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41. A counter offer: a.  terminates the prior offer.     b.  is a new offer. c.  changes the terms of the prior offer. d.  all answers are correct.

91. A contract is best defined as: a.  an agreement to do or not to do a certain act or service.                       b.  an offer by one party.            c.  a willingness to enter into an agreement. d.  something of value given by one party.

24. If a person dies without a will, the procedure for transferring the deceased’s property to his or her heirs is called: a.  accession.       b.  intestate succession.            c.  escheat by the federal government.        d.  none of the answers are correct.

58. Which of the following is NOT a duty of the broker/agent towards his or her principal? a.  Availability      b.  Loyalty c.  Honesty d.  Integrity

Implementation project leaders must understand all of these except:

7. An “estate for years” is an example of a: a.  life estate.        b.  fee estate.       c.  freehold estate. d.  less-than-freehold estate for a fixed period of time.

51. The Federal Reserve’s monetary policies influence the supply of money by: a.  buying and selling government T-bonds and T-securities. b.  raising and lowering the reserve requirement. c.  raising and lowering the discount rate to member banks. d.  all answers are correct.

62. Impound reserves can be used to pay: a.  employees’ salaries. b.  maintenance expenses .      c.  fire insurance and property taxes. d.  none of the answers are correct.

The definition in the textbook of process of delivering technology, data sets and processes to a business function is:

65. Tenant A has a month-to-month tenancy with landlord B. What is the minimum number of days’ notice that A must give if she wishes to vacate? a.  14                                              b.  15                                     c.  30 d.  20