1) Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. At this point, assuming all other contract validity items are in order, what is the status of the offer? D) impulsiveness A seller and a buyer are engaged in a dispute over a forfeited earnest money deposit. 6) Paul's loan payment is the same amount each month. b. an equal advantage. d. customer relationship management program. B) undifferentiated a) a 1 percent down payment. d) The escrow agent will subtract the total of the buyer_s credits from the total debits and the result is what the buyer needs to bring. b. the number of competitors in the particular industry. a) include a title closing entity. E) The most attractive segment is one in which entry barriers are low and exit barriers are high. C) differentiable According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? D) It is a low-cost strategy. Prepare additional documentation to take to the presentation. AACSB: Reflective thinking, 48) To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program. D) market specialization A potential buyer can make an issue a material fact by asking about or expressing their intentions. #12. The cost-to-serve the customer. B) segment attractiveness D) market specialization 2) Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________. NameTornadoInc.TsunamiCorp.TyphoonCorp.NumberofShares8001,2502,140TotalCost$14,00031,25043,870$93,400TotalFairValue$15,60035,00042,800$93,400. b) It is necessary to search public records to ascertain the status of title. Which part contains the product and service elements that all segment members value? 2) If a real estate agent prepares a sales contract and an attorney makes modifications to it, which statement is TRUE? a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. a) Void b) Enforceable c) Enforceable or unenforceable d) Voidable, 3) A contact agreement to sell alcohol to minor would be considered. They will owe a balloon payment at the end of the loan term. It is unwise for marketers to make specialized investments in transactional relationships. a. c) reduce the interest rate by 1/2 percent every 5 years. d) He has given notice of vacating. a) legal. 10) Buyer Rich has asked Seller Sally to hold $15,000 as a second mortgage. C. If buyers can easily switch firms, then buyers have increased power. Obtaining commitment deals only with securing an order. A. a. B) The basic aspects of business customer buying behavior tend to be quite similar in the U.S. and in international markets. a) All residential property b) Homes built prior to 1978 c) Only commercial property d) Only rental property. Daniel F Viele, David H Marshall, Wayne W McManus, DECA practice tests questions multiple choice. 1) Broker Norm prints and completes lease agreements to which he is not a party. b. Transactional and collaborative relationships 9) When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? 5) When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. 4) When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats? a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. Which of the following statements about selling a home as-is in North Carolina is true? AACSB: Analytical thinking, 51) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. _____ features very close information, social, and operational linkages as well as mutual commitments made in expectation of long-run benefits. a) Swing Loan b) Wraparound Loan c) Pillow Loan d) Ancillary Loan. Which statement is TRUE? Which of these is not a good thing to do when writing a counteroffer? a) Right of Purchase b) Right to Rescind c) Right to Deed Access d) Right of Redemption. Which of the following is true regarding the Residential Property and Owner's Association Disclosure Statement? Whether working with a client or a customer a licensee has a duty to disclose all material facts. 6) Buyers Jim and Jan are closing on a home later this month. d) subject to review by a panel of peers. The incidence of a tax is determined by which group (buyers or sellers) must write the check to the government. They were counting on a full-price offer and are very disappointed. E) Their needs are usually harder to define than for final consumers. C) situational factors When does a purchase offer become a legal contract? d) Involuntary conveyance of title by statutory rules of descent. Diff: 1 a) Credit report b) Homeowner's insurance premium c) Earnest money deposit d) Home inspection. d) The broker finds out from the lender and tells the sellers. Give the sellers the price over the phone so that they can think about it before you meet with them. b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. c) using preprinted riders. Each of their payments is for the same amount B. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. Question: 1. Resources are allocated to their most efficient uses. c) valid but unenforceable contract. b. Personalized treatment of the most valuable customers. a) This action is perfectly legal in New York. a) Estate for years b) Estate from period to period c) Estate at will d) Estate at sufferance. c) A chronology of successive owners of record of a parcel of real estate. 9) Which of these would be a CREDIT to the seller at closing? Which of the following statement(s) is/are true regarding death of a seller? View full document. AACSB: Analytical thinking, 65) In ________ marketing, the firm operates in several market segments and designs different products for each segment. 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. B. Set up a face-to-face meeting with the sellers as soon as possible. C. Ricardo & listing agent = seller sub-agent, they have no duty to determine if fences are permitted. b) intended contract. d) A borrower can get a loan with a higher down payment by insuring the loan through private mortgage insurance. 6) What type of loan typically has a low initial rate followed by higher rates? a) $431.62 b) $437.45 c) $1,662.55 d) $1,668.38, 12) Expenses that the seller incurred but have not yet been billed for at the time of closing are. d) provide a fixed interest rate for the life of the loan. d. is not required if the firms are in an arms-length relationship The buyer's agent has the same disclosure obligation, however, in this question because the defect was hidden it does not appear to be an item for which the selling broker (buyer's agent) had liability. A) personal characteristics C) product specialization E) actionable, Answer: D b) contain default penalties. The history of the listing activities, information about the buyers and then the offer itself. A continuing dialogue with customers. 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. 8) Which of the following summarizes the general terms of a ground lease? The U.S. government would not publish NAICS data that gives: C) the total sales volume of the only textile equipment manufacturer in a state. 10) ________ is the science of using psychology and demographics to better understand consumers. c) A sublease does not convey any of the leasehold interest. a) The list of all parties who have ever owned real estate. A) situational factors Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. The difference in assessed fees is about $4,000 . Meet with the buyers lender to ensure theyre getting a good deal. Hurricane Inc. purchased a portfolio of available-for-sale securities in 2014, its first year of A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. #1. c) homeowner's insurance. C) purchasing approaches E) marketing-mix strategy, Answer: D Trust and relationship commitment c) Sara can use a binder but not a sales contract. C) loyalty status b. D) segment "acid test" 1) Which one of the following documents is least like a binder? A home where a homicide, suicide, or haunting occurred 6. a. What type of loan is Steve getting? The sellers make no warranties for the property but must answer truthfully if asked about defects. c) Amanda must deposit the money in the Lawyers' Fund. a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. D) segmented c) If the party who wants to enforce the contract seeks legal relief. The contract was not approved by the local Real Estate Board nor the Bar Association. b. directly assist the customer with planning and strategy issues. d) The loan must be repaid before the borrower's death. A) It makes the company almost bulletproof to competitors' actions. Diff: 1 9) Which contract provision makes previous promises null and void? a. the range of relationship strategies (from transactional to collaborative) that are pursued by competing firms. d. Buying centers. d) allowance contract. a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. d) it may also restrict some uses. c. work with a wide array of managers on strategy and coordination issues. When you receive an offer on a listing for less than asking price, you should not: Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Which of the following clauses is required by the NC Real Estate Commission to be contained within every listing agreement? The listing agreement must be in writing at the time of the listing and the buyer brokerage agreement must be in writing prior to the submission of the buyer's offer. b. a. a) Fee for clearing the title b) Broker commission c) Homeowner's insurance d) Transfer taxes.
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