Colibri Real Estate (Real Estate Express) Final EXAM
2026-2027 LATEST UPDATED VERSION QUESTIONS AND
ANSWERS
What would be the expected impact on the housing market of a large influx of people into a
community?
A. It would be impossible to predict.
B. It would likely result in a buyer's market.
C. It would likely result in a seller's market.
D. It would not affect the market - answer>>>C. It would likely result in a seller's market.
J, K, and L co-own a property as joint tenants. J and K are killed in a car accident. What is L's interest in
the property?
A. L is a joint tenant with 100% interest.
B. L owns the property in severalty.
C. L still owns 33%, and the rest is split between the J and K's heirs.
D. The estate ends at the death of the majority of the co-owners. - answer>>>B. L owns the property in
severalty.
As the net operating income of a rental property increases, what happens to the value of that property
A. It decreases.
B. It fluctuates.
C. It increases.
D. It stabilizes. - answer>>>C. It increases.
Which of these is LEAST LIKELY to be a ministerial act when performed by a licensee for a buyer
customer?
A. advise a buyer on an appropriate offer price
,B. complete factual information for a buyer on a purchase offer
C. provide a buyer with a list of home inspectors
D. respond to questions about a property at an open house - answer>>>A. advise a buyer on an
appropriate offer price
Which of these tenancies could describe a landlord- tenant relationship?
A. entirety
B. freehold
C. periodic
D. severalty - answer>>>C. periodic
To the owner of the land it runs across, an easement is considered a(n)
A. attachment.
B. encroachment.
C. encumbrance.
D. trespass. - answer>>>C. encumbrance.
A borrower takes out a home equity loan for $50,000. This is a fixed rate loan with an interest rate of
12%. The borrower makes monthly payments of $514.31. What is the balance of the loan after TWO
monthly payments?
A. $49,985.69
B. $49,971.24
C. $49,956.64
D. $49,941.90 - answer>>>B. $49,971.24
$50,000 x 0.12 = $6,000 annual interest. $6,000 ÷ 12 months = $500 interest for month one. $514.31
payment - $500 interest = $14.31 in principal. $50,000 - $14.31 = $49,985.69 balance after first
payment. $49,985.69 x 0.12 = $5,998.32 annual interest. $5,998.28 ÷ 12 months = $499.86 interest for
,month two. $514.31 payment - $499.86 interest = $14.45 in principal. $49,985.69 - $14.45 = $49,971.24
balance after second payment.
Which buildings would NOT be exempt under Title III of the American with Disabilities Act?
A. government buildings
B. historical buildings
C. places of worship
D. private clubs - answer>>>A. government buildings
The sale of a property will close on March 20. Property taxes are $3,450 per year and are paid in arrears.
How will this be reconciled on the settlement statement, assuming a 365-day year?
A. $746.71 Debit Seller / $746.71 Credit Buyer
B. $746.71 Credit Seller / $746.71 Debit Buyer
C. $2,703.29 Debit Seller / $746.71 Credit Buyer
D. $746.71 Debit Seller / $2,703.29 Credit Buyer - answer>>>A. $746.71 Debit Seller / $746.71 Credit
Buyer
First calculate the cost per day ($3,450 taxes / 365 = $9.4520 daily rate). Next, determine the number of
days the seller owned the property (January=31 + February=28 + 20 days in March = 79 days). Multiply
the number of days by the daily tax rate to find the amount the seller owes: 79 x $9.4520 = $746.71. The
seller is debited and the buyer is credited for $746.71 in property taxes.
An option to purchase is considered binding on which party to the contract?
A. buyer only
B. seller only
C. both buyer and seller
D. neither buyer nor seller - answer>>>B. seller only
, A woman gets a deed of trust from a bank to finance the purchase of a house in a new subdivision.
While the loan is outstanding, who holds the title to her property?
A. the bank
B. the borrower
C. the developer
D. the trustee - answer>>>D. the trustee
Which statement about an oral lease is TRUE?
A. An oral lease is enforceable only for commercial property, not residential property.
B. An oral lease is enforceable only if it renews an earlier, written lease.
C. An oral lease for less than one year is generally enforceable.
D. An oral lease is never enforceable. - answer>>>C. An oral lease for less than one year is generally
enforceable.
What did the Supreme Court of the United States rule in the case of Jones v. Alfred H. Mayer?
A. The doctrine of "separate but equal" is unconstitutional.
B. Non-citizens have equal rights to own property.
C. Persons with disabilities are a protected class.
D. Race is a protected class with no exceptions. - answer>>>D. Race is a protected class with no
exceptions.
Which situation is LEAST LIKELY to terminate a relationship between a brokerage and a homeowner who
is selling his house?
A. the broker loses her license
B. the designated listing agent dies
C. the homeowner declares bankruptcy
2026-2027 LATEST UPDATED VERSION QUESTIONS AND
ANSWERS
What would be the expected impact on the housing market of a large influx of people into a
community?
A. It would be impossible to predict.
B. It would likely result in a buyer's market.
C. It would likely result in a seller's market.
D. It would not affect the market - answer>>>C. It would likely result in a seller's market.
J, K, and L co-own a property as joint tenants. J and K are killed in a car accident. What is L's interest in
the property?
A. L is a joint tenant with 100% interest.
B. L owns the property in severalty.
C. L still owns 33%, and the rest is split between the J and K's heirs.
D. The estate ends at the death of the majority of the co-owners. - answer>>>B. L owns the property in
severalty.
As the net operating income of a rental property increases, what happens to the value of that property
A. It decreases.
B. It fluctuates.
C. It increases.
D. It stabilizes. - answer>>>C. It increases.
Which of these is LEAST LIKELY to be a ministerial act when performed by a licensee for a buyer
customer?
A. advise a buyer on an appropriate offer price
,B. complete factual information for a buyer on a purchase offer
C. provide a buyer with a list of home inspectors
D. respond to questions about a property at an open house - answer>>>A. advise a buyer on an
appropriate offer price
Which of these tenancies could describe a landlord- tenant relationship?
A. entirety
B. freehold
C. periodic
D. severalty - answer>>>C. periodic
To the owner of the land it runs across, an easement is considered a(n)
A. attachment.
B. encroachment.
C. encumbrance.
D. trespass. - answer>>>C. encumbrance.
A borrower takes out a home equity loan for $50,000. This is a fixed rate loan with an interest rate of
12%. The borrower makes monthly payments of $514.31. What is the balance of the loan after TWO
monthly payments?
A. $49,985.69
B. $49,971.24
C. $49,956.64
D. $49,941.90 - answer>>>B. $49,971.24
$50,000 x 0.12 = $6,000 annual interest. $6,000 ÷ 12 months = $500 interest for month one. $514.31
payment - $500 interest = $14.31 in principal. $50,000 - $14.31 = $49,985.69 balance after first
payment. $49,985.69 x 0.12 = $5,998.32 annual interest. $5,998.28 ÷ 12 months = $499.86 interest for
,month two. $514.31 payment - $499.86 interest = $14.45 in principal. $49,985.69 - $14.45 = $49,971.24
balance after second payment.
Which buildings would NOT be exempt under Title III of the American with Disabilities Act?
A. government buildings
B. historical buildings
C. places of worship
D. private clubs - answer>>>A. government buildings
The sale of a property will close on March 20. Property taxes are $3,450 per year and are paid in arrears.
How will this be reconciled on the settlement statement, assuming a 365-day year?
A. $746.71 Debit Seller / $746.71 Credit Buyer
B. $746.71 Credit Seller / $746.71 Debit Buyer
C. $2,703.29 Debit Seller / $746.71 Credit Buyer
D. $746.71 Debit Seller / $2,703.29 Credit Buyer - answer>>>A. $746.71 Debit Seller / $746.71 Credit
Buyer
First calculate the cost per day ($3,450 taxes / 365 = $9.4520 daily rate). Next, determine the number of
days the seller owned the property (January=31 + February=28 + 20 days in March = 79 days). Multiply
the number of days by the daily tax rate to find the amount the seller owes: 79 x $9.4520 = $746.71. The
seller is debited and the buyer is credited for $746.71 in property taxes.
An option to purchase is considered binding on which party to the contract?
A. buyer only
B. seller only
C. both buyer and seller
D. neither buyer nor seller - answer>>>B. seller only
, A woman gets a deed of trust from a bank to finance the purchase of a house in a new subdivision.
While the loan is outstanding, who holds the title to her property?
A. the bank
B. the borrower
C. the developer
D. the trustee - answer>>>D. the trustee
Which statement about an oral lease is TRUE?
A. An oral lease is enforceable only for commercial property, not residential property.
B. An oral lease is enforceable only if it renews an earlier, written lease.
C. An oral lease for less than one year is generally enforceable.
D. An oral lease is never enforceable. - answer>>>C. An oral lease for less than one year is generally
enforceable.
What did the Supreme Court of the United States rule in the case of Jones v. Alfred H. Mayer?
A. The doctrine of "separate but equal" is unconstitutional.
B. Non-citizens have equal rights to own property.
C. Persons with disabilities are a protected class.
D. Race is a protected class with no exceptions. - answer>>>D. Race is a protected class with no
exceptions.
Which situation is LEAST LIKELY to terminate a relationship between a brokerage and a homeowner who
is selling his house?
A. the broker loses her license
B. the designated listing agent dies
C. the homeowner declares bankruptcy
