Colibri Practice Test – High-Yield Questions & Answers |
Latest Update 2026 | 100% Pass Guarantee | Exam Prep
1. Describe the legal obligations of a landlord in Florida regarding the return of
a tenant's security deposit.
A landlord can keep the security deposit indefinitely.
A landlord must notify the tenant of any deductions within 15 days.
A landlord must return the security deposit within 30 days regardless
of intent.
A landlord must return the security deposit within 15 days if they do
not intend to keep any of it.
2. What does the agency require a licensee whose license is inactive for more
than two years to do in order to reactivate it?
Submit a renewal application and written request to become active
and the associated pay fees.
Submit a renewal application, complete 30 hours of renewal
coursework, pass the exam, pass a background check, and pay the
required fees.
Complete the online reactivation application and pay the fees.
Submit a new application, complete coursework, pass an exam, pass
a background check, and pay all fees.
3. If a property has both a mortgage lien and a property tax lien, which lien
would be settled first in the event of a foreclosure?
Property tax lien
Mechanic's lien
Mortgage lien
, Judgment lien
4. Why is it important for a sales associate to disclose her status when selling
her own property?
It exempts her from paying taxes on the sale.
It ensures transparency and compliance with legal and ethical
standards in real estate transactions.
It enables her to avoid inspections on the property.
It allows her to negotiate a higher sale price.
5. Describe the importance of recording a deed in a real estate transaction.
Recording a deed is optional and has no legal significance.
Recording a deed guarantees the buyer's mortgage approval.
Recording a deed only affects the seller's obligations.
Recording a deed provides public notice of ownership and protects
the buyer's rights against future claims.
6. What is the time frame specified by Florida law for a landlord to return a
tenant's security deposit if they do not intend to keep any of it?
30 days
15 days
60 days
45 days
7. Who is authorized to inspect a broker's records according to Florida real
estate regulations?
, A local law enforcement officer
A DBPR employee or authorized representative
The broker themselves
Any licensed real estate agent
8. What type of lien typically holds the highest priority during a title search?
Property tax lien
Judgment lien
Mortgage lien
Mechanic's lien
9. What type of an estate is one that continues for a definite fixed period of
time?
Estate at will
Estate at sufferance
Estate for years
Estate from period to period
10. What is the term for the type of property ownership that includes the right of
survivorship for married couples?
Joint tenancy
Sole ownership
Tenancy by the entirety
Tenancy in common
, 11. If a real estate contract lacks the element of legal purpose, what would be
the likely outcome?
The contract would require additional witnesses to be valid.
The contract would be valid but unenforceable.
The contract would be considered void.
The contract would be enforceable with modifications.
12. Who is referred to as the mortgagee in a real estate transaction?
The title company handling the closing.
The lender or financial institution that provides the loan.
The real estate agent facilitating the sale.
The borrower who takes out the loan.
13. If a property is sold for $12.5 million, and the transaction indicated cap rate is
8%, what should be the property's Net Operating Income (NOI)?
$800,000
cannot be determined from the information given
$1,000,000
$1,250,000
14. If a DBPR employee discovers discrepancies in a broker's records during an
inspection, what actions might they take?
Report the findings to the local law enforcement.
Allow the broker to correct the records without any consequences.
Ignore the discrepancies if they are minor.
Latest Update 2026 | 100% Pass Guarantee | Exam Prep
1. Describe the legal obligations of a landlord in Florida regarding the return of
a tenant's security deposit.
A landlord can keep the security deposit indefinitely.
A landlord must notify the tenant of any deductions within 15 days.
A landlord must return the security deposit within 30 days regardless
of intent.
A landlord must return the security deposit within 15 days if they do
not intend to keep any of it.
2. What does the agency require a licensee whose license is inactive for more
than two years to do in order to reactivate it?
Submit a renewal application and written request to become active
and the associated pay fees.
Submit a renewal application, complete 30 hours of renewal
coursework, pass the exam, pass a background check, and pay the
required fees.
Complete the online reactivation application and pay the fees.
Submit a new application, complete coursework, pass an exam, pass
a background check, and pay all fees.
3. If a property has both a mortgage lien and a property tax lien, which lien
would be settled first in the event of a foreclosure?
Property tax lien
Mechanic's lien
Mortgage lien
, Judgment lien
4. Why is it important for a sales associate to disclose her status when selling
her own property?
It exempts her from paying taxes on the sale.
It ensures transparency and compliance with legal and ethical
standards in real estate transactions.
It enables her to avoid inspections on the property.
It allows her to negotiate a higher sale price.
5. Describe the importance of recording a deed in a real estate transaction.
Recording a deed is optional and has no legal significance.
Recording a deed guarantees the buyer's mortgage approval.
Recording a deed only affects the seller's obligations.
Recording a deed provides public notice of ownership and protects
the buyer's rights against future claims.
6. What is the time frame specified by Florida law for a landlord to return a
tenant's security deposit if they do not intend to keep any of it?
30 days
15 days
60 days
45 days
7. Who is authorized to inspect a broker's records according to Florida real
estate regulations?
, A local law enforcement officer
A DBPR employee or authorized representative
The broker themselves
Any licensed real estate agent
8. What type of lien typically holds the highest priority during a title search?
Property tax lien
Judgment lien
Mortgage lien
Mechanic's lien
9. What type of an estate is one that continues for a definite fixed period of
time?
Estate at will
Estate at sufferance
Estate for years
Estate from period to period
10. What is the term for the type of property ownership that includes the right of
survivorship for married couples?
Joint tenancy
Sole ownership
Tenancy by the entirety
Tenancy in common
, 11. If a real estate contract lacks the element of legal purpose, what would be
the likely outcome?
The contract would require additional witnesses to be valid.
The contract would be valid but unenforceable.
The contract would be considered void.
The contract would be enforceable with modifications.
12. Who is referred to as the mortgagee in a real estate transaction?
The title company handling the closing.
The lender or financial institution that provides the loan.
The real estate agent facilitating the sale.
The borrower who takes out the loan.
13. If a property is sold for $12.5 million, and the transaction indicated cap rate is
8%, what should be the property's Net Operating Income (NOI)?
$800,000
cannot be determined from the information given
$1,000,000
$1,250,000
14. If a DBPR employee discovers discrepancies in a broker's records during an
inspection, what actions might they take?
Report the findings to the local law enforcement.
Allow the broker to correct the records without any consequences.
Ignore the discrepancies if they are minor.
