Course 2 Quiz 11

Buyer's agent should make an offer immediately after viewing the property ? A. True B. False

Answer: B, False .

Multiple counter offers are illegal in California ? A. True B. False

Answer: B, False.

Who typically pays for the home inspection ? A. The seller. B. The buyer. C. The buyer and seller equally D. The seller's agent.

Answer: B, The buyer .

Real estate agents must always put their clients interest before their own ? A. True B. False

Answer: A, True .

Listing agents have a duty to protect their client from fraudulent practices ? A. True B. False

Answer : A, True .

A desirable neighborhood will typically have an abundance of active listings ? A. True B. False

Answer : B, False

Termite inspections are required on all homes built prior to 1978 ? A. True B. False

Answer : B, False

A broker's commission is typically based on a percentage of the ? A. Listing price . B. Appraised price . C. Sales price . D. Investment value.

Answer : C, Sales Price.

In a seller's market, prices generally ? A. Increase B. decrease C. Remain the same D. Prices are not related to the market conditions.

Answer: A, Increase.

Listing agents must disclose to buyers if there is a multiple counter- offer situation ? A. True B. False

Answer: A, True

A seller will typically receive more offers in a seller's market compared to a buyer's market ? A. True B. False

Answer: A, True .

Escrow is opened after a prospective buyer 's offer is accepted by the seller? A. True B. False

Answer: A, True .

Home inspection are required when qualified for an FHA Loan ? A. True B. False

Answer: A, True .

If there are not to many active listings in the marketplace, the listing agent may be able to increase the listing price ? A. True B. False

Answer: A, True .

Unless stated otherwise, the buyer's agent has the right to present an offer in-person ? A. True B. False

Answer: A, True .

A counter -offer voids the original offer ? A. True B. False

Answer: A, True.

A buyer's agent should run comps on a property prior to their client making an offer ? A. True B. False

Answer: A, true .

Who typically Presents an offer to the seller ? A. The buyer's agent . B. The listing agent . C. The selling agent. D. The buyer's Attorney

Answer: B, The listing agent .

Which of the following is the most common objection to a buyer's offer ? A. The closing date . B. The Price . C. The down payment . D. The escrow provisions .

Answer: B, The price.

When does the listing agent typically present an offer to the seller ? A. Ounce the deadline for offers has passed . B. As soon as the offers are received . C. Ounce two more offers more offers are received . D. After the property has been on the market for at least 30 days.

Answer: B. As soon as the offers are received .

To mingle or mix, for example, a clients funds in the broker's personal or general or general account, is known as ? A. Conversion. B. Transferring C. Commingling D. Cash-out

Answer: C, Commingling .

The unlawful appropriation of another's property or funds is known as ? A. Transferring B. Escrow C. Conversion D. Cash-out

Answer: C, Conversion .

The buyer's should do which of the following for their client ? A. Always make offers close to the seller's asking price. B. Always negotiate for the seller financing . C. Fully explain their client's offer . D. All The Above .

Answer: C, Fully explain their client's offer

Which of the following serves as insurance for the homebuyer ? A. Escrow B. Home inspections C. Home warranty D. All The Above

Answer: C, Home Warranty .

A home warranty will protect which of the following for the first year of occupancy ? A. Appliances B. HVAC C. Pluming fixtures D. All the Above

Answer: D All the Above

In making a counter-offer, The seller may counter which of the following terms ? A. The offer Price . B. The Proposed occupancy date . C. The amount of earnest money. D. All, The above .

Answer: D, All The Above .

When a listing agent presents an offer to the seller, which of the following information is described ? A. The sale history . B. Information about the buyer . C. The terms of the offer itself. D. All The Above.

Answer: D, All The Above .

In addition to the home inspection can a buyer obtain ? A. Termite inspection. B. Septic inspection . C. Well inspection D. All The Above .

Answer: D, All The Above.

From the real estate agent's perspectives, selling real estate involves which of the following ? A. Selling the owner on the listing . B. Selling the buyer on the offer . C. Selling the seller on the acceptance. D. All of The Above .

Answer: D, All of The Above.

A seller must provide the buyer with all necessary disclosures during the the ? A. Title period . B. Survey Period . C. Closing period . D. Inspection period .

Answer: D, Inspection period .