Oklahoma - Basic II Post License
Course - Study Tests - Barnes Real
Estate
The real property market is situation to - ANSNational Trends and Local Supply and Demand
In fashionable, when deliver of a positive commodity will increase - ANSPrices generally
tend to drop.
When a base enterprise located in a network, what number of jobs can be anticipated to be
created in the neighborhood financial system for every one provided by the bottom
enterprise? - ANSTwo
Investments in real property are normally taken into consideration - ANSBoth: Long term
investments and unstable
When a brand new industry movements right into a network, - ANSDevelopment of real
property can not reply to immediately demands
When the expenses of inputs important to manufacture a product or provide a provider will
increase, the resulting growth in rate is referred to as - ANSCost-push inflation
In dealings with the public, brokers won't - ANSremain silent as to material statistics
concerning the property known best to themselves.
Which of if the subsequent advertising practices is permitted via law in Oklahoma? -
ANSOffering unfastened radios as a top class list with a company.
The handiest medium for attracting capacity customer calls is - ANSa backyard sign
Once purpose for suspension or revocation of a actual property license is - ANSPlacing a
blind ad (no disclosure of expert popularity) for the sale of real property.
Brokers or pals may additionally promote it their own assets - ANSonly as licensees
advertising their very own property
While showing a residence to a potential purchaser, an accomplice informed the buyer that
the house turned into attractive, secure, and a bargain at the asking fee. - ANSThe
declaration is probably just "sales talk" to which the doctrine of caveat emptor applies
,An associate acquired offers for a listed property within a 10-minute period. One provide
turned into 2% less than the listed charge and the opposite changed into 6% less than the
listed price. The accomplice have to gift to the vendor - ANSBoth offers
Personal merchandising consists of - ANSutilizing numerous strategies of enhancing an
image to the general public, consisting of community carrier, coaching athletic groups,
volunteering to paintings in fund drives, and many others.
To a actual property agent, prospecting is - ANSan essential part of actual estate wherein
the agent is continuously looking for extra customers and sellers to serve.
Cocooning to the agents in the profession of actual estate manner - ANSThe movement in
which humans are searching for to spend more time at home and even increase home
primarily based organizations to paintings of their homes.
Target Marketing is - ANSconcentrating on a specific part of a market most effective in a
selected geographical region or confining sports to a selected fee range of residences.
People need to buy things from a(an) - ANSreal stay person who is involved with the wishes
of the purchaser.
A person who seems to be inquisitive about buying a specific piece of real estate is a(an) -
ANSProspect
Before brokers are entitled to say or sue for commissions at the sale of real assets, they
should meet which of the subsequent necessities? I. Be certified as brokers prior to
supplying to promote. II. Be employed with the aid of a celebration via a legitimate listing
agreement. III. Be members of the OAR. - ANSBoth I & II
The concept of coverage is to - ANSSpread the risk among many humans, and
consequently exchange the possibility of a primary loss for a recognized fee of manageable
proportions.
The major motive of the OK Real Estate Education and Recovery Fund is to -
ANSReimburse any person adjudged by means of a court docket to have suffered loss
because of a licensee violating the Code.
The OK Real Estate Education and Recovery Fund evaluation is $15 in keeping with three
12 months duration. Payments from the fund for claims arising from a single transaction are
restricted to - ANSall of these : $50k for someone transaction; $25k for any individual
claimant; $50k for all claims against one licensee.
When a broker is imparting brokerage services, what must the parties do? - ANSProvide in
writing that they received the disclosure from the broker
After November 1, 2013 what takes place to currently energetic brokerage agreements that
were entered into previous to that date? - ANSThey remain in pressure till the expiration
date state inside the settlement.
,Broker Jones agreed to listing his friends vacant lot. The agreement became no longer in
writing, simply an over-the-Fence handshake. What's the satisfactory recommendation that
you can supply to broking jones? - ANSGood exercise dictates that broker jones placed the
agreement in writing.
Under the brokerage settlement act which of the following actions is obligatory? -
ANSAccount for all money and property acquired via the dealer in a timely way.
Which of the subsequent individuals are NOT categorized as a broking? - ANSA company of
real property enterprise related offerings
Where could you locate documentation that confirms that a customer acquired the notice of
the form of services provided by means of a broker - ANSIn a separate provision or file this
is both included into it connected to the contract to purchase, rent, choice, or exchange
actual estate
Which of the subsequent dealer actions converts a patron into a client? - ANSEntering into a
list settlement
Which form of records is NOT robotically considered exclusive? - ANSProposed assets
zoning trade
Section 858-363, the Authority of Broker Associates deals with - ANSa clearer description of
an associate's authority
Under the new Oklahoma Brokerage Relationships act the responsibilities and duties that
had been formerly distinct to transaction brokers - ANSare now "assigned" to all agents
The term "transaction broking" has been eliminated from - ANSThe paragraph on vicarious
legal responsibility
What are the responsibilities of broker following termination, expiration, or of entirety of
performance? - ANSTo account for all monies and assets regarding the transaction and
maintain confidentiality
If a broker intends to offer fewer brokerage offerings than the ones required to complete a
transaction, the broking - ANSmust encompass a description of these steps inside the
transaction for which he or she will no longer offer brokerage offerings.
A prominent element or unique appeal in a bit of real estate is called a(n) - ANSFeature
Persons who are notably decisive and are trying to find to govern humans and conditions
may be categorised with the aid of personalities as - ANSDirectors
You will likely never get it in case you do not ask for it. - ANSA dedication to buy.
A query that cannot be spoke back "sure" or "no" might be a(n) - ANSIndirect Question
, One of the only and quality responses to an objection is - ANSOh?
Maslow heirarchy of wishes consist of all of the following motivational factors, besides -
ANSSelf-Perpetuation
All of the subsequent statements about FHA and VA Loans are correct besides - ANSThey
require a prepayment penalty
If the authentic proprietor was launched while their loan was assumed, this example of legal
responsibility is called - ANSNovation
Which of the following statements about VA loans is (are) accurate? - ANSBoth A and B:
Repayment of loan is assured if borrower defaults and VA loans are one hundred
percentage of the assets value installed by using the va.
Which of the following statements about cut price factors is (are) accurate? - ANSBoth A and
B , every point is identical to at least one% growth and every factor increases the yield of the
lender by means of 1/8 percent factor.
An alienation clause, if the mortgaged assets is soldA. Lets in a lender the opportunity to
accept or reject the patron as an alternative borrower.B. Gives the lender an opportunity to
cast off low hobby rate loans.C. Both A and B.D. Neither A nor B. - ANSboth A and B
In a sale by means of agreement for deed, the buyer - ANSboth A and B
When the purchase of real estate is financed through a contract for deed, - ANSlegal identify
to the assets remains with the sellers until the contract is accomplished and the complete
buy fees is acquired through the dealers.
A broking deposits a customer's earnest money within the business checking account.
Because the dealer has not paid federal profits taxes, Uncle Sam places a lien on the bank
account, which prevents the broking from taking flight any cash, along with that of the ...
(11676) - ANSa agree with account
A dealer should open a separate escrow account for - ANSneither A nor B
The sales agreement is silent as to who is to close the transaction. The listing dealer
deposits the earnest money in a agree with account and appoints a name employer as
ultimate agent. The broking can pay all earnest money to the title enterprise. The title
company - ANSBoth B and C
When investigating the history of the name to a given piece of actual estate, the abstracter
checks - ANSboth A and B
A "chain of title" is a(n) - ANSrecord of a property's grantors and grantees
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