Small businesses and entrepreneurial ventures can compete successfully in narrow market niches by developing a low-cost, differentiation, or integrated competitive advantage

Loans from some lenders must comply with the Real Estate Settlement Procedures Act. When the loan is secured by residential real property, and contains 1-to-4 residential units, the loan must comply with the RESPA regulations if the loan is made by:

A: The seller of the property who carries back a note secured by a first deed of trust as part of the purchase price; B: A private lender who loans personal funds through a licensed real estate broker; C: Lenders whose deposits are insured by an agency of the federal government; D: Any of the above.

Which of the following is a breach of fiduciary duty?

A) A broker recommends to his client that he buy shares of a company without telling the client that he (the broker) is being paid by the company to promote it. B) A broker recommends to his client that he buy shares of a company without telling the client that he (the broker) owns shares in that company. C) A broker recommends to his client that he use a particular lending institution to finance the purchase without telling the client that he (the broker) gets referrals from the institution in return. D) Both A and B E) All of the above