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Flashcards in Post License Test Deck (100)
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1

A sales associates leads are sorted into five categories. Which is Not one of those categories?

Close friends and family
Customers
Targeted friends *
Acquaintances

2

Under the Americans with Disabilities Act, architectural barriers must be removed to maximize accessibility if it is readily achievable to do so. Readily achievable is defined to mean that

The removal of barriers can be accomplished with little difficulty or expense

3

A sales associate employs a licensed personal assistant. The assistant will prepare CMAs, design property flyers, hold open houses, and prospect for listing appointments. The assistant will be paid a salary of 12$ per hour and 20% of the commissions received by the sales associate. Which method of payment will satisfy all legal requirements?

The associate may pay the salary and withhold taxes, but the broker must pay commissions.

4

When Sammy started with his new office, his broker suggested he practice filling I. A listing agreement using his own house. This activity will help Sa,,y squire what?

Technical Knowledge

5

Wilson was preparing a CMA for a three bedroom home in Westlake. One of the three comparable sales he reviewed was smaller by 80 square feet, had an extra garage stall, and was in better condition. He made a 6,000 adjustment for square footage, a $5,000 adjustment for the extra garage stall, and a 3,000 adjustment for condition. Which is CORRECT about his analysis?

The subject home is less valuable than the comparable property

6

One of the keys to prospecting success is NOT

Technical Knowledge

7

Larry is making an offer for a new home. He wants to have his spouse's name on the deed in addition to his own, but she won't be present to sign the contract. Larry should

Amend the contract to include his wife's name at closing

8

The BEST source of listings for a new sales associate is

Sphere of influence

9

Apartment properties with "adults only" designations are illegal except when

At least 80% of the units have at least one occupant who is at least 55 years of age

10

John is developing a new strip shopping center in Auburndale. Which parking lot design features must be included to meet the requirements of the Americans with Disabilities Act?

There must be at least one accessible space for every 25 total spaces

11

In Heritage Oaks subdivision, a relatively new neighborhood with 345 homes, the media. Home price is $350,000: last year, 58 houses were sold, a 15% decline from the previous year the TURNOVER INDEX in heritage oaks is

17%

58/345= .16812 rounded is 17%

12

Sales associate Harold has prepared an appraisal of Smiths' home. The purpose of this was so that his buyers could use the appraisal to secure in financing at Apopka National Bank. Which is NOT correct about this situation?

As long as Harold followed USPAP requirements, his appraisal was legal

13

When you answer the phone and speak with a prospective buyer, your principal objective should be to

Make an appointment

14

A fixed-rate, amortized mortgage with 26 payments resulting in a faster loan payoff than the traditional 30-year mortgage is called a

Biweekly mortgage

15

Which is NOT allowed under the CAN-SPAM Act?

Failure to include an opt-out method in commercial advertisements

16

A sales associate leans back and joins his hands behind his head while talking with a prospect. The sales associate is giving the impression of

Superiority

17

Sylvia had a pool put on her property last year that cost 45,000. This year, she sold her house. The appraiser valued the pool at $12,000. This demonstrates the principal of

Contribution

18

A transaction broker had the duty of

Limited confidentiality

19

A contractor who disturbs paint in a 40-year-old house

Must be certified and follow specific work procedures

20

Sales associate s find most of their FSBO contacts from

Classified ads

21

John's home sells for 260,500. Expenses of the sale are 3,800. The brokerage fee is $18,235. Proration so for taxes and interest are $4,450. The mortgage payoff is $162,500. What are the seller's proceeds fro, the sale?

71,515

260,500-162,500-3,800-18,235= 71,515

22

Sales associate Jones is preparing a seller's net statement for Novaks. She estimates a closing date of June 26. Taxes are estimated at 4,000 and interest for June is $3,540. If she rounds to the nearest $100, which entries should she make on the statement

Charge the seller $2,000 for taxes and, to be safe, charge the seller $3,540 interest

23

Which is NOT a requirement of a successful listing presentation?

Have at least six months' experience in making listing presentations

24

Which characteristic of a neighborhood is LEAST likely to make it a good farm area

Low price range

25

A single agent broker must give a brokerage relationship disclosure when a transaction is the

Sale of a condominium

26

When you explain the pricing process during a listing presentation, you would NOT ordinarily discuss

The requirements of the Fair Housing Act

27

Brooke wants to earn at least 90,000 next year. She plans that 60% of the income will come from listings sold and 40% from sales made. If the average commission from listings sold is $3,000, how many listings must Brooke sell in order to achieve that portion of her goals?

18

28

Florida home inspectors

Must have a high school diploma, complete a 120- hour course and pass a state examination

29

Which is NOT one of the three types of operating expenses of an income property

Debt service

30

The pricing pyramid is a visual graphic used in the pricing process showing

That there will be more activity if the property is priced from homes that have been sold.