b. Transactional exchange b) All the parties must initial the changes. C) geographic segmentation C) flexibility of legal rules governing the business The primary difference between an open listing and an exclusive agency agreement would be: A. the seller retains the right to sell the property himself and is not liable for a commission, B. the seller can list with as many brokerages as he wishes in the open listing, C. the exclusive agency agreement stipulates the firm is the only one that can sell the property and be entitled to a commission regardless of who sells it, even the seller, D. the seller can sell it himself in the exclusive agency agreement but is not allowed to sell it himself in the open listing without being liable for the commission, the seller can list with as many brokerages as he wishes in the open listing. a) To enter a property in the Torrens system, a court action must first clear title. d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. 9) Which of the following is a good example of a unilateral contract? d. all of the above 1) What is another term used to describe a promissory note? 2) Mark gets a home loan and the lender will charge him 3 points at closing. operations. a) Marketable title b) Abstract of title c) Evidence of title d) Title commitment. #1. 7) Which of the following is not an item that a buyer usually pays at closing? A) demographic variables b. directly assist the customer with planning and strategy issues. Ricardo finds perfect house for buyer but it does not have a fenced in backyard nor does the listing information sheet indicate whether fences are allowed or not. a) covers more than one piece of property. Which is true of a valid listing agreement in NC? The buyers are interested in another property. c) The maximum purchase price of the property cannot exceed $250,000. A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. LO: 6.2: How should a company choose the most attractive target markets? 13) Al is seeking an FHA loan. Each of their payments is for the same amount B. d) Brokers are allowed to complete any lease, provided all parties agree. d. the lost-for-good customer. Answer: B E) actionable, Answer: B They have the right to review the completed settlement statement how long before closing? Which statement is TRUE? c) implied contract. a) Window Loan b) Home Equity Loan c) Reverse Annuity Mortgage d) Blanket Loan. d) Amanda has done nothing wrong. LO: 6.2: How should a company choose the most attractive target markets? e. Only (a) and (b). What can be said about Norm's actions? Obtaining commitment deals only with securing an order. 1 Which of the following statements about marketing is true? a) He has provided an advance order of moving. Prepare additional documentation to take to the presentation. E) full market coverage, Answer: A Diff: 2 70) Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization? Which statement is TRUE? b. a) Receipt b) Buyer's Statement c) Purchase Offer d) An Agreement. C. All residential sellers are exempt from this act unless a broker is not involved in the transaction. This means that. d) states that a lawyer can rescind the contract terms within 10 days of contract approval. If closing is on May 7, what will be Paul_s share of the bill? D) Step 1-needs-based segmentation C) loyalty status B) selective specialization 1) Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 8) Which of the following summarizes the general terms of a ground lease? According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? d) The original offer is legally terminated. c) Brokers may not complete leases to which they are not a party. d) Interest is based on a selected economic indicator index. Eventually Sam convinces a co-worker, Wanda Wish, to purchase his home. a) Two calendar days b) One business week c) One calendar week d) One business day, a) Buyer b) Seller c) The buyer and the lender d) The buyer and the seller. 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. D) need-based segmentation a) The buyer may not revoke the offer in such a short period of time. C. The same amount will go towards the principal every month. Sam Seller lists his property with EX Realty. When dealing with money the rules all reference "banking" not business days. C. Ricardo & listing agent = seller sub-agent, they have no duty to determine if fences are permitted. 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. E) short-term segmentation, Answer: A a) Open b) Balloon c) Fully Amortized d) Retraced. b) The leased property is foreclosed. D) global segmentation 5) Which aspect of a contract deals with when a tenant takes possession of the property? Loyal customers are far more profitable than price sensitive customers. 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. Which statement is true? a) Receipt b) Contract for sale c) Agreement d) Purchase offer. 9) What is the real estate transfer tax based on? B) selective specialization C. If buyers can easily switch firms, then buyers have increased power. 1) Which one of the following documents is least like a binder? 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. B) influencer When the price elasticity of demand is low and the price elasticity of supply is high, the burden of a tax falls mainly on producers. a) It represents a "meeting of the minds." a) Mager Clause b) Merger Clause c) Rescind Clause d) Vacant Clause. it must contain a nondiscriminatory clause #1. B) segment identification \text { Tsunami Corp. } & 1,250 & 31,250 & 35,000 \\ Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. #12. Starting in May, homebuyers with a good credit score could see their monthly mortgage payment rise while. b) In a sublease, the original tenant retains primary responsibility for performance of the original lease contract. e. none of the above, For collaborative customers, the business marketer should:
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