PRACTICE OF PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS

PRACTICE OF PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS ( ANSWERS)

1 PRACTICE OF PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS ( ANSWERS) What are the five main areas of the sales process? - ANSWERProspecting, qualifying, presenting, closing, follow-up Someone purposely making their chair higher than the other's is: - ANSWER- positioning What is sole agency? - ANSWER- The agent only represents one client in a transaction A mica-like mineral, when subjected to a heating process, pops or puffs up, creating air pockets. The expanded form was used in insulation. this is: - ANSWER- vermiculite The mortgagee is the: - ANSWER- lender 2 What essential element has to do with delivering a signed copy of the offer to purchase to all parties? - ANSWER- Mutual agreement True or false: the main difference between a customer and a client is engagement. - ANSWER- true What are the 5 C's of credit? - ANSWER- Character, Capacity, Capital, Collateral, Conditions Which principle protects the owner of the title? - ANSWERinsurance principle what is a ground fault circuit interrupter designed to do? - ANSWER- prevent electrical shocks by detecting small variations in current flow True or false: if a person signed a contract and purposely made a mistake because they did not have the money to proceed, then the contract can be voided because of the mistake. - ANSWERFalse True or false: a party wall agreement is the same as a mutual easement. - ANSWER- True