Gold Coast 45 Hour Post L icensing Exam Questions and Answers 100% Correct A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - Answer $300,000 What facts need not be disclosed in a real estate transaction? - Answer The property was the sit e of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - Answer The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. P rorations for taxes and interest are $5,036. The mortgage payoff is $181,500. What are the seller's proceeds from the sale? - Answer $100,534 Filing a suit to quiet title is used when - Answer a title defect is found, which is difficult to remove by ordinary means. What are the benefits of restrictive covenants? - Answer Maintain and enhance value What's the downside for a principal who has a single agent? - Answer Responsible for the single agent's acts What is the likely cause of a contract for sale of real estate being ruled as unenforceable? - Answer Unwritten agreement Aside from a property's location, what is the most important factor that influences market value? - Answer Highest and best use The margin is - Answer the percentage added to the index of an adjustable -
rate mortgage that results in the calculated rate. A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's equity? - Answer $107,500 How often do m ortgage loan originators need to have a criminal background check? - Answer Every year A written listing agreement with a self -renewing clause - Answer is void. When you explain the pricing process during a listing presentation, you would NOT ordin arily discuss - Answer the process of closing a sale. What are the three keys to prospecting success? - Answer Organization, numbers, and consistency A sales associate, to test his understanding of what the customer has said, uses words that are si milar, but not exactly the same as the customer's. This is called - Answer paraphrasing. Which party may pay a licensed personal assistant for selling activities? - Answer It is not legal to pay a personal assistant —whether licensed or unlicensed —a portion of a real estate commission. In a relatively new neighborhood with 524 homes, 72 houses were sold. The turnover index in this neighborhood is - Answer 13.7% // 7%. 72 houses sold ÷ 524 total homes = .137 or 13.7% The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best for - Answer a residential sale. Sometimes when a buyer is not quite ready and wants to think about it a while longer, the salesperson should - Answer ask permission to prepare the paperwork as if they were buying, then go over it. An exclusive agency listing is used when - Answer an owner lists with a broker on the basis that if the property is sold by a broker, the broker is entitled to a commission, but if the owner sells his own property, he owes no commission.
rate mortgage that results in the calculated rate. A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's equity? - Answer $107,500 How often do m ortgage loan originators need to have a criminal background check? - Answer Every year A written listing agreement with a self -renewing clause - Answer is void. When you explain the pricing process during a listing presentation, you would NOT ordin arily discuss - Answer the process of closing a sale. What are the three keys to prospecting success? - Answer Organization, numbers, and consistency A sales associate, to test his understanding of what the customer has said, uses words that are si milar, but not exactly the same as the customer's. This is called - Answer paraphrasing. Which party may pay a licensed personal assistant for selling activities? - Answer It is not legal to pay a personal assistant —whether licensed or unlicensed —a portion of a real estate commission. In a relatively new neighborhood with 524 homes, 72 houses were sold. The turnover index in this neighborhood is - Answer 13.7% // 7%. 72 houses sold ÷ 524 total homes = .137 or 13.7% The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best for - Answer a residential sale. Sometimes when a buyer is not quite ready and wants to think about it a while longer, the salesperson should - Answer ask permission to prepare the paperwork as if they were buying, then go over it. An exclusive agency listing is used when - Answer an owner lists with a broker on the basis that if the property is sold by a broker, the broker is entitled to a commission, but if the owner sells his own property, he owes no commission.
