1
COLIBRI REAL ESTATE LAW EXAM
QUESTIONS WITH SOLUTIONS
Who is generally responsible for ensuring that the Closing Disclosure is delivered
to the buyer no later than three business days before consummation?
The broker
The creditor
The licensee
The title company - correct-answer - The creditor
In what type of a relationship is an agent paid based on his or her results, not
effort or time spent working on real estate activities?
An employee relationship
A technical relationship
An independent contractor relationship
, 2
A transaction broker relationship - correct-answer - An independent contractor
relationship
In a real estate transaction, who is the decision maker on all things?
The broker
The buyer
The client
The seller - correct-answer - The client
What describes conditions that must be met in order for a contract to be
enforceable? - correct-answer - Terms
What type of listing is a non-exclusive contract, authorizing a broker to serve as
the agent for either the sale or the purchase of property?
A net listing
An exclusive right to sell listing
, 3
An open listing
A multiple listing - correct-answer - An open listing
What is the legal process of a property or properties in an unincorporated area or
county becoming part of a neighboring city?
Gentrification
Corporation
Annexation
Inclusion - correct-answer - Annexation
If the interest-holder enjoys the right of possession of land, the party is
considered to have
eminent domain.
a leasehold estate.
an encumbrance.
an estate in land. - correct-answer - an estate in land.
, 4
Which one of these contracts is a unilateral agreement?
A lease
A purchase agreement
An Independent Contractor Agreement
An Option to Terminate - correct-answer - An Option to Terminate
If a broker has compensated a non-licensed person for activities that he or she is
not licensed for, the broker is guilty of
criminal offense.
a felony.
burglary.
a misdemeanor. - correct-answer - a misdemeanor.
Who can file a discrimination complaint?
A buyer
A seller
COLIBRI REAL ESTATE LAW EXAM
QUESTIONS WITH SOLUTIONS
Who is generally responsible for ensuring that the Closing Disclosure is delivered
to the buyer no later than three business days before consummation?
The broker
The creditor
The licensee
The title company - correct-answer - The creditor
In what type of a relationship is an agent paid based on his or her results, not
effort or time spent working on real estate activities?
An employee relationship
A technical relationship
An independent contractor relationship
, 2
A transaction broker relationship - correct-answer - An independent contractor
relationship
In a real estate transaction, who is the decision maker on all things?
The broker
The buyer
The client
The seller - correct-answer - The client
What describes conditions that must be met in order for a contract to be
enforceable? - correct-answer - Terms
What type of listing is a non-exclusive contract, authorizing a broker to serve as
the agent for either the sale or the purchase of property?
A net listing
An exclusive right to sell listing
, 3
An open listing
A multiple listing - correct-answer - An open listing
What is the legal process of a property or properties in an unincorporated area or
county becoming part of a neighboring city?
Gentrification
Corporation
Annexation
Inclusion - correct-answer - Annexation
If the interest-holder enjoys the right of possession of land, the party is
considered to have
eminent domain.
a leasehold estate.
an encumbrance.
an estate in land. - correct-answer - an estate in land.
, 4
Which one of these contracts is a unilateral agreement?
A lease
A purchase agreement
An Independent Contractor Agreement
An Option to Terminate - correct-answer - An Option to Terminate
If a broker has compensated a non-licensed person for activities that he or she is
not licensed for, the broker is guilty of
criminal offense.
a felony.
burglary.
a misdemeanor. - correct-answer - a misdemeanor.
Who can file a discrimination complaint?
A buyer
A seller
