which statement about buyers is true? which statement about buyers is true?

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. Diff: 2 E) purchasing approaches, Answer: B 3) Which statement best defines the concept of "quiet enjoyment? a) Window Loan b) Home Equity Loan c) Reverse Annuity Mortgage d) Blanket Loan. #7. Diff: 2 Diff: 2 3) What is the most common form of property description? 9) Bill has informed his landlord that he will be moving in 30 days. The fact that the NC listing agreement and buyer agency agreement must be in writing is required by: Employment agreements are not a right or interest in real estate subject to the statute of frauds, but need to be in writing due to commission rules. Which of the following statements is true of obtaining commitment from a buyer? b) All parties to the contact must initial the changes. The seller disagrees, crosses out the points clause, then signs and returns the document to the buyer. Prepare the appropriate journal entry to record income taxes. D. Goals must be realistic if you hope to accomplish them. d) subject to review by a panel of peers. e. None of the above. C) segment attractiveness D) socio-economic infrastructure c) reduce the interest rate by 1/2 percent every 5 years. b) If the party who has reason to disaffirm the contract elects instead to perform it. b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. d) It's an invalid offer. d) states that a lawyer can rescind the contract terms within 10 days of contract approval. a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. b) executable. b) decrease the interest rate as the principal declines. The primary difference between an open listing and an exclusive agency agreement would be: A. the seller retains the right to sell the property himself and is not liable for a commission, B. the seller can list with as many brokerages as he wishes in the open listing, C. the exclusive agency agreement stipulates the firm is the only one that can sell the property and be entitled to a commission regardless of who sells it, even the seller, D. the seller can sell it himself in the exclusive agency agreement but is not allowed to sell it himself in the open listing without being liable for the commission, the seller can list with as many brokerages as he wishes in the open listing. 6) RESPA applies to all of the following EXCEPT which? a) deliver the title. E) The most attractive segment is one in which entry barriers are low and exit barriers are high. d) carry prepayment penalties, while government-backed loans do not. d) He has given notice of vacating. c. trust in the salesperson. c) The contract becomes unenforceable. a) both an instrument of conveyance and a contract. c) They are always a debit to one party and a credit to the other party for the same amount. e. none of the above, From the customer's perspective, relationship quality centers on: D) need-based segmentation a) Prior deed b) Copy of property tax bill c) Prior title insurance policy d) Seller's credit report. D) accessible Paul is most likely holding what kind of loan? a) 2 percent of the loan amount. a. 3) Prospecting for buyers has a much lower return on output than prospecting for sellers. 6) A homeowner's insurance policy typically covers all but which of these? LO: 6.3: What are the different levels of market segmentation? B) A segment is unattractive if buyers possess strong or growing bargaining power. If a check was provided NCREC allows BIC's and firms to start counting the 3 days from the acceptance of a contract. When the party who made the offer is notified of its acceptance. d. all of the above They do not try to get a loan, and when the deadline for loan approval draws near, they tell their agent they couldn't get a loan. According to North Carolina Real Estate Commission Rules, all of the following are required to be part of a listing agreement, EXCEPT: Listing agreements and buyer broker agreements may not provide for an automatic extension of the agreement. d) A lender can continue to collect PMI payments until the homeowner's equity reaches 25%. b) He has given notice. LO: 6.2: How should a company choose the most attractive target markets? a) It represents a "meeting of the minds.". _____ illuminates exactly what activities are associated with serving a particular customer and how these activities are linked to revenues and the consumption of resources. C) segment profitability c) A chronology of successive owners of record of a parcel of real estate. Whether working with a client or a customer a licensee has a duty to disclose all material facts. d) require higher down payments than government-backed loans require. a) Right of Purchase b) Right to Rescind c) Right to Deed Access d) Right of Redemption. a. No temporary differences existed at the beginning of the year, and the tax rate is 40%. D) user status b. Value-added exchange a) Construction b) Wraparound c) Open-end d) Bridge. c. social 6) What type of loan typically has a low initial rate followed by higher rates? #3. 9) What do we call the right of a person to have the first opportunity to purchase or lease a property? What type of lease did Jim sign? AACSB: Analytical thinking, 17) In segmenting its markets, an aluminum company first looked at which end-use market to serve: automobile, residential, or beverage containers. 9) Most conventional loans follow the underwriting standards outlined by. d. a transactional exchange. a. do not involve the exchange of money. e. (a) and (c) only, Business marketing relationships vary in terms of their closeness or degree of collaboration. D) purchasing approaches A buyer representation agreement is employed contract between a buyer and a broker .it is a single agency agreement in which the broker agrees to represent a buyer in purchasing property Click the card to flip 1 / 44 Flashcards Learn Test Match Created by gowergurl Terms in this set (44) A) needs-based segmentation d. customer relationship management program. B) Step 3-segment attractiveness (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the 3) What do we call the right to reclaim a property that has been foreclosed by paying off amounts owed to creditors, including interest and costs? a) deed. The cost and fair value of this portfolio on December 31, 2014, was as follows: NameNumberofSharesTotalCostTotalFairValueTornadoInc.800$14,000$15,600TsunamiCorp.1,25031,25035,000TyphoonCorp.2,14043,87042,800$93,400$93,400\begin{array}{lrrr} Which of the following statements is true of buyerpower?A. C. Once you set a goal you should never change it. Diff: 2 #5. a) It is common business practice. LO: 6.3: What are the different levels of market segmentation? E) niche, Answer: C a. Transactional exchanges D) impulsiveness a) Credit b) Proration c) Debit d) Reimbursement. C) geographic segmentation A) niche b) The leased property is foreclosed. B) situational factors E) consumer motivation, Answer: E In which situation would Sam not owe a commission to EX Realty? d) The real estate must be appraised by an approved FHA appraiser. c) excusable. E) gatekeeper, Answer: A The clause in a listing contract that protects the broker's commission entitlement beyond the listing term in the event of a sale of the property by the owner to a prospect who was shown the property by the listing firm or it's agents is called. 3) A contract which neither party can enforce is called. d) It can be created only by an attorney. C) It creates synergy between markets. a) Fee for clearing the title b) Mortgage recording fee c) Homeowner's insurance d) Title search. D) Step 1-needs-based segmentation A) hard-core loyals Which of the following is true regarding the Residential Property and Owner's Association Disclosure Statement? Recommend a counteroffer back to list price. A continuing dialogue with customers. a. Prior to being shown any house, the buyer tells Ricardo it is essential he have a fence erected around the backyard of any house he purchases. 1) Prospecting for buyers is easier than prospecting for sellers. D. The agent should point out that price is only one aspect of the offer and then go on to discuss the other terms of the agreement that may appeal to the sellers. Once Ricardo knew the fence was a material issue to the buyer he was bound to take some action. a. invest resources to build operational linkages and information-sharing mechanisms for the relationship. 15) Which of the following does not meet the criteria for a VA loan? Resources are allocated to their most efficient uses. a) Inherently long-term leases b) Inherently short-term leases c) Tax advantage limitations d) Reduction in finance options. c) 1 percent of the loan amount. D. Since buyer didn't have agent, it's his responsibility to check about fences. c. The supply of goods is sold by the sellers with the lowest costs. 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? Procurement officer, supply manager, purchasing agent, and buyer are titles for an organization's: A modified rebuy would be most likely when: B) a car producer is developing a sportier car which will require wider tires. D) examining the demographics section of the handbook of marketing 3) Which statement best defines a Certificate of Occupancy? a) Fixed Rate Loans b) Bump Loans c) Adjustable Rate Loans d) Retracted Loans. 2) Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________. b) neither an instrument of conveyance nor contract. A. a) It invalidates certain oral contracts. Even without a buyer's commitment, a sale can take place. a) The tenant fails to pay rent. All of the following statements about organizational buyers are true except: C) organizational buyers rarely focus on economic factors. 1) Which type of lease has no automatic renewal? d) The tenant leases the ground from the landlord and owns the improvements. c) include all outstanding liens against the property. Trust a. a collaborative advantage. Which of the following are goals of customer relationship management (CRM)? Starting in May, homebuyers with a good credit score could see their monthly mortgage payment rise while. b. d) A sublease conveys the entire leasehold interest. A(n) _____ represents the products, services, ideas, and solutions that a business marketer offers to advance the performance goals of the customer organization. A) situational factors Diff: 2 a) Receipt b) Buyer's Statement c) Purchase Offer d) An Agreement. A The buyers' family is pressuring them to purchase this home. What is important for the sellers to know about a counteroffer? A) measurable What type tenant is Mary? If firms cannot switch suppliers easily, thenbuyers have decreased power. LO: 6.2: How should a company choose the most attractive target markets? a) Preservation and Repair of Property b) Preservation and Maintenance of Property c) Property Order d) Borrower's Duties. d) for a seller in a buyer's market. Diff: 2 A counteroffer represents a rejection of an offer. B) flexible market d. all of the above create, study and share online flash cards. b. Solidarity b) Private mortgage insurance is available for FHA loans. a) an index. b. Collaborative relationships are less likely to involve operational linkages between the buying and selling firms. For transactional customers, the salesperson should center primary attention on the purchasing staff. 7) Which kind of lease increases at specified intervals? 1) Broker Norm prints and completes lease agreements to which he is not a party. a) Map coordinates b) Deed map c) Street address d) Survey map. 8) Conventional loans are typically uninsured. a) Left side of page 1 b) Right side of page 1 c) Top of page 2 d) Bottom of page 2, 1) The buyer's primary function at closing is to. b. Personalized treatment of the most valuable customers.