a) will be paid in arrears. #1. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. share plus a$100 brokerage fee. b) It could be a violation of state licensing laws. a) every four years. AACSB: Analytical thinking, 12) Dennis requests his father to buy him a PlayStation for his birthday. E) short-term segmentation, Answer: A Click here to study/print these flashcards, Additional Real Estate & Planning Flashcards. When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? c) a misdemeanor. If closing is on May 7, what will be Paul_s share of the bill? #11. neg/selling ch 11 Flashcards | Quizlet d) contain a legal description of the property. b) If the party who has reason to disaffirm the contract elects instead to perform it. chapter 6 marketing Flashcards | Quizlet B) effectiveness of the suppliers AACSB: Reflective thinking, 44) During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem? Customers prefer a collaborative relationship when there is a competitive supply environment featuring many alternatives. The buyers have been pre-qualified by a lender. a) Amanda has illegally commingled the earnest money with her own money. A seller and a buyer are engaged in a dispute over a forfeited earnest money deposit. A patron at a restaurant is agreeing to a(n). They have the right to review the completed settlement statement how long before closing? 7) Jim holds a commercial lease. This takes a positive view of the price. 8) Money that the buyer or seller needs to pay at closing is called what? c) 1 percent of the loan amount. a) It represents a "meeting of the minds." LO: 6.1: In what ways can a company divide a consumer or business market into segments? c. The supply of goods is sold by the sellers with the lowest costs. e. (a) and (c) only. 6) A homeowner's insurance policy typically covers all but which of these? The belief by a partner that an ongoing relationship is so important that it deserves maximum effort to maintain it is referred to as: b) states that the contract is subject to the approval of each of the client_s attorneys. 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. D. Buyers must receive the completed disclosure report no later than the beginning of the due diligence period. a) Fixed b) Straight c) Amortized d) Open. a) a 1 percent down payment. Hold both offers because he heard that a full-price offer is on its way. c) allows for contract approval by a third party lawyer hired by the broker. a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. D) examining the demographics section of the handbook of marketing Diff: 2 E) The most attractive segment is one in which entry barriers are low and exit barriers are high. 7) Money that the buyer or seller receives at closing is called what? All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. Diff: 2 10) Buyer Rich has asked Seller Sally to hold $15,000 as a second mortgage. The fact that the NC listing agreement and buyer agency agreement must be in writing is required by: Employment agreements are not a right or interest in real estate subject to the statute of frauds, but need to be in writing due to commission rules. 12) Paul will get the second quarter water bill at the end of June. #3. d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. Which of these statements about counteroffers is not true? A) naked solution LO: 6.2: How should a company choose the most attractive target markets? A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. C) It obligates the broker to work diligently for both the seller and the buyer. 10) Steve has an existing loan with Sunray Bank and has applied for a second loan. D) pseudo solution c) the mortgage itself provides the only security for the loan. chapter 6 test Flashcards | Quizlet 1) What is the seller's primary function at closing? Diff: 2 A) niche a) covers more than one piece of property. a) Amanda has illegally commingled the earnest money with her own money. c. Investments and risk of exposure (a manufacturer). B) Step 3-segment attractiveness d) require higher down payments than government-backed loans require. B. the listing agent and the buyer's agent. 1) Which of the following statements about market segmentation is TRUE? b) after 5 years of loan payments. A licensee has just discovered a roofing leak in one of his current listings even though the seller has indicated no representation on the Residential Property Disclosure Statement. 5) Which statement is true about accepting referral fees? d. intend to move each partner toward the attainment of some long-term strategic goal. B) situational factors #9. a) Accounts Payable b) Summary Balance c) Accounts Receivables d) Impound AccountD. 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. c. Achieving customer retention. a) To enter a property in the Torrens system, a court action must first clear title. 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. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. d) allowance contract. a) Assignment of a Contract_ b) Operation of Law c) Transfer Clause d) Execute Clause. Diff: 2 Two hours later, the buyer finds a better house, calls the first seller, and withdraws the offer. c) every seven years. The agent should point out that price is only one aspect of the offer and then go on to discuss the other terms of the agreement that may appeal to the sellers. A) single-segment concentration What type of lease does Jim have? ________2. c) reduce the interest rate by 1/2 percent every 5 years. Value can be defined as the _____ benefits received by a customer firm in exchange for the price paid for a product offering. E) virtual solution. Unit quiz 10 Flashcards by Ron Jeremy | Brainscape 8) Conventional loans are typically uninsured. 14) Ruth must deposit $1,113.45 in to a FHA-backed escrow account. d) She can use this contract as long as it contains an attorney review clause. 6) Which contract element indicates a mutual agreement? What type of loan does Jim hold? 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. In which situation would Sam not owe a commission to EX Realty? a) $680 b) $1,360 c) $2,040 d) $2,720. If the buyer rejects the first counteroffer, the seller can accept the first offer. d) Designed for law clients who are unable to get reimbursement from their lawyer who has caused them loss. D) segment "acid test" Daniel F Viele, David H Marshall, Wayne W McManus, DECA practice tests questions multiple choice. d) carry prepayment penalties, while government-backed loans do not. When you receive an offer on a listing for less than asking price, you should not: Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Chapter 13 Flashcards - Cram.com LO: 6.1: In what ways can a company divide a consumer or business market into segments? E) purchasing approaches, Answer: B E) It treats all buyers the same and, therefore, lowers promotion costs. c) A sublease does not convey any of the leasehold interest. 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. A crosstabulation of type of customer (regular or promotional) versus net sales. a) Sara cannot legally fill out this contract. Annual amortization is capital recovery value which is equal to net investment divided . a) A promise to pay b) A judgment letter c) A property lien d) Earnest money. B) split loyals Jake has received two offers on one of his listings. a) They are always a credit to the seller and a debit to the buyer. Extra Flashcards | Quizlet c) Arbitrate prior to taking court action. According to the North Carolina Real Estate Commission, what should the broker do about the earnest money? #14. a) Prior deed b) Copy of property tax bill c) Prior title insurance policy d) Seller's credit report. 5) When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. What type of loan is Steve getting? a) Description of the Address b) Description of the Area c) Description of the Premises d) Rental Location. B) selective specialization Which statement is TRUE? d. All of the above. #10. Diff: 1 2) If an attorney make changes to an offer, what action should follow? a) Preservation and Maintenance of Property b) Property Inspection Report c) Property Order d) Borrower's Duties. d) A borrower can get a loan with a higher down payment by insuring the loan through private mortgage insurance. b) intended contract. d) A certificate issued by the mortgage holder that indicates that the building is in proper condition to be occupied. According to North Carolina Real Estate Commission Rules, all of the following are required to be part of a listing agreement, EXCEPT: Listing agreements and buyer broker agreements may not provide for an automatic extension of the agreement. 2) Which kind of lease has no time limit? 3) A contract which neither party can enforce is called. A new Estimate of Sellers Proceeds, using the current offering price as the basis and an updated competitive market analysis, would be helpful. b. the number of competitors in the particular industry. a) Preservation and Repair of Property b) Preservation and Maintenance of Property c) Property Order d) Borrower's Duties. For example, ________ can show the firm which brands are most competitive with its own. The sellers make no warranties for the property but must answer truthfully if asked about defects. b) They are always a debit to the seller and a credit to the buyer. A) demographic variables d) The loan must be repaid before the borrower's death. A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. Eventually Sam convinces a co-worker, Wanda Wish, to purchase his home. Exert pressure on the sellers to include something the other party wants. A) undifferentiated Diff: 2 C) segment attractiveness c. Buyers prefer collaborative relationships when the purchase decision is not complex. d) Mark can be evicted. a. do not involve the exchange of money. Rewrite whole paragraphs to ensure clarity. Once Ricardo knew the fence was a material issue to the buyer he was bound to take some action. 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? Prepare the appropriate journal entry to record income taxes. D) need-based segmentation AACSB: Analytical thinking, 46) In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access. Exclusive Right to Represent Buyer Agreements must have all the following characteristics EXCEPT: C. specifying provisions for an automatic renewal, D. incorporating conspicuously the commission prescribed "Description of Agent Duties and Relationships", specifying provisions for an automatic renewal. Earnest money must be deposited no later than 3 banking days. Who typically presents an offer to the sellers? 9) What is the real estate transfer tax based on? LO: 6.2: How should a company choose the most attractive target markets? e. (b) and (c) only. 7) How does the buyer know how much money to bring to closing? 6) What type of loan typically has a low initial rate followed by higher rates? D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. AACSB: Analytical thinking, 20) A marketer is interested in segmenting a business market on ________ if the marketer's variables are loyalty and attitudes toward risk. Which of the following statements is TRUE? What actions can the sellers take regarding the purchase offer? a) Designed to promote ethics training among lawyers b) Allows lawyers to deposit earnest monies into a State wide account c) Provides a fund for loans to lawyers for professional development d) Designed for law clients who are unable to get reimbursement from their lawyer who has caused them loss, 5) In New York, the practice of law by a non-attorney is. b. directly assist customers with planning and strategy development. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. c) debits to the buyer. d. Buying centers. C) geographic segmentation a) Statement of Limits b) Clear Statement of Term c) Clear Notice of Terms d) Order of Terms. The buyers love the landscaping improvements the sellers have made. a) Description and Order b) Terms c) Dissolution d) Offer and Acceptance. Explain. b) the mortgage must be held by the originator until all terms have been meet. a) In an assignment, responsibility for the original lease is transferred completely to the assignee. 1) What is the underlying tenet of a contract agreement? E) benefits, Answer: D D) market specialization 10 of 10 All of the following are true statements about goals except which one? When a business marketer demonstrates special skills in managing relationships with key customers or by developing innovative strategies with alliance partners, they are trying to create:

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