COLIBRI REAL ESTATE EXAM STUDY SHEET COMPLETE QUESTIONS ACCURATE
SOLUTIONS FORM TWO
Colibri Real Estate Final Exa2 Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
Absolute Auction.
Answer:
An auction where the property is sold to the highest qualified bidder; there is no minimum bid or
reserve or right of confirmation. Also called Without Reserve.
Question:
Abstract of Title.
Answer:
A brief, chronological summary of the recorded documents affecting title to a particular parcel of
real property.
Question:
Acceleration Clause.
Answer:
A contract clause giving the lender the right to declare the entire loan amount due immediately
because of borrower's default, or other reasons in the contract.
Question:
Acceptance.
Answer:
When a party agrees to the terms of an offer to enter into a contract, thereby creating a binding
contract.
,Question:
Accession.
Answer:
The acquisition of title to land by its addition to real estate already owned, through human actions or
natural processes.
Question:
Accounting.
Answer:
In an agency relationship, the agent's fiduciary duty to the principal to strictly account for all monies
received.
Question:
Accretion.
Answer:
A gradual addition to dry land by the forces of nature, as when the tide deposits water-borne
sediment on shoreline property.
Question:
Accrued.
Answer:
an accumulation
Question:
Accrued Expense.
Answer:
Item on a settlement statement for which the cost has been incurred, but the expense has not yet
been paid. Such expenses are considered to be paid in arrears.
,Question:
Acknowledgement.
Answer:
Recognition of validity; a document signers declaration to an authorized official (usually notary
public) that he is signing voluntarily
Question:
Acre.
Answer:
A measure of land equal to 43,560 square feet. One square mile contains 640 acres.
Question:
Actionable Fraud.
Answer:
Fraud that meets certain criteria, so that a victim can successfully sue. The victim must prove the
defendant concealed material facts or made false statements (intentionally or negligently) with the
intent to induce the victim to enter a transaction, and the victim was harmed by relying on
misrepresentations.
Question:
Actual Eviction.
Answer:
The legal process of forcing someone off of a property or preventing someone from re-entering the
property
Question:
Actual Fraud.
, Answer:
An intentional misrepresentation or concealment of a material fact; when a person actively conceals
material information or makes statements that he knows are false or misleading.
Question:
Actual Notice.
Answer:
Personal knowledge of a fact, rather than knowledge imputed or inferred by law
Question:
Ad Valorem.
Answer:
Latin for according to value
Question:
Adequate Consideration.
Answer:
Consideration that is comparable in value to the consideration the other party to the contract is
giving.
Question:
Adjustable rate mortgage (ARM).
Answer:
A type of loan structure that permits the lender to periodically change or vary the interest rate
charged, based on a standard index.
Question:
SOLUTIONS FORM TWO
Colibri Real Estate Final Exa2 Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
Absolute Auction.
Answer:
An auction where the property is sold to the highest qualified bidder; there is no minimum bid or
reserve or right of confirmation. Also called Without Reserve.
Question:
Abstract of Title.
Answer:
A brief, chronological summary of the recorded documents affecting title to a particular parcel of
real property.
Question:
Acceleration Clause.
Answer:
A contract clause giving the lender the right to declare the entire loan amount due immediately
because of borrower's default, or other reasons in the contract.
Question:
Acceptance.
Answer:
When a party agrees to the terms of an offer to enter into a contract, thereby creating a binding
contract.
,Question:
Accession.
Answer:
The acquisition of title to land by its addition to real estate already owned, through human actions or
natural processes.
Question:
Accounting.
Answer:
In an agency relationship, the agent's fiduciary duty to the principal to strictly account for all monies
received.
Question:
Accretion.
Answer:
A gradual addition to dry land by the forces of nature, as when the tide deposits water-borne
sediment on shoreline property.
Question:
Accrued.
Answer:
an accumulation
Question:
Accrued Expense.
Answer:
Item on a settlement statement for which the cost has been incurred, but the expense has not yet
been paid. Such expenses are considered to be paid in arrears.
,Question:
Acknowledgement.
Answer:
Recognition of validity; a document signers declaration to an authorized official (usually notary
public) that he is signing voluntarily
Question:
Acre.
Answer:
A measure of land equal to 43,560 square feet. One square mile contains 640 acres.
Question:
Actionable Fraud.
Answer:
Fraud that meets certain criteria, so that a victim can successfully sue. The victim must prove the
defendant concealed material facts or made false statements (intentionally or negligently) with the
intent to induce the victim to enter a transaction, and the victim was harmed by relying on
misrepresentations.
Question:
Actual Eviction.
Answer:
The legal process of forcing someone off of a property or preventing someone from re-entering the
property
Question:
Actual Fraud.
, Answer:
An intentional misrepresentation or concealment of a material fact; when a person actively conceals
material information or makes statements that he knows are false or misleading.
Question:
Actual Notice.
Answer:
Personal knowledge of a fact, rather than knowledge imputed or inferred by law
Question:
Ad Valorem.
Answer:
Latin for according to value
Question:
Adequate Consideration.
Answer:
Consideration that is comparable in value to the consideration the other party to the contract is
giving.
Question:
Adjustable rate mortgage (ARM).
Answer:
A type of loan structure that permits the lender to periodically change or vary the interest rate
charged, based on a standard index.
Question:
