BBK99E1 PRACTICAL FINAL EXAM GUARANTEED PASS!!
1. Calvinis 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: B
2. 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 th
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.: A
3. 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: D
4. Anthony is adding a new deck to his home. He has obtained all the
neces- sary 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 mus
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.: C
5. 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
1. Calvinis 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: B
2. 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 th
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.: A
3. 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: D
4. Anthony is adding a new deck to his home. He has obtained all the
neces- sary 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 mus
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.: C
5. 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
