Which statement is TRUE regarding the use of the term REALTOR?

ALL REALTORS are members of the National Association of REALTORS (NAR).

Appraisers are paid a fee because

Accepting compensation is a conflict of interest

The field of property management has experienced growth & specialization primarily because of

The increase in the number of absentee owners.

The term "follow-up" refers to

What a sales associate does for buyers and sellers after the sale.

The term "dedication" as it applies to development & construction refers to

A gift of land by the owner to the local government for a public use

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End of Chapter 1 Exam 2022

11 termsStudBud Administration4 plays

FL Real Estate

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Questions 11

Answers

1
Which type of construction involves building to a buyer's specifications?
Model homes
Track homes
Custom homes
Spec homes
2
Managing which type of property of more than 10 units requires a CAM license?
Commercial property
Apartment building
Condominium complex
Business complex
3
What type of license is required to sell or lease business opportunities for another person?
Business opportunity broker license
Real Estate license
None required, unless a building is being sold woth the business
Business broker license
4
Selecting a limited geographical area in which a real estate professional develops special expertise is
Follow-up
Subdiving
Dedicating land
Farming
5
Which statement is TRUE regarding the use of the term REALTOR?
ALL REALTORS are members of the National Association of REALTORS (NAR).
The terms real estate licensee and REALTOR may be used interchangeably.
All real estate licensees are REALTORS.
The Florida DBPR authorizes yhe use of the term REALTOR.
6
Appraisers are paid a fee because
Custom dictates the method of compensation
The fee would be too high if it were bases on a % of property value
Accepting compensation is a conflict of interest
Only brokers & sales associates are paid commossions for their services
7
The 5 major sales specialties do NOT include
Business
Agriculture
Commercial
Special use
8
The field of property management has experienced growth & specialization primarily because of
The increase in the number of absentee owners.
The increase in the number of licensees specializing in property management
The deregulation of the real estate industry.
Higher construction costs that have caused an increase in the # of renters
9
The term "follow-up" refers to
Returning calls in a timely manner.
Completing instructions given by one's broker.
What a sales associate does for buyers and sellers after the sale.
Following through on listing calls made to for sale by owners.
10
The term "dedication" as it applies to development & construction refers to
Preparing raw land for site improvements
The builder's careful attention to construction details
Recording a subdivision plat map in the public records
A gift of land by the owner to the local government for a public use
11
Effective advertising involving developing a database of prospects to direct a specific message is called
Merchandizing
Computer efficiency
Target marketing
Institutional advertising

End of Chapter 1 Exam 2022 Flashcards | StudBud