Arec exam 2024 - Study guides, Class notes & Summaries

"To uphold, protect, and promote the public interest, which embraces the interests of regulated licensees and entities and the interest of consumers, by the fair and impartial development and administration of licensing laws and regulations." - ANSWER-Alabama Real Estate Commission Mission Statement Protect consumers from unprofessional practices. - ANSWER-What is the primary purpose of license laws? Buyers, Sellers, Tenants, and Land/Building Owners - ANSWER-Who does license law protect...

AREC 202 FINAL EXAM QUESTIONS AND ANSWERS 2024 1. The optimal level of any activity (for consumers, firms or governments) is where A) average benefits from this activity equal average costs of this activity. B) total benefits from this activity equal total costs of this activity. C) marginal benefits from this activity equal marginal costs of this activity. D) marginal benefits from this activity are maximized. -Answer- 1. To decide whether to increase an activity by one unit you should co...

AREC 365 Final Exam |230| Questions and Answers 2024 Graded A+ T/F; Average life-expectancy at birth is equal for men and women ANS-false what are the three factors for explaining low savings by the poor ANS-money may be lost or stolen, saving options like banks may not exist, temptation to increase consumption in both "goods" and "bads" according to Banerjee and Duflo, individuals living in households where the consumption per capita is less than USD 1.08 per person per day in PPP te...

AREC 305 ~ FINAL EXAM QUESTIONS AND ANSWERS 2024 By forming strategic alliances, small and medium sized farmers and ranchers can : - Answer-achieve marketing advantages that larger operations enjoy the last step in the decision-making process us to implement the decision -Answer-false more time should be spent on irrevocable decisions than on those which can be easily reversed -Answer-true standardization of farm financial ratios and accounting practices will help farm managers : -Answer-...

AREC 202 (Kroll) Final Exam Study Guide 2024 What insight(s) did we get from the classroom clicker experiment where students had to choose how many points to contribute to a class account? -Answer-Some people were willing to give more in order to acquire a higher point total, but other would keep all of their points. The people who decided to keep all of their points ended up better in the long-run. What insight(s) did we get from the Moblab experiment on asymmetric information (the Lemon...

AREC Final exam Study Set 2024 When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? -Answer-Never A set of guidelines for the ethical conduct of real estate licensees is called a -Answer- Code of ethics Which of the following is the best definition of a covenant between a lessor and lessee? -Answer-An agreement or promise made between the parties Which party's closing costs might include mortgage insurance? -A...

AREC 305 ~ FINAL EXAM 2024 WITH COMPLETE SOLUTION 100% VERIFIED By forming strategic alliances, small and medium sized farmers and ranchers can : ANS-achieve marketing advantages that larger operations enjoy the last step in the decision-making process us to implement the decision ANS-false more time should be spent on irrevocable decisions than on those which can be easily reversed ANS-true standardization of farm financial ratios and accounting practices will help farm managers : ANS...