Quiz 1

Question 1 of 14

https://player.vimeo.com/video/150376801

What is the passing percentage on the state test?

70%
75%
80%
85%

Question 2 of 14

https://player.vimeo.com/video/145600433

What is the goal of a listing?

Help someone sell their home
Help someone buy a home
Put a client under contract
Submit property information to the MLS

Question 3 of 14

https://player.vimeo.com/video/145600435

Fill in the blank by selecting all answers that apply.

An Offer is usually accompanied by a ___________. This is to show that the offer is serious and in ____________.

deposit; earnest money
earnest money; good faith
deposit; good faith
earnest money; deposit

Question 4 of 14

https://player.vimeo.com/video/145600744

When a client wants to present changes to an offer, what do they use?

A counteroffer
An addendum
A listing agreement
A buyer’s agreement

Question 5 of 14

https://player.vimeo.com/video/145600746

How much of a down payment is necessary to acquire a VA loan?

0%
3%
5%
10%

Question 6 of 14

https://player.vimeo.com/video/145600747

Why would the buyer make one final walk through of the home before closing?

To make sure the property is in the expected condition
To start moving items into their home.
To measure the room for their furniture
To turn on the water and electricity in preparation for moving in

Question 7 of 14

https://player.vimeo.com/video/145600745

List the steps and stages of a typical residential real estate transaction in the appropriate order.

Walk-Through
Property inspections
Negotiations
Closing preparations
Financing/Appraisal
Showing the property
Contract
Settlement & Closing
Listing the property
Offers to Purchase

View Answers:

Question 8 of 14

https://player.vimeo.com/video/145600987

Agents must be supervised by whom?

A broker
A senior agent
A Realtor
No one, agents are independent

Question 9 of 14

https://player.vimeo.com/video/145600992

List at least 3 services that a selling agent provides.

Pricing property
Preparing home for showing
Effective advertising
Showing to prospective buyers
Negotiations and paperwork
Monitoring closing

Question 10 of 14

https://player.vimeo.com/video/145600991

What is the most important means of advertising?

The MLS
Mailed flyers
Open houses
Newspapers

Question 11 of 14

https://player.vimeo.com/video/145600993

What does Dave recommend when showing a house to a client?

Let the client explore the home on their own
Show the client the details of the home
Encourage clients to see their personal property in the home
Promote the positive things in the home

Question 12 of 14

What are 2 services that the buyer’s agent offers?

Finding the right property
Entering into a contract
Obtaining finance
Completing the transaction

Question 13 of 14

Agents are usually classified as what?

An independent contractor
An employee
A realtor

Question 14 of 14

Did you watch the remainder of lesson 1?

Yes
No

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