Reference no: EM132204972

1. A brokerage firm's commission split to sales associates is in the bottom 25% in the market. A characteristic of this philosophy is that

A) it will have neither a strong competitive advantage nor a disadvantage, but keeps the company in the running and shows higher profits.

B) it is very attractive for recruiting and attracting personnel, but the company must monitor its personnel to get the maximum financial benefit.

C) it is the most popular of all the methods of commission splits because of the high profits to the broker on each sale.

D) companies that choose this strategy will likely experience greater turnover of personnel.

2. Which is NOT correct about a broker's advertising?

A) The brokerage firm's name must be in all of the broker's advertising.

B) A licensee's business card may not include any false or fraudulent information.

C) The brokerage firm's name need not be included if the sales associate's last name is in the advertisement.

D) If a licensee uses a personal name in the ad, the licensee's last name as registered with the DBPR must be used at least once in the ad.

3. A sales associate says to the broker, "Please read this ad in the homes guide. I've been running this ad for several weeks without a single response: 'Beautiful 3-bedroom home with updated kitchen in Astoria Park. Large master suite, pool, immaculate throughout. Priced to Sell!'" After reading the ad, the broker will likely say,

A) "You should show the price of the home in the ad to get more responses."

B) "Don't put 'immaculate' in an ad because it will raise buyers' expectations."

C) "It's illegal to put 'priced to sell' in your ad because it compromises the seller's negotiation position."

D) "It's not advisable to advertise that schools are close."

4. If asked about an open house, a sales associate would MOST likely say,

A) ''Open houses are the key to my success.''

B) ''I don't think open houses help locate buyers for the property.''

C) ''I usually get one or two prospective buyers for the property.''

D) ''I believe buyers who come to open houses are more loyal.''

5. Which statement in a brokerage firm's policy manual would apply to independent contractors?

A) "One 15-minute break is available in the morning, and one in the afternoon, but no more than one person may be on a break at any given time."

B) "Telephone solicitation must conform to the requirements of the federal do-not-call rules."

C) "Normal bereavement leave will be a maximum of three days."

D) "Overtime must be approved in advance by management."