TEXAS REAL ESTATE BROKERAGE SAE CMAMPION
COMPLETE ACTUAL TEST QUESTIONS AND WELL
ELABORATED ANSWERS (100% CORRECT VERIFIED
ANSWERS) A NEW UPDATED VERSION 2024 |ALREADY
GRADED A+ (BRAND NEW!!)
Two things you will need to review regularly include ____________ documents, as
well as external industry and ________ trends. - ANSWER: operating; economic
Operating documents include: - ANSWER: Budgets
Financial statements
Transaction records
Business and strategic plans
This includes the number of sales, rising or falling income and expenses, and
whether the market is strong, weak, or neutral. - ANSWER: Evaluate the firm's
current position.
This includes a growth or decline in sales, an increase or decrease in expenses, and
new market opportunities and conditions. - ANSWER: Use current and past
information to forecast growth and income potential.
Are there increased or reduced expenditures coming? Will the firm need to generate
additional revenue, diversify, or downsize? - ANSWER: Make adjustments to position
the firm for what lies ahead.
Four key factors drive the real estate market. - ANSWER: demographics, interest
rates, the economy, and government policies.
A real estate brokerage relies on three main categories of information—financial,
transactional, and industry-specific data—to guide its operations. - ANSWER: true
A zettabyte is equal to ____ trillion gigabytes - ANSWER: 1.3
revelations that can be gleaned from transactional data: - ANSWER: Average days on
market (DOM) data
Disparity in listing vs. selling price
Terminated/expired listing information
Rocky closings
he general rule is ______________ years for record keeping - ANSWER: four to seven
State laws and regulations don't determine how long records must be kept.
True
False
, The general IRS rule for retaining supporting tax documents is four to seven years.
True
False
Being careful to save only those records that you need not only saves space, but also
keeps you from wading through tons of unusable records to find what you need.
True
False
Failure to retain transaction records as required may result in your state taking legal
action.
True
False - ANSWER: False
True
True
False
SSPs include real estate licensees, lenders, title companies, home warranty
companies, home and pest inspectors, hazard insurance agents, and appraisers,
among others. - ANSWER: true
Real Estate Settlement Procedures Act (RESPA) is a federal law that prohibits:
Real estate licensees from receiving any "thing of value" for referring business to a
settlement service provider (SSP) - ANSWER: true
Real Estate Settlement Procedures Act (RESPA) is a federal law that prohibits SSPs
from splitting fees received for settlement services, unless the fee is for a service
actually performed. - ANSWER: true
There are some exceptions to these RESpa prohibitions. One such exemption is made
for affiliated business arrangements. This says that real estate licensees may own an
interest in an SSP, provided that the licensee follows the RESPA-outlined rules for
such an arrangement, and discloses its relationship with the SSP to the consumer. -
ANSWER: true
A brokerage firm considering vertical expansion should give thought to the impact of
________.
Regulation Z, because it limits the kinds of advertising and marketing allowed
The MLS, because it prohibits firms from listing both residential and agricultural or
commercial properties
COMPLETE ACTUAL TEST QUESTIONS AND WELL
ELABORATED ANSWERS (100% CORRECT VERIFIED
ANSWERS) A NEW UPDATED VERSION 2024 |ALREADY
GRADED A+ (BRAND NEW!!)
Two things you will need to review regularly include ____________ documents, as
well as external industry and ________ trends. - ANSWER: operating; economic
Operating documents include: - ANSWER: Budgets
Financial statements
Transaction records
Business and strategic plans
This includes the number of sales, rising or falling income and expenses, and
whether the market is strong, weak, or neutral. - ANSWER: Evaluate the firm's
current position.
This includes a growth or decline in sales, an increase or decrease in expenses, and
new market opportunities and conditions. - ANSWER: Use current and past
information to forecast growth and income potential.
Are there increased or reduced expenditures coming? Will the firm need to generate
additional revenue, diversify, or downsize? - ANSWER: Make adjustments to position
the firm for what lies ahead.
Four key factors drive the real estate market. - ANSWER: demographics, interest
rates, the economy, and government policies.
A real estate brokerage relies on three main categories of information—financial,
transactional, and industry-specific data—to guide its operations. - ANSWER: true
A zettabyte is equal to ____ trillion gigabytes - ANSWER: 1.3
revelations that can be gleaned from transactional data: - ANSWER: Average days on
market (DOM) data
Disparity in listing vs. selling price
Terminated/expired listing information
Rocky closings
he general rule is ______________ years for record keeping - ANSWER: four to seven
State laws and regulations don't determine how long records must be kept.
True
False
, The general IRS rule for retaining supporting tax documents is four to seven years.
True
False
Being careful to save only those records that you need not only saves space, but also
keeps you from wading through tons of unusable records to find what you need.
True
False
Failure to retain transaction records as required may result in your state taking legal
action.
True
False - ANSWER: False
True
True
False
SSPs include real estate licensees, lenders, title companies, home warranty
companies, home and pest inspectors, hazard insurance agents, and appraisers,
among others. - ANSWER: true
Real Estate Settlement Procedures Act (RESPA) is a federal law that prohibits:
Real estate licensees from receiving any "thing of value" for referring business to a
settlement service provider (SSP) - ANSWER: true
Real Estate Settlement Procedures Act (RESPA) is a federal law that prohibits SSPs
from splitting fees received for settlement services, unless the fee is for a service
actually performed. - ANSWER: true
There are some exceptions to these RESpa prohibitions. One such exemption is made
for affiliated business arrangements. This says that real estate licensees may own an
interest in an SSP, provided that the licensee follows the RESPA-outlined rules for
such an arrangement, and discloses its relationship with the SSP to the consumer. -
ANSWER: true
A brokerage firm considering vertical expansion should give thought to the impact of
________.
Regulation Z, because it limits the kinds of advertising and marketing allowed
The MLS, because it prohibits firms from listing both residential and agricultural or
commercial properties
