colibri real estate practice
Which of the following is NOT a condition of the safe harbor test? - CORRECT
ANSWER-Gross income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
CORRECT ANSWER-Commercial
All of the following are true statements about goals except which one? - CORRECT
ANSWER-Once you set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these
activities does she have control over? - CORRECT ANSWER-What percent of
commission the licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not
allowed to do? - CORRECT ANSWER-Deposit into the brokerage business account.
Which of the following would be an example of a licensee specializing in business type?
- CORRECT ANSWER-Jim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - CORRECT ANSWER-A broker is not
responsible for the acts of independent contractors.
Which of these statements is true? - CORRECT ANSWER-Salespersons must perform
all of their activities on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker
John? - CORRECT ANSWER-John expects his agents to spend 5 hours a week on
unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - CORRECT
ANSWER-CAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - CORRECT ANSWER-Type of property
, A person who believes he or she has been discriminated against has how long from the
time of the alleged violation to file a suit in a state or federal court? - CORRECT
ANSWER-24 months
If a person believes he or she has been discriminated against, how long does he or she
have to file a HUD complaint? - CORRECT ANSWER-1 year
Which California Fair Housing law provides protection from discrimination by business
establishments? - CORRECT ANSWER-Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the
neighborhood. This broker is guilty of what prohibited activity? - CORRECT ANSWER-
Panic selling
Which of the following is not a source of information for professional ethics codes? -
CORRECT ANSWER-Real estate schools
How long must trust account records be kept? - CORRECT ANSWER-3 years
Which is not a true statement about the Americans with Disabilities Act? - CORRECT
ANSWER-A duplex owner might need to remodel the kitchen in the rental unit to
accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - CORRECT
ANSWER-Housing and Community Development Act
Which of these is not an exemption to fair housing law? - CORRECT ANSWER-The
sale of a single-family home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after
signing the purchase contract? - CORRECT ANSWER-7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests
-- both what Paul knows and what he "should have known." Which of these situations
would not be something Paul "should know"? - CORRECT ANSWER-The owner of the
property is HIV positive.
The principles of an agency relationship include all of these factors except which one? -
CORRECT ANSWER-Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? -
CORRECT ANSWER-Blind obedience
Which disclosure form gives detailed information about the property's condition? -
CORRECT ANSWER-Real Estate Transfer Disclosure Statement
Which of the following is NOT a condition of the safe harbor test? - CORRECT
ANSWER-Gross income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
CORRECT ANSWER-Commercial
All of the following are true statements about goals except which one? - CORRECT
ANSWER-Once you set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these
activities does she have control over? - CORRECT ANSWER-What percent of
commission the licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not
allowed to do? - CORRECT ANSWER-Deposit into the brokerage business account.
Which of the following would be an example of a licensee specializing in business type?
- CORRECT ANSWER-Jim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - CORRECT ANSWER-A broker is not
responsible for the acts of independent contractors.
Which of these statements is true? - CORRECT ANSWER-Salespersons must perform
all of their activities on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker
John? - CORRECT ANSWER-John expects his agents to spend 5 hours a week on
unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - CORRECT
ANSWER-CAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - CORRECT ANSWER-Type of property
, A person who believes he or she has been discriminated against has how long from the
time of the alleged violation to file a suit in a state or federal court? - CORRECT
ANSWER-24 months
If a person believes he or she has been discriminated against, how long does he or she
have to file a HUD complaint? - CORRECT ANSWER-1 year
Which California Fair Housing law provides protection from discrimination by business
establishments? - CORRECT ANSWER-Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the
neighborhood. This broker is guilty of what prohibited activity? - CORRECT ANSWER-
Panic selling
Which of the following is not a source of information for professional ethics codes? -
CORRECT ANSWER-Real estate schools
How long must trust account records be kept? - CORRECT ANSWER-3 years
Which is not a true statement about the Americans with Disabilities Act? - CORRECT
ANSWER-A duplex owner might need to remodel the kitchen in the rental unit to
accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - CORRECT
ANSWER-Housing and Community Development Act
Which of these is not an exemption to fair housing law? - CORRECT ANSWER-The
sale of a single-family home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after
signing the purchase contract? - CORRECT ANSWER-7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests
-- both what Paul knows and what he "should have known." Which of these situations
would not be something Paul "should know"? - CORRECT ANSWER-The owner of the
property is HIV positive.
The principles of an agency relationship include all of these factors except which one? -
CORRECT ANSWER-Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? -
CORRECT ANSWER-Blind obedience
Which disclosure form gives detailed information about the property's condition? -
CORRECT ANSWER-Real Estate Transfer Disclosure Statement
