Post License Course Barney Fletcher Latest

Post License Course (Barney Fletcher) Latest Update 2024 Version 353 Questions and Verified Correct Answers Guaranteed A+ _____ is the process of attempting to make money earned illegally appear to be legitimate.

Select one:

• Money laundering;
• Misrepresentation;
• Duress;

d. Flipping. - CORRECT ANSWER: a. Money laundering;

"The intentional use of deception to cause another person to suffer loss" is most

accurately the definition of the term:

Select one:

• Fraud;
• Misrepresentation;
• Negligence;

d. Incompetence. - CORRECT ANSWER: a. Fraud;

A ______ agent has more control than a _____ agent - CORRECT ANSWER:

Listing/selling

A ______ analysis can be helpful in analyzing your strengths and weaknesses, which can sometimes help you pick the target market that is best for you - CORRECT

ANSWER: SWOT

A bank owns a large number of REO properties. It maintains a practice that it will only give listings on these properties to real estate licensees who have referred borrowers to

that bank. This practice is:

Select one:

• Not a violation of RESPA.
• Not a violation of RESPA so long as the licensees use their best efforts to sell the

properties.

• A violation of RESPA.
• Not a violation so long as the referral comes after the licensee has sold the property.

- CORRECT ANSWER: c. A violation of RESPA.

A broker could return the buyer's deposit from the escrow account back to the buyer in which of the following cases?

Select one:

• The offer expired without any acceptance by the seller.
• The seller rejected the buyer's offer.
• The transaction was cancelled because of the buyer's inability to meet the financing

contingency and the seller consented to returning the deposit. 1 / 4

d. Each of the above. - CORRECT ANSWER: d. Each of the above.

A broker has the buyer's earnest money deposit deposited in an escrow account. The amount of the deposit exceeds the amount of the broker's commission for the sale. The

broker may remove his commission on this sale ONLY:

Select one:

• When the buyer moves into the property.
• When the seller moves out of the property.
• When the closing is completed.

d. Whenever the seller says it is ok to do so. - CORRECT ANSWER: c. When the

closing is completed.

A broker is being sued and as a protection the broker deposits a significant amount of

money in the broker's trust account. This is known as:

Select one:

• Commingling.
• Conversion.
• Disbursement.

d. None of the above. - CORRECT ANSWER: a. Commingling.

A broker must disclose the types of agency relationships offered and how compensation might be shared with other brokers.

Select one:

• prior to signing a contract for sale.
• prior to showing the property.
• prior to signing a listing agreement.

d. within a reasonable time. - CORRECT ANSWER: c. prior to signing a listing

agreement.

A buyer has made an offer on a seller's house. The offer gives the buyer 10 days to have a licensed home inspection of the property and to cancel the offer if the inspection reveals significant necessary repairs unknown to the buyer. This is an example of -

CORRECT ANSWER: Contingency clause

A buyer is having trouble coming up with a down payment. The buyer borrows $40,000 from a relative one year before buying a house and uses that money for the down payment. The relative agrees to do this without any written contract. This is an example

of a:

Select one:

• Throw-away second;
• Silent second;
• Distributed second;
• Mortgage flip.

Feedback - CORRECT ANSWER: b. Silent second;

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A call center which never gets in-person visits from consumers or customers would be most likely to rent space in which of the following types of office buildings?

Select one:

• Class A;
• Class B;
• Class C;
• Class D

Feedback Since there is no need to impress clients or customers at this location, it would be most likely to rent space in a Class C building, which is the lowest of the ratings. There is no Class D space.The correct answer is: Class C; - CORRECT ANSWER: Since there is no need to impress clients or customers at this location, it would be most likely to rent space in a Class C building, which is the lowest of the ratings. There is no Class D space.

The correct answer is: Class C;

A commercial mortgage loan has a prepayment penalty which starts at a higher level,

decreases each year for several years, then disappears. This is called a(n):

Select one:

• Interest guarantee.
• Lockout.
• Defeasance.

d. Step-down. - CORRECT ANSWER: d. Step-down.

A corporate investor who is considering the purchase of a commercial building would

use the Weighted Average Cost of Capital to determine the:

Select one:

• Capitalization rate.
• Discount rate.
• Remainder rate.
• Sample rate.

Feedback The Weighted Average Cost of Capital (WACC) is used to determine the discount rate in a discounted cash flow analysis.The correct answer is: Discount rate. - CORRECT ANSWER: The Weighted Average Cost of Capital (WACC) is used to determine the discount rate in a discounted cash flow analysis.

The correct answer is: Discount rate.

A couple has rented a one-bedroom apartment. After a new baby arrived, the landlord filed an eviction notice on the couple because the landlord's policy is that the occupancy limit is two people per bedroom. Which of the following statements is the most likely result of a fair housing lawsuit filed by the tenants?

Select one:

• The eviction would likely be upheld due to the HUD Keating Memo which suggests

occupancy limits of 2 persons per bedroom. 3 / 4

• The eviction would likely be overturned because of the age of the child.
• The eviction would likely be upheld if the occupancy limit was clearly disclosed in the

rental agreement or lease.

• The eviction would be overturned as it is unconstitutional. - CORRECT ANSWER: b.

The eviction would likely be overturned because of the age of the child.

A disabled tenant makes a request for a reasonable accommodation which the property owner believes to be unreasonable. What further obligation does the owner have to the tenant at that point?

Select one:

• To investigate the possibility of a different accommodation that would achieve the

same objective but create less burden for the property owner;

• To submit to mediation;
• To submit the request to a court for further consideration;
• None whatsoever.

Feedback - CORRECT ANSWER: a. To investigate the possibility of a different

accommodation that would achieve the same objective but create less burden for the property owner;

A disparate impact case has gone to trial. The plaintiffs have shown that a particular policy has had a disparate impact on a particular protected class. However, the defendant has shown that the policy serves a legitimate business necessity. What will be the next step?

Select one:

• The case will be dismissed.
• The plaintiff will have to show that the policy involved a discriminatory intent on the

part of the defendant;

• The plaintiff will have to show that other policies might have served the same

business necessity with less disparate impact on protected classes;

• The defendant will have to prove that there was no discriminatory intent when it set

the policy. - CORRECT ANSWER: The plaintiff will have to show that other policies might have served the same business necessity with less disparate impact on protected classes;

A disparate impact case has gone to trial. The plaintiffs have shown that a particular policy has had a disparate impact on a particular protected class. However, the defendant has shown that the policy serves a legitimate business necessity. What will be the next step? - CORRECT ANSWER: c. The plaintiff will have to show that other policies might have served the same business necessity with less disparate impact on protected classes;

A fair housing complaint on the basis of excluding those with a record of criminal

conviction may be based on allegations of:

Select one:

• Disparate impact;
• Disparate treatment;
• / 4