Fill out a separate, numbered counteroffer form. D) purchasing approaches d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. d) enforceable contract. B) situational factors C) segment profitability a) A parol contract b) A six-month lease c) A two-year lease d) An executory contract. c) record the transaction. c) will be a debit to the seller. d) the borrower must have a co-signer. d) Interest is based on a selected economic indicator index. b) contain default penalties. When a business marketer demonstrates special skills in managing relationships with key customers or by developing innovative strategies with alliance partners, they are trying to create: c. refers to the ability of an interfirm relationship to achieve desired objectives. 11) What type of loan is often used when a seller will not accept a property sale contingency? d) after 7 years of loan payments. a) Graduated b) Gross c) Percentage d) Net. a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. 2) If an attorney make changes to an offer, what action should follow? Two hours later, the buyer finds a better house, calls the first seller, and withdraws the offer. #5. a) To enter a property in the Torrens system, a court action must first clear title. 3) Which of these is a common property description? Comment on any similarities or differences present. e. none of the above, For collaborative customers, the business marketer should: If a seller signs a sales contract and dies before the closing of the property, the sales contract is terminated. b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. a) Receipt b) Contract for sale c) Agreement d) Purchase offer. b) credits to the seller. b) after 5 years of loan payments. Which part contains the product and service elements that all segment members value? Net listings are legal, but they are discouraged by the real estate commission due to their potential for taking advantage of a client. H0:=.20H_0: \pi=.20H0:=.20 versus H1:.20,=.025,p=.28,n=100H_1: \pi \neq .20, \alpha=.025, p=.28, n=100H1:=.20,=.025,p=.28,n=100. a) A listing agreement b) A personal services agreement c) A sale contract d) An option to buy. 1) Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 4) Which of these items is not included in a lease agreement? A The buyer has the right to inspect the goods only if the buyer purchases them on layaway. B) discretionary solution b. directly assist the customer with planning and strategy issues. b) It must use precise wording in a document. b) The apartment can be converted to a rent-controlled apartment. When organizational buyers consider changes from one selling firm to another, what are the two main categories of switching costs they consider? d. commission. When business marketers are assessing which of their current customers represent the best opportunities for growth, which of the following factors should be considered? b. solidarity. create, study and share online flash cards. b) are less flexible than government-backed loans . c. relationship commitment. AACSB: Reflective thinking, 21) A ________ offering consists of two parts: a naked solution and discretionary options. C) operating variables LO: 6.2: How should a company choose the most attractive target markets? \text { Name } & \text { Number of Shares } & \text { Total Cost } & \text { Total Fair Value } \\ a) Percentage b) Net c) Provisional d) Graduated. A) measurable b) It could be a violation of state licensing laws. Diff: 2 Which statement is true about prospecting for buyers? b) pay the real estate taxes. it must contain a nondiscriminatory clause #1. c) open. On June 12, 2015, Hurricane purchased 1,450 shares of Rogue Wave Inc. at $45 per 7) How does the buyer know how much money to bring to closing? 4) What is the purpose of the Lawyers' Fund? d) It is permissible in amounts under $50. a) legal. 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? At this point, assuming all other contract validity items are in order, what is the status of the offer? 6) RESPA applies to all of the following EXCEPT which? c) debits to the buyer. c. an arm's length transaction. D) segment positioning LO: 6.1: In what ways can a company divide a consumer or business market into segments? a) Estate at will b) Estate for time c) Estate for years d) Estate at sovereignty. Why is it important to talk to the sellers about the buyers? Which statement is true? A. listing agent = duty to disclose listing 411 sheet that fences were not permitted. c) If the party who wants to enforce the contract seeks legal relief. Death of the party to an agreement ends an employment contract such as a listing or buyer broker agreement. However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. E) full market coverage, Answer: A a) Map coordinates b) Deed map c) Street address d) Survey map. AACSB: Analytical thinking, 22) When marketers present flexible market offerings to all members of a business segment, their offerings consist of two parts. 6) In which contract section might you the property address? The buyer's primary function at closing is to. #11. How are unrealized gains and losses treated differently for available-for-sale securities Ricardo is showing the buyer a house as seller sub-agent. d) provide a fixed interest rate for the life of the loan. LO: 6.3: What are the different levels of market segmentation? B) substantial a) Interest is based on a yearly prorated amount on the remaining principal. d. is not required if the firms are in an arms-length relationship Which of the following statements about collaborative relationships is(are) true? a) estates at will. 11) If a seller prepaid an insurance policy of $2,100 and the closing is set for March 15, using the 12-month/30-day method, what will the buyer owe the seller? C) situational factors d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. b) The buyer's agent tells the seller's agent. b. the ability of the salesperson to understand the selection criteria of each member of the buying center. B. Ricardo = duty to determine if fences were permitted even if listing 411 sheet did not indicate anything regarding fences. d) A sublease conveys the entire leasehold interest. Question: 1. 6) Paul's loan payment is the same amount each month. d) 10 percent of the loan amount. #12. Which of the following statement(s) is/are true regarding death of a seller? b) Private mortgage insurance is available for FHA loans. b) It requires certain conveyance-related contracts to be in writing. c. Investments and risk of exposure B. the listing agent and the buyer's agent. If the closing is set for October 15, using the 365-day method, how much of the taxes will be credited to the buyer? b) 5 percent of the loan amount. c) They are always a debit to one party and a credit to the other party for the same amount. d. a strategic alliance. Each of their payments is for the same amount B. 4) A contract that conveys an interest in real estate must. 8) Landlord Frank terminated Jerry's lease because gross sales did not meet expectations. a) expressed contact. Sam Seller lists his property with EX Realty. A) need-based segmentation 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. a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. A new Estimate of Sellers Proceeds, using the current offering price as the basis and an updated competitive market analysis, would be helpful. If a seller and a listing firm have a commission dispute prior to the closing, the listing firm: A. is not allowed to release any earnest money being held until the commission dispute is settled, B. is to hold up the closing until the dispute is settled, D. cannot release any earnest money until there is a signed release between the seller and buyer. AACSB: Reflective thinking. C) guerrilla b. c) Amanda must deposit the money in the Lawyers' Fund. B) segment identification d) Amanda has done nothing wrong. a) This action is perfectly legal in New York. b) The mortgage contingency clause is not valid. 1) What is an important legal feature of a contract? Paul is most likely holding what kind of loan? a) increase the interest rate as the principal declines. c) The maximum purchase price of the property cannot exceed $250,000. Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. A) Step 2-segment identification a) Fire b) Flood c) Theft d) Explosion. Diff: 1 b) entails entering into two agreements simultaneously. C. Ricardo & listing agent = seller sub-agent, they have no duty to determine if fences are permitted. LO: 6.2: How should a company choose the most attractive target markets? Diff: 2 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. a) $680 b) $1,360 c) $2,040 d) $2,720. Diff: 2 Diff: 1 14) In an effort to make it possible for veterans returning from World War II to purchase a home, the Veterans Administration offered the opportunity for veterans to purchase a home with. a) A certificate issued by a local building department that indicates that the building is in proper condition to be occupied. When the price elasticity of demand is low and the price elasticity of supply is high, the burden of a tax falls mainly on producers. B) The basic aspects of business customer buying behavior tend to be quite similar in the U.S. and in international markets. Customer profitability 8) What is used to seal a binder agreement? C) segment profitability a) Mortgage Company b) Local HUD Office c) Savings and Loan Association d) Commercial Bank. 5) What is the interest rate on an ARM tied to? d) pay the purchase price for the property. a) a survey of the property. Which of the following is TRUE? b. 6) Which of the following contracts must be in writing to be enforceable? A property owner lists a property for sale with a broker. AACSB: Analytical thinking, 50) If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process? C) purchasing approaches a. see that operational linkages are designed into the relationship to keep product and service offerings aligned with customer needs. d) contain a legal description of the property. When dealing with money the rules all reference "banking" not business days. d. all of the above When making your presentation, what topics should you cover? Diff: 2 10) Taxes on the property Buyer Alan is purchasing are $3,200 due on December 31. B) segment attractiveness B. It's easier to prioritize your tasks if your goals are in writing. C. Once you set a goal you should never change it. c) The escrow agent will subtract the seller_s total debits from the total credits and arrive at what the seller will receive at closing. d. Operational linkages and relationship connectors. c) settlement statement. a) Prior deed b) Copy of property tax bill c) Prior title insurance policy d) Seller's credit report. 6) Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler. c. A strategic alliance Which of the following performance attributes has research recently shown influences customer satisfaction of business buyers? e. (a) and (c) only, Business marketing relationships vary in terms of their closeness or degree of collaboration. Which statement is TRUE of a listing agreement? a) A promise to pay b) A judgment letter c) A property lien d) Earnest money. c. Buyers prefer collaborative relationships when the purchase decision is not complex. LO: 6.3: What are the different levels of market segmentation? 8) Conventional loans are typically uninsured. c) the mortgage itself provides the only security for the loan. B) purchasing approaches \text { Typhoon Corp. } & 2,140 & \underline{~~43,870} & \underline{~~42,800}\\ E) actionable, Answer: D c) allows for contract approval by a third party lawyer hired by the broker. Hurricane Inc. purchased a portfolio of available-for-sale securities in 2014, its first year of a) A borrower can reduce monthly interest rate payments over the life of the loan by getting private mortgage insurance. b) a class 3 felony. He does not have to pay off his existing mortgage in order to qualify. c) is subordinate to a first mortgage. 7) A buyer submits an offer to a seller. c) He has given due process. c. The supply of goods is sold by the sellers with the lowest costs. C) A segment is attractive when there are actual or potential substitutes for the product. 1) Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. The buyers have been pre-qualified by a lender. 4) The Statute of Limitations requires that parties to a contract who have been damaged or who question the contract's provisions do what? E) operating variables, Answer: A LO: 6.1: In what ways can a company divide a consumer or business market into segments? All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. LO: 6.2: How should a company choose the most attractive target markets? E) micro, Answer: B #3. AACSB: Analytical thinking, 18) A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve. 15) The loan origination fee on a VA loan cannot exceed. a) Proceeds from tax exempt mortgage revenue bonds. D) user status c. D) switchers ), a) The seller's share of $2,533.38 b) The buyer's share of $666.62 c) The seller's share of $2,525.76 d) The buyer's share of $674.24. LO: 6.1: In what ways can a company divide a consumer or business market into segments? A seller and a buyer are engaged in a dispute over a forfeited earnest money deposit. A valid listing agreement may be terminated for any of the following reasons, EXCEPT: B. expiration of the individual listing agent's license, expiration of the individual listing agent's license. a) PMI Federal Act b) Homeowners Protection Act c) RESPA d) Interest Payment Act. 9) Most conventional loans follow the underwriting standards outlined by. All multiple offers must be presented at the same time; if you know of an offer that is coming in, you must tell the sellers at the time you present the current offer; if you know of any verbal offers, share that information with the sellers also. a) Allowance Clause b) Passage Clause c) Demise Clause d) Demising Clause. 9) Which contract provision makes previous promises null and void? LO: 6.3: What are the different levels of market segmentation? B) Step 3-segment attractiveness A company reports pretax accounting income of $10 million, but because of a single temporary difference, taxable income is only$7 million. d) carry prepayment penalties, while government-backed loans do not. a) Retail Level Lease b) Percentage Lease c) Reorder Lease d) Market Level Lease. Ricardo does not tell the listing agent anything about a fence. Which statement is TRUE? d) He has given notice of vacating. Diff: 2 b) They are always a debit to the seller and a credit to the buyer. Buyers hire an agent to help them purchase a home and want seller financing because they filed for bankruptcy two years ago. If a seller dies after signing a listing agreement, the listing agreement is terminated. Which of the following statements is(are) true? a) Open b) Balloon c) Fully Amortized d) Retraced. 7) What kind of lease contains a recapture clause? 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. d. Collaborative exchanges. 14) Which of the following is NOT an FHA loan requirement? A) It is of little importance when products are standardized. a) The contract must be rewritten and signed again. 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. a) It invalidates certain oral contracts. LO: 6.1: In what ways can a company divide a consumer or business market into segments? E) differentiated, Answer: B C) segment attractiveness 4) Which part of a contract deals with the legal requirements to enter into a contract? Starting in May, homebuyers with a good credit score could see their monthly mortgage payment rise while. d) estates from period to period. 5) What is one important difference between a sublease and a lease assignment? b) The leased property is foreclosed. A home for sale awaits prospective buyers on October 27, 2022, in Hollywood, Florida. Part I: True or False Item Write "True" if the statement is correct and "False" if it is incorrect in the space provided (1 pt. d) allowance contract. AACSB: Analytical thinking; Application of knowledge, 13) Mothers-to-be are potential users who will turn into heavy users of infant products and services. c) using preprinted riders. E) horizontal market, Answer: B Ch1 bonus questions 1. c) The landlord leases the ground floor of the building to a commercial tenant. b) voidable and illegal contract. LO: 6.3: What are the different levels of market segmentation? Notification is the delivery of a signed copy of the acceptance to the offeror. b. Solidarity c) They are always a debit to one party and a credit to the other party for the same amount. What type of loan does Jim hold? e. (a) and (c) only. 6) Which legal remedy resets parties to pre-contract status? a) Expense b) Credit c) Debit d) Proration. The incidence of a tax is determined by which group (buyers or sellers) must write the check to the government. d) Mark can be evicted. 8) Which of the following summarizes the general terms of a ground lease? A. wait for a signed release from the buyer, B. try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice, C. inform the buyer that the seller is being unreasonable and explain that the broker must release the earnest money to the seller, D. disperse the money according to the terms of the Offer to Purchase and Contract, try to obtain mutual consent from all parties as to the disposition of the earnest money and if that is not possible then the funds cannot be released and may be paid into the clerk of courts with proper notice. When the party who made the offer is notified of its acceptance. LO: 6.2: How should a company choose the most attractive target markets? b) survey. A) single-segment concentration A) Buyers for all kinds of organizations (governments, nonprofit groups, intermediaries) tend to buy in much the same way as do manufacturers. Discuss the accuracy of this statement. Price discrimination is indistinguishable from dumping. Which statement is TRUE in a market with a price ceiling? E) personal characteristics, Answer: A 5) Which aspect of a contract deals with when a tenant takes possession of the property? 3) Prospecting for buyers has a much lower return on output than prospecting for sellers. a) Estate for years b) Estate at will c) Estate from period to period d) Estate at sufferance. Then present the $208,000 offer. A) macrosegmentation Prepare additional documentation to take to the presentation. e. none of the above. AACSB: Reflective thinking; Application of knowledge, 63) In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________. D) impulsiveness Buying firms prefer a transactional relationship when: Buying firms prefer a more collaborative relationship when: Which of the following statements about buyer-seller relationships is(are) true?
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