COLIBRI SCHOOL EXAM NJ LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |AGRADE
In a real estate transaction the principal would BEST be described as the -(answer)Person represented
by an agent
Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like
to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit
this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she'll
loose interest in the house. Bert has committed -(answer)Actual fraud
Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming no
discriminatory advertising is used and a licensee is not involved? -(answer)Barb is an owner-occupant of
a duplex who will lease the other unit only to a white woman
Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a new
subdivision. While the loan is outstanding, who holds the title to Danita property? -(answer)A trustee
Which of these phrases would LEAST likely be evidence of a conspiracy to commit an antitrust violation
if said by a licensee? -(answer)"We would like to suggest that you use Ace Title Agency for the closing."
Which lease tenancy is engaged in by a holdover tenant? -(answer)tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. -(answer)one- to four-family
residences.
An acceleration clause in a mortgage allows the lender to -(answer)Declare the loan due if the buyer
defaults
ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |AGRADE
In a real estate transaction the principal would BEST be described as the -(answer)Person represented
by an agent
Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like
to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit
this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she'll
loose interest in the house. Bert has committed -(answer)Actual fraud
Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming no
discriminatory advertising is used and a licensee is not involved? -(answer)Barb is an owner-occupant of
a duplex who will lease the other unit only to a white woman
Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a new
subdivision. While the loan is outstanding, who holds the title to Danita property? -(answer)A trustee
Which of these phrases would LEAST likely be evidence of a conspiracy to commit an antitrust violation
if said by a licensee? -(answer)"We would like to suggest that you use Ace Title Agency for the closing."
Which lease tenancy is engaged in by a holdover tenant? -(answer)tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. -(answer)one- to four-family
residences.
An acceleration clause in a mortgage allows the lender to -(answer)Declare the loan due if the buyer
defaults
