COLIBRI NJ REAL ESTATE EXAM 2024| COLIBRI REAL
ESTATE EXAM AND PRACTICE EXAM 300 QUESTIONS
AND ANSWERS | LATEST UPDATE | GUARANTEED
PASS | GRADED A | 2024
1. A woman purchased a home on a lake. A boat was included in the
sale. What is most likely required at settlement to transfer ownership
of that boat to her?
A. bill of sale
B. deed
C. purchase agreement
D. sales
contract A.
2. Fsigns an exclusive right to sell listing agreement with broker R.
Before the listing expires, F terminates the agreement for no reason. The
following day, F sells the property to a co-worker. Which statement is
TRUE?
A. R can sue F to recover only the marketing expenses.
B. R can sue F for the full commission based on the list price.
C. R can sue F for the full commission based on the sales price.
D. R has no right to sue F, since a seller can terminate a listing at
any time without cause. C.
3. Which statement about lead paint is FALSE?
A. Issues arise when lead-based paint begins to chip or flake.
B. Lead paint disclosure must be made when selling a house built prior to
1982.
C. Lead poisoning occurs via the nose and mouth; it must be breathed in or
ingested.
D. Lead present in water is colorless,
odorless, and tasteless. B.
4. A developer purchases a foreclosed property for $96,000, intending to
,rehab it. Instead, he lets it deteriorate and finally sells it a few years later
for $84,000. Calculate his loss.
A. 8.75%
B. 11.4%
C. 12.5%
D.
14.2%
C.
,5. A homeowner lists her property at $155,000. Her broker receives an offer
from A for
$135,000 cash and a closing in 30 days; another offer from B for
$145,000, subject to the owner taking back a purchase money mortgage;
and an offer from C at $150,000, subject to the buyer obtaining a
mortgage. What should the listing broker do?
A. Present all of the offers to the seller, even if the seller accepts the first
offer.
B. Present none of the offers, as they are all below the seller's asking price.
C. Present only the first offer until the seller makes a decision; then present
the next offer.
D. Present whichever offer is the highest and has the most
favorable terms for the seller. A.
6. Kis a transfer student from Korea looking for a one-bedroom
apartment. She asks for something near the university. Her rental agent
L shows her apartments only in an area known as Chinatown, telling her
she'd feel more at home there. L could be guilty of
A. blockbusting.
B. panic peddling.
C. redlining.
D. stee
ring. D.
7. A
lender must provide the Closing Disclosure to a borrower at least
prior to settlement.
A. 1 business day
B. 3 business days
C. 3 calendar days
D. 5
business days
B.
8. An investor is evaluating the performance of his duplex. If he
subtracts debt service from the net operating income, what does he
find?
A. cash flow before taxes
, B. cash-on-cash return
C. effective gross income
D. reserves for
replacement A.
9. Market value can be defined as the
A. amount a buyer paid to purchase a property.
B. cost in materials and labor necessary to construct property.
C. most probable selling price in a typical transaction.
D. what a property actually sold for.
511 Practice Exam C.
ESTATE EXAM AND PRACTICE EXAM 300 QUESTIONS
AND ANSWERS | LATEST UPDATE | GUARANTEED
PASS | GRADED A | 2024
1. A woman purchased a home on a lake. A boat was included in the
sale. What is most likely required at settlement to transfer ownership
of that boat to her?
A. bill of sale
B. deed
C. purchase agreement
D. sales
contract A.
2. Fsigns an exclusive right to sell listing agreement with broker R.
Before the listing expires, F terminates the agreement for no reason. The
following day, F sells the property to a co-worker. Which statement is
TRUE?
A. R can sue F to recover only the marketing expenses.
B. R can sue F for the full commission based on the list price.
C. R can sue F for the full commission based on the sales price.
D. R has no right to sue F, since a seller can terminate a listing at
any time without cause. C.
3. Which statement about lead paint is FALSE?
A. Issues arise when lead-based paint begins to chip or flake.
B. Lead paint disclosure must be made when selling a house built prior to
1982.
C. Lead poisoning occurs via the nose and mouth; it must be breathed in or
ingested.
D. Lead present in water is colorless,
odorless, and tasteless. B.
4. A developer purchases a foreclosed property for $96,000, intending to
,rehab it. Instead, he lets it deteriorate and finally sells it a few years later
for $84,000. Calculate his loss.
A. 8.75%
B. 11.4%
C. 12.5%
D.
14.2%
C.
,5. A homeowner lists her property at $155,000. Her broker receives an offer
from A for
$135,000 cash and a closing in 30 days; another offer from B for
$145,000, subject to the owner taking back a purchase money mortgage;
and an offer from C at $150,000, subject to the buyer obtaining a
mortgage. What should the listing broker do?
A. Present all of the offers to the seller, even if the seller accepts the first
offer.
B. Present none of the offers, as they are all below the seller's asking price.
C. Present only the first offer until the seller makes a decision; then present
the next offer.
D. Present whichever offer is the highest and has the most
favorable terms for the seller. A.
6. Kis a transfer student from Korea looking for a one-bedroom
apartment. She asks for something near the university. Her rental agent
L shows her apartments only in an area known as Chinatown, telling her
she'd feel more at home there. L could be guilty of
A. blockbusting.
B. panic peddling.
C. redlining.
D. stee
ring. D.
7. A
lender must provide the Closing Disclosure to a borrower at least
prior to settlement.
A. 1 business day
B. 3 business days
C. 3 calendar days
D. 5
business days
B.
8. An investor is evaluating the performance of his duplex. If he
subtracts debt service from the net operating income, what does he
find?
A. cash flow before taxes
, B. cash-on-cash return
C. effective gross income
D. reserves for
replacement A.
9. Market value can be defined as the
A. amount a buyer paid to purchase a property.
B. cost in materials and labor necessary to construct property.
C. most probable selling price in a typical transaction.
D. what a property actually sold for.
511 Practice Exam C.
