Colibri Real Estate Final Exam Review
QUESTIONS & ANSWERS SOLVED 100%
CORRECT ANSWERS
Which of the fiduciary duties owed by a real estate licensee to his or her client survives the termination
of the agency relationship?
A) confidentiality
B) disclosure
C) loyalty
D) obedience
A) confidentiality
Agent Leo and his client Hannah have just signed an open listing agreement that will pay Leo a 6.5%
commission if he finds a willing and able buyer for her house. Which option best describes this
agreement at this time?
A) express, bilateral, executed
B) express, bilateral, executory
C) express, unilateral, executory
D) implied, bilateral, executed
C) express, unilateral, executory
You are driving through a suburb of a city and notice that all of the fast food signs are close to the
ground. This is a result of
A) building codes
B) CC&RS
,C) variances
D) zoning ordinances
D) zoning ordinances
Which of these is NOT considered when determining whether an item is a fixture or personal property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties
C) value of the annexed item
RESPA applies to ___________ financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
D) only single-family dwellings
C) one- to four-family residences
Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop"
,D) "three-car garage with room for a workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet
B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and Amanda. As
they gather at the settlement table, Kim has stacks of documents that need to be signed in order to
complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim
B) Greg and Ashley
Which is an example of steering?
A) a licensee tells homeowner that their property values will drop when a foreign family moves in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse building.
D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity.
, C) a property manager suggests a prospective tenant would be happier in a more diverse building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is set to
increase 10% every month for the next 18 months as business takes off. Lester has what kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease
A) graduated lease
Baxter lists his property through Murray, a licensee at ABC Realty. Murray's broker charges 6.5%
commission, offering a 40% split to a cooperating broker. Murray gets 45% of what ABC earns. The
house sells for $462,000. how much does Murray make (round to the nearest dollar)?
A) $8,108
B) $8,316
C) $9,910
D) $12,012
A) $8,108
$462,000 x 0.65 = $30,030 total commission
$30,030 x .60 = $18,018
$18,018 x .45 = $8,108
QUESTIONS & ANSWERS SOLVED 100%
CORRECT ANSWERS
Which of the fiduciary duties owed by a real estate licensee to his or her client survives the termination
of the agency relationship?
A) confidentiality
B) disclosure
C) loyalty
D) obedience
A) confidentiality
Agent Leo and his client Hannah have just signed an open listing agreement that will pay Leo a 6.5%
commission if he finds a willing and able buyer for her house. Which option best describes this
agreement at this time?
A) express, bilateral, executed
B) express, bilateral, executory
C) express, unilateral, executory
D) implied, bilateral, executed
C) express, unilateral, executory
You are driving through a suburb of a city and notice that all of the fast food signs are close to the
ground. This is a result of
A) building codes
B) CC&RS
,C) variances
D) zoning ordinances
D) zoning ordinances
Which of these is NOT considered when determining whether an item is a fixture or personal property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties
C) value of the annexed item
RESPA applies to ___________ financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
D) only single-family dwellings
C) one- to four-family residences
Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop"
,D) "three-car garage with room for a workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet
B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and Amanda. As
they gather at the settlement table, Kim has stacks of documents that need to be signed in order to
complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim
B) Greg and Ashley
Which is an example of steering?
A) a licensee tells homeowner that their property values will drop when a foreign family moves in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse building.
D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity.
, C) a property manager suggests a prospective tenant would be happier in a more diverse building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is set to
increase 10% every month for the next 18 months as business takes off. Lester has what kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease
A) graduated lease
Baxter lists his property through Murray, a licensee at ABC Realty. Murray's broker charges 6.5%
commission, offering a 40% split to a cooperating broker. Murray gets 45% of what ABC earns. The
house sells for $462,000. how much does Murray make (round to the nearest dollar)?
A) $8,108
B) $8,316
C) $9,910
D) $12,012
A) $8,108
$462,000 x 0.65 = $30,030 total commission
$30,030 x .60 = $18,018
$18,018 x .45 = $8,108
