a) include a title closing entity. b) It could be a violation of state licensing laws. c. liquidated damages. #8. D) need-based segmentation a) Estate for years b) Estate from period to period c) Estate at will d) Estate at sufferance. d. the lost-for-good customer. a) Revision b) Reorder c) Rescission d) Refile. a) both an instrument of conveyance and a contract. The buyers have been pre-qualified by a lender. Eventually Sam convinces a co-worker, Wanda Wish, to purchase his home. 6) Buyers Jim and Jan are closing on a home later this month. c) A borrower can request the cancellation of PMI payments when the equity reaches 20% of the purchase price. a) when the loan-to-value ratio reaches 50 percent. d. all of the above LO: 6.3: What are the different levels of market segmentation? D) operating variables D) purchasing approaches b) decrease the interest rate as the principal declines. This is known as what type of account? No temporary differences existed at the beginning of the year, and the tax rate is 40%. AACSB: Reflective thinking. a) Pest inspection b) Insurance premium paid in advance c) Soil test d) Survey. 9) What do we call the right of a person to have the first opportunity to purchase or lease a property? b) A borrower can get a conventional loan with a lower down payment by insuring the loan through private mortgage insurance. d) carry prepayment penalties, while government-backed loans do not. 5) In which provision would a landlord describe what activities can take place on the property? Jake has received two offers on one of his listings. Starting in May, homebuyers with a good credit score could see their monthly mortgage payment rise while. a) increase the interest rate as the principal declines. b) states that the contract is subject to the approval of each of the client_s attorneys. a) Apportionments b) Debits & Credits c) Terms of Payment d) Exclusions. b. A buyer with a 640 credit score and an 80% loan-to-value ratio will have a fee of 2.25%, while a buyer with a 740 score will have a fee of 0.875%. The buyers family is pressuring them to purchase this home. a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. They can accept it outright, reject it totally, or submit a counteroffer. Does it make sense for a corporation to repurchase its own stock? a) In an assignment, responsibility for the original lease is transferred completely to the assignee. Diff: 1 AACSB: Analytical thinking, 51) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. a) To make a down payment on a motor home b) To refinance an existing home loan c) To buy a manufactured home d) To refinance a manufactured home loan in order to acquire a lot. 6) Broker Sara completes a preprinted sales contract. The open exchange of information is a characteristic of ____ relationships. Why is it important to talk to the sellers about the buyers? Buyers hire an agent to help them purchase a home and want seller financing because they filed for bankruptcy two years ago. a) Title fees b) Taxes c) Rent d) Utilities. 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. 9) Which of these would be a CREDIT to the seller at closing? a) Estate at will b) Estate for time c) Estate for years d) Estate at sovereignty. 7) Jim holds a commercial lease. A) It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. c) If the party who wants to enforce the contract seeks legal relief. Chapter 3 Multiple Choice Flashcards | Quizlet a) through verbal agreements. C) segment profitability #8. 6) Which contract element indicates a mutual agreement? 6) Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler. 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. d. is not required if the firms are in an arms-length relationship Unit quiz 11 Flashcards by Ron Jeremy | Brainscape c) will be a debit to the seller. D) differentiable If a seller and a listing firm have a commission dispute prior to the closing, the listing firm: A. is not allowed to release any earnest money being held until the commission dispute is settled, B. is to hold up the closing until the dispute is settled, D. cannot release any earnest money until there is a signed release between the seller and buyer. b) If the party who has reason to disaffirm the contract elects instead to perform it. c) is subordinate to a first mortgage. A) demographic variables E) marketing-mix strategy, Answer: D c) They are always a debit to one party and a credit to the other party for the same amount. e. interfirm cooperation. a. the sensitivity of the salesperson in understanding how business conditions affect the industry within which the buying firm operates. b) contain default penalties. 4) In which contract provision would the length of the lease be outlined? a) the lender must have a reserve balance on hand to cover the loan amount. c) implied contract. c) using preprinted riders. 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. 12) Paul will get the second quarter water bill at the end of June. 9) Sellers Glen and Jill are closing on their home sale next week. 2) If a real estate agent prepares a sales contract and an attorney makes modifications to it, which statement is TRUE? 8) What is used to seal a binder agreement? a) require lower down payments than government-backed loans require. Which of these statements about counteroffers is not true? Diff: 3 c) They are always a debit to one party and a credit to the other party for the same amount. When the party who made the offer is notified of its acceptance. LO: 6.2: How should a company choose the most attractive target markets? 11 Q b) periodic estates. a) Margin b) Index c) Payment cap d) Rate cap. b) He has given notice. e. both (c) and (d), Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Finite Mathematics for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Raymond A. Barnett, Morality and Justice Exam Review Guide Cards. They do not limit the ability of a firm from setting company policies as to fees, rates or geographical areas. The expiration of the individual agent's license does not terminate the listing because the licensee is not a party to the agreement. Chapter 13 Flashcards - Cram.com a) Freddie Mac and Fannie Mae. a) The tenant fails to pay rent. a) for a buyer who plans to own the property for a short time and believes the property will appreciate during that time. B) mass An offer or counteroffer can be withdrawn at any time before it has been accepted. 6) In which contract section might you the property address? c. The current share of the wallet the firm has attained. #15. E) It treats all buyers the same and, therefore, lowers promotion costs. 15) The loan origination fee on a VA loan cannot exceed. LO: 6.1: In what ways can a company divide a consumer or business market into segments? A) Buyers for all kinds of organizations (governments, nonprofit groups, intermediaries) tend to buy in much the same way as do manufacturers. The buyers are interested in another property. Answer: A B The buyer normally has the right to inspect the goods before the buyer accepts or pays for them. However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. E) differentiated, Answer: B 6) Mark earns $185,000 a year and he pays $2,200 per month for a rent-stabilized apartment. #1. b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. a. a) 10 percent b) 15 percent c) 20 percent d) 25 percent. 8) Which of the following summarizes the general terms of a ground lease? When organizational buyers consider changes from one selling firm to another, what are the two main categories of switching costs they consider? The property owner should disclose the condition of the listed property or be subject to a 3-day rescission period on any contract formed. A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. a) He has provided an advance order of moving. d) provide a fixed interest rate for the life of the loan. b) 5 percent of the loan amount. If the dispute cannot be resolved the firm should allow the transaction to close and then bring a lawsuit against the seller for the commission, but the brokerage cannot hold the transaction between the parties hostage. c) every seven years. 5) In which type of loan is the payment allocated only to interest? D. The interest payment is always smaller then the amount allocated to the principal. c. refers to the ability of an interfirm relationship to achieve desired objectives.
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