Colibri School Exam NJ 2025/2026 COMBINED WITH
Final Exam-Colibri Real Estate With complete solu'on
Updated NEW!!
In a real estate transac on the principal would BEST be described as the - Ans Person
represented by an agent
Bert is showing his buyer a home in a historic district. The buyer men ons in passing that she
would like to place solar panels on the roof. Beet knows that the homeowners associa on
CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't
tell the buyer for fear she'll loose interest in the house. Bert has commi&ed - Ans Actual fraud
Which situa on is NOT EXEMPT from the provisions of federal fair housing laws, assuming no
discriminatory adver sing is used and a licensee is not involved? - Ans Barb is an owner-
occupant of a duplex who will lease the other unit only to a white woman
Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a
new subdivision. While the loan is outstanding, who holds the tle to Danita property? - Ans A
trustee
Which of these phrases would LEAST likely be evidence of a conspiracy to commit an an trust
viola on if said by a licensee? - Ans "We would like to suggest that you use Ace Title Agency for
the closing."
Which lease tenancy is engaged in by a holdover tenant? - Ans tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. - Ans one- to four-family
residences.
,An accelera on clause in a mortgage allows the lender to - Ans Declare the loan due if the
buyer defaults
Borrower Be&y's stable monthly income is $4200. She has three monthly debts: $350 car
payment, $120 student loan payment, and $80 credit card payment. What is the maximum
monthly mortgage payment she would qualify for on a conven onal loan - Ans $962
Luke is Marks lis ng agent. Mark agrees that Luke can pay 3% to a coopera ng broker. Licensee
Lisa introduces buyer customer Bev to Mark's property. When Bev decides to make an offer on
the house, she calls Luke directly. Luke refuses to pay Lisa any commission. Lisa could argue that
she is en tled to a commission because she is the - Ans Procuring cause
Procuring Cause – Ans
Final Exam-Colibri Real Estate
1. All six members of the Georgia Real Estate Commission are appointed by - The Governor of
Georgia
How many commission members must be licensed - Five of the six members of the Georgia
Real Estate can have licenses One must be an unlicensed member of the " general public 3.
EARLNOTES
What must happen with all funds in a sale - All money that belongs to clients or customers
must be deposited in the brokerage trust fund as soon as possible ASAP aFer receipt .
What is the procedure for license expira on - When a license has been lapsed for more than
two years but less than five years the former licensee may request reinstatement and retake a
75 - hour pre - license course . AFer ten years the former licensee must follow the procedure for
new applicants .
, Which descrihes dual agency - When a broker appoints one of his agents to serve the seller and
one to serve the buyer , they are called designated agents and the broker will serve as a dual
agent .
What happens when someone recieves mistreatment from a real estate licensee - When a
consumer or client ( not another licensee or a rela ve of the accused licensee ) is financially
damaged by the ac ons of a licensee , he or she can file , through the court a claim against the
Georgia Real Estate Educa on , Research and Recovery Fund for reimbursement up to $ 25,000
per transac on .
For a brokerage or any licensee under a managing broker to be considered a Dual Agent , he /
she must - obtain wri&en permission from both the seller and the buyer before ac ng on behalf
of either party . BIRTH MONTHS
When are renewal deadlines for licensees - All renewal deadlines for licenses are set for the last
day of the licensee's birth month every four full years . ( The licensee's first renewal period may
be longer , depending on when the license was obtained . It starts the last day of the birth
month that arrives aFer the license is obtained ) .
What is the training hours required for licensees - Assuming a licensee has competed the 25 -
hour GA Post License Course during the first year of licensure ) , he will receive credit for 9 hours
of Con nuing educa on and will only need to complete 27 hours of CE during the rest of the
licensee's first licensure period . For the second four - year period and each renewal thereaFer .
the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money returned the
salesperson must - REFER the issue to the EMPLOYING or managing BROKER for a decision
When every original license fee is received , of the funds received _____from each license fee is
allocated to fund the RE Educa on , Research and Recovery Fund - 20$
Final Exam-Colibri Real Estate With complete solu'on
Updated NEW!!
In a real estate transac on the principal would BEST be described as the - Ans Person
represented by an agent
Bert is showing his buyer a home in a historic district. The buyer men ons in passing that she
would like to place solar panels on the roof. Beet knows that the homeowners associa on
CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't
tell the buyer for fear she'll loose interest in the house. Bert has commi&ed - Ans Actual fraud
Which situa on is NOT EXEMPT from the provisions of federal fair housing laws, assuming no
discriminatory adver sing is used and a licensee is not involved? - Ans Barb is an owner-
occupant of a duplex who will lease the other unit only to a white woman
Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a
new subdivision. While the loan is outstanding, who holds the tle to Danita property? - Ans A
trustee
Which of these phrases would LEAST likely be evidence of a conspiracy to commit an an trust
viola on if said by a licensee? - Ans "We would like to suggest that you use Ace Title Agency for
the closing."
Which lease tenancy is engaged in by a holdover tenant? - Ans tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. - Ans one- to four-family
residences.
,An accelera on clause in a mortgage allows the lender to - Ans Declare the loan due if the
buyer defaults
Borrower Be&y's stable monthly income is $4200. She has three monthly debts: $350 car
payment, $120 student loan payment, and $80 credit card payment. What is the maximum
monthly mortgage payment she would qualify for on a conven onal loan - Ans $962
Luke is Marks lis ng agent. Mark agrees that Luke can pay 3% to a coopera ng broker. Licensee
Lisa introduces buyer customer Bev to Mark's property. When Bev decides to make an offer on
the house, she calls Luke directly. Luke refuses to pay Lisa any commission. Lisa could argue that
she is en tled to a commission because she is the - Ans Procuring cause
Procuring Cause – Ans
Final Exam-Colibri Real Estate
1. All six members of the Georgia Real Estate Commission are appointed by - The Governor of
Georgia
How many commission members must be licensed - Five of the six members of the Georgia
Real Estate can have licenses One must be an unlicensed member of the " general public 3.
EARLNOTES
What must happen with all funds in a sale - All money that belongs to clients or customers
must be deposited in the brokerage trust fund as soon as possible ASAP aFer receipt .
What is the procedure for license expira on - When a license has been lapsed for more than
two years but less than five years the former licensee may request reinstatement and retake a
75 - hour pre - license course . AFer ten years the former licensee must follow the procedure for
new applicants .
, Which descrihes dual agency - When a broker appoints one of his agents to serve the seller and
one to serve the buyer , they are called designated agents and the broker will serve as a dual
agent .
What happens when someone recieves mistreatment from a real estate licensee - When a
consumer or client ( not another licensee or a rela ve of the accused licensee ) is financially
damaged by the ac ons of a licensee , he or she can file , through the court a claim against the
Georgia Real Estate Educa on , Research and Recovery Fund for reimbursement up to $ 25,000
per transac on .
For a brokerage or any licensee under a managing broker to be considered a Dual Agent , he /
she must - obtain wri&en permission from both the seller and the buyer before ac ng on behalf
of either party . BIRTH MONTHS
When are renewal deadlines for licensees - All renewal deadlines for licenses are set for the last
day of the licensee's birth month every four full years . ( The licensee's first renewal period may
be longer , depending on when the license was obtained . It starts the last day of the birth
month that arrives aFer the license is obtained ) .
What is the training hours required for licensees - Assuming a licensee has competed the 25 -
hour GA Post License Course during the first year of licensure ) , he will receive credit for 9 hours
of Con nuing educa on and will only need to complete 27 hours of CE during the rest of the
licensee's first licensure period . For the second four - year period and each renewal thereaFer .
the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money returned the
salesperson must - REFER the issue to the EMPLOYING or managing BROKER for a decision
When every original license fee is received , of the funds received _____from each license fee is
allocated to fund the RE Educa on , Research and Recovery Fund - 20$
