BBK99E1 Practical Final
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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 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?
General taxes are Ad Valorem taxes.
General taxes are used for the general operation of the governmental agency
authorized to impose the taxes.
Real property tax (general taxes) are based on the assessed valuation of the property.
All of the Above - Answer✅✅D
Ross, a newly licensed residential real estate appraiser, is on his way to appraise his
very first piece of property. He is nervous on the way to the property and is going
through the appraisal process in his head. Please help Ross put the appraisal steps in
order.
State the problem. Gather, record and verify the necessary data. Analyze and
interpret. Neighborhood analysis. Neighborhood cycle. Site analysis.
Exam|Brand New Exam Questions
with 100% Correct Clear Verified
Answers| All Graded A+|latest
Premium Update|100%
Guaranteed Success.
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 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?
General taxes are Ad Valorem taxes.
General taxes are used for the general operation of the governmental agency
authorized to impose the taxes.
Real property tax (general taxes) are based on the assessed valuation of the property.
All of the Above - Answer✅✅D
Ross, a newly licensed residential real estate appraiser, is on his way to appraise his
very first piece of property. He is nervous on the way to the property and is going
through the appraisal process in his head. Please help Ross put the appraisal steps in
order.
State the problem. Gather, record and verify the necessary data. Analyze and
interpret. Neighborhood analysis. Neighborhood cycle. Site analysis.
