WITH 100% CORRECT AND VERIFIED
(1) 1. The real estate marketplace could BEST be described as being
A. homogeneous
B. stratified
C. perfect
D. uninfluenced by emotion - ANSWER B. stratified (based on price)
(1) 2. Most real estate agents are primarily engaged in which area of activity
A. residential property
B. raw land and lots
C. commercial property
D. development - ANSWER A. residential property
(1) 3. The IRS will treat real estate salespeople as independent contractors if 3 criteria are
met. Which is not a criteria
A. The salesperson's reimbursement is solely based on sales, not hours worked
B. The salesperson represents himself as an independent contractor when dealing with third
parties
C. There is a written contract stating that the salesperson will be treated as an independent
contractor for tax purposes
D. The salesperson is licensed as a real estate agent - ANSWER B. The salesperson
represents himself as an independent contractor when dealing with third parties ( merely
representing oneself as an independent contractor would be a violation of disclosure
requirements and is not considered to be an IRS criteria)
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Wicky
,(1) 4. A broker ordinarily would be liable to salespeople for
A. unemployment compensation
B. workers' compensation
C. Social Security contributions
D. none of these - ANSWER B. workers' compensation (for work related injuries)
(1) 5. In choosing a broker, a new licensee should be LEAST interested in an office that
A. has a high percentage of successful people
B. has a good library of books, tapes, and videos for training
C. offers 100% commission
D. is a member of a local multiple listing service - ANSWER C. offers 100% commission
(new licensees should remember training is more important than commission split)
(1) 6. The BEST way to learn is to
A. listen to what others say
B. read instructional material
C. watch what others do
D. use the ideas you observe or read about - ANSWER D. use the ideas you observe or
read about (by using ideas, they become yours)
(1) 7. Which of the following statements is true about role-playing
A. Role-playing situations are limited only by our own imagination
B. Role-playing can be verbalized or nonverbalized
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Wicky
,C. Role-playing exercises can involve more than one person
D. All of these - ANSWER D. All of these
(1) 8. Which statement is an example of a specific goal
A. I will work harder next week
B. I will improve my listing presentation
C. I will make 10 calls tomorrow on for-sale-by-owner ads and schedule three property
showings by Sunday
D. I will learn by observing successful agents - ANSWER C. I will make 10 calls
tomorrow on for-sale-by-owner ads and schedule 3 property showings by Sunday ( exact
goals are measurable )
(1) 9. All of the following will aid you in goal achievement EXCEPT
A. that goals should be attainable
B. that goals should be based on what you really want
C. that goals should be kept to yourself because they are personal
D. that goals should be exact so that you can measure their attainment - ANSWER C.
that goals should be kept to yourself because they are personal (goals should be shared so
you are accountable for making them. when no one knows the goals, it is easier to abandon
them)
(1) 10. Proper daily planning means that you should endeavor to
A. reduce "D" Time activities
B. increase "A" Time activities
C. place more emphasis on probabilities than on possibilities
D. accomplish all of these - ANSWER D. accomplish all of these
3
Wicky
, (2) 1. Three brokers agreed that they would not let a fourth broker show any of their listings.
This action would be regarded as
A. a group boycott
B. price-fixing
C. market allocations
D. a tie-in agreement - ANSWER A. a group boycott
(2) 2. Ethics' relationship to law is that
A. if an act is illegal it is also unethical
B. ethics tend to precede the law
C. ethics and the law both set minimum standards for behavior
D. what is ethical is legal - ANSWER B. ethics tend to precede the law
(2) 3. Which of the following phrases would be considered nondiscriminatory in an
advertisement for a rental
A. Christian family
B. Prefer working married couple
C. Just two blocks to St. Michael's
D. None of these - ANSWER D. None of these
(2) 4. A broker with a disabled employee widened the doorway to the restroom to
accommodate a wheelchair. This work was performed to comply with
A. Civil Rights Act of 1866
B. Americans with Disabilities Act
C. Rumford Act
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Wicky
(1) 1. The real estate marketplace could BEST be described as being
A. homogeneous
B. stratified
C. perfect
D. uninfluenced by emotion - ANSWER B. stratified (based on price)
(1) 2. Most real estate agents are primarily engaged in which area of activity
A. residential property
B. raw land and lots
C. commercial property
D. development - ANSWER A. residential property
(1) 3. The IRS will treat real estate salespeople as independent contractors if 3 criteria are
met. Which is not a criteria
A. The salesperson's reimbursement is solely based on sales, not hours worked
B. The salesperson represents himself as an independent contractor when dealing with third
parties
C. There is a written contract stating that the salesperson will be treated as an independent
contractor for tax purposes
D. The salesperson is licensed as a real estate agent - ANSWER B. The salesperson
represents himself as an independent contractor when dealing with third parties ( merely
representing oneself as an independent contractor would be a violation of disclosure
requirements and is not considered to be an IRS criteria)
1
Wicky
,(1) 4. A broker ordinarily would be liable to salespeople for
A. unemployment compensation
B. workers' compensation
C. Social Security contributions
D. none of these - ANSWER B. workers' compensation (for work related injuries)
(1) 5. In choosing a broker, a new licensee should be LEAST interested in an office that
A. has a high percentage of successful people
B. has a good library of books, tapes, and videos for training
C. offers 100% commission
D. is a member of a local multiple listing service - ANSWER C. offers 100% commission
(new licensees should remember training is more important than commission split)
(1) 6. The BEST way to learn is to
A. listen to what others say
B. read instructional material
C. watch what others do
D. use the ideas you observe or read about - ANSWER D. use the ideas you observe or
read about (by using ideas, they become yours)
(1) 7. Which of the following statements is true about role-playing
A. Role-playing situations are limited only by our own imagination
B. Role-playing can be verbalized or nonverbalized
2
Wicky
,C. Role-playing exercises can involve more than one person
D. All of these - ANSWER D. All of these
(1) 8. Which statement is an example of a specific goal
A. I will work harder next week
B. I will improve my listing presentation
C. I will make 10 calls tomorrow on for-sale-by-owner ads and schedule three property
showings by Sunday
D. I will learn by observing successful agents - ANSWER C. I will make 10 calls
tomorrow on for-sale-by-owner ads and schedule 3 property showings by Sunday ( exact
goals are measurable )
(1) 9. All of the following will aid you in goal achievement EXCEPT
A. that goals should be attainable
B. that goals should be based on what you really want
C. that goals should be kept to yourself because they are personal
D. that goals should be exact so that you can measure their attainment - ANSWER C.
that goals should be kept to yourself because they are personal (goals should be shared so
you are accountable for making them. when no one knows the goals, it is easier to abandon
them)
(1) 10. Proper daily planning means that you should endeavor to
A. reduce "D" Time activities
B. increase "A" Time activities
C. place more emphasis on probabilities than on possibilities
D. accomplish all of these - ANSWER D. accomplish all of these
3
Wicky
, (2) 1. Three brokers agreed that they would not let a fourth broker show any of their listings.
This action would be regarded as
A. a group boycott
B. price-fixing
C. market allocations
D. a tie-in agreement - ANSWER A. a group boycott
(2) 2. Ethics' relationship to law is that
A. if an act is illegal it is also unethical
B. ethics tend to precede the law
C. ethics and the law both set minimum standards for behavior
D. what is ethical is legal - ANSWER B. ethics tend to precede the law
(2) 3. Which of the following phrases would be considered nondiscriminatory in an
advertisement for a rental
A. Christian family
B. Prefer working married couple
C. Just two blocks to St. Michael's
D. None of these - ANSWER D. None of these
(2) 4. A broker with a disabled employee widened the doorway to the restroom to
accommodate a wheelchair. This work was performed to comply with
A. Civil Rights Act of 1866
B. Americans with Disabilities Act
C. Rumford Act
4
Wicky
