colibri real estate practice questions and answers 100% correct

colibri real estate practice questions and answers 100% correct Which of the following would be an example of a licensee specializing in business type? - Answer- Jim specializes in clients who want to buy restaurants. Which of the following statements is not true? - Answer- A broker is not responsible for the acts of independent contractors. Which of these statements is true? - Answer- Salespersons must perform all of their activities on behalf of their employing broker. Which of the following circumstances would concern you about working for Broker John? - Answer- John expects his agents to spend 5 hours a week on unsupervised telephone duty. Which of the following is not a national real estate trade organization? - Answer- CAR Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall into? - Answer- Type of property Which of the following is NOT a condition of the safe harbor test? - Answer- Gross income must be based on hours worked. A shopping center would be primarily categorized as what type of property? - Answer- Commercial All of the following are true statements about goals except which one? - Answer- Once you set a goal you should never change it. Broker Alice has hired several independent contractors in her firm. Which of these activities does she have control over? - Answer- What percent of commission the licensees can charge. If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? - Answer- Deposit into the brokerage business account. A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? - Answer- 24 months If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? - Answer- 1 year Which California Fair Housing law provides protection from discrimination by business establishments? - Answer- Unruh Civil Rights Act A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This broker is guilty of what prohibited activity? - Answer- Panic selling Which of the following is not a source of information for professional ethics codes? - Answer- Real estate schools How long must trust account records be kept? - Answer- 3 years Which is not a true statement about the Americans with Disabilities Act? - Answer- A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. Which Fair Housing Law added sex to the list of protected classes? - Answer- Housing and Community Development Act Which of these is not an exemption to fair housing law? - Answer- The sale of a single- family home by an owner who owns five residences Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? - Answer- 7 days Agent Paul is bound to inform his client of all facts that might affect the client's interests -- both what Paul knows and what he "should have known." Which of these situations would not be something Paul "should know"? - Answer- The owner of the property is HIV positive. The principles of an agency relationship include all of these factors except which one? - Answer- Compensation Which of the following is not a fiduciary duty an agent owes to his or her principal? - Answer- Blind obedience Which disclosure form gives detailed information about the