AACSB: Reflective thinking, 19) A marketer is interested in segmenting a business market based on technology and customer capabilities. Trust b) If the party who has reason to disaffirm the contract elects instead to perform it. b. the number of competitors in the particular industry. B) microsegmentation However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. If a check was provided NCREC allows BIC's and firms to start counting the 3 days from the acceptance of a contract. 6) What type of loan typically has a low initial rate followed by higher rates? D) examining the demographics section of the handbook of marketing d) It eliminates fraud in real estate contracts. a) Percentage b) Net c) Provisional d) Graduated. C) segment attractiveness 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. c) a payment cap. LO: 6.1: In what ways can a company divide a consumer or business market into segments? Calculate the test statistic and ppp-value for each sample. D. Goals must be realistic if you hope to accomplish them. 15) Which of the following does not meet the criteria for a VA loan? What type of lease does Jim have? D) market specialization b) A tenant buys the landlord's ground, then leases the improvements. Once an offer has been accepted, the agent should do all of the following except which? AACSB: Reflective thinking, 64) In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer. b. directly assist the customer with planning and strategy issues. a. industry bandwidth 12) Paul will get the second quarter water bill at the end of June. a) Graduated b) Gross c) Percentage d) Net. 7) A buyer submits an offer to a seller. 5) What is the interest rate on an ARM tied to? Which of these is not a good thing to do when writing a counteroffer? 4) What is the purpose of the Lawyers' Fund? E) It treats all buyers the same and, therefore, lowers promotion costs. Customer profitability D. The interest payment is always smaller then the amount allocated to the principal. b) A borrower can get a conventional loan with a lower down payment by insuring the loan through private mortgage insurance. Ch1 bonus questions 1. 10) Taxes on the property Buyer Alan is purchasing are $3,200 due on December 31. c. the firm can identify opportunities for expanding the relationship. b) credits to the seller. #11. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. #5. a) Open b) Balloon c) Fully Amortized d) Retraced. _____ exists when one party has confidence in a partner's reliability and integrity. D. Buyers must receive the completed disclosure report no later than the beginning of the due diligence period. b) Preservation and Maintenance of Property. d) void. a. Responsiveness of the supplier in meeting the firm's needs. At this point, assuming all other contract validity items are in order, what is the status of the offer? A) It obligates the seller to transfer the property if the broker procures a ready, willing, and able buyer. 2) Which statement about the Torrens system is FALSE? c. trust in the salesperson. e. interfirm cooperation. #14. a) He has provided an advance order of moving. b) Select a specific, limited course of action for recouping their losses. a) Right of first refusal b) First right to buy c) Right to resend d) Right to counteroffer. d) require higher down payments than government-backed loans require. 9) What do we call the right of a person to have the first opportunity to purchase or lease a property? B) purchasing approaches b. involve long-term, contractual commitments. #2. The buyers family is pressuring them to purchase this home. E) purchasing approaches, Answer: B a. c) A borrower can request the cancellation of PMI payments when the equity reaches 20% of the purchase price. a. the cost of new customers is often far less than long-standing customers. If a seller changes the terms of the offer to purchase, he has created a counteroffer. a) Estate at will b) Estate for time c) Estate for years d) Estate at sovereignty. b. solidarity. 1) Which type of lease has no automatic renewal? These would be examples of what is called ________. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. View full document. E) niche, Answer: C 5) What is a lead-based paint disclosure used for? a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. \hline \text { Tornado Inc. } & 800 & \$ 14,000 & \$ 15,600 \\ Sample Final Exam for California Real Estate Practice Questions with no d) The escrow agent will subtract the total of the buyer_s credits from the total debits and the result is what the buyer needs to bring. D) accessible 2) Which of the following terms is not used to describe a binder? Assume that its cost of goods manufactured is $534,390. Last year his rent went up 4% based on a 4% increase in the wholesale price index. The buyers have been pre-qualified by a lender. The agent can tell Ben and Blanche that the $200,000 offer represents 96% of their asking price. Relationship marketing Explain. d) It's an invalid offer. d) contain a legal description of the property. a) All parties to the contact must sign the changes. C) accessible b) The buyer brings a blank check and finds out the final amount at the closing meeting. Which is true of a valid listing agreement in NC? C) accessible Marketing Management chapter 1 practice test Flashcards - Easy Notecards C) product specialization d) The tenant leases the ground from the landlord and owns the improvements. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. 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. Here's why: We already know that all sellers have a duty to disclose any "material defects." And while buyers and sellers may disagree on what a material defect is, one of the best ways to . a) The list of all parties who have ever owned real estate. Trust and relationship commitment b. directly assist customers with planning and strategy development. C) segment attractiveness Obtaining commitment deals only with securing an order. c. relationship commitment. 4 north carolina licensee tyler is providing - Course Hero c) The Torrens title record is the title itself. a) The lender calculates what the buyer owes and then tells the sellers what they will receive. E) producing products that can be used in a variety of ways. d) The original offer is legally terminated. To sell to manufacturers, marketers need to understand important characteristics of those firms. 43) Which of the following statements is TRUE about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment? c. social If closing is on May 7, what will be Paul_s share of the bill? 9. b) pay the real estate taxes. Two hours later, the buyer finds a better house, calls the first seller, and withdraws the offer. a) A listing agreement b) A personal services agreement c) A sale contract d) An option to buy. b) intended contract. c) valid but unenforceable contract. #1. a) After a cooling period b) After both parties have signed it c) After it is performed d) After the parties agree to their respective promises. a) Mager Clause b) Merger Clause c) Rescind Clause d) Vacant Clause. 11) What type of loan is often used when a seller will not accept a property sale contingency? a) prepaid expenses. a) Condominium purchase b) Seller-financed loan c) Loan involving a second mortgage d) Federally-insured loan. B) conducting VALS tests D) segment positioning a) PMI Federal Act b) Homeowners Protection Act c) RESPA d) Interest Payment Act. E) virtual solution. c) Brokers may not complete leases to which they are not a party. c) Interest is determined by a combination of fixed loans and outstanding loans. B. a. relates to the longevity of the relationship between a buyer and seller LO: 6.3: What are the different levels of market segmentation? LO: 6.2: How should a company choose the most attractive target markets? Newlyweds are an example of a(n) ________ segment. e. Interfirm cooperation. AACSB: Analytical thinking, 18) A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve. Chapter 8 Online & Book Quiz Flashcards | Chegg.com The buyer's primary function at closing is to. B) segment attractiveness 13) Al is seeking an FHA loan. 4) What is the customary down payment amount on residential property in New York? 4) What form does RESPA require to be used for itemizing closing costs? According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? a) Wraparound Loan b) Bridge Loan c) Swing Loan d) Ancillary Loan. a) voidable. LO: 6.2: How should a company choose the most attractive target markets? c. always-a-share customers. Starting in May, homebuyers with a good credit score could see their monthly mortgage payment rise while. a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. What type of loan does Jim hold? 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. Which statement is TRUE? Which of the following statements about collaborative relationships is(are) true? c) The landlord leases the ground floor of the building to a commercial tenant. Which of the following is not characteristic of the manufacturing sector in the United States? a) Protracted Mortgage b) Advanced Mortgage c) Purchase Money Mortgage d) Hold Over Mortgage. LO: 6.2: How should a company choose the most attractive target markets? a) Fixed b) Straight c) Amortized d) Open. During this interim period, Grant makes monthly rent payments and the owner accepts them. Earnest money must be deposited no later than 3 banking days. What can be said about Norm's actions? 1) Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. E) benefits, Answer: D 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. a) Amanda has illegally commingled the earnest money with her own money. The buyers love the landscaping improvements the sellers have made. The buyers are interested in another property. A) Step 2-segment identification a. What does the phrase the law of agency is a common-law doctrine mean? A. d. all of the above The listing agreement must be in writing at the time of the listing and the buyer brokerage agreement must be in writing prior to the submission of the buyer's offer. Give the sellers the price over the phone so that they can think about it before you meet with them. A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. E) micro, Answer: B The expiration of the individual agent's license does not terminate the listing because the licensee is not a party to the agreement. B) selective specialization B) It diversifies the firm's risk. a) Use of the Premises b) Property Order c) Location Use d) Property Regulations, 6) In New York City, the maximum base rent (MBR) system allows for rent to be adjusted. d) They are always divided equally between the buyer and the seller. a) Revolving Lease b) Wholesale Lease c) Index Lease d) Leading Indicator Lease. D) market specialization b) It requires certain conveyance-related contracts to be in writing. b) Only attorneys can hold and deposit earnest money. b) the gross national product. e. (a) and (b) only, For transactional customers, the business marketer should: A counteroffer by a seller to a buyer turns the seller from offeree to offeror. 8) Landlord Frank terminated Jerry's lease because gross sales did not meet expectations. B The buyer normally has the right to inspect the goods before the buyer accepts or pays for them. Which of the following is TRUE about the North Carolina Residential Property Disclosure Act? LO: 6.1: In what ways can a company divide a consumer or business market into segments? D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. (a manufacturer). If firms offer differentiated products, thenbuyers have increased power.B. The open exchange of information is a characteristic of ____ relationships. c. refers to the ability of an interfirm relationship to achieve desired objectives. 9) Bill has informed his landlord that he will be moving in 30 days. a) 2 percent of the loan amount. LO: 6.1: In what ways can a company divide a consumer or business market into segments? a) Revision b) Reorder c) Rescission d) Refile. 6) A homeowner's insurance policy typically covers all but which of these? When preparing to present an offer to the sellers, what kinds of supporting information can be helpful?