A) demographic variables Which of the following statements are true? Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve: Close buyer-seller relationships have many advantages for a firm, but one key disadvantage is: B) long-term commitments to another organization reduce flexibility for a firm. E) The most attractive segment is one in which entry barriers are low and exit barriers are high. 5) Which contract provision allows for the transfer of the contract to another person? Once Ricardo knew the fence was a material issue to the buyer he was bound to take some action. c) include all outstanding liens against the property. d) it may also restrict some uses. 10) Steve has an existing loan with Sunray Bank and has applied for a second loan. d) The broker finds out from the lender and tells the sellers. Which of the following are goals of customer relationship management (CRM)? a) covers more than one piece of property. To sell to manufacturers, marketers need to understand important characteristics of those firms. LO: 6.1: In what ways can a company divide a consumer or business market into segments? #2. a. Transactional exchanges B. Unit quiz 11 Flashcards by Ron Jeremy | Brainscape 12) Where on the Uniform Settlement Statement will you find the information that deals with the buyer's side of the transaction? The seller disagrees, crosses out the points clause, then signs and returns the document to the buyer. B) The basic aspects of business customer buying behavior tend to be quite similar in the U.S. and in international markets. b. directly assist customers with planning and strategy development. a. LO: 6.3: What are the different levels of market segmentation? 10) Which loan covers the period of time between the end of one mortgage and the beginning of another? A home where a homicide, suicide, or haunting occurred 6. D) need-based segmentation 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? 2) Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________. 7) Money that the buyer or seller receives at closing is called what? A) differentiated market The home is listed at $210,000. b. Transactional exchange c. the firm can identify opportunities for expanding the relationship. 10) Buyer Rich has asked Seller Sally to hold $15,000 as a second mortgage. b) He has given notice. Using the continuum of working relationships, the industry bandwidth refers to: Relationship marketing #11. Which statement is true? A home for sale awaits prospective buyers on October 27, 2022, in Hollywood, Florida. d. all of the above a) Open b) Balloon c) Fully Amortized d) Retraced. b. #11. e. Only (a) and (b). d) He has given notice of vacating. a. c. The supply of goods is sold by the sellers with the lowest costs. Which part contains the product and service elements that all segment members value? What type of loan does Jim hold? a. economic \end{array} 13) Al is seeking an FHA loan. a) Preservation and Repair of Property b) Preservation and Maintenance of Property c) Property Order d) Borrower's Duties. d. the lost-for-good customer. B) demographic D) segment profitability 1) Broker Norm prints and completes lease agreements to which he is not a party. Diff: 3 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: Make no recommendations and let the sellers decide on their own. 3) Recording the deed is done through which of these? 3) Which mortgage clause requires a borrower to maintain the physical condition of the mortgaged property? B) substantial a) Void b) Enforceable c) Enforceable or unenforceable d) Voidable, 3) A contact agreement to sell alcohol to minor would be considered. d) contain a legal description of the property. A counteroffer represents a rejection of an offer. A) measurable B) purchasing approaches b) All parties to the contact must initial the changes. AACSB: Analytical thinking, 18) A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve. Recommend a counteroffer back to list price. e. (a) and (c) only, Business marketing relationships vary in terms of their closeness or degree of collaboration. D) niche c) The maximum purchase price of the property cannot exceed $250,000. b) Preservation and Maintenance of Property. What actions can the sellers take regarding the purchase offer? a) Hold Over Mortgage b) Advanced Mortgage c) Principal Mortgage d) Purchase Money Mortgage. Resources are allocated to their most efficient uses. b) This mortgage type is popular among the elderly. Business marketers track customer loyalty and retention because: e. Only (a) and (b). #1. B) purchasing approaches c) The apartment can be decontrolled. a) the lender must have a reserve balance on hand to cover the loan amount. C. If buyers can easily switch firms, then buyers have increased power. d) The landlord cancels the lease. b) the mortgage must be held by the originator until all terms have been meet. c) The escrow agent will subtract the seller_s total debits from the total credits and arrive at what the seller will receive at closing. d. is not required if the firms are in an arms-length relationship a) Pest inspection b) Insurance premium paid in advance c) Soil test d) Survey. Net listings are legal, but they are discouraged by the real estate commission due to their potential for taking advantage of a client. They have the right to review the completed settlement statement how long before closing? d) A sublease conveys the entire leasehold interest. C) accessible The listing agent does not inform the selling agent of the defect and since the defect, is hidden, the selling agent does not discover or disclose the problem to the buyer. _____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it. C) concentrated D) market specialization The listing agreement is between the client and the firm. #7. b. directly assist the customer with planning and strategy issues. e. (a) and (c) only. The agent should point out that price is only one aspect of the offer and then go on to discuss the other terms of the agreement that may appeal to the sellers. d) accrued expenses. e. none of the above, For collaborative customers, the business marketer should: 2) Which kind of lease has no time limit? AACSB: Reflective thinking, 45) If an organization's marketing department wants to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, it would most likely occur in the ________ step of the segmentation process. Diff: 2 #1. d. A strategic alliance By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. A crosstabulation of type of customer (regular or promotional) versus net sales. How would Grant_s lease at this time be classified? 9. This is called by what name? An offer or counteroffer can be withdrawn at any time before it has been accepted. c) the mortgage itself provides the only security for the loan. a) Draw Loan b) Banked Loan c) Bridge Loan d) Straight Loan. B) A segment is unattractive if buyers possess strong or growing bargaining power. A) demographic variables a) To make a down payment on a motor home b) To refinance an existing home loan c) To buy a manufactured home d) To refinance a manufactured home loan in order to acquire a lot. d) A lender can continue to collect PMI payments until the homeowner's equity reaches 25%. Projected profit margins. d) reduces the monthly payment for a borrower during the initial years. a. Hurricane Inc. purchased a portfolio of available-for-sale securities in 2014, its first year of Diff: 2 How will they know how much money they will receive from the sale? A) attitude b) intended contract. b. the number of competitors in the particular industry. C) product specialization b) credits to the seller. a) Amanda has illegally commingled the earnest money with her own money. b) The bundle of rights linked to the recorded title to a parcel. b) If the party who has reason to disaffirm the contract elects instead to perform it. a) requires recording of a leasehold conveyance. a. Transactional exchange 9) Most conventional loans follow the underwriting standards outlined by. a) 10 percent b) 15 percent c) 20 percent d) 25 percent. b) 5 percent of the loan amount. A) naked solution Customers emphasize a collaborative orientation when the purchase decision is not complex. a) The tenant fails to pay rent. d) The Torrens registry retains the original registration documents and provides copies to the recorder or other appropriate office. c) A sublease does not convey any of the leasehold interest. C) accessible 2) Which mortgage clause requires the borrower to maintain the physical condition of the property? a) Sara cannot legally fill out this contract. c) 1 percent of the loan amount. Last year his rent went up 4% based on a 4% increase in the wholesale price index. d) Tim and Laura have not acted in good faith; so they cannot get their earnest money back. c) It is not voidable. 6) Broker Sara completes a preprinted sales contract. 1) Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. 9) Which of the following statements about Gen Xers is TRUE? c. always-a-share customers. #15. Regardless of how the seller completes the form, the licensee has a duty to disclose all material facts so the liability rests with the listing agent. Which of the following statements about selling a home as-is in North Carolina is true? 6) In which contract section might you the property address? A counteroffer can give the buyers an out if they want one. c) is subordinate to a first mortgage. a) It represents a "meeting of the minds.". e. none of the above, Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular relationship. Which is true of a valid listing agreement in NC? Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. d) It is a bilateral agreement. LO: 6.3: What are the different levels of market segmentation? c) settlement statement. a) Mark can insist that the landlord lower the rent. d) every two years. The seller and the buyer must be informed of the situation and agree in writing to the broker's representing both of them. 4) The Statute of Limitations requires that parties to a contract who have been damaged or who question the contract's provisions do what? d) The escrow agent will subtract the total of the buyer_s credits from the total debits and the result is what the buyer needs to bring. B) undifferentiated Customers prefer a collaborative relationship when there is a competitive supply environment featuring many alternatives. This is known as what type of account? These criteria illustrate which of the following major segmentation variables? c) valid but unenforceable contract. a) The lender calculates what's owed and tells the buyer what to bring. The Residential Property Disclosure Report should be provided to buyers in a timely fashion. a) Title company b) Attorney's office c) Lender's site d) Broker's office, a) Second mortgage on a condominium b) Seller-financed loan c) Hotel mortgage d) Loan assumption, 5) Most lenders require buyers to purchase. C) It obligates the broker to work diligently for both the seller and the buyer. LO: 6.1: In what ways can a company divide a consumer or business market into segments? a) Freddie Mac and Fannie Mae. Death of the party to an agreement ends an employment contract such as a listing or buyer broker agreement. What type of loan might help Fred? a) Receipt b) Contract for sale c) Agreement d) Purchase offer. neg/selling ch 11 Flashcards | Quizlet a) tells all parties that the preprinted forms have been approved by an attorney. 1 Which of the following statements about marketing is true? D) differentiable 3) How might a voidable contract become valid? Diff: 2 AACSB: Analytical thinking, 12) Dennis requests his father to buy him a PlayStation for his birthday. E) actionable, Answer: D D) switchers D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. a) Estate for years b) Estate from period to period c) Estate at will d) Estate at sufferance. B) demographic variables _____ centers on all activities directed toward establishing, developing, and maintaining successful exchanges with customers and other constituents. d) The broker must complete a rider. b. personal property. D) segment positioning a) It represents a "meeting of the minds." Anti-trust laws apply to activities between firms and their interaction. d. All of the above. d) carry prepayment penalties, while government-backed loans do not. Present the $200,000 first and recommend rejection. each) ________1. 14) Ruth must deposit $1,113.45 in to a FHA-backed escrow account. A) need-based segmentation a) Map coordinates b) Deed map c) Street address d) Survey map. e. (a) and (b) only, For transactional customers, the business marketer should: 3) Which of the following locations is the least likely place to hold a closing? A. it must contain a nondiscriminatory clause, B. it may be oral up to presentation of the first offer, C. it requires the seller to sell if a full price offer is made by a buyer, D. it can contain an automatic renewal clause if both parties agree to it in writing, it must contain a nondiscriminatory clause. LO: 6.2: How should a company choose the most attractive target markets? a) deliver the title. The incidence of a tax is determined by which group (buyers or sellers) must write the check to the government. 6) A homeowner's insurance policy typically covers all but which of these? Chapter 7 Online & Book Quiz Flashcards | Chegg.com d. intend to move each partner toward the attainment of some long-term strategic goal. c) the Mortgage Loan Trust Bank. A. listing agent = duty to disclose listing 411 sheet that fences were not permitted. b) It requires certain conveyance-related contracts to be in writing. 43) Which of the following statements is TRUE about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment? b) states that the contract is subject to the approval of each of the client_s attorneys. E) full market coverage, Answer: A E) Step 7-marketing-mix strategy, Answer: D Two hours later, the buyer finds a better house, calls the first seller, and withdraws the offer. d. Collaborative exchanges. C) geographic segmentation Diff: 2 Here's why: We already know that all sellers have a duty to disclose any "material defects." And while buyers and sellers may disagree on what a material defect is, one of the best ways to . 4) What form does RESPA require to be used for itemizing closing costs? d) after 7 years of loan payments. b) Private mortgage insurance is available for FHA loans. d. commission. AACSB: Analytical thinking; Application of knowledge, 14) A company can learn a great deal by analyzing the degrees of brand loyalty. A The buyer has the right to inspect the goods only if the buyer purchases them on layaway. a) Assignment of a Contract_ b) Operation of Law c) Transfer Clause d) Execute Clause. C) Step 6-segment "acid test" Set up a face-to-face meeting with the sellers as soon as possible. Part i true or false item write true if the statement - Course Hero B) selective specialization D) operating variables Diff: 2 a) The buyer may not revoke the offer in such a short period of time. \hline \text { Tornado Inc. } & 800 & \$ 14,000 & \$ 15,600 \\ a) include a title closing entity. b. Value-added exchanges 3) Prospecting for buyers has a much lower return on output than prospecting for sellers. 2) According to contract law, every valid contract is also what? AACSB: Analytical thinking; Application of knowledge, 13) Mothers-to-be are potential users who will turn into heavy users of infant products and services. #8. Price discrimination is indistinguishable from dumping. AACSB: Analytical thinking; Application of knowledge, 69) All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion. a) through verbal agreements. 6) Which legal remedy resets parties to pre-contract status? 7) How does the buyer know how much money to bring to closing? Which statement is TRUE? d. all of the above c) a payment cap. d) require higher down payments than government-backed loans require. E) global nature of the product, Answer: A Meet with the buyers lender to ensure theyre getting a good deal. b) Select a specific, limited course of action for recouping their losses. d) the federal discount interest rate. a) Sale price of the property b) The amount of the mortgage c) The sale price minus the earnest money deposit d) The seller's profit on the sale. The U.S. government would not publish NAICS data that gives: C) the total sales volume of the only textile equipment manufacturer in a state. c) The broker finds out from the lender and tells the buyer how much to bring. Make sure all required disclosures have been done. a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. B) segment identification a) Interest is based on a yearly prorated amount on the remaining principal. a. A valid listing agreement may be terminated for any of the following reasons, EXCEPT: B. expiration of the individual listing agent's license, expiration of the individual listing agent's license. b) Interest is determined by the debt-to-loan ratio. 1. b. an equal advantage. a) Estate For Years b) Estate At Will c) Estate At Sufferance d) Estate At Order. Customer profitability &&\underline{\underline{\$ 93,400}}&\underline{\underline{\$ 93,400}} d) The tenant leases the ground from the landlord and owns the improvements. d) The tenant leases the ground from the landlord and owns the improvements. 8) Which of the following summarizes the general terms of a ground lease? d. All of the above. c) The landlord leases the ground floor of the building to a commercial tenant. Discuss the accuracy of this statement. 4) A contract that conveys an interest in real estate must. Rewrite whole paragraphs to ensure clarity. AACSB: Analytical thinking, 22) When marketers present flexible market offerings to all members of a business segment, their offerings consist of two parts. 14) Which of the following is NOT an FHA loan requirement? (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the c) Brokers may not complete leases to which they are not a party. 8) PMI loans made after July 1999 require that the loan must be released. B) It automatically binds the owner, the broker, and the MLS to its agreed provisions. Diff: 1 a) To enter a property in the Torrens system, a court action must first clear title. d) enforceable contract. a) expressed contact. When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? D. Buyers must receive the completed disclosure report no later than the beginning of the due diligence period. d) were paid in advance. B) conducting VALS tests D) examining the demographics section of the handbook of marketing Which statement is TRUE of a listing agreement? a) both an instrument of conveyance and a contract. C) situational factors Fill out a separate, numbered counteroffer form. 5) When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. Once an offer has been accepted, the agent should do all of the following except which? The buyers have been pre-qualified by a lender. Trust and relationship commitment A. a boycott of a discount brokerage's listings, B. agreement with competitors to set commission rates, C. refusal to place advertisements in a local paper that accepts ads from for sale by owners, D. a firm's raising of it's own commission rates, A firm's raising of it's own commission rates. \text { Typhoon Corp. } & 2,140 & \underline{~~43,870} & \underline{~~42,800}\\ e. (b) and (c) only. Which of the following statements is TRUE? a) It invalidates certain oral contracts. c) Sara can use a binder but not a sales contract. LO: 6.2: How should a company choose the most attractive target markets? a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. Which of the following statements is true of obtaining commitment from a buyer? d) The original offer is legally terminated. This is an example of ________ marketing. E) differentiated, Answer: B Biden Raises Costs for Homebuyers With Good Credit to Help - Newsweek c) have more forms than government-backed loans. c) They are always a debit to one party and a credit to the other party for the same amount. b. Transactional and collaborative relationships 2) Mark gets a home loan and the lender will charge him 3 points at closing. d) the borrower must have a co-signer. AACSB: Analytical thinking, 46) In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access. b. Activity-based costing LO: 6.3: What are the different levels of market segmentation? b) after 5 years of loan payments. D. 10) ________ is the science of using psychology and demographics to better understand consumers. d. Margin analysis, Relationship efficacy d) Amanda has done nothing wrong. 6) Paul's loan payment is the same amount each month. d) carry prepayment penalties, while government-backed loans do not. The history of the listing activities, information about the buyers and then the offer itself. Which of the following would likely NOT constitute a violation of the Sherman Antitrust Act? Which statement is TRUE? LO: 6.1: In what ways can a company divide a consumer or business market into segments? A) Buyers for all kinds of organizations (governments, nonprofit groups, intermediaries) tend to buy in much the same way as do manufacturers. C. The process of obtaining commitment occurs only toward the end of any sales call. B) not required to disclose the information because the seller might reject the offer. Solved 33.Which of the following statements is true about - Chegg 11) What type of loan is often used when a seller will not accept a property sale contingency? 1) Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. b. technical 3) Mary has remained in her apartment two weeks past her move-out date, without any payment. 3) The process of selecting one or more market segments to enter is called market ________. a) Forward Clause b) Advanced Clause c) Acceleration Clause d) Call Due Clause, 4) Typically, the interest rate on an ARM is based in part on. a) Good Faith Estimate b) Truth-in-Lending Statement c) HUD-1 Form d) Mortgage Loan Disclosure Statement. d) It's an invalid offer. The cost-to-serve the customer. 9) Which of these would be a CREDIT to the seller at closing? d. A strategic alliance. b) for a buyer who plans to own the property for a long time.
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