REPL EXAM (2023/2024 Update) Questions and Verified Answers|100% Correct| Grade A

REPL EXAM (2023/2024 Update) Questions

and Verified Answers|100% Correct| Grade

A

Q: You are scheduled for "floor time" tomorrow. What is "floor time"?

Answer:

When an agent is in the office to receive phone calls from prospective clients

Q: A possible client walks into your office and says he wants to buy a house. He has not talked

to a mortgage agent yet, but he says he can pay 25% down and already knows how much of a

monthly payment he can afford. He wants to move in the next 90 days. What should your next

step be?

Answer:

Advise him to speak with a mortgage agent and get, at minimum, pre-qualified, but preferably

pre-approved for a loan.

Q: Which of the following is a benefit of developing a Business and Marketing Plan?

Answer:

It will help you set clear goals and stay focused.

Q: One of your least favorite things to do is write your monthly newsletter. But it has to be out

by the end of the week, and you have scheduled yourself time to work on it today. Where should

it be on your "to-do" list?

Answer:

First on the list so you can get it over with and move on to things you enjoy.

Q: According to the course, people should have

Answer:

Three months' salary in savings.

Q: You have been an agent for six months. You are reviewing your activities and their results.

You find that you are getting one listing appointment for every 20 expired listings you call. You

also find that you are getting one for every ten FSBOs you call. You should:

Answer:

Spend less time on Expireds and more on FSBOs, since that is where you are getting the best

results.

Q: You are creating a form to track your performance as a Real Estate agent. What activity

should not be included on the form?

Answer:

Floor time. Because it is scheduled by your office, and you can use the time for other things; it

does not need to be tracked.

Q: What type of legal notice would most likely provide leads?

Answer:

Foreclosures

Q: Which of the following is NOT an exception to the Do-Not-Call laws?

Answer:

You can call as long as you block your company name and number.

Q: Which of the following is most important to have on a licensee's personal website?

Answer:

The licensee's contact information

Q: Once you have sent your friends and family a letter of introduction regarding your real estate

practice:

Answer:

You should follow-up with a phone call in a day or two.

Q: When someone whose previous listing expired tells you mistakes the previous agent made:

Answer:

Comment on the action, not the agent, and explain how a different action might produce

different results next time.

Q: What should you give to potential customers when prospecting door-to-door?

Answer:

Your business card

Q: If you prefer meeting people face-to-face, select a neighborhood and go knocking on doors.

When you go, you should:

Answer:

Dress professionally

Q: You are trying to select a "farm" area and you have narrowed the choices down to four

areas, as follows. Among the alternatives, which would be the best choice?

Answer:

An area close to your own house, where the 125 homes are similar to yours and familiar to you.

Q: What is the primary advantage of selling your own home without an agent?

Answer:

That you do not have to pay $1000's in the form of a commission

Q: When prospecting FSBOs:

Answer:

Call and ask if you can view the house and ask if they are willing to work with you if you find a

buyer.

Q: A house was listed for $400,000 and it sold for 93% of its listing price. There was no

mortgage lien on the property. The brokers' commission was 7% of the sales price. Other closing

costs came to 1% of sales price. What was the seller's net?

Answer:

$342,240

Q: Which of the following questions will not help you determine a home's best list price?

Answer:

How much do you think your home is worth?