COLIBRI REAL ESTATE EXAM MASTER REVIEW GUIDE INCLUDING ACTUAL TEST
PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
Colibri REAL Estate EXAM 2026/2027 Master
Review Guide Including Complete Questions and
Answers Verified Solutions Latest Update
Question:
Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom
has
Answer:
transferred a portion of his bundle of rights
Question:
What is a forecast of income and expenses that can be projected over five years?
Answer:
Stabilized budget
Question:
A buyer told broker Lena that she wants to move to Cuban neighborhood. Then the buyer asked if
Lena could show her the best home in a Cuban area. How should Lena respond to this request?
Answer:
Lena should explain to the buyer that she ethically and legally cannot recommend housing based on
national origin.
Question:
Which of the following wills may be considered invalid?
Answer:
A will that is not signed.
,Question:
Broker Torrey hires salesperson Wes as an independent contractor. As an independent contractor,
Wes can expect which of the following from Broker Torrey?
Answer:
Performance Expectations
Question:
Which of the following statements best describes what happens with a judicial foreclosure?
Answer:
The mortgaged property is sold under the supervision of a court.
Question:
Which of the following best describes the principle of conformity?
Answer:
A home maintains its highest value by being in a neighborhood with similar-type housing.
Question:
The cost of doing direct mail advertising depends on
Answer:
The frequency of the mailings
Question:
A type of mortgage which allows the lender to increase the outstanding balance of a loan up to the
original amount of the loan in order to advance additional funds is called an
Answer:
open-end mortgage
, Question:
Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a $8,000 mechanic's
lien and a $25,000 judgement lien, which will be paid off first after a foreclosure sale?
Answer:
The $2,500 property tax lien
Question:
On a $280,000 loan, the lender charges a 2 point service charge. How much does the borrower have
to pay for just these two points?
Answer:
$5,600
Question:
A seller decided to back out of a sales contract for no good reason. What recourse does the buyer
have?
Answer:
To sue for specific performance.
Question:
What are the primary advantages of PEX piping?
Answer:
PEX piping is able to withstand both high and low temperatures and it is highly resistant to
chemicals.
Question:
How does Planned Unit Development zoning differ from ordinary zoning?
Answer:
PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
Colibri REAL Estate EXAM 2026/2027 Master
Review Guide Including Complete Questions and
Answers Verified Solutions Latest Update
Question:
Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom
has
Answer:
transferred a portion of his bundle of rights
Question:
What is a forecast of income and expenses that can be projected over five years?
Answer:
Stabilized budget
Question:
A buyer told broker Lena that she wants to move to Cuban neighborhood. Then the buyer asked if
Lena could show her the best home in a Cuban area. How should Lena respond to this request?
Answer:
Lena should explain to the buyer that she ethically and legally cannot recommend housing based on
national origin.
Question:
Which of the following wills may be considered invalid?
Answer:
A will that is not signed.
,Question:
Broker Torrey hires salesperson Wes as an independent contractor. As an independent contractor,
Wes can expect which of the following from Broker Torrey?
Answer:
Performance Expectations
Question:
Which of the following statements best describes what happens with a judicial foreclosure?
Answer:
The mortgaged property is sold under the supervision of a court.
Question:
Which of the following best describes the principle of conformity?
Answer:
A home maintains its highest value by being in a neighborhood with similar-type housing.
Question:
The cost of doing direct mail advertising depends on
Answer:
The frequency of the mailings
Question:
A type of mortgage which allows the lender to increase the outstanding balance of a loan up to the
original amount of the loan in order to advance additional funds is called an
Answer:
open-end mortgage
, Question:
Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a $8,000 mechanic's
lien and a $25,000 judgement lien, which will be paid off first after a foreclosure sale?
Answer:
The $2,500 property tax lien
Question:
On a $280,000 loan, the lender charges a 2 point service charge. How much does the borrower have
to pay for just these two points?
Answer:
$5,600
Question:
A seller decided to back out of a sales contract for no good reason. What recourse does the buyer
have?
Answer:
To sue for specific performance.
Question:
What are the primary advantages of PEX piping?
Answer:
PEX piping is able to withstand both high and low temperatures and it is highly resistant to
chemicals.
Question:
How does Planned Unit Development zoning differ from ordinary zoning?
Answer:
