Real Estate: Types, Characteristics, and Agents

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Within the structure of Facebook advertising, which element allows for A/B testing of visual and textual content?

Ad Set
Campaign
Ad (correct)
Audience

What is the primary function of the 'Reach' objective under the 'Awareness' category in Facebook advertising?

To encourage users to install a specific app.
To generate leads through user sign-ups.
To increase traffic to a website or landing page.
To maximize the number of people who see the ad. (correct)

If an advertiser wants to target different audience segments with distinct ad placements while maintaining a unified objective, which Facebook advertising element should they utilize?

A single ad with dynamic creative optimization
Multiple Campaigns
Multiple Ads within a single ad set
Multiple Ad Sets within a single campaign (correct)

An advertiser aims to optimize their Facebook campaign for conversions and notices that one ad creative is significantly underperforming. Without altering the budget or targeting, which adjustment would MOST directly address this issue?

Replace the underperforming ad with a new creative within the same ad set. (B) Signup and view all the answers

An advanced marketing team is structuring a Facebook advertising strategy for a new mobile game. They decide their strategy involves the following steps: First, build overall public awareness for the game. Second, encourage a large section of this public to download the game from either the App Store or Google Play Store. Third, target a smaller segment of high-value users, who they expect to spend significant amounts of money inside the game. According to Facebook's marketing objectives outlined, what would the three steps the team would utilise, in order?

Brand awareness, App Installs, App Installs (high value) (A) Signup and view all the answers

What is the primary distinction between pre-qualification and pre-approval in the context of a loan application?

Pre-qualification is a dry run that can be completed quickly, while pre-approval is a more in-depth process involving verification and potential fees. (C) Signup and view all the answers

What is the primary purpose of assigning a campaign in the context of a real estate transaction?

To guide the agent through the necessary steps and tasks leading to closing. (A) Signup and view all the answers

Which document specifies the details of a real estate purchase, including the agreed-upon price, terms, and conditions?

Residential Purchase Agreement (RPA) (D) Signup and view all the answers

What best describes 'earnest money deposit' in a real estate transaction?

A security deposit made by the buyer to demonstrate their serious intent in purchasing the property. (B) Signup and view all the answers

Which of the following typically involves contacting a vendor and providing property details, including the MLS# and year built?

Ordering homeowner's insurance. (B) Signup and view all the answers

When is a termite inspection typically required?

Only for single-dwelling houses. (A) Signup and view all the answers

What distinguishes a Home Insurance policy from a Home Warranty?

Home Insurance covers damages from natural disasters, whereas Home Warranty typically covers damages from other causes, with the seller shouldering repair costs. (D) Signup and view all the answers

A real estate agent is working under a brokerage firm. How does the broker typically earn money?

By taking a share of the commissions earned by the real estate agents working under them. (D) Signup and view all the answers

Which document is essential to submit to all parties involved, especially the Escrow Company?

The Ratified Contract (D) Signup and view all the answers

What is the critical distinction between a real estate agent and a realtor?

A realtor is a licensed real estate agent or broker who is also a member of the National Association of Realtors (NAR). (D) Signup and view all the answers

What does 'HOA' stand for, and for which type of property is it typically required?

Homeowners Association; condominiums and townhouses. (D) Signup and view all the answers

What action formally initiates the escrow process?

Informing the escrow company via email and sending all necessary documents. (B) Signup and view all the answers

Which of the following scenarios accurately represents the process of foreclosure?

A lender initiates legal proceedings to take possession of a property due to the homeowner's failure to adhere to the mortgage agreement. (A) Signup and view all the answers

What is the significance of obtaining a copy of the ratified contract?

It confirms the agreement and is needed for compiling documents for the sale. (B) Signup and view all the answers

A buyer who has cold feet and no longer wants to purchase the property, can leverage the results of which of the following to potentially cancel the sale or negotiate repairs?

Any of the above. (D) Signup and view all the answers

Which action MUST be completed first?

Assign a Campaign. (B) Signup and view all the answers

In a complex real estate transaction, an unforeseen issue arises regarding the property's boundary lines, potentially affecting the sale. Existing survey data is inconclusive. Which course of action would MOST comprehensively address this issue to ensure a smooth closing?

Engage a qualified surveyor to conduct a new survey, then consult with a real estate attorney to interpret the findings and advise on legal implications. (B) Signup and view all the answers

Which of the following is considered an electronic copy?

Electronic Signature (D) Signup and view all the answers

How are 'days' typically counted in real estate contracts, especially concerning contingencies?

Calendar days, starting the day after acceptance. (D) Signup and view all the answers

In a real estate transaction, when does the count usually begin for 'days after' a specified event?

The day following the event. (B) Signup and view all the answers

According to the content, what is an advantage of using electronic signatures in real estate transactions?

They eliminate the need for printing, scanning, or faxing documents. (A) Signup and view all the answers

Where is the broker's compensation typically outlined in a real estate transaction?

In a separate document, such as the listing agreement. (C) Signup and view all the answers

Within how many business days after acceptance must a copy of the purchase agreement be delivered to escrow?

Within 3 business days. (B) Signup and view all the answers

In real estate contracts, what condition typically validates both the liquidated damages and arbitration clauses?

Mutual agreement and initiation by both buyer and seller. (A) Signup and view all the answers

How does the liquidated damages clause protect the buyer in a real estate contract?

It limits the buyer's liability to a maximum percentage of the purchase price. (A) Signup and view all the answers

A buyer makes a 5% deposit on a $500,000 property. Later, they default on the purchase agreement. If the liquidated damages clause is valid, what is the maximum amount the seller can retain from the buyer's deposit?

$15,000, equivalent to 3% of the purchase price. (A) Signup and view all the answers

Which of the following actions can only be performed by an admin of a Facebook page?

Assigning or changing roles for other people. (B) Signup and view all the answers

If you want to increase the visibility of a specific post from your Facebook page in users' news feeds, which action should you take?

Boost the post. (D) Signup and view all the answers

What is the primary purpose of the 'About' section on a Facebook page?

To provide basic information that helps visitors quickly understand the page. (A) Signup and view all the answers

As a page admin, where can you find a comprehensive record of your page's posts, comments, and hidden posts?

In the 'Activity Log'. (B) Signup and view all the answers

What does 'post attribution' refer to on a Facebook page?

The ability to choose whether your posts, likes, and comments are attributed to the page or to your personal profile. (C) Signup and view all the answers

Which of the following is NOT a designated role that can be assigned to individuals assisting in the management of a Facebook page?

Ambassador (A) Signup and view all the answers

A Facebook page has a blue badge next to its name. What does this signify?

The page is verified by Facebook as authentic. (A) Signup and view all the answers

In the context of Facebook advertising, what is the hierarchical relationship between a campaign, an ad set, and an ad?

A campaign contains one or more ad sets, which contain one or more ads. (A) Signup and view all the answers

What is the relationship between a campaign objective and bidding strategy for ads?

The campaign objective influences the bidding strategy, ad delivery, and creative options. (C) Signup and view all the answers

If a post from your page is displayed 1,000 times but only clicked 10 times, which metric reflects the number of times it was displayed, regardless of clicks?

Impressions (A) Signup and view all the answers

Flashcards

Ad Creative

The elements of an ad, including visuals and text.

Campaign

A group of ads with a specific marketing objective.