pg. 1
COLIBRI REAL ESTATE (REAL ESTATE EXPRESS)
FINAL EXAM
REVIEW/VERIFIED ANSWERS 2025
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
D) only single-family dwellings - ANSWER - C) one- to four-family residences
pg. 2
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?
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.
pg. 3
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
B) none of the offers, as they are all below the asking price
C) only the first offer until the seller makes a decision to accept or reject, then
present the next offer
D) whichever offer is the highest and has the most favorable terms to the seller -
ANSWER - A) all of the
offers
pg. 4
Broker Jane has been accused of a law violation regarding commissions. Which of
the following might
,result in her being found guilty?
A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was recently killed
in an auto
accident. The deceased licensee had earned the commission prior to his death. C)
Jane paid a
commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for
licensing activity in
Georgia. - ANSWER - D) Jane paid a commission to a Florida licensee who is not
licensed in Georgia for
licensing activity in Georgia.
Which of the following is NOT a protected class under Georgia fair housing law?
A) Sexual preference
B) Familial status
C) Religion
D) Race - ANSWER - A) Sexual preference
Syed is an inactive licensee. He just moved to a new home across town. What must
he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the Commission. -
ANSWER - C) Send a
written notice to the Commission within 30 days.
How many hours of continuing education must a licensee complete for each year of
licensure?
A) 8 hours
B) 9 hours
C) 5 hours
pg. 5
D) 4 hours - ANSWER - B) 9 hours
Glenda is the office manager for a local real estate firm. She is responsible for
coordinating the
paperwork flow through the office, preparing ads and supervising the clerical staff.
Glenda is
A) required to have a salesperson's license.
B) violating license law.
C) required to have a broker license.
D) exempt from the license law. - ANSWER - D) exempt from the license law.
Haru is working with his buyers to draw up a written offer on a property they want
to purchase. Which of
the following items is not required in the offer?
A) The property description
B) The mortgage lender
C) The method of payment
D) Special stipulations the offer requires - ANSWER - B) The mortgage lender
, Kezia just bought and closed on a new home that cost $195,000. her mortgage
amount is $165,500. how
much is the intangible recording tax on Kezia's property?
A) $585
B) $195
C) $165.50
D) $496.50 - ANSWER - D) $496.50
*An intangible recording tax is due and payable on each instrument securing one or
more long-term
notes at the rate of $1.50 per each $500
$165,500 ÷ $500 = 331
331 x $1.50 = $496.50
pg. 6
Salesperson Gordon refuse to accept an offer to purchase his home from buyer Juan
Valdez of Columbia
because Gordon feels the earnest money of $100 is not enough. Which of the
following statements
about Gordon's refusal is correct?
A) Gordon is in violation of fair housing law because he discriminated on the basis of
national origin.
B) Since Gordon refused on the basis of the earnest money, he is not in violation of
fair housing law.
C) Gordon is in violation of civil rights law because he discriminated on the basis of
race.
D) Gordon is guilty of redlining - ANSWER - B) Since Gordon refused on the basis of
the earnest money,
he is not in violation of fair housing law.
Baxter lists his property through Murray, a licensee at ABC Realty. Murray's broker
charges 6.5%
commission, offering a 40% split to a cooperating broker. Murray gets 45% of what
ABC earns. The house
sells for $462,000. how much does Murray make (round to the nearest dollar)?
A) $8,108
B) $8,316
C) $9,910
D) $12,012 - ANSWER - A) $8,108
$462,000 x 0.65 = $30,030 total commission
$30,030 x .60 = $18,018
$18,018 x .45 = $8,108
Matthew lives in a house on the shores of Lake Erie. He has ________ rights, which
means that he
________ the land under the water.
A) littoral / does own
B) riparian / does own
C) littoral / does not own
pg. 7
D) riparian / does not own - ANSWER - D) riparian / does not own
COLIBRI REAL ESTATE (REAL ESTATE EXPRESS)
FINAL EXAM
REVIEW/VERIFIED ANSWERS 2025
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
D) only single-family dwellings - ANSWER - C) one- to four-family residences
pg. 2
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?
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.
pg. 3
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
B) none of the offers, as they are all below the asking price
C) only the first offer until the seller makes a decision to accept or reject, then
present the next offer
D) whichever offer is the highest and has the most favorable terms to the seller -
ANSWER - A) all of the
offers
pg. 4
Broker Jane has been accused of a law violation regarding commissions. Which of
the following might
,result in her being found guilty?
A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was recently killed
in an auto
accident. The deceased licensee had earned the commission prior to his death. C)
Jane paid a
commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for
licensing activity in
Georgia. - ANSWER - D) Jane paid a commission to a Florida licensee who is not
licensed in Georgia for
licensing activity in Georgia.
Which of the following is NOT a protected class under Georgia fair housing law?
A) Sexual preference
B) Familial status
C) Religion
D) Race - ANSWER - A) Sexual preference
Syed is an inactive licensee. He just moved to a new home across town. What must
he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the Commission. -
ANSWER - C) Send a
written notice to the Commission within 30 days.
How many hours of continuing education must a licensee complete for each year of
licensure?
A) 8 hours
B) 9 hours
C) 5 hours
pg. 5
D) 4 hours - ANSWER - B) 9 hours
Glenda is the office manager for a local real estate firm. She is responsible for
coordinating the
paperwork flow through the office, preparing ads and supervising the clerical staff.
Glenda is
A) required to have a salesperson's license.
B) violating license law.
C) required to have a broker license.
D) exempt from the license law. - ANSWER - D) exempt from the license law.
Haru is working with his buyers to draw up a written offer on a property they want
to purchase. Which of
the following items is not required in the offer?
A) The property description
B) The mortgage lender
C) The method of payment
D) Special stipulations the offer requires - ANSWER - B) The mortgage lender
, Kezia just bought and closed on a new home that cost $195,000. her mortgage
amount is $165,500. how
much is the intangible recording tax on Kezia's property?
A) $585
B) $195
C) $165.50
D) $496.50 - ANSWER - D) $496.50
*An intangible recording tax is due and payable on each instrument securing one or
more long-term
notes at the rate of $1.50 per each $500
$165,500 ÷ $500 = 331
331 x $1.50 = $496.50
pg. 6
Salesperson Gordon refuse to accept an offer to purchase his home from buyer Juan
Valdez of Columbia
because Gordon feels the earnest money of $100 is not enough. Which of the
following statements
about Gordon's refusal is correct?
A) Gordon is in violation of fair housing law because he discriminated on the basis of
national origin.
B) Since Gordon refused on the basis of the earnest money, he is not in violation of
fair housing law.
C) Gordon is in violation of civil rights law because he discriminated on the basis of
race.
D) Gordon is guilty of redlining - ANSWER - B) Since Gordon refused on the basis of
the earnest money,
he is not in violation of fair housing law.
Baxter lists his property through Murray, a licensee at ABC Realty. Murray's broker
charges 6.5%
commission, offering a 40% split to a cooperating broker. Murray gets 45% of what
ABC earns. The house
sells for $462,000. how much does Murray make (round to the nearest dollar)?
A) $8,108
B) $8,316
C) $9,910
D) $12,012 - ANSWER - A) $8,108
$462,000 x 0.65 = $30,030 total commission
$30,030 x .60 = $18,018
$18,018 x .45 = $8,108
Matthew lives in a house on the shores of Lake Erie. He has ________ rights, which
means that he
________ the land under the water.
A) littoral / does own
B) riparian / does own
C) littoral / does not own
pg. 7
D) riparian / does not own - ANSWER - D) riparian / does not own
