A real estate agent is contacted by a potential buyer whose financial interest is questionable, but who needs to write an offer. The agent should:

Question 1

Question 1 of 5

Answer

A. refuse to write this offer.

B. write it on a promissory note.

C. ask for a high earnest money payment.

D. refer any remuneration to the seller.

Question 2

Question 2 of 5

Answer

A. Immediately upon receipt of funds.

B. At the time of application for insurance approval and the mortgage.

C. Within the day of the report on a purchase agreement if done on a local bank, or immediately if done on a national bank.

D. Within three days after the lender has received notice that the offer is accepted by all parties.

Question 3

Question 3 of 5

Answer

A. A study of the area should reveal the target audience's income.

B. The area should be near mass transportation for customer shipping.

C. A study of the topography of the land would be vital to the project.

D. Some projects should indicate a high amount of disposable income.

Question 4

Question 4 of 5

Answer

A. Show all the good points on the camera, and advertise the landing area for sale.

B. Drive up to the property, describe it, and begin the marketing campaign.

C. Reduce the asking price, as the one-way street is a detriment and will hinder selling at all.

D. Contact the municipality to determine if it's possible, and then have a computer project it.

Question 5

Question 5 of 5

Answer

A real estate agent is contacted by a potential buyer whose financial interest is questionable, but who needs to write an offer. The agent should:

A. refuse to write this offer.

B. write it on a promissory note.

C. ask for a high earnest money payment.

D. refer any remuneration to the seller.

What should a real estate broker do with deposit money received on an offer?

A. Immediately upon receipt of funds.

B. At the time of application for insurance approval and the mortgage.

C. Within the day of the report on a purchase agreement if done on a local bank, or immediately if done on a national bank.

D. Within three days after the lender has received notice that the offer is accepted by all parties.

The site selection process for a functional retail shop should consider the area's social and transportation structure. Which factor should be considered?

A. A study of the area should reveal the target audience's income.

B. The area should be near mass transportation for customer shipping.

C. A study of the topography of the land would be vital to the project.

D. Some projects should indicate a high amount of disposable income.

A seller's video of a property is shown to be in a one-way building area. How should the broker proceed?

A. Show all the good points on the camera, and advertise the landing area for sale.

B. Drive up to the property, describe it, and begin the marketing campaign.

C. Reduce the asking price, as the one-way street is a detriment and will hinder selling at all.

D. Contact the municipality to determine if it's possible, and then have a computer project it.

According to the Truth-in-Lending Act Regulations Z, which of the following must be stated in the "Truth-in-Lending disclosure"?

A. attorney fees

B. out of office policy

C. broker's commission

D. annual percentage rate

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