COLIBRI REAL ESTATE PRACTICE FINAL
STUDY GUIDE 2026 QUESTIONS WITH
ANSWERS GRADED A+
⩥ Tie-in arrangements. Answer: Arrangements that require a buyer to
purchase additional or unrelated products or services when making a
product purchase.
⩥ What three parameters constitute an antitrust violation when present
in a business activity that unreasonably restricts competition and
functions against the public interest? Answer: Monopoly, contract, or
conspiracy
Restraint of trade
Unreasonableness
⩥ What's the penalty for violating the Sherman Antitrust Act? Answer:
Individual violators of the Sherman Antitrust Act can be fined up to
$350,000 and sentenced to up to three years in federal prison for each
offense. Corporations can be fined up to 10 million dollars for each
offense.
,the Criminal Antitrust Penalty Enhancement and Reform Act of 2004
increased the maximum criminal penalty for individuals to 10 years'
imprisonment and a one million dollar fine, and the maximum penalty
for corporations to a 100 million dollar fine.
⩥ Broker Jed tells Buyer Sam that when he signs his purchase
agreement, he must also purchase a subscription to Jed's monthly
newsletter. What would you say about this? Answer: This is a tie-in
arrangement which is prohibited by the Sherman Antitrust Act because it
requires the buyer to purchase additional or unrelated products or
services.
⩥ The action of misrepresenting the authority of a salesperson to
negotiate the final terms of a transaction is a violation of what law?
Answer: Texas Deceptive Trade Practices-Consumer Protection Act
(DTPA)
⩥ Knowingly making false statements concerning the needs for parts,
replacement, or repair services is a violation of what law Answer: Texas
Deceptive Trade Practices-Consumer Protection Act (DTPA)
⩥ How long does a consumer have to bring a DTPA suit? Answer: The
consumer must commence the suit within two (2) years after the
deceptive act occurred or within two (2) years after the consumer
discovered, or should have discovered, the deceptive act.
, ⩥ Why did the Texas legislature assert that the DTPA did not apply to
licensees in claims that arise from an act of omission by that licensee?
Answer: In order to reduce the number of frivolous lawsuits brought
against licensees and brokers
⩥ Civil Rights Act of 1866 Answer: The Civil Rights Act (1866)
prohibited housing discrimination based on race. However, the federal
government did not provide remedies. Individuals affected by
discrimination had to provide their own remedies.
⩥ As you've learned, there are many steps a broker should take to ensure
compliance with fair housing laws. List 2 of these steps. Answer:
Prominently display in all offices the Equal Opportunity Poster that
HUD distributes
Provide ongoing training and education to all affiliated licensees.
Brokers can do that by holding seminars and workshops, watching
videos, and bringing in guest speakers
⩥ What is significant about the Fair Housing Amendments Act of 1988?
Answer: It added handicap and familial status to the list of protected
classes.
⩥ What housing is exempt from the familial status protected class?
Answer: Housing for older persons is exempt if one of the following
conditions exists:
STUDY GUIDE 2026 QUESTIONS WITH
ANSWERS GRADED A+
⩥ Tie-in arrangements. Answer: Arrangements that require a buyer to
purchase additional or unrelated products or services when making a
product purchase.
⩥ What three parameters constitute an antitrust violation when present
in a business activity that unreasonably restricts competition and
functions against the public interest? Answer: Monopoly, contract, or
conspiracy
Restraint of trade
Unreasonableness
⩥ What's the penalty for violating the Sherman Antitrust Act? Answer:
Individual violators of the Sherman Antitrust Act can be fined up to
$350,000 and sentenced to up to three years in federal prison for each
offense. Corporations can be fined up to 10 million dollars for each
offense.
,the Criminal Antitrust Penalty Enhancement and Reform Act of 2004
increased the maximum criminal penalty for individuals to 10 years'
imprisonment and a one million dollar fine, and the maximum penalty
for corporations to a 100 million dollar fine.
⩥ Broker Jed tells Buyer Sam that when he signs his purchase
agreement, he must also purchase a subscription to Jed's monthly
newsletter. What would you say about this? Answer: This is a tie-in
arrangement which is prohibited by the Sherman Antitrust Act because it
requires the buyer to purchase additional or unrelated products or
services.
⩥ The action of misrepresenting the authority of a salesperson to
negotiate the final terms of a transaction is a violation of what law?
Answer: Texas Deceptive Trade Practices-Consumer Protection Act
(DTPA)
⩥ Knowingly making false statements concerning the needs for parts,
replacement, or repair services is a violation of what law Answer: Texas
Deceptive Trade Practices-Consumer Protection Act (DTPA)
⩥ How long does a consumer have to bring a DTPA suit? Answer: The
consumer must commence the suit within two (2) years after the
deceptive act occurred or within two (2) years after the consumer
discovered, or should have discovered, the deceptive act.
, ⩥ Why did the Texas legislature assert that the DTPA did not apply to
licensees in claims that arise from an act of omission by that licensee?
Answer: In order to reduce the number of frivolous lawsuits brought
against licensees and brokers
⩥ Civil Rights Act of 1866 Answer: The Civil Rights Act (1866)
prohibited housing discrimination based on race. However, the federal
government did not provide remedies. Individuals affected by
discrimination had to provide their own remedies.
⩥ As you've learned, there are many steps a broker should take to ensure
compliance with fair housing laws. List 2 of these steps. Answer:
Prominently display in all offices the Equal Opportunity Poster that
HUD distributes
Provide ongoing training and education to all affiliated licensees.
Brokers can do that by holding seminars and workshops, watching
videos, and bringing in guest speakers
⩥ What is significant about the Fair Housing Amendments Act of 1988?
Answer: It added handicap and familial status to the list of protected
classes.
⩥ What housing is exempt from the familial status protected class?
Answer: Housing for older persons is exempt if one of the following
conditions exists:
