Business Study guides, Class notes & Summaries

Which one of the following tasks must licensees perform for seller clients? -Dictate the listing price of the property. -Drive the sellers around to show them other properties that are for sale in their neighborhood. -Ensure that the buyer's earnest money is deposited. -Show the sellers how they can market their property. correct answers Ensure that the buyer's earnest money is deposited. **A licensee must ensure the collection of the earnest money deposit from the buyer. Earnest money ma...

It's your first week in real estate and you realize you made a terrible selection with your broker—she's awful! What is your best course of action? Quit the business Sit tight; you can't leave until two years have passed Switch brokerages Turn in a letter of resignation correct answers Switch brokerages What's floor time? Overtime Time spent at an open house that is vacant, without chairs Time spent evaluating carpeting and linoleum for possible upgrades Time spent in the of...

In Texas, whose responsibility is it to supervise associated licensees and review transactional paperwork and advertising? correct answers The Broker's In several states, married couples usually hold property as ______. correct answers Community property What are improvements with regard to property? correct answers Artificial attachments to land that include items such as fencing, buildings, and walkways Both the buyer and the seller have to sign the purchase and sale agreement in ord...

Which of the following is a right of an individual to be left alone? - privacy 363 Data integrity controls reduce the risk of data - alteration 364 When protected health information is shared between two nurses in a hospital, the HIPAA Privacy Rule considers the sharing to be: - use Breaches of protected health information by business associates: - have to be reported to CE who reports to HHS If data are de-identified according to the requirements of the HIPAA Privacy Rule, - When health ...

Which entity creates regulations governing real estate activities in Washington? correct answers Real Estate Commission Brokers must deliver transactional documents and contracts to their managing or designated brokers within how many business days? correct answers Two Firm financial management is a designated broker responsibility in Washington, but financial oversight can be delegated to ______. correct answers Managing brokers If a Washington real estate firm has a branch office, who...

Virginia hic Contractor's Exam questions and correct solutions 2024 What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - CORRECT ANSWER-$500 fine per day for each day of violation plus penalties for a misdemeanor. What is the PRIMARY purpose of licensing? - CORRECT ANSWER-Protect the health and welfare of the public. The application for licensure MUST include - CORRECT ANSWER-the business address of the proposed designated employee....

Virginia Contractor Practice Test (virginia hci) 2024 questions and answers What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - CORRECT ANSWER-$500 fine. Which of the following is a requirement for a joint venture? - CORRECT ANSWEREither the joint venture or each contracting party of the joint venture must be licensed. The application for licensure MUST include - CORRECT ANSWER-the business address of the proposed designated employe...

Which of these is NOT a part of the process at a trustee's sale in Arizona? correct answers Bidders make a $10,000 deposit prior to the sale. If the lender chooses to bid on the property, no other bid is accepted. The highest bid that meets the lender's minimum wins the property. The winning bidder must pay the trustee cash by the end of the next business day. Which of the following is NOT one of the five basics tests that courts use to determine whether an item is a fixture or per...

VA Contractors: General Exam Questions and Answers 2024 Which of the following estimating methods is typically used by the architect rather than the contractor? - CORRECT ANSWER-Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - CORRECT ANSWER-cost plus contract Equipment needs for a project are BEST estimated by... - CORRECT ANSWERCalculating the numb...

Which one of the following terms refers to the dimensions, physical features, and contours of the land? correct answers Topography Justin decided to build a privacy fence around his yard. He thought the fence was along the property line, but it turns out he built it one foot inside his neighbor's property. What will an inspector document as existing on the neighboring property? correct answers Encroachment The term "real estate" refers to which of the following under TRELA's general pr...