California “R.E. Practice” questions Ch4-Ch6

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California: Real Estate Practice – Ch4 – Quiz with no answers

answers will be revealed with proper subscription

1 of 10 All of the following are good newspaper sections to read for prospecting except which?

A.    Obituary column

B.     Classified rental ads

C.     Business section

D.    Special announcements

Real Estate Practice

2 of 10 Developing a prospecting plan is similar to:

A.    Establishing goals.

B.     Developing an earnings statement.

C.     Setting a training schedule.

D.    Writing a meeting agenda.

3 of 10 Which of the following is not a legal notice that can provide a listing lead?

A.    Death notice

B.     Vacancy

C.     Divorce

D.    Tax delinquency

4 of 10 All of these are true of prospecting except:

A.    It can provide a steady stream of future clients.

B.     It helps to identify buyer and seller needs.

C.     It keeps your name in front of potential buyers and sellers.

D.    It guarantees sales.

5 of 10 Prospecting:

A.    Only needs to be done periodically.

B.     Is critical to your success in real estate.

C.     Is helpful but not necessary.

D.    Is best left to experienced brokers.

6 of 10 Which of the following is not a probable reason for a listing to expire without selling?

A.    No open houses

B.     Needs repair

C.     Not properly priced

D.    Not marketed correctly

7 of 10 How might probate information help in prospecting?

A.    Gives the names of lawyers who might require property assistance.

B.     Allows the agent to determine community market trends.

C.     Shows property addresses that should be excluded from prospecting.

D.    Provides the names of individuals who may want to sell inherited property.

8 of 10 Which of the following is a good direct mail technique?

A.    Self folding mailer.

B.     Use self-folding mailers.

C.     Print postage labels from your computer.

D.    Hand address the envelopes.

9 of 10 Which of the following statements is not true?

A.    Retired persons are a good source of neighborhood information.

B.     You can use a reverse telephone directory to get the names of residents.

C.     Knocking on doors never requires special permits.

D.    Visiting a neighborhood with a co-worker could make you feel more comfortable.

10 of 10 Which of these Internet pages might be of particular interest to sellers?

A.    Staging a home

B.     Inspection tips

C.     List of sold homes

D.    All of the above

Ch4 Bonus questions

1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 
2- Name one advantage and one disadvantage of telephone contacts. 
3- What is a good approach to use when contacting the owner of an expired listing? 
4- What are the major areas of newspaper leads? 
5- What kind of newspaper ad could you place to solicit a listing?
6- List four sections of an Internet website that might be of particular appeal to prospective buyers.
7- How can a builder help you generate leads? 
8- Why is it important to have a written prospecting plan? 
 

California: Real Estate Practice – Ch5 – Quiz with no answers

Answers will be revealed with proper subscription

1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property?

A.    Statement of Closing Costs

B.     Competitive Market Analysis

C.     Sale Price Disclosure

D.    Estimated Seller Proceeds

2 of 10 A competitive market analysis contains information about all of the following items except which?

A.    Currently listed homes

B.     Recently sold homes

C.     Recently remodeled homes

D.    Similar expired listings that didn’t sell

3 of 10 A listing presentation can be compared to:

A.    A training session

B.     An employment interview

C.     A practice closing

D.    A sure sale

4 of 10 All of the following are benefits of listing with an agent except which?

A.    Preparation of an appraisal of the property

B.     Help during escrow

C.     Qualification of buyers

D.    Help with required forms and disclosures

5 of 10 How many properties should be included for comparison in a competitive market analysis?

A.    Two properties in each category

B.     Five current listings — three recently sold and two expired

C.     A minimum of three properties in the recently sold category

D.    Twelve properties total

6 of 10 Which of the following is not a true statement?

A.    Buyers looking at FSBO homes are usually looking for a bargain.

B.     FSBO sellers believe they will save money if they sell themselves.

C.     FSBO sellers who list with an agent will pay their own advertising costs.

D.    Buyers of FSBO homes are usually the ones who save money.

7 of 10 A presentation manual:

A.    Should be professionally produced.

B.     Can be used in place of a verbal presentation.

C.     Is not necessary if the verbal presentation is strong.

D.    Lends good visual support to what the agent is saying.

8 of 10 Which of the following will give you comparative market data the fastest?

A.    Multiple listing service

B.     County records

C.     Company files

D.    Title companies

9 of 10 Which of the following items would not usually be included in a presentation manual for buyers?

A.    Documents showing your affiliations with real estate organizations.

B.     Services offered to buyers.

C.     Your plan for finding the buyer a home.

D.    A list of former client references

10 of 10 A competitive market analysis is an attempt to:

A.    Find things in the home a seller needs to repair.

B.     Establish a home’s fair market value.

C.     Discover why some homes haven’t sold.

D.    Convince a seller to list with you.

Ch5 Bonus questions

1- What is a competitive market analysis?
2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price?
3- When preparing a competitive market analysis, what categories of homes should an agent research? 
4- What is a good method for estimating what a seller will net from the sale of the property? 
5- Your listing presentation manual should be made up of two sections that address what issues?
6- What is the main reason sellers choose to sell their property without an agent’s help?
7- Name three benefits of listing a home with an agent that you could share with sellers. 
8- What is an important issue for potential buyer clients to understand? 

Ch6 – Quiz with no answers

Answers will be revealed with proper subscription

1 of 10 The Lead-Based Paint Disclosure is required for homes built:

A.    Before 1978

B.     Before 1976

C.     After 1980

D.    After 1975

2 of 10 Which of these documents is for sellers only and not for buyers?

A.    Smoke Detector Statement of Compliance

B.     Real Estate Transfer Disclosure

C.     Residential Listing Agreement

D.    Seller’s Affidavit of Nonforeign Status and/or California Withholding Exemption

3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers?

A.    Natural Hazards Disclosure

B.     Water Heater Compliance

C.     Estimated Seller’s Proceeds

D.    Defective Furnaces in California

4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement?

A.    The buyer must pay the broker a commission.

B.     The broker will owe fiduciary responsibilities to the seller as well as the buyer.

C.     It must specify a definite termination date.

D.    Commission is never involved.

5 of 10 All of the following are valid listing agreements. Which one is illegal in many states?

A.    Exclusive agency.

B.     Open.

C.     Exclusive-right-to-sell.

D.    Net.

6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items?

A.    Sign in yard

B.     Broker compensation to other brokers

C.     Posting to MLS

D.    Lockbox

7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a “named” party on a list, it’s referred to by what term?

A.    Security clause

B.     Non-penalty clause

C.     Safety clause

D.    Effective period

8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker?

A.    Non-exclusive agency

B.     Exclusive agency

C.     Exclusive-right-to-sell

D.    Net

9 of 10 An agent must give a copy of the listing agreement to the sellers:

A.    At the time the agent presents an offer.

B.     At the time the agreement is signed.

C.     When the seller pays commission.

D.    After the agent has had time to make copies at the office.

10 of 10 Which of the following statements is not true about a net listing?

A.    Sets a limit on the commission a broker can earn.

B.     Is generally viewed as unprofessional.

C.     Is illegal in many states.

D.    Allows a broker to have as a commission anything above the minimum the seller sets.

Ch6 Bonus questions

1- What is an important thing to remember about listing agreements? 
2- Describe an open listing. 
3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 
4- What is the agreement that a broker can enter into with a buyer? 
5- What does the safety clause in the listing agreement do?
6- What does the security and insurance clause of the listing agreement address?
7- What does the paragraph in the listing agreement titled “Entire Contract” deal with? 
8- What does the Water Heater Statement of Compliance address? 

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