COLIBRI REAL ESTATE EXAM 2026
ULTIMATE STUDY COMPENDIUM WITH
FULLY SOLVED QUESTIONS AND EXPERT
ANSWERS
◉ Which step in the construction building process is likeliest to be
first? Ans: Grading
◉ Without legal capacity and mutual consent in place, courts may
likely do what to the existing contracts or agency relationships? Ans:
All of the above
◉ The term "business ethics" applies to which of the following
statements? Ans: A form of applied ethics that examines ethical
principles that arise in a business environment.
◉ What must a licensee first do before advertising listed property?
Ans: Obtain the owner's consent.
◉ A 90-day listing agreement is a type of _____. Ans: Special Agency
◉ Which of the following would be an example of personal ethics?
Ans: All of the above
,◉ Buyer Immanuel's broker finds out information about the seller
which will help Immanuel in the transaction. Loyalty is one of the
duties of _____. Ans: protection.
◉ A property has sold for $185,000. The listing agreement calls for a
commission of 6.5%. The listing broker and selling broker agree to
share the commission equally. What will the listing agent receive if
the agent is scheduled to get a 65% share from his broker? Ans:
$3,908
◉ Who is required to be the trustee for a brokerage trust account
fund? Ans: Principal Broker
◉ Under what type of contract is a seller obligated to sell, but the
buyer is not obligated to buy? Ans: Option
◉ What is the name for the act of spending client funds without
permission from a trust fund account? Ans: Conversion
◉ What must a licensee first obtain before engaging in property
management? Ans: A current written property management
agreement.
◉ When may a REALTOR® accept a rebate for services or suggest
the use of services of a business entity in which they have direct
interest in? Ans: Only with their client's knowledge and consent.
, ◉ What type of bank accounts are trust funds placed into once
received from clients? Ans: Non-interest bearing accounts
◉ What is "one click away" as it relates to the real estate profession?
Ans: When a viewer online can find the agent's contact information
with just one click of the mouse, smartphone, or keyboard
◉ What would be a valid reason for a city to approve a zoning
variance? Ans: All of the Above
◉ Which location is an industrial coal plant least likely to be located?
Ans: Adjacent to an Elementary SchoolTo the Buyer
◉ Who can financially be held liable for a Salesperson or Associate
Broker being physically assaulted at an open house showing? Ans:
◉ Who does the Buyer's Agent owe their primary loyalty to in a
purchase deal? Ans: To the Buyer
◉ For a dispute to qualify for arbitration, which of the following
conditions must be met? Ans: All of the above.
◉ What should a Principal Broker do when he wants to add new
unique clauses to a complex commercial real estate purchase contract
to minimize his risks? Ans: Seek out the advice of a trusted real estate
attorney
ULTIMATE STUDY COMPENDIUM WITH
FULLY SOLVED QUESTIONS AND EXPERT
ANSWERS
◉ Which step in the construction building process is likeliest to be
first? Ans: Grading
◉ Without legal capacity and mutual consent in place, courts may
likely do what to the existing contracts or agency relationships? Ans:
All of the above
◉ The term "business ethics" applies to which of the following
statements? Ans: A form of applied ethics that examines ethical
principles that arise in a business environment.
◉ What must a licensee first do before advertising listed property?
Ans: Obtain the owner's consent.
◉ A 90-day listing agreement is a type of _____. Ans: Special Agency
◉ Which of the following would be an example of personal ethics?
Ans: All of the above
,◉ Buyer Immanuel's broker finds out information about the seller
which will help Immanuel in the transaction. Loyalty is one of the
duties of _____. Ans: protection.
◉ A property has sold for $185,000. The listing agreement calls for a
commission of 6.5%. The listing broker and selling broker agree to
share the commission equally. What will the listing agent receive if
the agent is scheduled to get a 65% share from his broker? Ans:
$3,908
◉ Who is required to be the trustee for a brokerage trust account
fund? Ans: Principal Broker
◉ Under what type of contract is a seller obligated to sell, but the
buyer is not obligated to buy? Ans: Option
◉ What is the name for the act of spending client funds without
permission from a trust fund account? Ans: Conversion
◉ What must a licensee first obtain before engaging in property
management? Ans: A current written property management
agreement.
◉ When may a REALTOR® accept a rebate for services or suggest
the use of services of a business entity in which they have direct
interest in? Ans: Only with their client's knowledge and consent.
, ◉ What type of bank accounts are trust funds placed into once
received from clients? Ans: Non-interest bearing accounts
◉ What is "one click away" as it relates to the real estate profession?
Ans: When a viewer online can find the agent's contact information
with just one click of the mouse, smartphone, or keyboard
◉ What would be a valid reason for a city to approve a zoning
variance? Ans: All of the Above
◉ Which location is an industrial coal plant least likely to be located?
Ans: Adjacent to an Elementary SchoolTo the Buyer
◉ Who can financially be held liable for a Salesperson or Associate
Broker being physically assaulted at an open house showing? Ans:
◉ Who does the Buyer's Agent owe their primary loyalty to in a
purchase deal? Ans: To the Buyer
◉ For a dispute to qualify for arbitration, which of the following
conditions must be met? Ans: All of the above.
◉ What should a Principal Broker do when he wants to add new
unique clauses to a complex commercial real estate purchase contract
to minimize his risks? Ans: Seek out the advice of a trusted real estate
attorney
