Colibri Real Estate Exam 2025 With
100% Correct Answers
What happens with a judicial foreclosure? - correct answers ✔✔The mortgaged property is sold
under the supervision of a court.
Broker Dean realizes he has relocation buyers. What is something he should focus on with these
buyers? - correct answers ✔✔On finding a property with good resale value
Real estate licensees should know enough about building ordinances to be able to.. - correct
answers ✔✔alert clients of potential problems in a home.
If an industrial property is described as "special purpose," it is - correct answers ✔✔unsuitable
for many uses and processes.
During the final walk-through, the buyer sees that the seller did not remove a downed tree.
What is the best way of handling this? - correct answers ✔✔At the closing, the buyer could ask
for a credit from the seller to remove the downed tree.
Who must a principal broker supervise in a real estate office? - correct answers ✔✔All licensees
affiliated to the principal broker and all other unlicensed employees at that office.
Broker Hannah just received a $5,000 escrow money deposit. How long does she have to
deposit it under Kentucky law? - correct answers ✔✔Without unreasonable delay
What type of insurance is mandatory for all active licensees? - correct answers ✔✔errors and
omissions insurance
, Sales associate Nika is showing a property with an electronic lockbox, how should she access
the property? - correct answers ✔✔By using the E-key smartphone application
What penalties may a circuit court impose on a person found violating any provision of
Kentucky License Law? - correct answers ✔✔A fine of between $100 and $1,000 and a jail
sentence of up to 6 months.
Why is designated agency a good alternative to traditional dual agency? - correct answers
✔✔Even though the same broker represents each party, both the buyer and seller have a
licensee who exclusively acts as their agent in the transaction.
Which if the following actions is illegal in Kentucky? - correct answers ✔✔Acting for more than
one party in a transaction with the knowledge of all parties for him a licensee acts
Why should broker Taylor create a website for her brokerage? - correct answers ✔✔To brand
her firm with a visual mission statement
Legislation became effective in July of 1999 that requires a lender to drop the PMI requirement
when the loan to value ratio reaches... - correct answers ✔✔78% of the original value of the
property.
Before ordering disciplinary action against a licensee, the Commission must _____. - correct
answers ✔✔order a hearing.
Broker Pearl represents buyer Emma. Pearl heard that seller Misty will accept $20,000 less than
the listed price. Under which duty is Pearl obligated to share this information with Emma? -
correct answers ✔✔loyalty
What type of agency cannot be revoked by the principal, nor is terminated if the principal dies?
- correct answers ✔✔Agency coupled with an interest
100% Correct Answers
What happens with a judicial foreclosure? - correct answers ✔✔The mortgaged property is sold
under the supervision of a court.
Broker Dean realizes he has relocation buyers. What is something he should focus on with these
buyers? - correct answers ✔✔On finding a property with good resale value
Real estate licensees should know enough about building ordinances to be able to.. - correct
answers ✔✔alert clients of potential problems in a home.
If an industrial property is described as "special purpose," it is - correct answers ✔✔unsuitable
for many uses and processes.
During the final walk-through, the buyer sees that the seller did not remove a downed tree.
What is the best way of handling this? - correct answers ✔✔At the closing, the buyer could ask
for a credit from the seller to remove the downed tree.
Who must a principal broker supervise in a real estate office? - correct answers ✔✔All licensees
affiliated to the principal broker and all other unlicensed employees at that office.
Broker Hannah just received a $5,000 escrow money deposit. How long does she have to
deposit it under Kentucky law? - correct answers ✔✔Without unreasonable delay
What type of insurance is mandatory for all active licensees? - correct answers ✔✔errors and
omissions insurance
, Sales associate Nika is showing a property with an electronic lockbox, how should she access
the property? - correct answers ✔✔By using the E-key smartphone application
What penalties may a circuit court impose on a person found violating any provision of
Kentucky License Law? - correct answers ✔✔A fine of between $100 and $1,000 and a jail
sentence of up to 6 months.
Why is designated agency a good alternative to traditional dual agency? - correct answers
✔✔Even though the same broker represents each party, both the buyer and seller have a
licensee who exclusively acts as their agent in the transaction.
Which if the following actions is illegal in Kentucky? - correct answers ✔✔Acting for more than
one party in a transaction with the knowledge of all parties for him a licensee acts
Why should broker Taylor create a website for her brokerage? - correct answers ✔✔To brand
her firm with a visual mission statement
Legislation became effective in July of 1999 that requires a lender to drop the PMI requirement
when the loan to value ratio reaches... - correct answers ✔✔78% of the original value of the
property.
Before ordering disciplinary action against a licensee, the Commission must _____. - correct
answers ✔✔order a hearing.
Broker Pearl represents buyer Emma. Pearl heard that seller Misty will accept $20,000 less than
the listed price. Under which duty is Pearl obligated to share this information with Emma? -
correct answers ✔✔loyalty
What type of agency cannot be revoked by the principal, nor is terminated if the principal dies?
- correct answers ✔✔Agency coupled with an interest
