Colibri Real Estate 2026 Exam
Questions and Answers | A+
Score Assured
Joe Alpha of ABC Real Estate Corp. has been very successful in buying
houses, fixing them up, and reselling them. He put an advertisement in the
local newspaper seeking investors to help him purchase property and pay
for renovations, promising an excellent return on investment when the
properties sold. Do you think that Joe needs a securities broker-dealer
license? - 🧠 ANSWER ✔✔No
,Ellie is very regimented. She likes to be in the office by 8 a.m. and be home
by 5:30 p.m. She likes that same precision in her monthly budget—she
wants to know what's coming in and how much she can expect to put into
her IRA. She is a good candidate for a career in real estate sales. - 🧠
ANSWER ✔✔False
Phil, a real estate licensee, considers going to work for JJ Realty. Broker
Jana James offers him a 60%-40% split on commission. If JJ Realty takes
in $5,000 total commission on Phil's first sale, what is Phil's split? - 🧠
ANSWER ✔✔$3,000
A real estate licensee is more likely to be an employee of his broker. - 🧠
ANSWER ✔✔False
If a broker supervises the real estate activities of an associated licensee,
that licensee CANNOT be considered an independent contractor. - 🧠
ANSWER ✔✔False
A real estate licensee who is an independent contractor is paid based on
successful real estate transactions, not on hours worked. - 🧠 ANSWER
✔✔True
,Generically speaking, a person who, for a fee, sells, lists, leases,
exchanges, negotiates, or otherwise deals in the real estate of others or
represents publicly that they do so. - 🧠 ANSWER ✔✔Broker
A business that serves as an intermediary between buyers and sellers
and/or lessees and lessors of real estate. - 🧠 ANSWER ✔✔Brokerage
Insurance that protects real estate licensees from liability due to mistakes
or negligence. It does not cover claims related to fraud or discrimination. - 🧠
ANSWER ✔✔Errors and Omissions Insurance (E&O)
Under common law, a person who contracts to do a job for another but
maintains control over how the task will be carried out, rather than following
detailed instructions. - 🧠 ANSWER ✔✔Independent Contractor
A person licensed under state law to practice real estate. - 🧠 ANSWER
✔✔Licensee
Any real estate licensee who is a member of the National Association of
REALTORS® (NAR) and his or her affiliated state/local boards. Only
members may use the term REALTOR® as it's a registered trademark of
NAR. - 🧠 ANSWER ✔✔REALTOR®
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Generically speaking, a real estate licensee agent who is associated with a
broker and as such may perform most of the acts a broker can on behalf of
the broker. Also called Sales Associate. - 🧠 ANSWER ✔✔Salesperson
A real estate licensee who is treated as an independent contractor for tax
purposes when specified conditions are met: proper licensing;
compensation based on sales; and services performed under a written
contract. - 🧠 ANSWER ✔✔Statutory Nonemployee
In which field do the majority of new licensees begin their work? - 🧠
ANSWER ✔✔Residential Sales
Which is NOT an advantage to a career in real estate sales? - 🧠 ANSWER
✔✔the option to double commission percentages during slow months
Licensee Louie has worked for Rick, the broker at ABC Realty, for 20
years. Louie has been accused of negligence for not disclosing a material
fact to a buyer. Which statement is TRUE? - 🧠 ANSWER ✔✔Rick can be
held liable for Louie's misconduct.
At the end of the year, what tax form will an independent contractor receive
to document their income? - 🧠 ANSWER ✔✔1099-MISC
Questions and Answers | A+
Score Assured
Joe Alpha of ABC Real Estate Corp. has been very successful in buying
houses, fixing them up, and reselling them. He put an advertisement in the
local newspaper seeking investors to help him purchase property and pay
for renovations, promising an excellent return on investment when the
properties sold. Do you think that Joe needs a securities broker-dealer
license? - 🧠 ANSWER ✔✔No
,Ellie is very regimented. She likes to be in the office by 8 a.m. and be home
by 5:30 p.m. She likes that same precision in her monthly budget—she
wants to know what's coming in and how much she can expect to put into
her IRA. She is a good candidate for a career in real estate sales. - 🧠
ANSWER ✔✔False
Phil, a real estate licensee, considers going to work for JJ Realty. Broker
Jana James offers him a 60%-40% split on commission. If JJ Realty takes
in $5,000 total commission on Phil's first sale, what is Phil's split? - 🧠
ANSWER ✔✔$3,000
A real estate licensee is more likely to be an employee of his broker. - 🧠
ANSWER ✔✔False
If a broker supervises the real estate activities of an associated licensee,
that licensee CANNOT be considered an independent contractor. - 🧠
ANSWER ✔✔False
A real estate licensee who is an independent contractor is paid based on
successful real estate transactions, not on hours worked. - 🧠 ANSWER
✔✔True
,Generically speaking, a person who, for a fee, sells, lists, leases,
exchanges, negotiates, or otherwise deals in the real estate of others or
represents publicly that they do so. - 🧠 ANSWER ✔✔Broker
A business that serves as an intermediary between buyers and sellers
and/or lessees and lessors of real estate. - 🧠 ANSWER ✔✔Brokerage
Insurance that protects real estate licensees from liability due to mistakes
or negligence. It does not cover claims related to fraud or discrimination. - 🧠
ANSWER ✔✔Errors and Omissions Insurance (E&O)
Under common law, a person who contracts to do a job for another but
maintains control over how the task will be carried out, rather than following
detailed instructions. - 🧠 ANSWER ✔✔Independent Contractor
A person licensed under state law to practice real estate. - 🧠 ANSWER
✔✔Licensee
Any real estate licensee who is a member of the National Association of
REALTORS® (NAR) and his or her affiliated state/local boards. Only
members may use the term REALTOR® as it's a registered trademark of
NAR. - 🧠 ANSWER ✔✔REALTOR®
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Generically speaking, a real estate licensee agent who is associated with a
broker and as such may perform most of the acts a broker can on behalf of
the broker. Also called Sales Associate. - 🧠 ANSWER ✔✔Salesperson
A real estate licensee who is treated as an independent contractor for tax
purposes when specified conditions are met: proper licensing;
compensation based on sales; and services performed under a written
contract. - 🧠 ANSWER ✔✔Statutory Nonemployee
In which field do the majority of new licensees begin their work? - 🧠
ANSWER ✔✔Residential Sales
Which is NOT an advantage to a career in real estate sales? - 🧠 ANSWER
✔✔the option to double commission percentages during slow months
Licensee Louie has worked for Rick, the broker at ABC Realty, for 20
years. Louie has been accused of negligence for not disclosing a material
fact to a buyer. Which statement is TRUE? - 🧠 ANSWER ✔✔Rick can be
held liable for Louie's misconduct.
At the end of the year, what tax form will an independent contractor receive
to document their income? - 🧠 ANSWER ✔✔1099-MISC
