a. invest resources to build operational linkages and information-sharing mechanisms for the relationship. A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. D) pseudo solution d) Interest is based on a selected economic indicator index. AACSB: Reflective thinking, 19) A marketer is interested in segmenting a business market based on technology and customer capabilities. 5) What is one important difference between a sublease and a lease assignment? D) market specialization LO: 6.2: How should a company choose the most attractive target markets? Who typically presents an offer to the sellers? The real estate broker's fiduciary responsibility to keep the principal informed of all facts, including property condition and issues that affect a seller's willingness to sell and a buyer's willingness to buy, is the duty of: A. skill, care and diligence B. disclosure C. obedience D. accounting disclosure LO: 6.2: How should a company choose the most attractive target markets? #1. c) Sara can use a binder but not a sales contract. a) To make a down payment on a motor home, a) Preservation and Maintenance of Property. d) provide a fixed interest rate for the life of the loan. d) accrued expenses. a) It's an accepted offer; therefore a valid contract. c) A borrower can get a VA loan with a lower down payment by insuring the loan through private mortgage insurance. E) benefits, Answer: D a. Transactional exchange d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. a) voidable. E) full market coverage, Answer: A AACSB: Reflective thinking, 45) If an organization's marketing department wants to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, it would most likely occur in the ________ step of the segmentation process. d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. When does a purchase offer become a legal contract? a) The landlord sells the ground to another, then leases it back. B. Answer: B c) debits to the buyer. Prepare additional documentation to take to the presentation. How will they know how much money they will receive from the sale? C) concentrated B) The basic aspects of business customer buying behavior tend to be quite similar in the U.S. and in international markets. The seller has no reasonable basis for refusing to allow the broker to return the earnest money to the buyer who cancelled within their due diligence period. Procurement officer, supply manager, purchasing agent, and buyer are titles for an organization's: A modified rebuy would be most likely when: B) a car producer is developing a sportier car which will require wider tires. H0:=.20H_0: \pi=.20H0:=.20 versus H1:.20,=.025,p=.28,n=100H_1: \pi \neq .20, \alpha=.025, p=.28, n=100H1:=.20,=.025,p=.28,n=100. Which statement is TRUE? A) naked solution d) for a seller in a buyer's market. a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. 1) Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. B) microsegmentation Chapter 8 Online & Book Quiz Flashcards | Chegg.com 3) What is the most common form of property description? 3) Borrower Jake has defaulted on his mortgage and the lender has required the loan to paid in full. a. close b. distant 3) Which of the following persons may, but is not required to, attend a closing? a) 2 percent of the loan amount. C. Ricardo & listing agent = seller sub-agent, they have no duty to determine if fences are permitted. d. commission. a) covers more than one piece of property. 2. d) It is a bilateral agreement. b) for a buyer who plans to own the property for a long time. 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? a. Responsiveness of the supplier in meeting the firm's needs. B) demographic 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the a) The lender calculates what's owed and tells the buyer what to bring. What type of loan is Steve getting? 2) Which kind of lease has no time limit? a) To protect lawyers who are sued by clients b) To compel real estate companies to use standard forms c) To reimburse clients for money that was misused by their attorney d) To prevent licensees from preparing real estate contracts. AACSB: Analytical thinking, 12) Dennis requests his father to buy him a PlayStation for his birthday. b. Collaborative relationships are less likely to involve operational linkages between the buying and selling firms. A The buyers' family is pressuring them to purchase this home. 2) Mark gets a home loan and the lender will charge him 3 points at closing. The Residential Property Disclosure Report should be provided to buyers in a timely fashion. a) Draw Loan b) Banked Loan c) Bridge Loan d) Straight Loan. 12) Paul will get the second quarter water bill at the end of June. LO: 6.3: What are the different levels of market segmentation? a. When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: Make no recommendations and let the sellers decide on their own. A) single-segment concentration #1. Which of the following is not true regarding organizational buyers? The buyers family is pressuring them to purchase this home. b. the ability of the salesperson to understand the selection criteria of each member of the buying center. D) differentiable Unit 6 Flashcards | Quizlet c) A borrower can request the cancellation of PMI payments when the equity reaches 20% of the purchase price. The buyers love the landscaping improvements the sellers have made. d. all of the above 7) The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 illustrates what quality of baby boomers? D) buyer AACSB: Reflective thinking, 21) A ________ offering consists of two parts: a naked solution and discretionary options. C) situational factors 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. 11) The dimensions in the VALS framework are consumer resources and ________. d) provide a fixed interest rate for the life of the loan. b) They are always a debit to the seller and a credit to the buyer. Sample Final Exam for California Real Estate Practice Questions with no Diff: 2 AACSB: Analytical thinking; Application of knowledge, 67) Marketers usually identify niches by ________. Once there is a valid and enforceable sales contract, death of the parties does not end that agreement. c) The Torrens title record is the title itself. 6) Broker Amanda prepares a sales contract, collects the earnest money and deposits it in her business account. A purchase offer is a binding contract between the buyer, the seller and their agents. d. a transactional exchange. c) is subordinate to a first mortgage. e. Only (a) and (b). This is an example of a. a) legal and binding contract. c. Relationship commitment 7) A buyer submits an offer to a seller. Which of the following are reasons for business marketers to employ relationship marketing activities? d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. E) horizontal market, Answer: B a) A borrower can reduce monthly interest rate payments over the life of the loan by getting private mortgage insurance. 1) What is an important legal feature of a contract? C. The process of obtaining commitment occurs only toward the end of any sales call. A. a) $680 b) $1,360 c) $2,040 d) $2,720. b) In a sublease, the original tenant retains primary responsibility for performance of the original lease contract. B) demographic variables 12) A subdivision developer most likely would apply for what type of loan? Chapter 13 Flashcards - Cram.com A. 9) Which of the following is a characteristic of land leases? Which of the following statements is(are) true? If the buyer rejects the first counteroffer, the seller can accept the first offer. d) The landlord cancels the lease. A) situational factors The buyers are interested in another property. b) He has given notice. c) have more paperwork than government-backed loans. Does it make sense for a corporation to repurchase its own stock? a) All parties to the contact must sign the changes. b. Value-added exchanges C) segment profitability Which of the following clauses is required by the NC Real Estate Commission to be contained within every listing agreement? c) It is forbidden under any circumstances. C) operating variables d) contain a legal description of the property. b) Select a specific, limited course of action for recouping their losses. c. marketing plan AACSB: Reflective thinking. c) implied contract. 1. d. Margin analysis, Relationship efficacy Earnest money must be deposited no later than 3 banking days. d) It is permissible in amounts under $50. a. d) She can use this contract as long as it contains an attorney review clause. A. a boycott of a discount brokerage's listings, B. agreement with competitors to set commission rates, C. refusal to place advertisements in a local paper that accepts ads from for sale by owners, D. a firm's raising of it's own commission rates, A firm's raising of it's own commission rates. chapter 6 test Flashcards | Quizlet Whether working with a client or a customer a licensee has a duty to disclose all material facts. a. the cost of new customers is often far less than long-standing customers. #14. According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? Diff: 2 a. see that operational linkages are designed into the relationship to keep product and service offerings aligned with customer needs. C) accessible d) Amanda has done nothing wrong. Why is it important to talk to the sellers about the buyers? Exert pressure on the sellers to include something the other party wants. 3) Recording the deed is done through which of these? Diff: 2 a) every four years. E) personal characteristics, Answer: A Rewrite whole paragraphs to ensure clarity. A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. a) The borrower must occupy the property. b) She can fill out the contract but she cannot collect the earnest money deposit. 2) Which of the following terms is not used to describe a binder? Effective machine life is only determined by the durability of the machine. Diff: 2 Ch1 bonus questions 1. What is this law called? a) Amanda has illegally commingled the earnest money with her own money. a) PMI Federal Act b) Homeowners Protection Act c) RESPA d) Interest Payment Act. a. a) Expense b) Credit c) Debit d) Proration. d) a document that conveys legal title. \text { Name } & \text { Number of Shares } & \text { Total Cost } & \text { Total Fair Value } \\ a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. c) using preprinted riders. The seller and the buyer must be informed of the situation and agree in writing to the broker's representing both of them. D) differentiable B) substantial b) It could be a violation of state licensing laws. 6) Which contract element indicates a mutual agreement? No temporary differences existed at the beginning of the year, and the tax rate is 40%. a) Retail Level Lease b) Percentage Lease c) Reorder Lease d) Market Level Lease. The difference in assessed fees is about $4,000 . Relationship commitment AACSB: Reflective thinking; Application of knowledge, 63) In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________. d. all of the above The $20,000 is what type of mortgage? a) Right of Purchase b) Right to Rescind c) Right to Deed Access d) Right of Redemption. a) Condominium purchase b) Seller-financed loan c) Loan involving a second mortgage d) Federally-insured loan. Diff: 2 a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. c. Competitive exchanges If firms offer differentiated products, thenbuyers have increased power.B. They do not limit the ability of a firm from setting company policies as to fees, rates or geographical areas. #12. Which of these statements about counteroffers is not true? c) The contract can be executed at no cost to the optionee. AACSB: Reflective thinking, 15) If a marketer is seeking to segment a business market, which of the following variables is generally felt to be the most important?