Real Estate Practice Multiple Choice Questions Flashcards

Real Estate Practice Multiple Choice Questions Flashcards

The most distinctive feature of the Georgian style is the:a.

mansard roof.b. gambrel roof and Dutch doors.c diamond-paned windows and half-timbering.d. five symmetrical windows across the front of the second story.

• five symmetrical windows across the front of the second

story.The ________ coordinator is responsible for paperwork regarding propertyinspections while the transaction is in escrow.a. listingb. escrowc. appraisald. disclosure

• escrow

A salesperson should have _____ months of cash reserves to allowenough time and money to build a substantial client base.a. 6 to 12b. 4 to 6c. 3 or 4d. 1 to 3

• 6 to 12

Sales associate Sam is prioritizing the areas in his life in order to set his annuallong-term goals. Which of the following is not considered a long-term goal?a. Allocating more family timeb. Closing the Lake Street transactionc.Planning to spend more time travelingd. Setting financial goals

• Closing the Lake Street transaction

Prospecting for listings and selling properties are the main

activities of:a. sellers.b. salespeople.c. real estate

assistants.d. transaction coordinators.

• salespeople.

Which device is probably the least used by real estate professionals today?a. WiFi laptopb. Cell phone or smartphonec. Typewriterd. GPS

• Typewriter

An activity involving the sale of something through an intermediary whonegotiates the transaction for payment is

a:a. brokerage.b. listing.c. deposit.d. funding.

• brokerage.

Goals should be SMART. This acronym stands for:a.

specific, measurable, attainable, irrelevant, and timeless.b.specific, imprecise, attainable, unrelated, and timely.c.specific, measurable, unattainable, relevant, and timeless.d. specific, measurable, attainable, relevant, and timely.

• specific, measurable, attainable, relevant, and timely.

Which style is described as a large, two-story masonry or stucco, steep-gabledhouse with a definite medieval feel? It is asymmetrical, has a very steep crossgabledroof, a prominent chimney, and half-timbered exteriors.a. Cape Codb. Spanish Colonialc. Art Moderned. Tudor Revival

• Tudor Revival

The income funnel quantifies the number of prospects from each marketingactivity that must be contacted in order to complete a sale. Which of thefollowing is a marketing activity?a. Open housesb. Regular mailingsc. Website leadsd. All of the above

• All of the above

In order to attract buyers and sellers, a sales associate

must create and use a(n):a. company marketing plan.b.

institutional marketing plan.c. personal marketing plan.d.time management plan.

• personal marketing plan.

A listing agreement is an employment contract between a

seller and a:a. prospecting coordinator.b. buyer.c. broker.d.

salesperson.

• broker.

Scheduling the available time when creating a time

management plan includesall of the following, except:a.

determining what time to start work each day.b. putting activities with high priority first.c. allowing for no contingency time.d. scheduling the weekly business and prospecting activities.

• allowing for no contingency time.

The _______ style is the most popular style in the U.S.since its debut in 1932.a. Cape Codb. Craftsmanc. Shedd.Ranch

• Ranch

A _____ roof is pitched with two sloping sides.a. hipb.gambrelc. gabled. mansard

• gable

What is one way that can help improve your listening skills?a. Pay attention to other tasks while speaking with a client.b. Speak to the client in a noisy environment.c. Focus on the buyer's most important issues.d. Allow your personal prejudice to influence what you hear.

• Focus on the buyer's most important issues.

Several rectangular windows placed in a row with their

frames abutting arecalled:a. sidelights.b. ribbon windows.c.

oriel windows.d. bay windows.

• ribbon windows.

Why do people go into real estate sales?a. High earning potentialb. Independencec. Flexible scheduled. All of the above

• All of the above

The second-story balcony on the front of the house is the most distinguishingfeature of the______ style.a. French Normandyb. Craftsmanc. Montereyd. Ranch

• Monterey

The best way for a sales associate to get name recognition

in his or her targetmarket is to:a. infrequently mail 4-color

postcards to the target group.b. only use television advertising.c. repeatedly mail marketing pieces to the target group.d. rely on the marketing done by the broker.

• repeatedly mail marketing pieces to the target group.

One of the first things you will have to buy before you can

start your career is:a. business cards.b. a smartphone.c. a

WiFi-enabled computer system.d. your real estate license.

• your real estate license.

Real estate salespeople are paid when:a. they obtain a

listing.b. one of their transactions closes.c. the broker receives the earnest money deposits from the buyer.d. the buyer and seller open escrow.

• one of their transactions closes.

A well-designed website should focus on:a. flashy

graphics.b. catchy theme music.c. the needs of its readers.d. leaving out commonly asked questions.

• the needs of its readers.

Post modern is also known as:a. Colonialb. Tudorc.

Mediterraneand. Neo-Eclectic

• Neo-Eclectic

Real estate professionals can minimize risk by:a. denying

the incident.b. documenting every event in a transaction.c.blaming the incident on another sales associate.d.obtaining a highly-paid attorney.

• documenting every event in a transaction.

Someone who is under the control and direction of an

employer is:a. an independent contractor.b. a broker.c. an

employee.d. none of the above

• an employee.

A buyer who is interested in conserving energy would want which of thefollowing features in a house?a. Dual or triple-glazed windowsb. Energy Star® appliancesc.Increased insulation in walls and roofsd. All of the above

• All of the above

Painted geometric designs such as zigzags, chevrons, diamonds, and sunbursts area characteristic of the _ style.a. Art Moderneb. Art Decoc. Internationald. A-frame

• Art Deco

Who determines the amount of commission a broker receives?a. The broker and the sellerb. The broker and the buyerc. The Real Estate Commissionerd. The National Association of REALTORS®

• The broker and the seller

Which style is described as having a low profile, with one to one-and-one-halfstories, a square shape, a low-slung gabled roof, an offset entry with a wide frontporch, rows of high, small "ribbon" windows, and built-in furniture includedthroughout the house?a. Craftsman Bungalowb.Art Decoc. Folk Victoriand. Ranch

• Craftsman Bungalow

John, a sales associate, is on the phone with an angry client who is obviouslyfrust . In this case, John

should:a. lash back at the client.b. listen carefully to the

client's criticism.c. hang up the phone and let the client cool off.d. transfer the call to the next available agent.

• listen carefully to the client's criticism.

Productivity management involves:a. business planning.b.

personal marketing strategies.c. practicing time management.d. all of the above.

• all of the above.

Why is a professional appearance important?a. It shows you respect yourself and your clients.b. You represent yourself and your firm with the way you dress.c. You only have one chance to make a good first impression.d. All of the above statements are true.

• All of the above statements are true.

The main source of earnings for real estate salespeople

and brokers are:a. referral fees.b. commissions.c. desk

fees.d. salaries.

• commissions.

What is the purpose of a prospect management system?a.Record marketing costsb. Report marketing results to prospectsc. Track the source of leadsd. Verify institutional prospects

• Track the source of leads

When people think of a Victorian house, they usually picture the highlyimaginative, ornate, and elaborate_____ style.a. Bungalowb. Queen Annec. Internationald.Mediterranean

• Queen Anne

Preparing CMAs and arranging office previews might be

performed by the:a. listing coordinator.b. escrow

coordinator.c. property coordinator.d. property manager.

• listing coordinator.

The main characteristic of French Normandy style is the:a.

floor-to-ceiling "window walls".b. the five symmetrical windows across the front of the second story.c. red tiled gable roof with very little or no overhanging eaves.d. round stone tower topped with a cone-shaped roof.

• round stone tower topped with a cone-shaped roof.

A practical way to keep sight of long-term goals is to:a.

break them down into mid-term goals.b. set short-term goals.c. focus on financial goals only.d. make travel goals a priority.

• set short-term goals.

When creating a business plan, keep in mind that it:a.

should always remain the same.b. is not necessarily important.c. is not a static document.d. need not be reviewed on a regular basis.

• is not a static document.

The selling points for houses in new neighborhoods

include:a. larger floor plans.b. energy efficiency.c. being

built to stringent safety codes.d. all of the above.

• all of the above.

Expenses that recur every month like your cell phone bill

and car maintenanceare called:a. start-up costs.b. ongoing

expenses.c. tax write-offs.d. unanticipated expenses.

• ongoing expenses.

What are important factors to take into consideration before entering the realestate profession?a. Financial reservesb.Professional attitudec. Good communication skillsd. All of the above

• All of the above

Which popular style of house was called the G.I. house?a.Cape Codb. Colonialc. Queen Anned. Mediterranean

• Cape Cod

Which style is a blend of Italian, Moorish, Byzantine, and early Californiamission influences?a. Montereyb.Mediterraneanc. Missiond. Santa Fe

• Mediterranean