A counteroffer can give the buyers an out if they want one. a) Accounts Payable b) Summary Balance c) Accounts Receivables d) Impound AccountD. Which statement is TRUE? When organizational buyers consider changes from one selling firm to another, what are the two main categories of switching costs they consider? d) the federal discount interest rate. 10) ________ is the science of using psychology and demographics to better understand consumers. B) mass 2) Jim signed a six months lease. a) Estate for years b) Estate from period to period c) Estate at will d) Estate at sufferance. 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. c) the mortgage itself provides the only security for the loan. Daniel F Viele, David H Marshall, Wayne W McManus, DECA practice tests questions multiple choice. a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. D) market specialization #1. D) switchers d) It can be created only by an attorney. c. Delivery reliability. a. a) The lender makes payments to the borrower. C) Step 6-segment "acid test" d) The broker finds out from the lender and tells the sellers. a) A listing agreement b) A personal services agreement c) A sale contract d) An option to buy. c) Interest is determined by a combination of fixed loans and outstanding loans. b. solidarity. B) demographic Ch1 bonus questions 1. 9) What is the real estate transfer tax based on? E) actionable, Answer: E B) differentiated A. Customer profitability Diff: 1 _____ features very close information, social, and operational linkages as well as mutual commitments made in expectation of long-run benefits. Even without a buyer's commitment, a sale can take place. e. (a) and (c) only, Business marketing relationships vary in terms of their closeness or degree of collaboration. d) carry prepayment penalties, while government-backed loans do not. Transactions that are almost, if not entirely, void of a close, collaborative relationship: For example, ________ can show the firm which brands are most competitive with its own. B) segment identification E) differentiated, Answer: B LO: 6.1: In what ways can a company divide a consumer or business market into segments? Prepare additional documentation to take to the presentation. When dealing with money the rules all reference "banking" not business days. a. close a. the sensitivity of the salesperson in understanding how business conditions affect the industry within which the buying firm operates. A) undifferentiated Diff: 3 a. Transactional exchanges a. Earnest money must be deposited no later than 3 banking days. 2) Mark gets a home loan and the lender will charge him 3 points at closing. c. Both (a) and (b) are true. a) deliver the title. d. Collaborative exchange, _____ occur in between the two extremes on the relationship continuum, where the focus of the selling firm shifts from attracting customers to keeping customers. B) substantial (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 d) reduces the monthly payment for a borrower during the initial years. d) a document that conveys legal title. d) A lender can continue to collect PMI payments until the homeowner's equity reaches 25%. a) The landlord sells the ground to another, then leases it back. B. b) credits to the seller. d) pay the purchase price for the property. D) differentiable b) states that the contract is subject to the approval of each of the client_s attorneys. What type of lease did Jim sign? C. The process of obtaining commitment occurs only toward the end of any sales call. C. Once you set a goal you should never change it. c) The Torrens title record is the title itself. a) require lower down payments than government-backed loans require. Comment on any similarities or differences present. c) The sellers must give them an extension to secure the loan. d. All of the above. 5) In which type of loan is the payment allocated only to interest? b) states that the contract is subject to the approval of each of the client_s attorneys. operations. 11) Which of the following is not true about reverse annuity mortgages? All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. 1) Which of the following documents is not one that will be needed at closing? c) The maximum purchase price of the property cannot exceed $250,000. The open exchange of information is a characteristic of ____ relationships. C) segment attractiveness 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. Once an offer has been accepted, the agent should do all of the following except which? \hline \text { Tornado Inc. } & 800 & \$ 14,000 & \$ 15,600 \\ C) operating variables AACSB: Analytical thinking, 16) Urgency, specific application, and size of order are examples of ________ segmentation variables for business markets. d) He has given notice of vacating. a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. c. Achieving customer retention. 4) The Statute of Limitations requires that parties to a contract who have been damaged or who question the contract's provisions do what? What type tenant is Mary? Which of the following statements about collaborative relationships is(are) true? a) A certificate issued by a local building department that indicates that the building is in proper condition to be occupied. B) Step 3-segment attractiveness b) decrease the interest rate as the principal declines. The $20,000 is what type of mortgage? LO: 6.3: What are the different levels of market segmentation? a) Map coordinates b) Deed map c) Street address d) Survey map. The listing agreement must be in writing at the time of the listing and the buyer brokerage agreement must be in writing prior to the submission of the buyer's offer. a) Interest is based on a yearly prorated amount on the remaining principal. Its important that sellers realize that a counteroffer is actually a rejection of the original offer, and by submitting one, they are giving the buyers an easy out if they want one. The buyers family is pressuring them to purchase this home. a) a 1 percent down payment. it must contain a nondiscriminatory clause #1. b) There must be evidence that a structural inspection has shown no evidence of pest infestation. 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} d. intend to move each partner toward the attainment of some long-term strategic goal. Marketing Management chapter 1 practice test Flashcards - Easy Notecards #14. a) Two calendar days b) One business week c) One calendar week d) One business day, a) Buyer b) Seller c) The buyer and the lender d) The buyer and the seller. Diff: 2 C) concentrated c) He has given due process. d) 10 percent of the loan amount. D. AACSB: Reflective thinking, 47) In the ________ step of the market segmentation process, the marketer determines which demographics, lifestyles, and usage behaviors make each needs-based segment distinct and identifiable. A purchase offer is a binding contract between the buyer, the seller and their agents. a) requires recording of a leasehold conveyance. Product quality. Answer: B D) socio-economic infrastructure 1) Proof of ownership of a property is called what? They do not limit the ability of a firm from setting company policies as to fees, rates or geographical areas. What can be said about Norm's actions? 1) Which of the following statements about market segmentation is TRUE? E) operating variables, Answer: E LO: 6.2: How should a company choose the most attractive target markets? b) are less flexible than government-backed loans . b) If the party who has reason to disaffirm the contract elects instead to perform it. c) The apartment can be decontrolled. each) ________1. b) for a buyer who plans to own the property for a long time. A counteroffer represents a rejection of an offer. 8) Newlyweds in the United States buy more in the first six months than an established household does in five years. b. distant a) Preservation and Maintenance of Property b) Property Inspection Report c) Property Order d) Borrower's Duties. The buyer's primary function at closing is to. a) After a cooling period b) After both parties have signed it c) After it is performed d) After the parties agree to their respective promises. Question: 1. A) segment "acid test" D) global segmentation a) Power of Attorney b) Power of Use c) Waiver of Attorney d) Attorney At Use. b) The apartment can be converted to a rent-controlled apartment. B) microsegmentation What action has Bill taken regarding his lease requirement? d) The broker finds out from the lender and tells the sellers. B) conducting VALS tests c) They are always a debit to one party and a credit to the other party for the same amount. a) through verbal agreements. C) differentiated a) Fixed b) Straight c) Amortized d) Open. AACSB: Analytical thinking; Application of knowledge, 69) All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion. 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. b) The bundle of rights linked to the recorded title to a parcel. a) legal. D) It is a low-cost strategy. d) Amanda has done nothing wrong. Which of the following statement(s) is/are true regarding death of a seller? Transactional exchange features very close: On-going transactions in the business market where the customer and the supplier focus only on the timely exchange of standard products at competitive prices could be described as: There is a gravitational pull that moves buyers toward the transactional side of the exchange spectrum because: _____ reflect(s) the degree to which the systems, procedures, and routines of the buying and selling firms have been connected to facilitate operations.
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