CE Shop Final Exam Course 2 Questions With Complete Solutions(Guaranteed Success)
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Course
CE Shop
Institution
CE Shop
CE Shop Final Exam Course 2 Questions With Complete Solutions(Guaranteed Success)
What is the maximum amount of time a protection or override clause can be in effect? - correct answer...Six Months
Appraiser John is determining how a property is being used to determine a more optimal function....
CE Shop Final Exam Course 2 Questions
With Complete Solutions(Guaranteed
Success)
What is the maximum amount of time a protection or override clause can be in effect? -
correct answer...✔✔Six Months
Appraiser John is determining how a property is being used to determine a more
optimal function. What is he determining? - correct answer...✔✔Highest and Best Use
Which of the following statements is true about the listing presentation?
It's best to leave out financial data (such as a CMA or comparable property information)
and listing agreements, so the seller doesn't think you're jumping the gun and already
counting your commission.
The less you say, the better. You don't want to overwhelm your potential clients with
numbers and decisions at this first presentation.
The most important part of a listing presentation is to make the buyers like you as a
person. Try not to talk numbers or about their house, but instead focus on charming
them.
You should go into the presentation fully prepared with a comparative market analysis,
listing agreement, MLS listings of comparable properties, and your plan for marketing
the sellers' property. - correct answer...✔✔You should go into the presentation fully
prepared with a comparative market analysis, listing agreement, MLS listings of
comparable properties, and your plan for marketing the sellers' property
Over how many years is a commercial property depreciated? - correct answer...✔✔39
Years
Real estate licensees who want to uphold the Fair Housing Act should make a habit out
of which of the following actions? - correct answer...✔✔Tell potential clients in their
initial meeting that they are committed to upholding fair housing laws.
Which type of listing is not legal in some states because it can lead to a conflict of
interest? - correct answer...✔✔Net Listing
Jimmy owns a vacant piece of land. He plans to build a home on the land and then sell
it. What type of loan is he most likely to acquire to finance this project? - correct
answer...✔✔Construction
Which is not one of the lender requirements under the Community Reinvestment Act?
Offering financing in low-income housing communities
Participating in development and rehabilitation projects in low-income neighborhoods
Providing loan programs for housing, small businesses, and small farms
AGRADESOLUTIONS
, Providing school loans in low-income areas - correct answer...✔✔Providing school
loans in low-income areas
Which of the following scenarios is considered a violation of FTC advertising rules? -
correct answer...✔✔Sarah just started her career as a solo agent and decided to try a
new marketing campaign slogan: "Come let our team of hard-working agents find you
the home of your dreams!"
What's the best practice for handling blank areas of a listing agreement form that don't
apply to a listing? - correct answer...✔✔Write "N/A" in the blanks.
Which of the following is part of the Consumer Financial Protection Bureau's mission of
consumer protection? - correct answer...✔✔Enforce consumer financial protection
laws.
The Adams family is financing their loan through Acme Bank and their agent negotiated
a great sales price on their new home. Smith Title Company processed the loan
documents. The Adamses must purchase mortgage insurance. Who does the insurance
protect? - correct answer...✔✔Acme Bank
Shannon doesn't understand why her agent wants her to add a contingency to her
purchase offer. Her agent, Scott, explains that the property is in a transitional
neighborhood, and it might be overpriced. What type of contingency is Scott
recommending? - correct answer...✔✔Appraisal
How do you calculate the area for a square room? - correct answer...✔✔Multiply the
length of two sides together
Madeline is a property manager who's calculating the vacancy rate for the apartment
building she manages. What formula would she use to do this? - correct answer...✔✔
Number of vacant units ÷ total units
Which of these scenarios is basically the same as fraud? - correct answer...✔✔
Jeannie's ad read "all new fixtures," when most of the fixtures were just cleaned up and
re-installed.
To make valid computations of adjustments for the sales comparison approach to value,
elements of comparison must be applied in a specific order. Which one of these
elements listed has the highest priority? - correct answer...✔✔Conditions of Sale
Shelly's flower business is blooming and it's time for her business to grow. She plans to
take out a business loan to open two more shops on the north side of town. Which
lending institution would she most likely go to for the loan? - correct answer...✔✔A
Commercial Bank
AGRADESOLUTIONS
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