Arec exam 2024 Study guides, Class notes & Summaries

AREC 202 Practice Exam QUESTIONS AND ANSWER 2024/2025 FULLY SOLVED 100% 1. The optimal level of any activity (for consumers, firms or governments) is where A) average benefits from this activity equal average costs of this activity. B) total benefits from this activity equal total costs of this activity. C) marginal benefits from this activity equal marginal costs of this activity. D) marginal benefits from this activity are maximized. 1. To decide whether to increase an activity by one ...

AREC Exam Study Guide QUESTIONS AND ANSWER 2024/2025 FULLY SOLVED 100% Woodrow helps his neighbor sell his home by assisting with negotiations. He receives no compensation for his assistance. Based on this transaction, Woodrow _____ Doesn't need a real estate license What must you have to apply as a real estate salesperson in Alabama A sponsoring broker Daisy holds a real estate license in Mississippi and looking to obtain a reciprocal license in Alabama. Which requirement must she meet?...

AREC Final Exam QUESTIONS AND ANSWER 2024/2025 FULLY SOLVED 100% When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? Never A set of guidelines for the ethical conduct of real estate licensees is called a Code of ethics Which of the following is the best definition of a covenant between a lessor and lessee? An agreement or promise made between the parties Which party's closing costs might include mortgage insu...

AREC 202 Exam QUESTIONS AND ANSWER 2024/2025 FULLY SOLVED 100% What insight(s) did we get from the classroom clicker experiment where students had to choose how many points to contribute to a class account? Some people were willing to give more in order to acquire a higher point total, but other would keep all of their points. The people who decided to keep all of their points ended up better in the long-run. What insight(s) did we get from the Moblab experiment on asymmetric information (...

AREC exam 2024 Questions and Answers Woodrow helps his neighbor sell his home by assisting with negotiations. He receives no compensation for his assistance. Based on this transaction, Woodrow _____ - Answer-Doesn't need a real estate license What must you have to apply as a real estate salesperson in Alabama -Answer-A sponsoring broker Daisy holds a real estate license in Mississippi and looking to obtain a reciprocal license in Alabama. Which requirement must she meet? -Answer-Provide ...

AREC 305 ~ FINAL EXAM QUESTIONS AND ANSWERS 2024 By forming strategic alliances, small and medium sized farmers and ranchers can : - Answer-achieve marketing advantages that larger operations enjoy the last step in the decision-making process us to implement the decision -Answer-false more time should be spent on irrevocable decisions than on those which can be easily reversed -Answer-true standardization of farm financial ratios and accounting practices will help farm managers : -Answer-...

AREC 202 (Kroll) Final Exam Study Guide 2024 What insight(s) did we get from the classroom clicker experiment where students had to choose how many points to contribute to a class account? -Answer-Some people were willing to give more in order to acquire a higher point total, but other would keep all of their points. The people who decided to keep all of their points ended up better in the long-run. What insight(s) did we get from the Moblab experiment on asymmetric information (the Lemon...

AREC 202 FINAL EXAM QUESTIONS AND ANSWERS 2024 1. The optimal level of any activity (for consumers, firms or governments) is where A) average benefits from this activity equal average costs of this activity. B) total benefits from this activity equal total costs of this activity. C) marginal benefits from this activity equal marginal costs of this activity. D) marginal benefits from this activity are maximized. -Answer- 1. To decide whether to increase an activity by one unit you should co...

AREC Final exam Study Set 2024 When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? -Answer-Never A set of guidelines for the ethical conduct of real estate licensees is called a -Answer- Code of ethics Which of the following is the best definition of a covenant between a lessor and lessee? -Answer-An agreement or promise made between the parties Which party's closing costs might include mortgage insurance? -A...

"To uphold, protect, and promote the public interest, which embraces the interests of regulated licensees and entities and the interest of consumers, by the fair and impartial development and administration of licensing laws and regulations." - ANSWER-Alabama Real Estate Commission Mission Statement Protect consumers from unprofessional practices. - ANSWER-What is the primary purpose of license laws? Buyers, Sellers, Tenants, and Land/Building Owners - ANSWER-Who does license law protect...