Colibri Real Estate (Real Estate Express) Final Exam
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Review/ Exam Questions with Correct Answers/ Rated A+
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Anygsalespersongcanglegallygreceiveghergsharegofgthegcommissiongongagsalegfrom
A) hergemployinggbrokergonly.
B) anygcooperatinggbrokergwithgwhomgshegcompletesgagsale.
C) agbuildergshegrepresentsgingagsale
D) thegpurchasergofgtheghomegingagsuccessfulgsale.g-gANSWERg-gA)ghergemployinggbrokergonly.
WhichgofgthesegisgNOTgconsideredgwhengdetermininggwhethergangitemgisgagfixturegorgpersonalgproperty?
A) intentiongofgthegannexer
B) mannergofgannexation
C) valuegofgthegannexedgitem
D) relationshipgofgthegpartiesg-gANSWERg-gC)gvaluegofgthegannexedgitem
RESPAgappliesgtog financedgbygagfederallygregulatedgloan.
A) anygcommercialgorgresidentialgproperty
B) anygresidentialgproperty
C) one-gtogfour-familygresidences
D) onlygsingle-familygdwellingsg-gANSWERg-gC)gone-gtogfour-familygresidences
pg.g1
,Ofgthese,gwhichgisgLEASTgLIKELYgtogbegconsideredgangexamplegofgpuffing?
A) "likegbeinggongvacationgeverygday"
B) "loveliestgstreetgingthegwholegtown"
C) "magnificentg chef-inspiredg kitchen"
D) "three-carggaragegwithgroomgforgagworkshop"g-gANSWERg-gD)g"three-
carggaragegwithgroomgforgagworkshop"
Friablegparticlesgfromgasbestosgaregmostglikelygtogbegagdangergtogone'sghealthgwhengtheygare
A) encapsulated
B) inhaled
C) touched
D) wetg-gANSWERg-gB)ginhaled
KimgisgthegtitlegofficerghandlinggthegtransfergofgGreggandgAshley'sghousegtogbuyersgAlexgandgAmanda.gA
sgtheyggathergatgthegsettlementgtable,gKimghasgstacksgofgdocumentsgthatgneedgtogbegsignedgingordergt
ogcompletegthegtransaction.gWhogsignsgthegdeed?
A) AlexgandgAmanda
B) GreggandgAshley
C) Greg,gAshley,gAlexgandgAmanda
D) Greg,gAshleygandgKimg-gANSWERg-gB)gGreggandgAshley
Whichgisgangexamplegofgsteering?
A) aglicenseegtellsghomeownergthatgtheirgpropertygvaluesgwillgdropgwhengagforeigngfamilygmovesgin.
B) agmortgagegbankergrefusesgtogmakegloansgforgagparticularginner-citygneighborhood.
C) agpropertygmanagergsuggestsgagprospectivegtenantgwouldgbeghappiergingagmoregdiversegbuilding.
pg.g2
,D) agsellergtellsghisglistinggagentgtogfindgbuyergprospectsgonlygofgagspecificgethnicity.g-gANSWERg-
gC)gagpropertygmanagergsuggestsgagprospectivegtenantgwouldgbeghappiergingagmoregdiversegbuil
ding.
Lestergleasesgagstorefrontgforghisgcandygbusiness.gThegrentgthegfirstgsixgmonthsgwasg$500gandgisgsetgtog
increaseg10%geverygmonthgforgthegnextg18gmonthsgasgbusinessgtakesgoff.gLesterghasgwhatgkindgofglease
?
A) graduatedglease
B) groundglease
C) indexglease
D) percentagegleaseg-gANSWERg-gA)ggraduatedglease
WhengDavegandgLucyggetgmarried,gtheygdecidegtogsellgeachgofgtheirghomesgandgbuygoneghousegtogethe
r.gLucy'sghousegsellsgforg$700,000;gDave'sghousegsellsgforg$300,000,gandgthey'reggoinggtogbuygag$1gmilli
onghouse.gIfgLucygwantsgag70%ginterestgingthegnewghouse,gwhatgformgofgownershipgmustgtheygtake?
A) jointgtenancy
B) tenancygingcommon
C) tenancygbygthegentirety
D) tenancygingseveraltyg-gANSWERg-gB)gtenancygingcommon
Agpropertygisglistedgforg$200,000.gThegbrokerggetsgangoffergfromgGinagforg$150,000gcashgwithgagclosin
gging90gdays,gonegfromgTimgatg$155,000,gsubjectgtogthegbuyerggettinggagfirstgmortgagegforg$130,000,g
angoffergfromgSharigatg$190,000gsubjectgtogthegownergtakinggbackgagpurchasegmoneygmortgagegwithgc
losingging30gdays.gThegbrokergshouldgdisclosegwhichgoffer(s)?
A) allgofgthegoffers
B) nonegofgthegoffers,gasgtheygaregallgbelowgthegaskinggprice
C) onlygthegfirstgofferguntilgthegsellergmakesgagdecisiongtogacceptgorgreject,gthengpresentgthegnextgoffer
D) whichevergoffergisgtheghighestgandghasgthegmostgfavorablegtermsgtogthegsellerg-gANSWERg-
gA)gallgofgthegoffers
BrokergJaneghasgbeengaccusedgofgaglawgviolationgregardinggcommissions.gWhichgofgthegfollowinggmightg
resultginghergbeinggfoundgguilty?
pg.g3
, A) Janegpaidgagcommissiongtogherglicensedgpersonalgassistant.
B) Janegpaidgagcommissiongtogthegwifegofgonegofgherglicenseesgwhogwasgrecentlygkilledginganga
utogaccident.gThegdeceasedglicenseeghadgearnedgthegcommissiongpriorgtoghisgdeath.
C) Janegpaidgagcommissiongplusgagbonusgtogonegofgherglicensees.
D) JanegpaidgagcommissiongtogagFloridaglicenseegwhogisgnotglicensedgingGeorgiagforglicensinggactivityg
ingGeorgia.g-gANSWERg-
gD)gJanegpaidgagcommissiongtogagFloridaglicenseegwhogisgnotglicensedgingGeorgiagforglicensinggactivityg
ingGeorgia.
WhichgofgthegfollowinggisgNOTgagprotectedgclassgundergGeorgiagfairghousingglaw?
A) Sexualgpreference
B) Familialgstatus
C) Religion
D) Raceg-gANSWERg-gA)gSexualgpreference
Syedgisganginactiveglicensee.gHegjustgmovedgtogagnewghomegacrossgtown.gWhatgmustghegdo?
A) CallgthegCommissiongandggivegitghisgnewgaddress.
B) Reportgthegaddressgchangegwhenghe'sgreadygtogreactivateghisglicense.
C) SendgagwrittengnoticegtogthegCommissiongwithing30gdays.
D) NotifygthegpostgofficegtogsendgagchangegofgaddressgnoticegtogthegCommission.g-gANSWERg-
gC)gSendgagwrittengnoticegtogthegCommissiongwithing30gdays.
Howgmanyghoursgofgcontinuinggeducationgmustgaglicenseegcompletegforgeachgyeargofglicensure?
A) 8ghours
B) 9ghours
C) 5ghours
D) 4ghoursg-gANSWERg-gB)g9ghours
pg.g4
g g g g g g g
Review/ Exam Questions with Correct Answers/ Rated A+
g g g g g g g
Anygsalespersongcanglegallygreceiveghergsharegofgthegcommissiongongagsalegfrom
A) hergemployinggbrokergonly.
B) anygcooperatinggbrokergwithgwhomgshegcompletesgagsale.
C) agbuildergshegrepresentsgingagsale
D) thegpurchasergofgtheghomegingagsuccessfulgsale.g-gANSWERg-gA)ghergemployinggbrokergonly.
WhichgofgthesegisgNOTgconsideredgwhengdetermininggwhethergangitemgisgagfixturegorgpersonalgproperty?
A) intentiongofgthegannexer
B) mannergofgannexation
C) valuegofgthegannexedgitem
D) relationshipgofgthegpartiesg-gANSWERg-gC)gvaluegofgthegannexedgitem
RESPAgappliesgtog financedgbygagfederallygregulatedgloan.
A) anygcommercialgorgresidentialgproperty
B) anygresidentialgproperty
C) one-gtogfour-familygresidences
D) onlygsingle-familygdwellingsg-gANSWERg-gC)gone-gtogfour-familygresidences
pg.g1
,Ofgthese,gwhichgisgLEASTgLIKELYgtogbegconsideredgangexamplegofgpuffing?
A) "likegbeinggongvacationgeverygday"
B) "loveliestgstreetgingthegwholegtown"
C) "magnificentg chef-inspiredg kitchen"
D) "three-carggaragegwithgroomgforgagworkshop"g-gANSWERg-gD)g"three-
carggaragegwithgroomgforgagworkshop"
Friablegparticlesgfromgasbestosgaregmostglikelygtogbegagdangergtogone'sghealthgwhengtheygare
A) encapsulated
B) inhaled
C) touched
D) wetg-gANSWERg-gB)ginhaled
KimgisgthegtitlegofficerghandlinggthegtransfergofgGreggandgAshley'sghousegtogbuyersgAlexgandgAmanda.gA
sgtheyggathergatgthegsettlementgtable,gKimghasgstacksgofgdocumentsgthatgneedgtogbegsignedgingordergt
ogcompletegthegtransaction.gWhogsignsgthegdeed?
A) AlexgandgAmanda
B) GreggandgAshley
C) Greg,gAshley,gAlexgandgAmanda
D) Greg,gAshleygandgKimg-gANSWERg-gB)gGreggandgAshley
Whichgisgangexamplegofgsteering?
A) aglicenseegtellsghomeownergthatgtheirgpropertygvaluesgwillgdropgwhengagforeigngfamilygmovesgin.
B) agmortgagegbankergrefusesgtogmakegloansgforgagparticularginner-citygneighborhood.
C) agpropertygmanagergsuggestsgagprospectivegtenantgwouldgbeghappiergingagmoregdiversegbuilding.
pg.g2
,D) agsellergtellsghisglistinggagentgtogfindgbuyergprospectsgonlygofgagspecificgethnicity.g-gANSWERg-
gC)gagpropertygmanagergsuggestsgagprospectivegtenantgwouldgbeghappiergingagmoregdiversegbuil
ding.
Lestergleasesgagstorefrontgforghisgcandygbusiness.gThegrentgthegfirstgsixgmonthsgwasg$500gandgisgsetgtog
increaseg10%geverygmonthgforgthegnextg18gmonthsgasgbusinessgtakesgoff.gLesterghasgwhatgkindgofglease
?
A) graduatedglease
B) groundglease
C) indexglease
D) percentagegleaseg-gANSWERg-gA)ggraduatedglease
WhengDavegandgLucyggetgmarried,gtheygdecidegtogsellgeachgofgtheirghomesgandgbuygoneghousegtogethe
r.gLucy'sghousegsellsgforg$700,000;gDave'sghousegsellsgforg$300,000,gandgthey'reggoinggtogbuygag$1gmilli
onghouse.gIfgLucygwantsgag70%ginterestgingthegnewghouse,gwhatgformgofgownershipgmustgtheygtake?
A) jointgtenancy
B) tenancygingcommon
C) tenancygbygthegentirety
D) tenancygingseveraltyg-gANSWERg-gB)gtenancygingcommon
Agpropertygisglistedgforg$200,000.gThegbrokerggetsgangoffergfromgGinagforg$150,000gcashgwithgagclosin
gging90gdays,gonegfromgTimgatg$155,000,gsubjectgtogthegbuyerggettinggagfirstgmortgagegforg$130,000,g
angoffergfromgSharigatg$190,000gsubjectgtogthegownergtakinggbackgagpurchasegmoneygmortgagegwithgc
losingging30gdays.gThegbrokergshouldgdisclosegwhichgoffer(s)?
A) allgofgthegoffers
B) nonegofgthegoffers,gasgtheygaregallgbelowgthegaskinggprice
C) onlygthegfirstgofferguntilgthegsellergmakesgagdecisiongtogacceptgorgreject,gthengpresentgthegnextgoffer
D) whichevergoffergisgtheghighestgandghasgthegmostgfavorablegtermsgtogthegsellerg-gANSWERg-
gA)gallgofgthegoffers
BrokergJaneghasgbeengaccusedgofgaglawgviolationgregardinggcommissions.gWhichgofgthegfollowinggmightg
resultginghergbeinggfoundgguilty?
pg.g3
, A) Janegpaidgagcommissiongtogherglicensedgpersonalgassistant.
B) Janegpaidgagcommissiongtogthegwifegofgonegofgherglicenseesgwhogwasgrecentlygkilledginganga
utogaccident.gThegdeceasedglicenseeghadgearnedgthegcommissiongpriorgtoghisgdeath.
C) Janegpaidgagcommissiongplusgagbonusgtogonegofgherglicensees.
D) JanegpaidgagcommissiongtogagFloridaglicenseegwhogisgnotglicensedgingGeorgiagforglicensinggactivityg
ingGeorgia.g-gANSWERg-
gD)gJanegpaidgagcommissiongtogagFloridaglicenseegwhogisgnotglicensedgingGeorgiagforglicensinggactivityg
ingGeorgia.
WhichgofgthegfollowinggisgNOTgagprotectedgclassgundergGeorgiagfairghousingglaw?
A) Sexualgpreference
B) Familialgstatus
C) Religion
D) Raceg-gANSWERg-gA)gSexualgpreference
Syedgisganginactiveglicensee.gHegjustgmovedgtogagnewghomegacrossgtown.gWhatgmustghegdo?
A) CallgthegCommissiongandggivegitghisgnewgaddress.
B) Reportgthegaddressgchangegwhenghe'sgreadygtogreactivateghisglicense.
C) SendgagwrittengnoticegtogthegCommissiongwithing30gdays.
D) NotifygthegpostgofficegtogsendgagchangegofgaddressgnoticegtogthegCommission.g-gANSWERg-
gC)gSendgagwrittengnoticegtogthegCommissiongwithing30gdays.
Howgmanyghoursgofgcontinuinggeducationgmustgaglicenseegcompletegforgeachgyeargofglicensure?
A) 8ghours
B) 9ghours
C) 5ghours
D) 4ghoursg-gANSWERg-gB)g9ghours
pg.g4
