COLIBRI REAL ESTATE 30 HOUR FINAL PA EXAM
2024/2025 | ACCURATE CURRENTLY TESTING REAL
EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Buyer's Market - ANSWER: A situation in the housing market when there are many
homes available for sale, but few buyers.
Cost of Money - ANSWER: The interest rate that people or businesses must pay to
use another's money for their own purposes.
Economic Base - ANSWER: The main business or industry in an area that supports
and sustains the community.
Inflation - ANSWER: An increase in the cost of goods or services or too many people
wanting too few goods.
Non-Homogeneity - ANSWER: A characteristic of real property; each piece of land,
each building, and each house is a unique piece of real estate. Also called
Uniqueness or Heterogeneity.
Real Estate Cycles - ANSWER: General swings in real estate activity, resulting in
increasing or decreasing activity and property values, during different phases of the
cycle.
Scarcity - ANSWER: A physical characteristic of real property that says there is a
limited supply of real estate; the perceived supply of a good or service relative to the
demand for the item.
Seller's Market - ANSWER: A situation in the housing market when a large number of
buyers are looking for houses in an area of limited availability.
Supply and Demand - ANSWER: An economic principle that says that for all products,
goods, and services when supply exceeds demand, prices will fall and when demand
exceeds supply, prices will rise.
Agency - ANSWER: Every relationship in which a real estate broker acts for or
represents another by the latter's express authority in a real property transaction.
Associate broker - ANSWER: A person who acts on behalf of a real estate broker in
performing any act authorized by this chapter of law to be performed by the broker.
Brokerage agreement - ANSWER: An express written contract wherein the client
promises to pay the real estate broker a valuable consideration or agrees that the
real estate broker may receive a valuable consideration from another in
, consideration of the broker's producing a seller, buyer, tenant, or landlord ready,
able, and willing to sell, buy, or rent the property or in consideration of the broker's
performing property management services or performing community association
management services.
Commission - ANSWER: The Georgia Real Estate Commission
Commissioner - ANSWER: The real estate commissioner
Community association - ANSWER: An owner organization of a residential or mixed-
use common interest realty association in which membership is mandatory as an
incident of ownership within the development, such as condominiums, cooperatives,
homeowner associations, timeshares, lot division with restrictions in management,
and other forms of common interest or planned developments wherein there is a
common management.
Community association management services - ANSWER: The provision, for a
valuable consideration, to others of management or administrative services on, in, or
to the operation of the affairs of a community association, including, but not limited
to, collecting, controlling, or disbursing the funds; obtaining insurance, arranging for
and coordinating the maintenance to the association property; and otherwise
overseeing the day-to-day operations of the association.
Community association manager - ANSWER: A person who acts on behalf of a real
estate broker in providing only community association management services.
Firm - ANSWER: Any business entity, including, but not limited to, a corporation,
partnership, limited liability company, or sole proprietorship.
Licensee - ANSWER: Any person who is licensed as a community association
manager, salesperson, associate broker, or broker.
Ministerial acts - ANSWER: Those acts related to real estate brokerage activities,
which a licensee or a licensee's employee perform and which do not require
discretion or the exercise of the licensee's own judgment.
Person - ANSWER: Individuals and firms
Property management services - ANSWER: The provision, for a valuable
consideration, to another of marketing, including referring prospective tenants;
leasing; physical, administrative, or financial maintenance; and overall management
of real property; or supervision of the foregoing activities for another pursuant to a
property management agreement.
Purchaser - ANSWER: A person who acquired or attempts to acquire or succeeds to
an interest in land
2024/2025 | ACCURATE CURRENTLY TESTING REAL
EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Buyer's Market - ANSWER: A situation in the housing market when there are many
homes available for sale, but few buyers.
Cost of Money - ANSWER: The interest rate that people or businesses must pay to
use another's money for their own purposes.
Economic Base - ANSWER: The main business or industry in an area that supports
and sustains the community.
Inflation - ANSWER: An increase in the cost of goods or services or too many people
wanting too few goods.
Non-Homogeneity - ANSWER: A characteristic of real property; each piece of land,
each building, and each house is a unique piece of real estate. Also called
Uniqueness or Heterogeneity.
Real Estate Cycles - ANSWER: General swings in real estate activity, resulting in
increasing or decreasing activity and property values, during different phases of the
cycle.
Scarcity - ANSWER: A physical characteristic of real property that says there is a
limited supply of real estate; the perceived supply of a good or service relative to the
demand for the item.
Seller's Market - ANSWER: A situation in the housing market when a large number of
buyers are looking for houses in an area of limited availability.
Supply and Demand - ANSWER: An economic principle that says that for all products,
goods, and services when supply exceeds demand, prices will fall and when demand
exceeds supply, prices will rise.
Agency - ANSWER: Every relationship in which a real estate broker acts for or
represents another by the latter's express authority in a real property transaction.
Associate broker - ANSWER: A person who acts on behalf of a real estate broker in
performing any act authorized by this chapter of law to be performed by the broker.
Brokerage agreement - ANSWER: An express written contract wherein the client
promises to pay the real estate broker a valuable consideration or agrees that the
real estate broker may receive a valuable consideration from another in
, consideration of the broker's producing a seller, buyer, tenant, or landlord ready,
able, and willing to sell, buy, or rent the property or in consideration of the broker's
performing property management services or performing community association
management services.
Commission - ANSWER: The Georgia Real Estate Commission
Commissioner - ANSWER: The real estate commissioner
Community association - ANSWER: An owner organization of a residential or mixed-
use common interest realty association in which membership is mandatory as an
incident of ownership within the development, such as condominiums, cooperatives,
homeowner associations, timeshares, lot division with restrictions in management,
and other forms of common interest or planned developments wherein there is a
common management.
Community association management services - ANSWER: The provision, for a
valuable consideration, to others of management or administrative services on, in, or
to the operation of the affairs of a community association, including, but not limited
to, collecting, controlling, or disbursing the funds; obtaining insurance, arranging for
and coordinating the maintenance to the association property; and otherwise
overseeing the day-to-day operations of the association.
Community association manager - ANSWER: A person who acts on behalf of a real
estate broker in providing only community association management services.
Firm - ANSWER: Any business entity, including, but not limited to, a corporation,
partnership, limited liability company, or sole proprietorship.
Licensee - ANSWER: Any person who is licensed as a community association
manager, salesperson, associate broker, or broker.
Ministerial acts - ANSWER: Those acts related to real estate brokerage activities,
which a licensee or a licensee's employee perform and which do not require
discretion or the exercise of the licensee's own judgment.
Person - ANSWER: Individuals and firms
Property management services - ANSWER: The provision, for a valuable
consideration, to another of marketing, including referring prospective tenants;
leasing; physical, administrative, or financial maintenance; and overall management
of real property; or supervision of the foregoing activities for another pursuant to a
property management agreement.
Purchaser - ANSWER: A person who acquired or attempts to acquire or succeeds to
an interest in land
