Colibri Real Estate (Real Estate Express)
Final Exam Review/ Exam Questions with
Correct Answers/ Rated A+ 2026/2027
Any salesperson can legally receive her share of the commission on a sale from
A) her employing broker only.
B) any cooperating broker with whom she completes a sale.
C) a builder she represents in a sale
D) the purchaser of the home in a successful sale. - ANSWER - A) her employing broker only.
Which of these is NOT considered when determining whether an item is a fixture or personal
property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties - ANSWER - C) value of the annexed item
RESPA applies to _________ financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
pg. 1
007
, D) only single-family dwellings - ANSWER - C) one- to four-family residences
Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop" - ANSWER - D) "three-car garage with room
for a
workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet - ANSWER - B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and
Amanda. As they gather at the settlement table, Kim has stacks of documents that need to be
signed in order to complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim - ANSWER - B) Greg and Ashley
Which is an example of steering?
007
, pg. 2
007
, A) a licensee tells homeowner that their property values will drop when a foreign family moves
in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse
building.
D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity. - ANSWER -
C) a property manager suggests a prospective tenant would be happier in a more diverse
building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is
set to increase 10% every month for the next 18 months as business takes off. Lester has what
kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease - ANSWER - A) graduated lease
When Dave and Lucy get married, they decide to sell each of their homes and buy one house
together. Lucy's house sells for $700,000; Dave's house sells for $300,000, and they're going to
buy a $1 million house. If Lucy wants a 70% interest in the new house, what form of ownership
must they take?
A) joint tenancy
B) tenancy in common
C) tenancy by the entirety
D) tenancy in severalty - ANSWER - B) tenancy in common
A property is listed for $200,000. The broker gets an offer from Gina for $150,000 cash with a
closing in 90 days, one from Tim at $155,000, subject to the buyer getting a first mortgage for
$130,000, an offer from Shari at $190,000 subject to the owner taking back a purchase money
mortgage with closing in 30 days. The broker should disclose which offer(s)?
A) all of the offers
007
Final Exam Review/ Exam Questions with
Correct Answers/ Rated A+ 2026/2027
Any salesperson can legally receive her share of the commission on a sale from
A) her employing broker only.
B) any cooperating broker with whom she completes a sale.
C) a builder she represents in a sale
D) the purchaser of the home in a successful sale. - ANSWER - A) her employing broker only.
Which of these is NOT considered when determining whether an item is a fixture or personal
property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties - ANSWER - C) value of the annexed item
RESPA applies to _________ financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
pg. 1
007
, D) only single-family dwellings - ANSWER - C) one- to four-family residences
Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop" - ANSWER - D) "three-car garage with room
for a
workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet - ANSWER - B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and
Amanda. As they gather at the settlement table, Kim has stacks of documents that need to be
signed in order to complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim - ANSWER - B) Greg and Ashley
Which is an example of steering?
007
, pg. 2
007
, A) a licensee tells homeowner that their property values will drop when a foreign family moves
in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse
building.
D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity. - ANSWER -
C) a property manager suggests a prospective tenant would be happier in a more diverse
building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is
set to increase 10% every month for the next 18 months as business takes off. Lester has what
kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease - ANSWER - A) graduated lease
When Dave and Lucy get married, they decide to sell each of their homes and buy one house
together. Lucy's house sells for $700,000; Dave's house sells for $300,000, and they're going to
buy a $1 million house. If Lucy wants a 70% interest in the new house, what form of ownership
must they take?
A) joint tenancy
B) tenancy in common
C) tenancy by the entirety
D) tenancy in severalty - ANSWER - B) tenancy in common
A property is listed for $200,000. The broker gets an offer from Gina for $150,000 cash with a
closing in 90 days, one from Tim at $155,000, subject to the buyer getting a first mortgage for
$130,000, an offer from Shari at $190,000 subject to the owner taking back a purchase money
mortgage with closing in 30 days. The broker should disclose which offer(s)?
A) all of the offers
007
