Real Estate Colibri Practice Exam
Questions With Well And 100%
Verified Answers Download With
Guaranteed Pass!!
1. Which item below can help protect against a home with a listed incorrect
street address or legal description in public records? - CORRECT ANSWER-
Standard coverage title insurance policy and extended coverage title
insurance policy
2. Robert owns his property and enjoys the full bundle of rights. Can he use
his property as collateral for debt? - CORRECT ANSWER-Yes. Robert can
encumber his property
3. Which location is an industrial coal plant least likely to be located? -
CORRECT ANSWER-Adjacent to an elementary school
4. What is the least likely answer needed in a "legal consent" scenario? -
CORRECT ANSWER-Contract
5. What is the name used to describe the fact that a client must have
consent, free will, and act without duress when entering a contract or
business relationship? - CORRECT ANSWER-Legal Consent
,6. Mortgage lenders are required to disclose financing costs and annual
percentage rate to the borrower under which law or regulation? -
CORRECT ANSWER-Truth in Lending
7. Earl orally agreed to an 18-month lease with landlord Blake. Is this
contract enforceable? - CORRECT ANSWER-No, all leases for longer than
one year must be in writing to be enforceable
8. Jessica can only afford a 7% down payment on her new cottage. What will
she be required to purchase at closing? - CORRECT ANSWER-Private
Mortgage Insurance
9. What happens if the Grievance Committee finds that there is a potential
ethics violation and that the complaint has been appropriately filed? -
CORRECT ANSWER-The complaint is forwarded to a hearing panel of the
Professional Standards Committee
10.Listing agents must present ________. - CORRECT ANSWER-All formal and
informal offers
11.Which of the following principles are included in the Preamble to the
Code of Ethics? - CORRECT ANSWER-Honesty and Integrity, Fairness, and
Moral conduct in business relations
12.What type of agency cannot be revoked by the principal, nor is terminated
if the principal dies? - CORRECT ANSWER-Agency coupled with an interest
, 13.Who can train office staff at a brokerage firm in weekly meetings? -
CORRECT ANSWER-Principal Broker, associate brokers, and outside social
media marketers
14.What is the minimum earnest money deposit that a Buyer can offer to
purchase a listed home? - CORRECT ANSWER-Zero dollars
15.Which action does an escrow officer typically work on in a home sale
transaction? - CORRECT ANSWER-Collects earnest money deposits, orders
title insurance, and gathers third party inspection reports
16.What was the original name of the National Association of REALTORS®
when it was first founded? - CORRECT ANSWER-The National Association
of Real Estate Exchanges
17.What is "one click away" as it relates to the real estate profession? -
CORRECT ANSWER-When a viewer online can find the agent's contact
information with just one click of the mouse, smartphone, or keyboard
18.A broker who spends their client's $10,000 earnest money deposit on
their office's monthly expenses such as rent, utilities, and has engaged in
the act of what? - CORRECT ANSWER-Conversion and Criminal Fraud
19.Broker Joy just signed a listing agreement with a seller. When should Joy
schedule an office tour? - CORRECT ANSWER-Within a week after the
listing is taken
Questions With Well And 100%
Verified Answers Download With
Guaranteed Pass!!
1. Which item below can help protect against a home with a listed incorrect
street address or legal description in public records? - CORRECT ANSWER-
Standard coverage title insurance policy and extended coverage title
insurance policy
2. Robert owns his property and enjoys the full bundle of rights. Can he use
his property as collateral for debt? - CORRECT ANSWER-Yes. Robert can
encumber his property
3. Which location is an industrial coal plant least likely to be located? -
CORRECT ANSWER-Adjacent to an elementary school
4. What is the least likely answer needed in a "legal consent" scenario? -
CORRECT ANSWER-Contract
5. What is the name used to describe the fact that a client must have
consent, free will, and act without duress when entering a contract or
business relationship? - CORRECT ANSWER-Legal Consent
,6. Mortgage lenders are required to disclose financing costs and annual
percentage rate to the borrower under which law or regulation? -
CORRECT ANSWER-Truth in Lending
7. Earl orally agreed to an 18-month lease with landlord Blake. Is this
contract enforceable? - CORRECT ANSWER-No, all leases for longer than
one year must be in writing to be enforceable
8. Jessica can only afford a 7% down payment on her new cottage. What will
she be required to purchase at closing? - CORRECT ANSWER-Private
Mortgage Insurance
9. What happens if the Grievance Committee finds that there is a potential
ethics violation and that the complaint has been appropriately filed? -
CORRECT ANSWER-The complaint is forwarded to a hearing panel of the
Professional Standards Committee
10.Listing agents must present ________. - CORRECT ANSWER-All formal and
informal offers
11.Which of the following principles are included in the Preamble to the
Code of Ethics? - CORRECT ANSWER-Honesty and Integrity, Fairness, and
Moral conduct in business relations
12.What type of agency cannot be revoked by the principal, nor is terminated
if the principal dies? - CORRECT ANSWER-Agency coupled with an interest
, 13.Who can train office staff at a brokerage firm in weekly meetings? -
CORRECT ANSWER-Principal Broker, associate brokers, and outside social
media marketers
14.What is the minimum earnest money deposit that a Buyer can offer to
purchase a listed home? - CORRECT ANSWER-Zero dollars
15.Which action does an escrow officer typically work on in a home sale
transaction? - CORRECT ANSWER-Collects earnest money deposits, orders
title insurance, and gathers third party inspection reports
16.What was the original name of the National Association of REALTORS®
when it was first founded? - CORRECT ANSWER-The National Association
of Real Estate Exchanges
17.What is "one click away" as it relates to the real estate profession? -
CORRECT ANSWER-When a viewer online can find the agent's contact
information with just one click of the mouse, smartphone, or keyboard
18.A broker who spends their client's $10,000 earnest money deposit on
their office's monthly expenses such as rent, utilities, and has engaged in
the act of what? - CORRECT ANSWER-Conversion and Criminal Fraud
19.Broker Joy just signed a listing agreement with a seller. When should Joy
schedule an office tour? - CORRECT ANSWER-Within a week after the
listing is taken
