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Real Estate Mortgage Completion Date Quiz

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Real Estate Mortgage Completion Date Quiz

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Questions and Answers

What is the completion date in a real estate transaction?

The date when the real estate agents get paid

The date when the money is transferred to the seller and the land title is transferred to the buyer (correct)

The date when lawyers tally up debits and credits for the deal

The date when the property keys are handed over to the buyer

What is the possession date in a real estate transaction?

The date when the money is transferred to the seller

The day lawyers tally up debits and credits for the deal

The date when the property taxes are due

The day the purchaser gets the keys and physical access to the property (correct)

What is the adjustment date in a real estate transaction used for?

To transfer the land title to the buyer

To complete the transaction and transfer the money to the seller

To set the deadline for property tax payments

To tally up the debits and credits to balance out the deal (correct)

What is the significance of July 1st in relation to property taxes?

It is the cut-off day for taxes, marking the start of a new tax year (D) Signup and view all the answers

What does it mean when the vendor has paid the annual taxes for the property?

The vendor has already settled the taxes for the current year (A) Signup and view all the answers

Match the following promotional tools with their primary usage:

Personal selling = Direct interaction with potential customers to make sales Advertising = Paid communication through various media to promote a product or service Public relations = Managing the spread of information between an individual or organization and the public Sales promotion = Short-term incentives to encourage the purchase or sale of a product or service Signup and view all the answers

Match the following components with their role in marketing:

Target market = Specific group of potential customers for a product or service Promotional objectives = Goals to be achieved through marketing activities Proper blending of components = Creating a cohesive marketing mix to meet the needs of the target market Desired promotional objectives = The specific outcomes or results intended to be achieved through promotional efforts Signup and view all the answers

Match the following terms with their definitions:

Styling = Applying visual design to elements on a web page Promotion = Activities aimed at encouraging the purchase or sale of a product or service Components = Individual elements that make up a whole Scripting = Writing code to automate tasks or create interactive elements on a web page Signup and view all the answers