TEXAS REAL ESTATE BROKERAGE SAE EXAM NEWEST 2024 WITH ACTUAL QUESTIONS AND CORRECT ANSWERS, Exams of Nursing

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TEXAS REAL ESTATE BROKERAGE SAE EXAM

NEWEST 2024 WITH ACTUAL QUESTIONS

AND CORRECT ANSWERS|ALREADY GRADED

A+

The strengths, weaknesses, opportunities, and threats facing a business - ANSWER-What is a SWOT analysis useful for determining? You and your staff - ANSWER-Who has the best information about your firm's operations to assist in writing your disaster recovery plan? The number of licensees to use - ANSWER-Which of the following is one of the key decisions a brokerage makes when deciding how to staff the sales force? This is a valid reason to terminate the licensee's affiliation with the broker. - ANSWER-Broker Craig fires salesperson

Enrique for violating a provision of the license law. Which of the following is true of this situation? Due to circumstances beyond their control, the parties can't legally or practically do what they've agreed to do. - ANSWER- In which of the following scenarios is impossibility of contract performance occurring? Employment Level - ANSWER-Which of the following demographic data points would a brokerage be most interested in when evaluating a market? Management Style - ANSWER-When discussing a merger, what would corporate cultural fit relate to? Line (Judy has line authority because she's directly responsible for achieving the company's financial goals.) - ANSWER-As manager of the sales team, Judy has direct responsibility for reaching the company's financial goals. What type of authority does Judy have? Is she interested in promotion? Before spending time to evaluate Harriet's skills related to promotion, managers should find out if Harriet is even interested in being promoted. - ANSWER-Harriet is a hard

Tactical planning is the most granular level of planning. Once the long-range plan has been broken down into smaller tasks, the management and staff are responsible for carrying out the tactics. - ANSWER-Which of the following business planning activities breaks the long-range plan down into smaller tasks and identifies which segment(s) of the company are responsible for doing what? As more staff is hired, she will spend more time managing sales staff. - ANSWER-Broker Donna plans to hire three licensees to begin growing her business from a one-agent to a four-agent firm. What tip would you offer Donna regarding the impact of growth on her as the broker-owner? Values - ANSWER-Leaders communicate and live by their ______. The licensees don't do any active selling. The licensees at an LFRO gather referrals and feed them to a full-service brokerage but don't do any active selling. - ANSWER-Which of the following statements is true regarding licensees who work at a limited function referral organization?

Performance - ANSWER-Rust Brokerage is run as a lean machine and requires its employees to be both productive and cost-efficient. It pays employees on a scale that relates their worth to how much their work has contributed to overall revenue. This reflects a(n) ______ compensation philosophy. Files can be used for operations analysis. Retention of transaction files is important for two reasons: to meet state regulatory requirements and to analyze business operations. - ANSWER-Which of the following represents a reason for maintaining complete transaction files? Suggest that her client contact a roofing expert to make a determination. - ANSWER-Samantha is a real estate licensee. She's showing her client a property. The client asks about some spots on the ceiling and wonders if they're an indication of a roof leak. What should Samantha do? Quack-a-Doodle-Doo Realty - ANSWER-Which of the following business names would be the most likely outcome of a merger between Duck Realty and Rooster Realty

individuals from committing antitrust violations. - ANSWER- Which act created an agency to investigate antitrust practices? He wants control over branding. Sole proprietorships offer complete control but no personal protection. - ANSWER-Arnold plans to open a brokerage. What might make him select a sole proprietorship legal structure? Making a plan and implementing it is essential to the future success of an organization. - ANSWER-Broker Millie wants to start her own brokerage. The market is hot right now, and she wants to get her brokerage up and running ASAP. Once things slow down a little, she'll figure out a business plan and other details. Which of the following is true of this situation? Fraudulent misrepresentation Mortgage fraud is a form of fraudulent misrepresentation that, because it's become so prevalent, has been named as its own category of fraud. - ANSWER-Mortgage Fraud is considered __

It helps to ensure that well-trained talent is available in the event that a critical position becomes vacant. Succession planning not only ensures that a solid pipeline of qualified individuals is ready to move into critical positions, but it also motivates staff to perform at a high level in order to e considered for promotion. - ANSWER-Loronda is working on her business plan in preparation for opening her own brokerage. Why should she consider including succession planning in her plan? No. However, in some situations, Tanner's attempts at training and enforcement may help lessen sanctions against him. Though technically Tanner is responsible, if he can prove that the firm has policies and procedures in place and that he provides training and coaching to licensees, he may receive less blame than he might otherwise. - ANSWER-As the supervising broker, tanner makes sure that the firm's policies and procedures manual is updated regularly and is enforced. He provides formal and informal training on the manual's contents. Does this relieve Tanner of vicarious liability if a licensee performs an unethical act? Job Description

fairly in relation to the work they do, and when compared to others who work there. - ANSWER-The compensation plan at Giny's brokerage makes pay levels consistent with their level of responsibility, so that people are paid fairly when compared to what others at her brokerage do. What is this called? Results A broker/independent contractor relationship is one in which the broker is primarily concerned with the end result of listing and selling property, and leaves the day-to-day decisions on how things are done to the salesperson. - ANSWER-In a broker/independent contractor relationship, the broker is primarily concerned with what? Risk is and inherent part of real estate activities. E&O insurance is necessary for all licensees because risk is an inherent part of real estate activities. - ANSWER-Why is error and omissions insurance recommended for all licensees? Triple Net lease

With a gross lease, the landlord typically pays these expenses. With a triple net lease, the tenant pays all three. To help you remember this, the first letter in the three expenses (taxes, insurance, and maintenance) spell out TIM. - ANSWER- With this type of commercial lease, the tenant typically pays the taxes, insurance, and maintenance expenses. He'll have less time to grow the business. As a business grows and more staff is hired, the broker-owner must spend more time managing sales staff and less time on activities to grow the business. With more sales staff, revenue responsibility is shared. - ANSWER-Georgio, a managing broker, has just increased the size of his firm from 2 to 13 licensees. What can he expect? Acceptance - ANSWER-Rogelio and Carla's firm identified three risk sources as high level (6 and 9 on their ranking scale). They've set themselves up for disaster by using ___ as their risk management strategy. FHA approval for subdivisions that plan to allow FHA financing FHA approval for subdivisions that plan to allow FHA financing is one of the four federal government controls that

Independent contractors are to be supervised, not managed or directed. - ANSWER-A broker must ______ independent contractors. The cash flow statement The cash flow statement helps match income to expenses for any given month, indicating whether additional cash will be needed. - ANSWER-Which of the following itemizes income to expenses for given month? Historical To gain a true view of firm's financial position, evaluate the current and previous - ANSWER-A ______ analyses of the balance sheet and its related ratios provides the clearest picture of a firm's financial health. Long-range plan The terms "blueprint" and "long-range plan" are used interchangeably in business. - ANSWER-Marc is working on the "blueprint" for his brokerage, which is another term for the brokerage's ______.

Dictatorial They're effective in crises and when an employee or a group needs brought into line. - ANSWER-Coercive and ____ management styles are similar in their demand for action. They require you to pay franchise fees. - ANSWER-One drawback to franchises is ___ general operating budget - ANSWER-A variable expense budget, monthly operating budget, or profit center budget is prepared using the ___ as a basis. Purpose of business - ANSWER-What's the most important determining factor for the type of office the brokerage needs and the systems required? Liability for someone else's acts or omissions - ANSWER- Vicarious Liability Review, plan, and forecast proactively - ANSWER-How may a broker effectively manage the firm's cash flow and expenses?

Active - ANSWER-Deidre owns her own brokerage firm. In addition to running the business, she continues to assist clients and manage transactions. What type of broker-owner is she? It covers licensees sued by consumers for inadvertent mistakes. - ANSWER-Which of the following is true about errors and omissions insurance The policies and procedures manual - ANSWER-Which of the following is one of a firm's best defenses against damage to its image Delegator - ANSWER-Soriyah has most of the qualities needed to be a an effective leader, but she won't let other licensees lead sales meetings. What quality of an effective leader is she lacking? Different language - ANSWER-What's an obstacle to working with culturally diverse populations? Value Katrina and Greg are comparing the overall value of the services they will use to sell their home. - ANSWER-Katrina

and Greg are selecting a firm and a licensee to help them sell their home. They're comparing commission-based and flat- fee listing services. The commission-based service will cost more, but they'll have a licensee who performs most of the work. The flat-fee listing service costs much less, but they'll have to do more of the work. What marketing model concept will their decision represent? Using a system to reduce the risk's likelihood or severity - ANSWER-Risk mitigation means ______ The Occupational Safety and Health Act The Occupational Safety and Health Act primarily addresses the rights of employees, not independent contractors. The self-employed aren't covered under OSHA. - ANSWER-Which of the following establishes requirements for employers to provide a safe and healthy workplace for their employees? Talk to them each individually to clarify the situation. - ANSWER-You're a broker, and lately you've noticed that three of your licensees seem to be constantly sniping at each other. It's affecting everyone at the brokerage. What should you do? Add a standard addendum using standard language. - ANSWER-When a sales contract doesn't cover the terms

licensed broker, Shonda, is directly responsible for the real estate transactions. The officers and Shonda are responsible to a large number of stockholders. What type of legal structure is this? No, because it's not time-based. - ANSWER-Olivia, the owner of Your Home Brokerage, develops a goal for all of her licensees: Increase sales by 15%. Is this a SMART goal?

• ANSWER-S.M.A.R.T Automatic renewal This situation is an example of an automatic renewal clause. - ANSWER-Carmen's original one-year commercial lease has ended, and now, with her landlord's permission, she has gone into a month-to-month lease situation. What type of clause was in the original lease agreement that enabled this situation to occur? The technology tools and physical environment that the job requires - ANSWER-A broker wants to make sure that her sales associates can perform as effectively as possible. She uses a solid business model and a clear business mission; she communicates expectations to her licensees; she recognizes their efforts and compensates them fairly; and she provides

the training they need. What else should she make sure her licensees have to allow them to perform at their best? Brainstorm a solution. The third step in this process is to brainstorm the solution. Some problems will have a fairly straightforward solution, while others will be more complex. - ANSWER-You're a broker who sees a potential issue with your licensee, Joss. You've identified the problem behavior and analyzed the problem. What is the next step in the problem-solving process for personnel issues? To detail all costs Jennings will owe at closing - ANSWER- Jennings has received a Closing Disclosure from his lender. What's the purpose of this form? Birth - ANSWER-A business that's establishing a customer base and market presence is most likely in what stage of the business life cycle? Keep keys locked in a secure location. - ANSWER-Which of the following is a good way to ensure safety and security of properties listed by your brokerage?