45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021 » Section 8 Unit 1 Exam

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Question #1
Gary is preparing to place a lockbox on the property that his brokerage has recently listed. Which of the following is true?
A.   He must get the seller's permission to place the lockbox.
B.   Lockboxes aren't a good idea.
C.   The lockbox must be visible from the street.
D.   The lockbox can't remain on the property for longer than 60 days.
Question #2
Janice wanted to sell her townhome, and her neighbor was considering buying it. She wanted to put it on the market while she waited to find out if her neighbor was going to buy. In order to receive the best possible representation but avoid paying a commission if her neighbor buys the property, which type of listing agreement would best suit Janice's needs?
A.   Exclusive agency
B.   Open
C.   Net
D.   Exclusive right to sell
Question #3
You're representing a seller. Which of the following is one of your duties?
A.   Purchasing the property in the event that it does not sell
B.   Getting the seller an acceptable price and terms
C.   Assisting the seller with hiding defects, such as water intrusion and mold
D.   Making sure the seller profits on the sale of the property
Question #4
Why should sellers remove family photos and other personal items prior to showings?
A.   So that no one steals important photos.
B.   So that buyers can picture their own items in the home.
C.   Because family photos are old fashioned.
D.   To protect themselves from visitors with criminal intent.
Question #5
Emily received Gerty’s name through a previous client whose home she sold. This is an example of ______.
A.   A referral
B.   Farming
C.   Branching
D.   Cold calling
Question #6
Your seller client pushes back when you share that your commission rate is 7%. He thinks that’s way too much. Which of the following is the best response?
A.   "With all due respect, I'm the real estate expert. As such, my rate is non-negotiable."
B.   "You're right. I'll adjust the commission rate."
C.   "If you're already disagreeing with my methods, it's clear that we're not a good fit. I'll be happy to refer you to one of my colleagues."
D.   "I base my commission on my services. These are the services I will provide for you. Which would you like to forego?"
Question #7
Which of the following scenarios best describes a net listing?
A.   Carmel is selling her condo for $280,000 and is offering 6% commission to the listing broker.
B.   Ralph is selling his townhome for $225,000 and is paying a brokerage fee of $25,000.
C.   Jason is listing his duplex for $400,000 but reserves the right to find his own buyer and not have to pay a listing commission.
D.   Maeve wants to get at least $350,000 when she sells her property and tells her listing agent, Stan, that he can keep anything above that amount.
Question #8
What’s the best way for a licensee to prevent the potential issue with sellers of believing that a property has sold too quickly or took too long to sell?
A.   Advise the seller to file a complaint with the local association of REALTORS® if they're unhappy with the service received
B.   Educate sellers about why a list price has been recommended, and the effect of current market conditions on the length of time a property takes to sell.
C.   Keep a record of the number of hours spent on marketing each property, and show that to the seller.
D.   Explain that real estate is a complicated game with many factors affecting the length of time a property takes to sell.

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