must change the listing price on a price change or extension form.
Maria may make the change on the original contract due to the fact the condo has not been
professionally shown by licensees.
The listing price change does not need to be changed on the contract. The price that will be paid
for the condo does not have to be the listing price; therefore, it is just a guide, not set in stone.
None of the Above. - (ANSWER)A
Although 16-year-old Tameka's goal is to be a licensed real estate salesperson in the State of
California, she is currently living in Canada. Her long-term goal is to be a successful salesperson,
manager, and to own a brokerage. She has been studying the Real Estate Principles Course for
next week's exam. However, if she passes, she cannot apply for her 4 year salesperson's license.
Why?
Tameka cannot apply for a 4-year salesperson because she has not completed three
college-level real estate courses.
Tameka is only sixteen and a licensee must be eighteen years old.
Tameka cannot provide proof of legal presence in the United States.
Both A and B - (ANSWER)D
Anthony is adding a new deck to his home. He has obtained all the necessary building permits to
construct his new deck. Anthony's neighbor, Steve, informed him he has to have a California
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, State Contractor's License to even work on his own property. Anthony says that Steve is wrong.
Who is right in this situation?
Anthony is correct, anyone who does the business of a contractor must be licensed.
Steve is correct, any major work conducted on real property must be done by a licensed state
contractor.
Anthony is correct. Anyone who does the business of a contractor must be licensed.
Unless, the property owner is planning to sell
the finished real estate project, he does not
need a license to work on his own property.
None of the Above. - (ANSWER)C
Janice has given her broker an earnest money deposit check with written instructions to hold the
check until the seller has accepted her offer. Her broker follows instructions and informs the
seller, through a telephone conversation with the seller's agent after the initial offer was
presented, the buyer's check is being held awaiting offer acceptance. Did Janice's broker handle
this situation correctly?
No, the broker must inform the seller in writing the buyer's check is being held until acceptance
of the offer.
Yes, the broker informed the seller of the stipulation on the negotiation of the check until offer
acceptance.
No, the broker must inform the seller of the buyer's check being held at the exact time the actual
offer is presented.
Both A and C - (ANSWER)D
Katie and Rich own a rental home they have put up FSBO. They've noticed the same woman has
accompanied several potential buyers viewing the home. Katie and Rich discover she is a broker
that has been "showing" the home on the sly without their permission. Instead of fighting this
aggressive salesperson, the couple just go along. In which manner was agency created?
Ostensible Agency
Ratification
Implied Agency
Written or Expressed - (ANSWER)A
Which of the following statements referring to general taxes is true?
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GUARANTEED PASS!!
Calvin is buying his first home. He has been saving and saving for years. The home he is buying
has a price of $300,000 and Calvin has a down payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged - (ANSWER)B
Adeeb has listed his condo with Maria's broker and she is his listing agent. The listing agreement
is signed and the day to begin showing his property is nearing. Adeeb decides the day before the
open house to raise his asking price by $20,000. Maria disagrees with the decision but goes along
with Adeeb's wishes. How must Maria take care of this contractual change in price?
Maria must change the listing price on a price change or extension form.
Maria may make the change on the original contract due to the fact the condo has not been
professionally shown by licensees.
The listing price change does not need to be changed on the contract. The price that will be paid
for the condo does not have to be the listing price; therefore, it is just a guide, not set in stone.
None of the Above. - (ANSWER)A
Although 16-year-old Tameka's goal is to be a licensed real estate salesperson in the State of
California, she is currently living in Canada. Her long-term goal is to be a successful salesperson,
manager, and to own a brokerage. She has been studying the Real Estate Principles Course for
next week's exam. However, if she passes, she cannot apply for her 4 year salesperson's license.
Why?
Tameka cannot apply for a 4-year salesperson because she has not completed three
college-level real estate courses.
Tameka is only sixteen and a licensee must be eighteen years old.
Tameka cannot provide proof of legal presence in the United States.
Both A and B - (ANSWER)D
Anthony is adding a new deck to his home. He has obtained all the necessary building permits to
construct his new deck. Anthony's neighbor, Steve, informed him he has to have a California
Page 1 of 15
, State Contractor's License to even work on his own property. Anthony says that Steve is wrong.
Who is right in this situation?
Anthony is correct, anyone who does the business of a contractor must be licensed.
Steve is correct, any major work conducted on real property must be done by a licensed state
contractor.
Anthony is correct. Anyone who does the business of a contractor must be licensed.
Unless, the property owner is planning to sell
the finished real estate project, he does not
need a license to work on his own property.
None of the Above. - (ANSWER)C
Janice has given her broker an earnest money deposit check with written instructions to hold the
check until the seller has accepted her offer. Her broker follows instructions and informs the
seller, through a telephone conversation with the seller's agent after the initial offer was
presented, the buyer's check is being held awaiting offer acceptance. Did Janice's broker handle
this situation correctly?
No, the broker must inform the seller in writing the buyer's check is being held until acceptance
of the offer.
Yes, the broker informed the seller of the stipulation on the negotiation of the check until offer
acceptance.
No, the broker must inform the seller of the buyer's check being held at the exact time the actual
offer is presented.
Both A and C - (ANSWER)D
Katie and Rich own a rental home they have put up FSBO. They've noticed the same woman has
accompanied several potential buyers viewing the home. Katie and Rich discover she is a broker
that has been "showing" the home on the sly without their permission. Instead of fighting this
aggressive salesperson, the couple just go along. In which manner was agency created?
Ostensible Agency
Ratification
Implied Agency
Written or Expressed - (ANSWER)A
Which of the following statements referring to general taxes is true?
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