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California: “Marketing Elective Course” Questions only (no answers) Answers will be revealed with proper subscription
1. An aspect that would affect value would be: a. All of the answers shown b. Location c. Number of bedrooms d. Size
2. Adjustments to the comparables should be used: a. Never b. For each comparable that has differences from the site c. Only comparable with different square footage d. Only when the comparable has a yard created by a landscape architect
3. An appraiser typically uses _____________properties with the sales comparison approach to arrive at a value. a. Only sold b. Only sold and pending sale c. Only active listed d. Only expired listed
4. Fair Market Value is important when: a. The property is tied up in an estate b. When eminent domain is being exercised by the government c. When the property is involved in a divorce settlement d. All of the answers shown
5. The income approach to value typically uses a ___________rate. a. Tax b. Capitalization c. Federal Reserve d. Fee simple
6. Which are examples of a loan type? a. ARM b. FHA, VA c. Conventional d. All of the answers shown
7. When a seller offers financing to the buyer, this is known as a/an: a. Jumbo Loan b. Conventional Loan c. Purchase Money Mortgage d. ARM Mortgage
8. When money is easier to obtain: a. There are usually more buyers in the market place to buy a home b. Prices usually fall c. There is usually higher unemployment d. None of the answers shown
9. A buyer who did not have enough money for a down payment might desire a: a. Purchase Money Mortgage b. An FHA Loan c. A conventional loan d. An interest only loan
10. If interest rates are lowered: a. A buyer can qualify for a more expensive home b. A buyer would always qualify for a less expensive home c. Interest rate never effect the buyer’s qualification d. A buyer must purchase a government loan
11. Niche Marketing is primarily about a. money b. competition c. focus d. Mass Marketing
12. How is Niche Marketing defined? a. Focuses on a wide variety of products to a wide audience with the broadest message intended to reach the largest number of people possible b. Concentrating all marketing efforts on a small, but specific and well defined segment of business c. An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media d. Concentrating all marketing efforts on a large segment of business
13. Which question is NOT important to ask yourself while creating your Niche Marketing Plan? a. Where do most of your clients come from and who are they? b. What part of your business do you most enjoy? c. What sort of real estate product do you find yourself selling most? d. How can I focus on a wide variety of products to a wide audience?
14. What criteria are offered by the Small Business Association to help define your ideal outcome through strategic thinking? a. Observation, Views, Media Influence, Driving Forces and Focus b. Organization, Observation, Views, Driving Forces and Ideal Position c. Observation, Organization, Views, Driving Forces and Motivation d. Environmental, Marketplace, Project and Measurement
15. When asking yourself, “What are the driving forces that will make my business a success?” you must specifically relate your answer to a. Qualitative factors, such as results or experience. b. Empowerment and alignment. c. Your company’s vision and mission. d. All of the answers shown
16. Which of the following defines the objective of studying the demographics and psycho-graphics of the desired niche segment? a. What need will the product satisfy? b. Does this service warrant a worthwhile price? c. What channels of advertising do I use to reach to my target segment? d. All of the answers shown
17. When focusing on your market research, where can you go to figure out what customers are looking for? a. Jupiter Research b. Google Trends c. eBay Pulse d. All of the answers shown
18. Which of the following tools are recommended for a comprehensive situational analysis of a niche segment? a. The 5C’s b. Internet keyword search c. Speaking to a few peers d. None of the answers shown
19. Real Estate Niche Marketing begins where? a. Facebook.com b. REALTOR.com c. Print Advertising d. With your website
20. Adjustments for differences between comparables and the site should be made to: a. The comparable b. The site c. Both the site and the comparable d. Adjustments are not allowed
21. If there is a plentiful supply and low demand, then prices tend to: a. Rise b. Fall c. Usually stay the same d. None of the answers shown
22. More weight should be given to comparable properties which: a. Have recent sales b. Have obtained the same loan to purchase the property c. Have used the same structural inspector for the property d. Have used the same title company
23. Market conditions would include the following: a. The availability of money b. General state of the economy c. Competition d. All of the answers shown
24. Employment, inflation and the stock and bond market are examples of: a. General state of the economy b. The secondary market c. Doctrine of Laches d. None of the answers shown
25. What does the 80-20 rule signify in business? a. Only a few things are responsible for the vast amount of your productivity and results in business b. 20% of your revenue will come from 80% of your clients c. 80% of your cost items will contribute to 20% of your expenses d. 80% of your sales staff will contribute 20% of the sales
26. Which of the following is NOT a management tool for success? a. Systems b. Print Advertising c. Database d. Vendor Relationships
27. The National Association of REALTORS dedicates an entire section of their website to a. technology tools for realtors. b. social media tips. c. time management. d. the 80/20 rule of business.
28. Which of the following tools do NOT offer project management capabilities? a. Google b. Top Producer (Real Estate Transaction Management Center) c. Facebook d. Solve360
29. What does the term “collaborative vendor management” mean? a. Regularly communicating with vendors keeps them engaged in servicing your business b. You should be able to trust them with confidential business information c. Never penalize vendors for failure to meet the standards of the agreement d. All of the answers shown
30. When solving a problem or preparing for change, a view is simply a different angle to consider. What are the four viewpoints to consider when forming your business strategy? a. Environmental, Marketplace, Project and Measurement b. Environmental, Marketplace, Focus and Motivation c. Environmental, Observation, Focus, Motivation and Ideal Outcome d. There are only two viewpoints: formulation and implementation.