which statement about buyers is true? which statement about buyers is true?

c) have more paperwork than government-backed loans. b) It could be a violation of state licensing laws. B) segment identification 14) In an effort to make it possible for veterans returning from World War II to purchase a home, the Veterans Administration offered the opportunity for veterans to purchase a home with. a) deed. b. Transactional and collaborative relationships What type tenant is Mary? For example, ________ can show the firm which brands are most competitive with its own. The buyers love the landscaping improvements the sellers have made. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. LO: 6.3: What are the different levels of market segmentation? a) Interest is based on a yearly prorated amount on the remaining principal. #12. Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve: Close buyer-seller relationships have many advantages for a firm, but one key disadvantage is: B) long-term commitments to another organization reduce flexibility for a firm. b) Interest is determined by the debt-to-loan ratio. Which of the following statements about selling a home as-is in North Carolina is true? Diff: 2 #6. LO: 6.2: How should a company choose the most attractive target markets? 1) Which of the following documents is not one that will be needed at closing? When a business marketer demonstrates special skills in managing relationships with key customers or by developing innovative strategies with alliance partners, they are trying to create: d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. 4) What is the purpose of the Lawyers' Fund? c) homeowner's insurance. Which of the following is true regarding the Residential Property and Owner's Association Disclosure Statement? A. it must contain a nondiscriminatory clause, B. it may be oral up to presentation of the first offer, C. it requires the seller to sell if a full price offer is made by a buyer, D. it can contain an automatic renewal clause if both parties agree to it in writing, it must contain a nondiscriminatory clause. Value can be defined as the _____ benefits received by a customer firm in exchange for the price paid for a product offering. a) Margin b) Index c) Payment cap d) Rate cap. c) It is not voidable. 11) What type of loan is often used when a seller will not accept a property sale contingency? Unit quiz 11 Flashcards by Ron Jeremy | Brainscape b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. \text { Name } & \text { Number of Shares } & \text { Total Cost } & \text { Total Fair Value } \\ b. technical Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. Trust C) situational factors c. A strategic alliance a) The borrower must occupy the property. C) concentrated LO: 6.2: How should a company choose the most attractive target markets? e. Interfirm cooperation. AACSB: Reflective thinking. _____ illuminates exactly what activities are associated with serving a particular customer and how these activities are linked to revenues and the consumption of resources. A) situational factors a) Pest inspection b) Insurance premium paid in advance c) Soil test d) Survey. AACSB: Analytical thinking; Application of knowledge, 14) A company can learn a great deal by analyzing the degrees of brand loyalty. b. an equal advantage. #13. How are unrealized gains and losses treated differently for available-for-sale securities e. (a) and (b) only. Calculate the test statistic and ppp-value for each sample. c) the mortgage itself provides the only security for the loan. Click here to study/print these flashcards, Additional Real Estate & Planning Flashcards. Comment on any similarities or differences present. 7) A prospective homebuyer submits a signed offer to buy a house with the condition that the seller pays financing points at closing. 1) Which one of the following documents is least like a binder? c) valid but unenforceable contract. Ch1 bonus questions 1. a) tells all parties that the preprinted forms have been approved by an attorney. 11) Fred has an existing property mortgage, but seeks a second loan. c. Buyers prefer collaborative relationships when the purchase decision is not complex. A property owner lists a property for sale with a broker. They will owe a balloon payment at the end of the loan term. 10) Which of the following is an item that is not normally prorated? No temporary differences existed at the beginning of the year, and the tax rate is 40%. B) conducting VALS tests a) The lender calculates what the buyer owes and then tells the sellers what they will receive. a) Mark can insist that the landlord lower the rent. B. It's easier to prioritize your tasks if your goals are in writing. b. is created by interactions at the top levels of the two firms involved in a relationship D) differentiable Once there is a valid and enforceable sales contract, death of the parties does not end that agreement. #11. 2) According to contract law, every valid contract is also what? d. A strategic alliance. d. all of the above a) It represents a "meeting of the minds." Business marketers track customer loyalty and retention because: d) A lender can continue to collect PMI payments until the homeowner's equity reaches 25%. A home for sale awaits prospective buyers on October 27, 2022, in Hollywood, Florida. e. (b) and (c) only. D) user status share plus a$100 brokerage fee. neg/selling ch 11 Flashcards | Quizlet a) This action is perfectly legal in New York. c) Amanda must deposit the money in the Lawyers' Fund. c) They are always a debit to one party and a credit to the other party for the same amount. What action has Fred taken? c) The landlord leases the ground floor of the building to a commercial tenant. Answer: B a) both an instrument of conveyance and a contract. b) It's an invalid contract. a. industry bandwidth 9) Which of the following is a characteristic of land leases? 7) What contract provision shows a division of expenses between buyers and sellers? If the dispute cannot be resolved the firm should allow the transaction to close and then bring a lawsuit against the seller for the commission, but the brokerage cannot hold the transaction between the parties hostage. A The buyer has the right to inspect the goods only if the buyer purchases them on layaway. When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? a) Percentage b) Net c) Provisional d) Graduated. a) Draw Loan b) Banked Loan c) Bridge Loan d) Straight Loan. The owner told the broker during the listing negotiations that he wanted $138,000 for the property, and anything above that amount the broker could keep as commission. a) Tax map b) Survey c) Street address d) Subdivision plat map. LO: 6.2: How should a company choose the most attractive target markets? b) If the party who has reason to disaffirm the contract elects instead to perform it. Anti-trust laws apply to activities between firms and their interaction. Which statement is TRUE? a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. 1) Which of the following statements about market segmentation is TRUE? d) allowance contract. 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. This is called by what name? If closing is on May 7, what will be Paul_s share of the bill? E) segment identification, Answer: E 3) Recording the deed is done through which of these? a) To make a down payment on a motor home b) To refinance an existing home loan c) To buy a manufactured home d) To refinance a manufactured home loan in order to acquire a lot. Is Biden Raising Mortgage Payments for People with Good Credit? e. Only (a) and (b). The open exchange of information is a characteristic of ____ relationships. C) loyalty status LO: 6.1: In what ways can a company divide a consumer or business market into segments? d. All of the above. Licensees may not allow their own individual disputes over commissions and fees to adversely affect the transaction. 3) What do we call the right to reclaim a property that has been foreclosed by paying off amounts owed to creditors, including interest and costs? Which of the following statements about buyer-seller relationships is(are) true? Large wholesale and retail buyers typically: D) buy most of their products as straight rebuys. a. Diff: 2 The listing agreement is between the client and the firm. b) executable. Discuss the accuracy of this statement. Extra Flashcards | Quizlet #5. c) It nullifies oral leases and listing agreements. a) The lender makes payments to the borrower. C) operating variables AACSB: Analytical thinking, 51) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. 3) The process of selecting one or more market segments to enter is called market ________. a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. a) Credit report b) Homeowner's insurance premium c) Earnest money deposit d) Home inspection. If a check was provided NCREC allows BIC's and firms to start counting the 3 days from the acceptance of a contract. E) It treats all buyers the same and, therefore, lowers promotion costs. C) accessible A) It makes the company almost bulletproof to competitors' actions. c) A borrower can get a VA loan with a lower down payment by insuring the loan through private mortgage insurance. a) Map coordinates b) Deed map c) Street address d) Survey map. 1) What type of document does a home owner sign when agreeing to a mortgage? c. work with a wide array of managers on strategy and coordination issues. b) A borrower can get a conventional loan with a lower down payment by insuring the loan through private mortgage insurance. C firms that sell differentiated products often have - Course Hero Diff: 2 c) will be a debit to the seller. Diff: 1 Which of these is not a good thing to do when writing a counteroffer? LO: 6.1: In what ways can a company divide a consumer or business market into segments? b. involve long-term, contractual commitments. 11) Where on the Uniform Settlement Statement will you find the information that deals with the seller's side of the transaction? 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? Which statement is TRUE in a market with a price ceiling? 3) A contract which neither party can enforce is called. 4) RESPA gives the buyer the right to review the completed settlement statement how long before closing? B) not required to disclose the information because the seller might reject the offer. A. LO: 6.1: In what ways can a company divide a consumer or business market into segments? a. trust. b) decrease the interest rate as the principal declines. B) Step 3-segment attractiveness c) The escrow agent will subtract the seller_s total debits from the total credits and arrive at what the seller will receive at closing. C) maximum solution d) It can be created only by an attorney. Projected profit margins. d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. C) shifting loyals a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. The belief by a partner that an ongoing relationship is so important that it deserves maximum effort to maintain it is referred to as: b. c) reduce the interest rate by 1/2 percent every 5 years. b) Only attorneys can hold and deposit earnest money. operations. Which statement is TRUE? 11) Which of the following is not true about reverse annuity mortgages? Two hours later, the buyer finds a better house, calls the first seller, and withdraws the offer. The agent can tell Ben and Blanche that the $200,000 offer represents 96% of their asking price. 8) What is used to seal a binder agreement? D. LO: 6.1: In what ways can a company divide a consumer or business market into segments? When you receive an offer on a listing for less than asking price, you should not: Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. In which situation would Sam not owe a commission to EX Realty? 9) What is the real estate transfer tax based on? c. liquidated damages. C. The same amount will go towards the principal every month. E) micro, Answer: B A patron at a restaurant is agreeing to a(n). Death of the party to an agreement ends an employment contract such as a listing or buyer broker agreement. b) Select a specific, limited course of action for recouping their losses. c. the firm can identify opportunities for expanding the relationship. a) voidable. Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. d) Brokers are allowed to complete any lease, provided all parties agree. Price discrimination is indistinguishable from dumping. 7) Jim holds a commercial lease. This action is based on which mortgage feature? a) The meeting of the minds b) The actual contract form c) The written contract words d) The public notice of the offer, 2) Neighbor Sam told seller Jake that he would buy 2 adjoining acres if Jake ever decides to sell. d. Collaborative exchange, _____ occur in between the two extremes on the relationship continuum, where the focus of the selling firm shifts from attracting customers to keeping customers. 10) Which statement about prorated items is TRUE? An offer or counteroffer can be withdrawn at any time before it has been accepted. What is important to remember about multiple offers? A crosstabulation of type of customer (regular or promotional) versus net sales. b. Value-added exchanges Resources are allocated to their most efficient uses. c) The maximum purchase price of the property cannot exceed $250,000. b) He has given notice. B. Ricardo = duty to determine if fences were permitted even if listing 411 sheet did not indicate anything regarding fences. A) measurable Diff: 3 c) a misdemeanor. AACSB: Analytical thinking, 49) The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is ________. What type of loan might help Fred? C) A segment is attractive when there are actual or potential substitutes for the product. c. Relationship marketing d) void. E) operating variables, Answer: A Customers prefer a collaborative relationship when there is a competitive supply environment featuring many alternatives. 5) In which provision would a landlord describe what activities can take place on the property? B) split loyals E) gatekeeper, Answer: A a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. 7) The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 illustrates what quality of baby boomers? d. All of the above. &&\underline{\underline{\$ 93,400}}&\underline{\underline{\$ 93,400}} a) Retail Level Lease b) Percentage Lease c) Reorder Lease d) Market Level Lease. A counteroffer represents a rejection of an offer. e. (a) and (b) only, For transactional customers, the business marketer should: a) Actual notice b) Torrens system notice c) Apparent notice d) Constructive notice. 6) Which legal remedy resets parties to pre-contract status? A. a) for a buyer who plans to own the property for a short time and believes the property will appreciate during that time. a. economic 9) Most conventional loans follow the underwriting standards outlined by. a) Protracted Mortgage b) Advanced Mortgage c) Purchase Money Mortgage d) Hold Over Mortgage. c. trust in the salesperson. A) measurable a) a survey of the property. a) PMI Federal Act b) Homeowners Protection Act c) RESPA d) Interest Payment Act. Why is it important to talk to the sellers about the buyers? B) It can help create jobs in the economy by increasing demand for goods and services. A) It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. a. Which of the following are goals of customer relationship management (CRM)? Loyal customers are far more profitable than price sensitive customers. 4) What is the customary down payment amount on residential property in New York? 8) PMI loans made after July 1999 require that the loan must be released. #9. The listing with this type of provision is known as: A net listing provides for the brokerage commission to be an excess amount over a predetermined net amount to be received by the seller. Jerry agreed to what type of lease? a) Swing Loan b) Wraparound Loan c) Pillow Loan d) Ancillary Loan. They were counting on a full-price offer and are very disappointed. #9. 5) Which contract provision allows for the transfer of the contract to another person? A purchase offer is a binding contract between the buyer, the seller and their agents. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. A counteroffer by a seller to a buyer turns the seller from offeree to offeror. E) demographic variables, Answer: C Prior to being shown any house, the buyer tells Ricardo it is essential he have a fence erected around the backyard of any house he purchases. c. relationship commitment. H0:=.20H_0: \pi=.20H0:=.20 versus H1:.20,=.025,p=.28,n=100H_1: \pi \neq .20, \alpha=.025, p=.28, n=100H1:=.20,=.025,p=.28,n=100. #8. These criteria illustrate which of the following major segmentation variables? 4) Tim and Laura signed a sales contract with a mortgage contingency clause. C) product specialization a) Left side of page 1 b) Right side of page 1 c) Top of page 2 d) Bottom of page 2, 1) The buyer's primary function at closing is to. D) market specialization c. Investments and risk of exposure d) Involuntary conveyance of title by statutory rules of descent. 5) In which type of loan is the payment allocated only to interest? d. all of the above b) All the parties must initial the changes. a. c) It's still an offer. E) segment "acid test", Answer: C Diff: 3 d) Amanda has done nothing wrong. a) increase the interest rate as the principal declines. d) It is permissible in amounts under $50. a) deliver the title. A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. D) operating variables A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. c) excusable. c) estate at sufferance. AACSB: Analytical thinking, 52) If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments. D. Goals must be realistic if you hope to accomplish them. c) The maximum purchase price of the property cannot exceed $250,000. d) a document that conveys legal title. 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. C) accessible A) undifferentiated b) neither an instrument of conveyance nor contract. d) the federal discount interest rate. c) is subordinate to a first mortgage. b) after 5 years of loan payments. c) when the loan-to-value ratio reaches 78 percent. AACSB: Reflective thinking, 45) If an organization's marketing department wants to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, it would most likely occur in the ________ step of the segmentation process. A) company's objectives and resources Diff: 1 d. Operational linkages and relationship connectors. Which of the following would likely NOT constitute a violation of the Sherman Antitrust Act? 1. LO: 6.1: In what ways can a company divide a consumer or business market into segments? What approach can their agent take to change the sellers perception of the offer? a) One calendar week b) One business day c) Two calendar days d) One business week. A) segment "acid test" 5) What is a lead-based paint disclosure used for? c) A sublease does not convey any of the leasehold interest. b. Transactional exchange Which of the following statements is(are) true? Exclusive Right to Represent Buyer Agreements must have all the following characteristics EXCEPT: C. specifying provisions for an automatic renewal, D. incorporating conspicuously the commission prescribed "Description of Agent Duties and Relationships", specifying provisions for an automatic renewal. Part I: True or False Item Write "True" if the statement is correct and "False" if it is incorrect in the space provided (1 pt. The difference in assessed fees is about $4,000 . b) A borrower can get a conventional loan with a lower down payment by insuring the loan through private mortgage insurance. b. C. All residential sellers are exempt from this act unless a broker is not involved in the transaction. The clause in a listing contract that protects the broker's commission entitlement beyond the listing term in the event of a sale of the property by the owner to a prospect who was shown the property by the listing firm or it's agents is called. C) situational factors d) She can use this contract as long as it contains an attorney review clause. a. Responsiveness of the supplier in meeting the firm's needs. b) She can fill out the contract but she cannot collect the earnest money deposit. Over 300 California Real Estate Practice Exam questions to pass Tests! 6) A homeowner's insurance policy typically covers all but which of these? a) To enter a property in the Torrens system, a court action must first clear title. d) provide a fixed interest rate for the life of the loan. C) Small manufacturers tend to have formal buying procedures and guidelines. C. Once you set a goal you should never change it. d. a transactional exchange. LO: 6.3: What are the different levels of market segmentation? What type of loan is Steve getting? View full document. A. this form must be provided to the purchaser by a seller who is selling his own property without the assistance from a real estate broker, B. in the event a seller does not provide the purchaser with this form by the date of the first offer, the transaction is automatically terminated by law, C. if the seller does not provide the purchaser with a copy of this form by the date of the offer, the buyer is automatically entitled to a refund of his earnest money deposit, D. this form is required to be provided by the seller in the sale of new construction that has been used as a model home but has not been occupied as a personal residence, this form must be provided to the purchaser by a seller who is selling his own property without the assistance from a real estate broker. D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. Diff: 2 chapter 6 test Flashcards | Quizlet The property owner should disclose the condition of the listed property or be subject to a 3-day rescission period on any contract formed. 4) When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats? a) covers more than one piece of property. Which of the following statements about collaborative relationships is(are) true? Ricardo is showing the buyer a house as seller sub-agent. AACSB: Analytical thinking, 12) Dennis requests his father to buy him a PlayStation for his birthday. Rewrite whole paragraphs to ensure clarity. 5. c) A borrower can request the cancellation of PMI payments when the equity reaches 20% of the purchase price. Diff: 3 a) The tenant fails to pay rent. c) A chronology of successive owners of record of a parcel of real estate. 8) Money that the buyer or seller needs to pay at closing is called what? 12) A subdivision developer most likely would apply for what type of loan? Customers emphasize a collaborative orientation when the purchase decision is not complex. (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the 1) Prospecting for buyers is easier than prospecting for sellers. C) product specialization c) debits to the buyer. One offer is for $208,000; the other is for $200,000. 10) Steve has an existing loan with Sunray Bank and has applied for a second loan. b. 1) What is the seller's primary function at closing? c) The escrow agent will subtract the seller_s total debits from the total credits and arrive at what the seller will receive at closing. Hold both offers because he heard that a full-price offer is on its way. By entering into an exclusive agency listing agreement with a seller, a real estate brokerage firm: A. is not entitled to receive a commission if another agency finds a buyer for the property, B. has become the seller's designated agent, C. has become the exclusive agent of the seller, but is not entitled to receive a commission if the seller finds a buyer for the property, D. has agreed to renegotiate the commission with the seller should another agency offer a lower commission rate, has become the exclusive agent of the seller, but is not entitled to receive a commission if the seller finds a buyer for the property.