Colibri School Exam NJ 2023

In a real estate transaction the principal would BEST be described as the - Answer-Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association 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 committed - Answer-Actual fraud Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming no discriminatory advertising is used and a licensee is not involved? - Answer-Barb is an owneroccupant 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 title to Danita property? - AnswerA trustee Which of these phrases would LEAST likely be evidence of a conspiracy to commit an antitrust violation if said by a licensee? - Answer-"We would like to suggest that you use Ace Title Agency for the closing." Which lease tenancy is engaged in by a holdover tenant? - Answer-tenancy at sufferance RESPA applies to ___________ financed by a federally regulated loan. - Answer-one- to fourfamily residences. An acceleration clause in a mortgage allows the lender to - Answer-Declare the loan due if the buyer defaults Borrower Betty'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 conventional loan - Answer-$962 Luke is Marks listing agent. Mark agrees that Luke can pay 3% to a cooperating 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 entitled to a commission because she is the - Answer-Procuring cause Procuring Cause - Answer-