University of Asia and the Pacific
Theoretical probability is:
a) The total number of ways something can happen divided by the total number of possible outcomes.
b) the like hood of something happening based on reasonable estimates by a trained professional
c) The total number of successful trials of an experiment divided by the total number of trials of an experiment
d) the same as odds
Can a licensed real estate broker prepare an appraisal for a new loan on a property that the broker has listed for sale?
- yes, if the appraisal is identified as a comparative market analysis
- yes, if the appraisal is done before an offer to purchase is accepted by the seller
- yes, with proper disclosure to the lender about the broker's qualifications
D.no, real property appraisals are not within the scope of practice for a real estate broker
Analyze a job using Oldham and Hackman’s Model.
Search for a job description sample online. Reflect on it and analyze it using the model mentioned.
Tasks, Duties and Responsibilities
(Copy what is in the job description sample.)
Skill Variety (high, average, low): Explain.
Task Identity (high, average, low): Explain.
Task Significance (high, average, low): Explain.
Autonomy (high, average, low):
Feedback (high, average, low):
What MUST a licensee do before she can advertise, show, or offer a property?
- Prepare a preliminary appraisal of the property
- B. Obtain authorization from the owner of the property
- Provide a list of clients for whom she has successfully completed real estate transactions in the area
- Prepare a comparative market analysis for the property
Which of the following is a REQUIRED general duty of a licensee?
- conduct an independent inspection of the property
- independently verify the accuracy of any representation on a property condition disclosure statement
- accept liability and responsibility for acts of the consumer
- Provide assistance with document preparation
According to Pennsylvania code, which of the following is NOT a purpose of professional roll state continuing education
- to maintain an increased competency to engage in licensed real estate activities
- to follow federal guidelines regarding real estate licensees
- to keep licenses of breast of any changes in laws and regulations
- to protect the public from incompetent real estate practices
Which of the following is TRUE with respect to designated agency?
- The designation must occur at the time the parties enter into a written agreement
- regardless of who is the designated agent, all the agents in the company owe fiduciary duties to the client**
- once an agent is designated to act for a client, the broker is no longer responsible for protecting confidential information
- The employing broker is always a deal agent in an in-house transaction, and has the responsibility for maintaining confidentiality
The four main tools of monetary policy are
A. tax-rate changes, the discount rate, open-market operations, and the federal funds rate.
B. tax-rate changes, change in government expenditures, open-market operations, and interest on excess reserves.
C. the discount rate, the reserve ratio, interest on excess reserves, and open-market operations.
D. changes in government expenditures, the reserve ratio, the federal funds rate, and the discount rate.