RC SYSTEM

Realtor Certification Test

1)

The Realtor makes a commission and represents

A. The Home Buyer
B. The Wholesaler / Investor

2)

The Home Buyer makes their earnest money

check payable to:
A. The Title Co. B. The Wholesaler

3)

To get what they want the Home Buyer is paying a

profit of exactly _____% of the purchase price.

4)

5)

The option fee is paid directly to the Seller by:

A. The Investor
B. The Home Buyer
The offer to buy will be made in the name of a
Trust with a 45 day closing. The main reason a
Trust is used is to make a non-assignable contract
assignable.
True
False

6)

The interest rate with 20% down is 10.9% fixed

unless the Home Buyer qualifies for a discount.
True
False

7)
Act

Section 9 of the Real Estate Settlement Procedures

prohibits sellers from conditioning the home sale

on the
use of a specific title insurance company.
True
False
8)

9)

Using the Wholesalers Title Company is a

requirement of the RC System.
True
False
Lenders prefer not to see an assignment of
contract.
True
False

10) After I get an executed contract and the Buyer

approves the condition of the property I must
rewrite the offer in the Investors name and target
45 days to close.
True
False
11) Instead of rewriting the entire contract I can just
use an Amendment to contract and amend the
name of the Buyer.
True
False
12) Telling the Listing Agent or the Seller that you are
helping an Investor resell for profit can jeopardize
the entire transaction. Information is provided on a
Need-To-Know basis.
True
False

13) Is there a loan application or a loan application fee

required in the RC System?
Yes
No
14) The Investor Closes 1st and the Home Buyer closes
about 7 days later after the deed is recorded and a
recording number is available.
True
False

15) An investor is not assigned to purchase the home

until the Home Buyer has placed 10% earnest
money. Then it will take at approx. 30 days to close.
True
False
16) A Wholesaler makes money by assigning contracts to
other
investors.
True False
17) The RC System requires that the Home Buyer
select a
home that is in loanable condition True
False
18) If I refer a Client with that can qualify for an
investor loan
A. I will make a 1.5% fee every time the Client
Buys
B. I dont have to find or show the home
C. I dont have to sell the Client
D. I dont have to negotiate or write the offer
E. All the above
19) The Home Buyer reimburses the exact closing
costs that the Investor pays to acquire the home.
True
False
20) Successful people know what they want so they
make decisions quickly and change them slowly
resulting in less risk. Making an immediate decision
is rewarded with
A. % lower rate B. 1% lower rate C. 2% lower
rate
21) The cost for Home Buyer documents to close is
less than $1,000.
True
False
22) The Home Buyer makes the Appraisal check
payable to
A. The Lender
B. The Investor
23) The target minimum down payment is 20%. The
target minimum purchase price is $200,000.
True
False

RC System | 2016 | Realtor Certification Test | All rights reserved. | Reproduction in any form without the express consent of RCS is
prohibited. |
713-703-4001 TheReverseClose.com Updated 8/19/16 | CustomerService@TheReverseClose.com

RC SYSTEM
Realtor Certification Test
24) The RC System is a proprietary real estate
strategy which merges the benefits of Wholesaling
and Subject-To strategies without any of the
negatives.
True
False
25) I can be a Realtor and a Wholesaler and the
Investor as long as I provide full disclosure.
True
False
BONUS QUESTION

1) After the Buyer gets a Deed in their name they must

get a Home Owner Insurance Policy and name the
Investor and the Lender as Mortgagees.
True
False
CLIENT X

DATE:

/2016
SCORE:

RC System | 2016 | Realtor Certification Test | All rights reserved. | Reproduction in any form without the express consent of RCS is
prohibited. |
713-703-4001 TheReverseClose.com Updated 8/19/16 | CustomerService@TheReverseClose.com