Colibri Real Estate Final Exam (KY) 1 questions and answers.

Colibri Real Estate Final Exam (KY) 1
questions and answers.



BrokeroJoyojustosignedoaolistingoagreementowithoaoseller.oWhenoshouldoJoyoscheduleoanoo
fficeotour?o-ocorrectoanswer.ooooWithinoaoweekoafterotheolistingoisotaken

WhatoisoNOTorequiredobetweenotwoopartiesoasoitorelatesotootheoviolationoofo"mutualoassent
"?o-ocorrectoanswer.ooooWrittenocontacts

Titleoinsuranceoprotectsomoreoagainsto_______.o-ocorrectoanswer.ooooPastoevents

Whoohasotheomostoliabilityoinoaofiduciaryorelationshipodisputeooveroaorealoestateotransactio
n?o-ocorrectoanswer.ooooPrincipalobroker

Whooisorequiredotoobeotheotrusteeoforoaobrokerageotrustoaccountofund?o-
ocorrectoanswer.ooooPrincipalobroker



Accordingotooarticleo2,owhichoofotheofollowingostatementsoareoTRUE?o-
ocorrectoanswer.ooooREALTORS®omustodiscloseoalloknownomaterialofactsobutoareonotooblig

atedotoodiscoverolatentodefectsoinotheoproperty.

VickyowasoposingoasoaocustomeroofoEstablishmentoRealty.oHowever,osheowasoreallyothere
otooseeoifoEstablishmentoRealtyowasofollowingofairohousingolaws.oVickyowasoao_______.o-

ocorrectoanswer.ooooTester



Whatoisophysicallyoandofinanciallyofeasible,olegal,oandotheomostoproductiveoforoaoproperty?
o-ocorrectoanswer.ooooItsohighestoandobestouse



Aopartyowithoalloownershiporightsoinoaopropertyoisosaidotooholdo______.o-
ocorrectoanswer.oooolegalotitle



Whatoisotheonameoofotheoactoofomixingopersonalofundsowithoclientofundsoinoaotrustofundoacc
ount?o-ocorrectoanswer.ooooCommingling

, Whatotypeoofoagencyocannotobeorevokedobyotheoprincipal,onoroisoterminatedoifotheoprincipa
lodies?o-ocorrectoanswer.ooooAgencyocoupledowithoanointerest

Whichonationalogroupohasotriedotoostoporealoestateolicenseesofromohandlingoanyocontacts?
o-ocorrectoanswer.ooooAmericanoBaroAssociation



Withoutolegalocapacityoandomutualoconsentoinoplace,ocourtsomayolikelyodoowhatotootheoexi
stingocontractsooroagencyorelationships?o-
ocorrectoanswer.ooooVoidothem,oRescindothem,oCancelothem



Anoexclusiveolistingoagreementomayocontaino_______.o-
ocorrectoanswer.ooooListingotermsoofolessothanooneoyear



Whicholandomeasurementosystemousesotheophysicalofeaturesoofolandotheomostotooidentifyo
it?o-ocorrectoanswer.ooooMetesoandobounds

WhooisomostooftenotheomainoclosingoagentoinoKentuckyopurchaseodeals?o-
ocorrectoanswer.ooooTitleoofficer



Whenomustooffersobeopresentedobyoanoagentotootheoseller?o-
ocorrectoanswer.ooooInoaotimelyomanner



UnderotheoRectangularosurveyosystem,owhichodirectionodootheobaseolinesorunoonoaomap?o
-ocorrectoanswer.ooooeastotoowest

WhenomustoaoREALTORodiscloseoaopersonalointerestoinoaopropertyowhenobuyingoorosellin
g?o-
ocorrectoanswer.ooooAoREALTORoisorequiredotoodiscloseoanyopersonalointeresto(theirs,oimm

ediateofamily,oorobusinessoentityotheyoareopartoof)oinoanyopropertyowhenobuyingooroselling

Whoocanobeoaoclientoinoaorealoestateotransaction?o-
ocorrectoanswer.ooooCorporation,olimitedopartnership,oagentsofamilyomembers



WhatoareotheothreeomajorosectionsoofotheoNARocodeoofoethics?o-
ocorrectoanswer.ooooDutiesotootheoclientoandocustomers,oDutiesotootheopublic,oDutiesotooRE

ALTORS

Whatoisotheosellersomainoconsiderationothatoisoofferedotootheobuyeroinoaopurchaseodeal?o-
ocorrectoanswer.ooooTheofutureotransferoofomarketableotitle



Whoocanotrainoofficeostaffoatoaobrokerageofirmoinoweeklyomeetings?o-
ocorrectoanswer.ooooPrincipaloBroker

AssociateoBroker
OutsideoSocialoMediaoMarketers