Colibri Real Estate Practice Final Exam Questions And Answers

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Colibri Real Estate Practice Final Exam /2023 - u u u u u u u



2024 /100 Questions And Answers Download To Pass!!!
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Quiz :Why is the condition of bearing walls more important than non bearing walls
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? - Answer :Bearing walls support the ceiling and the roof.
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Quiz :Owner Tom decided to lease out his basement to a college student. By leasin
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g the basement, Tom has - Answer :transferred a portion of his bundle of rights
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Quiz :What is a forecast of income and expenses that can be projected over five ye
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ars? - Answer :Stabilized budget
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Quiz :A buyer told broker Lena that she wants to move to Cuban neighborhood. Th
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en the buyer asked if Lena could show her the best home in a Cuban area. How sho
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uld Lena respond to this request? -
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Answer :Lena should explain to the buyer that she ethically and legally cannot rec
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ommend housing based on national origin.
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uQuiz :Which of the following wills may be considered invalid? -
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Answer :A will that is not signed.
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Quiz :Broker Torrey hires salesperson Wes as an independent contractor. As an ind
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ependent contractor, Wes can expect which of the following from Broker Torrey? -
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Answer :Performance Expectations
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Quiz :Which of the following statements best describes what happens with a judici
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al foreclosure? -
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Answer :The mortgaged property is sold under the supervision of a court.
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Quiz :Which of the following best describes the principle of conformity? -
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Answer :A home maintains its highest value by being in a neighborhood with simil
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ar-type housing. u




uQuiz :The cost of doing direct mail advertising depends on -
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Answer :The frequency of the mailings
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Quiz :A type of mortgage which allows the lender to increase the outstanding bala
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nce of a loan up to the original amount of the loan in order to advance additional fu
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nds is called an - Answer :open-end mortgage
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Quiz :Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a
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$8,000 mechanic's lien and a $25,000 judgement lien, which will be paid off first aft
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er a foreclosure sale? - Answer :The $2,500 property tax lien
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Quiz :On a $280,000 loan, the lender charges a 2 point service charge. How much d
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oes the borrower have to pay for just these two points? - Answer :$5,600
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Quiz :A seller decided to back out of a sales contract for no good reason. What rec
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ourse does the buyer have? - Answer :To sue for specific performance.
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uQuiz :What are the primary advantages of PEX piping? -
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Answer :PEX piping is able to withstand both high and low temperatures and it is h
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ighly resistant to chemicals.
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Quiz :How does Planned Unit Development zoning differ from ordinary zoning? -
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Answer :I requires that multiple tracts of land be developed according to a single d
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esign for efficient use of space.
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Quiz :Home Hoarding Realty is advertising to the public that their managing broker
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has been in the business 37 years and has sold over 1,250 homes. This is an exampl
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e of - Answer :institutional advertising
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uQuiz :Which of the following would qualify as an example of retail property? -
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Answer :A shopping center
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Quiz :Neal's home has been foreclosed on and sold at a Sheriff's sale. The sale brou
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ght in $500,000 and the total liabilities on the home were $425,000. Who receives t
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he additional $75,000? - Answer :Neal
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Quiz :Broker Jon is attaching a rider strip to a For Sale sign. What information is mo
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st likely on this rider strip? - Answer :Jon's cell phone number
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