Colibri Real Estate (Real Estate Express) Final Exam Review Questions and Answers

Colibri Real Estate (Real Estate Express) Final Exam Revie
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w/ Exam Questions with Correct Answers/ Rated A+
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Anytsalespersontcantlegallytreceivethertsharetoftthetcommissiontontatsaletfrom



A) hertemployingtbrokertonly.

B) anytcooperatingtbrokertwithtwhomtshetcompletestatsale.

C) atbuildertshetrepresentstintatsale

D) thetpurchasertoftthethometintatsuccessfultsale.t-tANSWERt-tA)thertemployingtbrokertonly.



WhichtoftthesetistNOTtconsideredtwhentdeterminingtwhethertantitemtistatfixturetortpersonaltproperty?



A) intentiontoftthetannexer

B) mannertoftannexation

C) valuetoftthetannexedtitem

D) relationshiptoftthetpartiest-tANSWERt-tC)tvaluetoftthetannexedtitem



RESPAtappliestto financedtbytatfederallytregulatedtloan.



A) anytcommercialtortresidentialtproperty

B) anytresidentialtproperty

C) one-ttotfour-familytresidences

D) onlytsingle-familytdwellingst-tANSWERt-tC)tone-ttotfour-familytresidences



pg.t1

,Oftthese,twhichtistLEASTtLIKELYttotbetconsideredtantexampletoftpuffing?



A) "liketbeingtontvacationteverytday"

B) "loveliesttstreettintthetwholettown"

C) "magnificenttchef-inspiredtkitchen"

D) "three-cartgaragetwithtroomtfortatworkshop"t-tANSWERt-tD)t"three-
cartgaragetwithtroomtfortatworkshop"



Friabletparticlestfromtasbestostaretmosttlikelyttotbetatdangerttotone'sthealthtwhenttheytare



A) encapsulated

B) inhaled

C) touched

D) wett-tANSWERt-tB)tinhaled



KimtistthettitletofficerthandlingtthettransfertoftGregtandtAshley'sthousettotbuyerstAlextandtAmanda.tAsttheyt
gathertattthetsettlementttable,tKimthaststackstoftdocumentstthattneedttotbetsignedtintorderttotcompletetth
ettransaction.tWhotsignstthetdeed?



A) AlextandtAmanda

B) GregtandtAshley

C) Greg,tAshley,tAlextandtAmanda

D) Greg,tAshleytandtKimt-tANSWERt-tB)tGregtandtAshley



Whichtistantexampletoftsteering?



A) atlicenseettellsthomeownertthatttheirtpropertytvaluestwilltdroptwhentatforeigntfamilytmovestin.

B) atmortgagetbankertrefusesttotmaketloanstfortatparticulartinner-citytneighborhood.

C) atpropertytmanagertsuggeststatprospectivettenanttwouldtbethappiertintatmoretdiversetbuilding.


pg.t2

,D) atsellerttellsthistlistingtagentttotfindtbuyertprospectstonlytoftatspecifictethnicity.t-tANSWERt-
tC)tatpropertytmanagertsuggeststatprospectivettenanttwouldtbethappiertintatmoretdiversetbuilding.




Lestertleasestatstorefronttforthistcandytbusiness.tThetrenttthetfirsttsixtmonthstwast$500tandtistsettto
increaset10%teverytmonthtfortthetnextt18tmonthstastbusinessttakestoff.tLesterthastwhattkindtoftlease?



A) graduatedtlease

B) groundtlease

C) indextlease

D) percentagetleaset-tANSWERt-tA)tgraduatedtlease

WhentDavetandtLucytgettmarried,ttheytdecidettotsellteachtofttheirthomestandtbuytonethousettogether.tLucy'st
housetsellstfort$700,000;tDave'sthousetsellstfort$300,000,tandtthey'retgoingttotbuytat$1tmillionthouse.tIftLucyt
wantstat70%tinteresttintthetnewthouse,twhattformtoftownershiptmustttheyttake?



A) jointttenancy

B) tenancytintcommon

C) tenancytbytthetentirety

D) tenancytintseveraltyt-tANSWERt-tB)ttenancytintcommon



Atpropertytistlistedtfort$200,000.tThetbrokertgetstantoffertfromtGinatfort$150,000tcashtwithtatclosingtint90t
days,tonetfromtTimtatt$155,000,tsubjectttotthetbuyertgettingtatfirsttmortgagetfort$130,000,tantoffertfromtS
haritatt$190,000tsubjectttotthetownerttakingtbacktatpurchasetmoneytmortgagetwithtclosingtint30tdays.tThet
brokertshouldtdisclosetwhichtoffer(s)?



A) alltoftthetoffers

B) nonetoftthetoffers,tasttheytaretalltbelowtthetaskingtprice

C) onlytthetfirsttoffertuntiltthetsellertmakestatdecisionttotaccepttortreject,tthentpresenttthetnexttoffer

D) whichevertoffertistthethighesttandthastthetmosttfavorablettermsttotthetsellert-tANSWERt-
tA)talltoftthetoffers




BrokertJanethastbeentaccusedtoftatlawtviolationtregardingtcommissions.tWhichtoftthetfollowingtmighttresulttin
thertbeingtfoundtguilty?




pg.t3

, A) Janetpaidtatcommissionttothertlicensedtpersonaltassistant.

B) Janetpaidtatcommissionttotthetwifetoftonetofthertlicenseestwhotwastrecentlytkilledtintantautotacc
ident.tThetdeceasedtlicenseethadtearnedtthetcommissiontpriorttothistdeath.

C) Janetpaidtatcommissiontplustatbonusttotonetofthertlicensees.

D) JanetpaidtatcommissionttotatFloridatlicenseetwhotistnottlicensedtintGeorgiatfortlicensingtactivitytintGeo
rgia.t-tANSWERt-
tD)tJanetpaidtatcommissionttotatFloridatlicenseetwhotistnottlicensedtintGeorgiatfortlicensingtactivitytintGeo

rgia.



WhichtoftthetfollowingtistNOTtatprotectedtclasstundertGeorgiatfairthousingtlaw?



A) Sexualtpreference

B) Familialtstatus

C) Religion

D) Racet-tANSWERt-tA)tSexualtpreference



Syedtistantinactivetlicensee.tHetjusttmovedttotatnewthometacrossttown.tWhattmustthetdo?



A) CalltthetCommissiontandtgivetitthistnewtaddress.

B) Reporttthetaddresstchangetwhenthe'streadyttotreactivatethistlicense.

C) SendtatwrittentnoticettotthetCommissiontwithint30tdays.

D) NotifytthetposttofficettotsendtatchangetoftaddresstnoticettotthetCommission.t-tANSWERt-
tC)tSendtatwrittentnoticettotthetCommissiontwithint30tdays.




Howtmanythourstoftcontinuingteducationtmusttatlicenseetcompletetforteachtyeartoftlicensure?



A) 8thours

B) 9thours

C) 5thours

D) 4thourst-tANSWERt-tB)t9thours



pg.t4