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55)  The Real Estate Commissioner requires that all agreements prepared by salespeople: a. be approved by the IRS. b. be approved by their designated broker or sales manager. c. be approved within a reasonable time. d. both b and c are correct.  

87) The list of potential clients that an agent contacts on a regular basis: a. always belongs to his or her broker. b. is a waste of time. c. is technically considered harassment. d. is considered his or her “sphere of influence.”

53)  Lenders refer to a borrower with a low FICO score and a limited ability to cover family living expenses as a: a. lost cause borrower. b. prime borrower. c. subprime borrower. d. commercial borrower.

86)  The time assigned to individual agents to answer the company telephone is called: a. downtime. b. floortime. c. private time. d. golden time.  

94) If the Internal Revenue Service is using a minimum of 39 years for straight-line depreciation on commercial properties, what would be the annual depreciation on a newly constructed apartment that cost $1,950,000 and had an original land cost of $585,000? $35,000                       $15,000     $3,500 $50,000

49)  Seller’s disclosures must be approved as soon as possible: a. by buyers. b. to insure a binding contract. c. both a and b are correct. d. none of the above.

83) A legal “artificial being” conducting business under a chartered name is a: sole proprietorship. partnership. corporation. none of the above.  

88)  Soliciting potential clients by telephoning people you don’t know is called: a. cold calling. b. warm calling. c. previewing. d. blind advertising.  

34)  Escrow can be terminated by all of the following, EXCEPT: a. seller’s rescission without buyer’s consent. b. completion of escrow. c. mutual agreement. d. court (interpleader) action.

61)  The type of listing in which the owners would be obligated to pay a commission to the broker even if the owners sell the property themselves during the listed period is: a. illegal in California. b. a multiple listing. c. an exclusive right to sell listing. d. an exclusive right to buy.