COLIBRI REAL ESTATE EXAM (AL)
QUESTIONS AND ANSWERS 2026
VERIFIED.
Steven just successfully finished his required real estate prelicensing course. Which statement is
TRUE?
A. Once he joins the NAR, he can call himself a REALTOR®.
B. Once he passes the state exam, he can call himself a REALTOR®.
C. Once he has his real estate license, he can call himself a REALTOR®.
D. Once he affiliates with a broker, he can call himself a REALTOR®. - ANS A. Once he joins the
NAR, he can call himself a REALTOR®.
Licensee Louie has worked for Rick, the broker at ABC Realty, for 20 years. Louie has been
accused of negligence for not disclosing a material fact to a buyer. Which statement is TRUE?
A. Rick cannot be held liable for any associated licensee's conduct.
B. Since Louie has 20 years of experience, Rick is not required to supervise him, and so is not
liable.
C. Rick can be held liable for Louie's misconduct.
D. If Louie is an independent contract, Rick cannot be held liable for his conduct. - ANS C. Rick
can be held liable for Louie's misconduct.
At the end of the year, what tax form will an independent contractor receive to document their
income?
A. 1099-MISC
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 26
,B. W-2
C. 1086-IND-CON
D. 1040 - ANS A. 1099-MISC
For a real estate licensee, which is NOT a characteristic that indicates they are an independent
contractor?
A. The licensee can set their own hours.
B. The licensee must be paid for hours spent in the brokerage office.
C. The broker may supervise the licensee's actions.
D. The broker and the licensee must have a signed agreement. - ANS B. The licensee must be
paid for hours spent in the brokerage office.
In order to be considered an independent contractor, a licensee's compensation must be
A. based on sales produced, not hours worked.
B. based on a negotiated annual salary.
C. based on an hourly wage only.
D. a combination of hourly wages and commission. - ANS A. based on sales produced, not
hours worked.
In which field do the majority of new licensees begin their work?
A. residential leasing
B. residential sales
C. property management
D. commercial leasing - ANS B. residential sales
What are the tasks for which a property manager is typically responsible? Select all correct
responses.
A. managing the maintenance and repair of the building
B. maintaining tenant relationships
C. leasing units
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 26
, D. collecting rents - ANS ALL
Which is NOT an advantage to a career in real estate sales?
A. the opportunity to own your own brokerage
B. the option to double commission percentages during slow months
C. the freedom to set your own hours
D. the ability to earn more if you work more - ANS B. the option to double commission
percentages during slow months
Who could a real estate licensee represent in a real estate transaction? Select all correct
responses.
A. sellers
B. tenants
C. landlords
D. buyers - ANS ALL
Who sets the interest rates that banks charge for mortgages?
A. individual banks and other lenders
B. U.S. Congress
C. Federal Reserve
D. Federal Housing Authority - ANS A. individual banks and other lenders
Which situation would NOT likely result in a seller's market?
A. migration out of an area
B. minimal new construction
C. low interest rates.
D. high construction costs - ANS A. migration out of an area
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 26
QUESTIONS AND ANSWERS 2026
VERIFIED.
Steven just successfully finished his required real estate prelicensing course. Which statement is
TRUE?
A. Once he joins the NAR, he can call himself a REALTOR®.
B. Once he passes the state exam, he can call himself a REALTOR®.
C. Once he has his real estate license, he can call himself a REALTOR®.
D. Once he affiliates with a broker, he can call himself a REALTOR®. - ANS A. Once he joins the
NAR, he can call himself a REALTOR®.
Licensee Louie has worked for Rick, the broker at ABC Realty, for 20 years. Louie has been
accused of negligence for not disclosing a material fact to a buyer. Which statement is TRUE?
A. Rick cannot be held liable for any associated licensee's conduct.
B. Since Louie has 20 years of experience, Rick is not required to supervise him, and so is not
liable.
C. Rick can be held liable for Louie's misconduct.
D. If Louie is an independent contract, Rick cannot be held liable for his conduct. - ANS C. Rick
can be held liable for Louie's misconduct.
At the end of the year, what tax form will an independent contractor receive to document their
income?
A. 1099-MISC
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 26
,B. W-2
C. 1086-IND-CON
D. 1040 - ANS A. 1099-MISC
For a real estate licensee, which is NOT a characteristic that indicates they are an independent
contractor?
A. The licensee can set their own hours.
B. The licensee must be paid for hours spent in the brokerage office.
C. The broker may supervise the licensee's actions.
D. The broker and the licensee must have a signed agreement. - ANS B. The licensee must be
paid for hours spent in the brokerage office.
In order to be considered an independent contractor, a licensee's compensation must be
A. based on sales produced, not hours worked.
B. based on a negotiated annual salary.
C. based on an hourly wage only.
D. a combination of hourly wages and commission. - ANS A. based on sales produced, not
hours worked.
In which field do the majority of new licensees begin their work?
A. residential leasing
B. residential sales
C. property management
D. commercial leasing - ANS B. residential sales
What are the tasks for which a property manager is typically responsible? Select all correct
responses.
A. managing the maintenance and repair of the building
B. maintaining tenant relationships
C. leasing units
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 26
, D. collecting rents - ANS ALL
Which is NOT an advantage to a career in real estate sales?
A. the opportunity to own your own brokerage
B. the option to double commission percentages during slow months
C. the freedom to set your own hours
D. the ability to earn more if you work more - ANS B. the option to double commission
percentages during slow months
Who could a real estate licensee represent in a real estate transaction? Select all correct
responses.
A. sellers
B. tenants
C. landlords
D. buyers - ANS ALL
Who sets the interest rates that banks charge for mortgages?
A. individual banks and other lenders
B. U.S. Congress
C. Federal Reserve
D. Federal Housing Authority - ANS A. individual banks and other lenders
Which situation would NOT likely result in a seller's market?
A. migration out of an area
B. minimal new construction
C. low interest rates.
D. high construction costs - ANS A. migration out of an area
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 26
