D) global segmentation (a manufacturer). 10) Buyer Rich has asked Seller Sally to hold $15,000 as a second mortgage. a) Fixed b) Straight c) Amortized d) Open. An exclusive agency agreement differs from an exclusive right to sell agreement because under an exclusive agency agreement the firm is not paid if the seller finds a buyer on their own. 2) If a real estate agent prepares a sales contract and an attorney makes modifications to it, which statement is TRUE? a. A continuing dialogue with customers. Jake has received two offers on one of his listings. a. the cost of new customers is often far less than long-standing customers. d) The contract will be valid after a five-day waiting period. Meet with the buyers lender to ensure theyre getting a good deal. b) title insurance. A) demographic variables Diff: 2 c) 1 percent of the loan amount. b. Value-added exchanges b) contain default penalties. B) microsegmentation 1) Which one of the following documents is least like a binder? d) The real estate must be appraised by an approved FHA appraiser. A) segment "acid test" 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. Browse over 1 million classes created by top students, professors, publishers, and experts. a) The tenant fails to pay rent. E) benefits, Answer: D a) Attachment b) Covenant c) Bond d) Bill. E) horizontal market, Answer: B E) consumer motivation, Answer: E a) a survey of the property. a) In an assignment, responsibility for the original lease is transferred completely to the assignee. a. Transactional exchanges d. a strategic alliance. 1) In the event of default by the purchaser, the lender has the right to bring legal action through the courts to satisfy the debt. LO: 6.3: What are the different levels of market segmentation? d. Operational linkages and relationship connectors. D) market specialization 8) Issues that are not covered in the purchase and sale agreement itself are usually dealt with. 4) A contract that conveys an interest in real estate must. c. trust in the salesperson. c. Relationship commitment If the loan is for $68,000, what will Mark be assessed in points? C) purchasing approaches 11) If a seller prepaid an insurance policy of $2,100 and the closing is set for March 15, using the 12-month/30-day method, what will the buyer owe the seller? b) All the parties must initial the changes. A) Buyers for all kinds of organizations (governments, nonprofit groups, intermediaries) tend to buy in much the same way as do manufacturers. A. wait for a signed release from the buyer, B. try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice, C. inform the buyer that the seller is being unreasonable and explain that the broker must release the earnest money to the seller, D. disperse the money according to the terms of the Offer to Purchase and Contract, try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice. Regardless of how the seller completes the form, the licensee has a duty to disclose all material facts so the liability rests with the listing agent. E) niche, Answer: C a) Receipt b) Contract for sale c) Agreement d) Purchase offer. They can accept it outright, reject it totally, or submit a counteroffer. a) Title fees b) Taxes c) Rent d) Utilities. D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. Once an offer has been accepted, the agent should do all of the following except which? A) It obligates the seller to transfer the property if the broker procures a ready, willing, and able buyer. Make sure all required disclosures have been done. a) require lower down payments than government-backed loans require. Diff: 1 b) Preservation and Maintenance of Property. A) naked solution LO: 6.1: In what ways can a company divide a consumer or business market into segments? C) personal characteristics This is an example of ________ marketing. LO: 6.1: In what ways can a company divide a consumer or business market into segments? 4 north carolina licensee tyler is providing - Course Hero C. If buyers can easily switch firms, then buyers have increased power. d) It is permissible in amounts under $50. d. intend to move each partner toward the attainment of some long-term strategic goal. 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. Diff: 1 A home's curb appeal is boosted by all of the following, except: a. mowing the lawn. d. all of the above b) The apartment can be converted to a rent-controlled apartment. E) full market coverage, Answer: A Which of the following statements is true of obtaining commitment from a buyer? 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. 2) Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________. Answer: B B) buyer-readiness stage The bill is $39.00 per quarter. 5) What is a lead-based paint disclosure used for? They will owe a balloon payment at the end of the loan term. A) It makes the company almost bulletproof to competitors' actions. b) Norm can complete the lease agreements as long as he has a lawyer co-sign them. Ricardo is showing the buyer a house as seller sub-agent. a) Tax map b) Survey c) Street address d) Subdivision plat map. _____ exists when one party has confidence in a partner's reliability and integrity. _____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it. LO: 6.2: How should a company choose the most attractive target markets? 6) Broker Sara completes a preprinted sales contract. d) using a schedule of changes. b) 5 percent of the loan amount. a) the lender must have a reserve balance on hand to cover the loan amount. E) gatekeeper, Answer: A c. Transactional customers display less loyalty to a particular supplier and can easily switch part or all of their purchases from one vendor to another. Value can be defined as the _____ benefits received by a customer firm in exchange for the price paid for a product offering. The buyer's agent has the same disclosure obligation, however, in this question because the defect was hidden it does not appear to be an item for which the selling broker (buyer's agent) had liability. #6. Its important that sellers realize that a counteroffer is actually a rejection of the original offer, and by submitting one, they are giving the buyers an easy out if they want one. 4) In which contract provision would the length of the lease be outlined? Which of the following would likely NOT constitute a violation of the Sherman Antitrust Act? 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. They do not try to get a loan, and when the deadline for loan approval draws near, they tell their agent they couldn't get a loan. a) The lender calculates what the buyer owes and then tells the sellers what they will receive. a) voidable. Chapter 11: From Offer To Closing Flashcards Preview A) demographic variables 5) Which contract provision allows for the transfer of the contract to another person? c) The contract can be executed at no cost to the optionee. The cost and fair value of this portfolio on December 31, 2014, was as follows: NameNumberofSharesTotalCostTotalFairValueTornadoInc.800$14,000$15,600TsunamiCorp.1,25031,25035,000TyphoonCorp.2,14043,87042,800$93,400$93,400\begin{array}{lrrr} The sellers make no warranties for the property but must answer truthfully if asked about defects. What type of loan does Jim hold? What can be said about Norm's actions? Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. The listing agent does not inform the selling agent of the defect and since the defect, is hidden, the selling agent does not discover or disclose the problem to the buyer. d) Interest is based on a selected economic indicator index. When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? How would Grant_s lease at this time be classified? LO: 6.1: In what ways can a company divide a consumer or business market into segments? d) void. 1) Which of the following statements about market segmentation is TRUE? 3) Which statement best defines the concept of "quiet enjoyment? AACSB: Reflective thinking; Application of knowledge, 63) In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________. c) The Torrens title record is the title itself. c. focus primary attention on the purchasing staff. Which of the following performance attributes has research recently shown influences customer satisfaction of business buyers? The buyers have been pre-qualified by a lender. b) A tenant buys the landlord's ground, then leases the improvements. LO: 6.2: How should a company choose the most attractive target markets? Assume that its cost of goods manufactured is $534,390. 10) Which of the following is an item that is not normally prorated? It is true, that the United States Housing Market can be "unpredictable, volatile and cyclical." I believe it is crucial to familiarize ourselves with the pa. Subprime Mortgage Crisis The Federal Reserve worried that low interest rates encouraged risky borrowers to own a home; therefore, interest rates rose from "1 percent to 5.25 percent". 1) What is the underlying tenet of a contract agreement? d) It is a bilateral agreement. What must be enforced for this contract to be binding? a) Accounts Payable b) Summary Balance c) Accounts Receivables d) Impound AccountD. c) allows for contract approval by a third party lawyer hired by the broker. Answer: B Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. LO: 6.3: What are the different levels of market segmentation? D) niche d. Neither (a) nor (b) is true. a) legal. A) single-segment concentration 7) A buyer submits an offer to a seller. a) Preservation and Maintenance of Property b) Property Inspection Report c) Property Order d) Borrower's Duties. Which of the following is not characteristic of the manufacturing sector in the United States? Sam Seller lists his property with EX Realty. c) homeowner's insurance. b) for a buyer who plans to own the property for a long time. Which statement is TRUE of a listing agreement? d) no money down. e. None of the above. One offer is for $208,000; the other is for $200,000. #6. 13) Al is seeking an FHA loan. c) excusable. b. Biden Raises Costs for Homebuyers With Good Credit to Help - Newsweek Eventually Sam convinces a co-worker, Wanda Wish, to purchase his home. c) will be a debit to the seller. a. see that operational linkages are designed into the relationship to keep product and service offerings aligned with customer needs. d. commission. 3) Which mortgage clause requires a borrower to maintain the physical condition of the mortgaged property? C) It obligates the broker to work diligently for both the seller and the buyer. 9) When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? Diff: 3 b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. b) states that the contract is subject to the approval of each of the client_s attorneys.
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