COAST EMT EXAMINATION TEST 2026 TESTED QUESTIONS WITH COMPLETE SOLUTIONS

COLIBRI REAL ESTATE FINAL EXAM
NEWEST VERSION TESTBANK 2026
COMPLETE SET 1335 PLUS QUESTIONS
WITH DETAILED VERIFIED ANSWERS
GRADED A+

⩥ Ellie is very regimented. She likes to be in the office by 8 a.m. and be
home by 5:30 p.m. She likes that same precision in her monthly
budget—she wants to know what's coming in and how much she can
expect to put into her IRA. She is a good candidate for a career in real
estate sales. Answer: False


⩥ Phil, a real estate licensee, considers going to work for JJ Realty.
Broker Jana James offers him a 60%-40% split on commission. If JJ
Realty takes in $5,000 total commission on Phil's first sale, what is Phil's
split? Answer: $3,000


⩥ A real estate licensee is more likely to be an employee of his broker.
Answer: False


⩥ If a broker supervises the real estate activities of an associated
licensee, that licensee CANNOT be considered an independent
contractor. Answer: False

,⩥ A real estate licensee who is an independent contractor is paid based
on successful real estate transactions, not on hours worked. Answer:
True


⩥ Generically speaking, a person who, for a fee, sells, lists, leases,
exchanges, negotiates, or otherwise deals in the real estate of others or
represents publicly that they do so. Answer: Broker


⩥ A business that serves as an intermediary between buyers and sellers
and/or lessees and lessors of real estate. Answer: Brokerage


⩥ Insurance that protects real estate licensees from liability due to
mistakes or negligence. It does not cover claims related to fraud or
discrimination. Answer: Errors and Omissions Insurance (E&O)


⩥ Under common law, a person who contracts to do a job for another
but maintains control over how the task will be carried out, rather than
following detailed instructions. Answer: Independent Contractor


⩥ A person licensed under state law to practice real estate. Answer:
Licensee


⩥ Any real estate licensee who is a member of the National Association
of REALTORS® (NAR) and his or her affiliated state/local boards. Only

,members may use the term REALTOR® as it's a registered trademark of
NAR. Answer: REALTOR®


⩥ Generically speaking, a real estate licensee agent who is associated
with a broker and as such may perform most of the acts a broker can on
behalf of the broker. Also called Sales Associate. Answer: Salesperson


⩥ A real estate licensee who is treated as an independent contractor for
tax purposes when specified conditions are met: proper licensing;
compensation based on sales; and services performed under a written
contract. Answer: Statutory Nonemployee


⩥ In which field do the majority of new licensees begin their work?
Answer: Residential Sales


⩥ Which is NOT an advantage to a career in real estate sales? Answer:
the option to double commission percentages during slow months


⩥ 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? Answer: 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? Answer: 1099-MISC

, ⩥ Who could a real estate licensee represent in a real estate transaction?
Select all correct responses. Answer: Buyers
Landlords
Sellers
Tenants


All are correct


⩥ Steven just successfully finished his required real estate prelicensing
course. Which statement is TRUE? Answer: Once he joins the NAR, he
can call himself a REALTOR®.


⩥ In order to be considered an independent contractor, a licensee's
compensation must be Answer: based on sales produced, not hours
worked.


⩥ For a real estate licensee, which is NOT a characteristic that indicates
they are an independent contractor? Answer: The licensee must be paid
for hours spent in the brokerage office.


⩥ What are the tasks for which a property manager is typically
responsible? Select all correct responses. Answer: Collecting Rents
Leasing Units