Sales associate probably works in decentralized organization

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Reference no: EM132221300

1. A sales associate probably works in a decentralized organization if he says that his company has

A) several departments reporting to middle managers, who in turn report to the president.

B) no departments because the broker seems to do everything.

C) several departments that report directly to the president and operate almost as individual entities, with department heads directing each group’s activities.

D) several departments, but each department head’s authority is strictly limited by top management.

2. A sales associate receives a $5,000 good-faith deposit on Thursday. If the broker does not use a title company to hold good-faith deposits, the sales associate

A) must give it to his broker by Friday, and his broker must deposit the funds by Tuesday.

B) has until Tuesday to turn the deposit over to his broker.

C) may hold the deposit until the seller accepts or rejects the offer.

D) must give it to his broker by Friday, and his broker must deposit the funds by Sunday.

3. A transaction broker is NOT required to

A) treat both parties to a transaction fairly.

B) tell the customer about known defects in the house that are not readily visible.

C) give a customer a brokerage relationship notice.

D) present offers and counteroffers in a timely manner.

4. Credit terms for debtors must include the payment dates of the debt.

a. True

b. False

4. What is NOT a characteristic of neighborhood centers?

A) They house a number of stores of the same type of product.

B) They serve a trade-area population of 5,000–40,000.

C) The layout enables a quick shopping trip.

D) They provide the sale of necessary goods and personal services.

5. Which of the following is NOT considered a potentially responsible party (PRP) under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)?

A) Previous owners

B) Anyone that installed the hazardous material

C) Anyone who produced the hazardous material

D) Lenders as long as they perform no management functions

Reference no: EM132221300

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