A crosstabulation of type of customer (regular or promotional) versus net sales. a) A listing agreement b) A personal services agreement c) A sale contract d) An option to buy. B) It is a process of evaluating each segment's attractiveness and selecting one or more to enter. c. Achieving customer retention. b. Value-added exchanges Ricardo finds perfect house for buyer but it does not have a fenced in backyard nor does the listing information sheet indicate whether fences are allowed or not. They have the right to review the completed settlement statement how long before closing? 2) Which statement about the Torrens system is FALSE? 3) Which statement best defines the concept of "quiet enjoyment? AACSB: Analytical thinking, 46) In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access. How are unrealized gains and losses treated differently for available-for-sale securities c) A borrower can get a VA loan with a lower down payment by insuring the loan through private mortgage insurance. a) The potential buyer, the optionee, is obligated to buy the property once the option agreement is completed. LO: 6.3: What are the different levels of market segmentation? d) The contract will be valid after a five-day waiting period. Then present the $208,000 offer. a) Attachment b) Covenant c) Bond d) Bill. LO: 6.1: In what ways can a company divide a consumer or business market into segments? chapter 6 test Flashcards | Quizlet What can be said about Norm's actions? a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. Diff: 2 d. is not required if the firms are in an arms-length relationship a) Executory b) Lateral c) Executed d) Open Option, 2) A patron at a restaurant is agreeing to a(n). c) The contract can be executed at no cost to the optionee. B) substantial 1) Which of the following statements about market segmentation is TRUE? c) the Mortgage Loan Trust Bank. a. Transactional exchange c) It's still an offer. b. The agent can tell Ben and Blanche that the $200,000 offer represents 96% of their asking price. In North Carolina, which of the following properties may be considered stigmatized? b) There must be evidence that a structural inspection has shown no evidence of pest infestation. Which is true of a valid listing agreement in NC? c) A landlord's obligation to provide the tenant with reasonable privacy and freedom from interference. The bill is $39.00 per quarter. a) To enter a property in the Torrens system, a court action must first clear title. a. Responsiveness of the supplier in meeting the firm's needs. Customers prefer a transactional orientation when there are few alternative offerings from suppliers. d) provide a fixed interest rate for the life of the loan. d) She can use this contract as long as it contains an attorney review clause. c. always-a-share customers. Notification is the delivery of a signed copy of the acceptance to the offeror. c) It is not voidable. b) The apartment can be converted to a rent-controlled apartment. a) The lender calculates what the buyer owes and then tells the sellers what they will receive. The seller has no reasonable basis for refusing to allow the broker to return the earnest money to the buyer who cancelled within their due diligence period. A counteroffer represents a rejection of an offer. (Assume it is not a leap year and the day of closing belongs to the seller. 3) Which statement best defines a Certificate of Occupancy? A) segment "acid test" 1 Which of the following statements about marketing is true? 12) Where on the Uniform Settlement Statement will you find the information that deals with the buyer's side of the transaction? LO: 6.3: What are the different levels of market segmentation? C) decider a) Act within a statutory period. Trust and relationship commitment c. are one-time exchanges of value between two parties with no prior or subsequent interaction. B) substantial Large wholesale and retail buyers typically: D) buy most of their products as straight rebuys. Explain. LO: 6.1: In what ways can a company divide a consumer or business market into segments? Hold both offers because he heard that a full-price offer is on its way. 9) Which of these would be a CREDIT to the seller at closing? E) horizontal market, Answer: B #9. 5) Mike signed a rental agreement for his friend Norm. B. This is an example of a. a) legal and binding contract. C) guerrilla LO: 6.1: In what ways can a company divide a consumer or business market into segments? D) It is a low-cost strategy. b) the gross national product. View full document. He does not have to pay off his existing mortgage in order to qualify. c) Brokers may not complete leases to which they are not a party. 6) Which contract element indicates a mutual agreement? 10) Which statement about prorated items is TRUE? b) via handwritten notes. When dealing with money the rules all reference "banking" not business days. Ben and Blanche receive a $200,000 offer on their home which is listed at $208,000. D. Since buyer didn't have agent, it's his responsibility to check about fences. One offer is for $208,000; the other is for $200,000. A) need-based segmentation On June 12, 2015, Hurricane purchased 1,450 shares of Rogue Wave Inc. at $45 per LO: 6.3: What are the different levels of market segmentation? D) segment profitability 11) Fred has an existing property mortgage, but seeks a second loan. B) It automatically binds the owner, the broker, and the MLS to its agreed provisions. d) accrued expenses. A home where a homicide, suicide, or haunting occurred 6. A) undifferentiated Who typically presents an offer to the sellers? A) individual c) have more paperwork than government-backed loans. A) measurable d. all of the above a) Retail Level Lease b) Percentage Lease c) Reorder Lease d) Market Level Lease. 7) Which kind of lease increases at specified intervals? a) Open b) Balloon c) Fully Amortized d) Retraced. AACSB: Reflective thinking. According to the North Carolina Real Estate Commission, what should the broker do about the earnest money? Which of the following is not true regarding organizational buyers? b) All parties to the contact must initial the changes. b) It is necessary to search public records to ascertain the status of title. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. a) Pest inspection b) Insurance premium paid in advance c) Soil test d) Survey. a) when the loan-to-value ratio reaches 50 percent. A) attitude c) They are always a debit to one party and a credit to the other party for the same amount. a) Backload loan b) Balloon c) Amortized d) Term mortgage, 6) An interest-only loan might be a good choice. d) A lender can continue to collect PMI payments until the homeowner's equity reaches 25%. c) have more forms than government-backed loans. a. C) operating variables D) switchers D. c) A notary must sign and stamp the changes. What action has Fred taken? #2. d) contain a legal description of the property. Projected profit margins. Which statement is TRUE of a listing agreement? d. All of the above. 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. B) buyer-readiness stage LO: 6.1: In what ways can a company divide a consumer or business market into segments? 6) RESPA applies to all of the following EXCEPT which? B) undifferentiated 4) When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats? c. the firm can identify opportunities for expanding the relationship. 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. #10. 4) Which of these items is not included in a lease agreement? Diff: 1 b) If the party who has reason to disaffirm the contract elects instead to perform it. A) macrosegmentation a) a felony. a) Freddie Mac and Fannie Mae. 6) Broker Amanda prepares a sales contract, collects the earnest money and deposits it in her business account. Diff: 1 B) purchasing approaches e. None of the above. E) consumer motivation, Answer: E 6) Broker Sara completes a preprinted sales contract. The seller and the buyer must be informed of the situation and agree in writing to the broker's representing both of them. a) Revolving Lease b) Wholesale Lease c) Index Lease d) Leading Indicator Lease. A. listing agent = duty to disclose listing 411 sheet that fences were not permitted. 4) RESPA gives the buyer the right to review the completed settlement statement how long before closing? Effective machine life is only determined by the durability of the machine. c. Competitive exchanges 4) In which contract provision would the length of the lease be outlined? B) conducting VALS tests 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. What should Jake do? a) prepaid expenses. c. work with a wide array of managers on strategy and coordination issues. b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. c. d. a strategic alliance. d) carry prepayment penalties, while government-backed loans do not. E) segment "acid-test", Answer: D c) is not a binding contract upon agreement. d) The tenant leases the ground from the landlord and owns the improvements. a) Preservation and Maintenance of Property b) Property Inspection Report c) Property Order d) Borrower's Duties. LO: 6.1: In what ways can a company divide a consumer or business market into segments? b) They are always a debit to the seller and a credit to the buyer. a. c) The broker finds out from the lender and tells the buyer how much to bring. Unit quiz 10 Flashcards by Ron Jeremy | Brainscape When organizational buyers consider changes from one selling firm to another, what are the two main categories of switching costs they consider? Discuss the accuracy of this statement. a. close a. the cost of new customers is often far less than long-standing customers. Diff: 1 A. a) It represents a "meeting of the minds.". #13. e. none of the above. Rewrite whole paragraphs to ensure clarity. a) an index. b) a 3 percent down payment. b) It requires certain conveyance-related contracts to be in writing. Which of the following is true regarding the Residential Property and Owner's Association Disclosure Statement? D) concentrated A) measurable a) A certificate issued by a local building department that indicates that the building is in proper condition to be occupied. B) selective specialization a. A) hard-core loyals d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. a) both an instrument of conveyance and a contract. If the buyer rejects the first counteroffer, the seller can accept the first offer. a) increase the interest rate as the principal declines. 1) Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. 2) According to contract law, every valid contract is also what? Last year his rent went up 4% based on a 4% increase in the wholesale price index. A) It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. d. the cost of serving established customers usually increases. 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) estates at will. The expiration of the individual agent's license does not terminate the listing because the licensee is not a party to the agreement. 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} 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. #2. c. liquidated damages. a. 12) A subdivision developer most likely would apply for what type of loan? E) virtual solution. Relationship marketing LO: 6.2: How should a company choose the most attractive target markets? a. the range of relationship strategies (from transactional to collaborative) that are pursued by competing firms. c) valid but unenforceable contract. Net listings are legal, but they are discouraged by the real estate commission due to their potential for taking advantage of a client. 14) Which of the following is NOT an FHA loan requirement? 9) What do we call the right of a person to have the first opportunity to purchase or lease a property? 4) What is the customary down payment amount on residential property in New York? b) periodic estates. 12) Paul will get the second quarter water bill at the end of June. Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. The contract was not approved by the local Real Estate Board nor the Bar Association. Diff: 2 A counteroffer can give the buyers an out if they want one. #9. a) every four years. 8) Which of the following summarizes the general terms of a ground lease? b. the number of competitors in the particular industry. a. economic A) differentiated market 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. 2) If a real estate agent prepares a sales contract and an attorney makes modifications to it, which statement is TRUE? c) It nullifies oral leases and listing agreements. D) niche 5. B) differentiated Click here to study/print these flashcards, Additional Real Estate & Planning Flashcards. c) The maximum purchase price of the property cannot exceed $250,000. The seller disagrees, crosses out the points clause, then signs and returns the document to the buyer. AACSB: Analytical thinking, 51) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. a) Use of the Premises b) Property Order c) Location Use d) Property Regulations, 6) In New York City, the maximum base rent (MBR) system allows for rent to be adjusted. b. solidarity. 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. Which statement is TRUE in a market with a price ceiling? a) To receive payment for the property b) To support the closing agent c) To deliver the title d) To pay the broker's commission, 2) The most important document at closing is the. E) actionable, Answer: D b) voidable and illegal contract. c) allows for contract approval by a third party lawyer hired by the broker. 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. Buyer purchases the house and later learns that he cannot erect a fence. d) 10 percent of the loan amount. D) market specialization LO: 6.1: In what ways can a company divide a consumer or business market into segments? C) segment attractiveness a) Credit report b) Homeowner's insurance premium c) Earnest money deposit d) Home inspection. d) pay the purchase price for the property. a) Void b) Enforceable c) Enforceable or unenforceable d) Voidable, 3) A contact agreement to sell alcohol to minor would be considered. b) credits to the seller. c. Investments and risk of exposure b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. #5. a) It is common business practice. c) when the loan-to-value ratio reaches 78 percent. \text { Name } & \text { Number of Shares } & \text { Total Cost } & \text { Total Fair Value } \\ C) allowing consumers to gravitate toward product brands
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