C2U1 Getting Started in Real Estate

Question 1

The real estate marketplace could BEST be described as being:

a. homogenous
b. stratified
c. perfect
d. uninfluenced by emotion

Answer 1

b. stratified

Question 2

MOST real estate agents are primarily engaged in which area of activity?

a. Residential property
b. Raw land and lots
c. Commercial property
d. Development

Answer 2

a. Residential property

Question 3

The IRS will treat real estate salespeople as independent contractors if three criteria are met. Which is NOT one of the criteria?

a. The salesperson’s reimbursement is solely based on sales, not hours worked.
b. The salesperson represents himself as an independent contractor when dealing with third parties.
c. There is a written contract stating that the salesperson will be treated as an independent contractor for tax purposes.
d. The salesperson is licensed as a real estate agent.

Answer 3

b. The salesperson represents himself as an independent contractor when dealing with third parties.

Question 4

A broker ordinarily would be liable to salespeople for:

a. unemployment compensation
b. workers’ compensation
c. Social Security contributions
d. none of these

Answer 4

b. workers’ compensation

Question 5

In choosing a broker, a new licensee should be LEAST interested in an office that:

a. has a high percentage of successful salespeople.
b. has a good library of books, tapes, and video for training.
c. offers 100% commission.
d. is a member of a local multiple listing service.

Answer 5

c. offers 100% commission.

Question 6

The BEST way to learn is to:

a. listen to what other say.
b. read instructional material.
c. watch what others are doing.
d. use the ideas you observe or read about.

Answer 6

d. use the ideas you use or read about.

Question 7

Which of the following statements regarding role-playing is TRUE?

a. Role-playing situations are limited only by our imagination.
b. Role-playing can be verbalized or non verbalized.
c. Role-playing exercises can involve more than one person.
d. All of these.

Answer 7

d. All of these.

Question 8

Which statement is an example of a specific goal?

a. I will work harder next week.
b. I will improve my listing presentation.
c. I will make 10 calls tomorrow on for-sale-by-owner ads and schedule three property showings by Sunday.
d. I will learn by observing successful agents.

Answer 8

c. I will make 10 calls tomorrow on for-sale-by-owner ads and schedule three property showings by Sunday.

Question 9

All of the following will aid you in goal achievement EXCEPT:

a. that goals should be attainable.
b. that goals should be based on what you really want.
c. that goals should be kept to yourself because they are personal.
d. that goals should be exact so that you can measure their attainment.

Answer 9

c. that goals should be kept to yourself because they are personal.

Question 10

Proper daily planning means that you should endeavor to:

a. reduce “D” Time activities
b. increase “A” Time activities
c. place more emphasis on probabilities than on possibilities.
d. accomplish all of these.

Answer 10

d. accomplish all of these.