COLIBRI PRACTICE TEST ACTUAL QUESTIONS
WITH VERIFIED SOLUTIONS
◉ Article 3 Cooperation.
Answer: Sharing information and making listings available for
showing
◉ NAR Ethics Violation Discipline.
Answer: Letter of Warning or Letter of Reprimand
◉ Agent's Escrow Funds.
Answer: Commingling in Agency Law
◉ Statute of Frauds Coverage.
Answer: Written contracts, voluntary agreements, contracts without
duress
◉ Title Insurance Protection.
Answer: Against past histories
◉ Principal Broker Supervision.
,Answer: All licensees and unlicensed employees in the office
◉ Listing Commercial Real Estate.
Answer: Inform client of lack of expertise
◉ Property Management Requirement.
Answer: Current written management agreement
◉ Ostensible Authority Alias.
Answer: Apparent Authority
◉ Licensee's Fund Deposit Error.
Answer: Commingling in wrong account
◉ Type of Clause for Commission Collection After Listing Expires.
Answer: Carryover Clause
◉ REALTOR® Valuation Fee Contingency.
Answer: Fees for valuations must not be contingent on property
value
◉ Example of Licensee Group Boycott.
, Answer: Group boycott
◉ Duty of Loyalty in Transaction.
Answer: Protection
◉ Timing for Presenting Offers to Seller.
Answer: In a timely manner
◉ Broker's Action Before Showing FSBO to Buyer.
Answer: Have buyer agree to pay commission if purchase
◉ Examples of Government Influence on Property Values.
Answer: Taxation, money supply, zoning regulations
◉ Application of Article 10 for REALTORS®.
Answer: Public services and real estate employment practices
◉ Sources for Advertising Rules and Restrictions.
Answer: Do not call lists, MLS IDX, NAR Membership marks manual
◉ Handling of Monies in Real Estate Transactions.
Answer: Keep in trust accounts, not in general business account
WITH VERIFIED SOLUTIONS
◉ Article 3 Cooperation.
Answer: Sharing information and making listings available for
showing
◉ NAR Ethics Violation Discipline.
Answer: Letter of Warning or Letter of Reprimand
◉ Agent's Escrow Funds.
Answer: Commingling in Agency Law
◉ Statute of Frauds Coverage.
Answer: Written contracts, voluntary agreements, contracts without
duress
◉ Title Insurance Protection.
Answer: Against past histories
◉ Principal Broker Supervision.
,Answer: All licensees and unlicensed employees in the office
◉ Listing Commercial Real Estate.
Answer: Inform client of lack of expertise
◉ Property Management Requirement.
Answer: Current written management agreement
◉ Ostensible Authority Alias.
Answer: Apparent Authority
◉ Licensee's Fund Deposit Error.
Answer: Commingling in wrong account
◉ Type of Clause for Commission Collection After Listing Expires.
Answer: Carryover Clause
◉ REALTOR® Valuation Fee Contingency.
Answer: Fees for valuations must not be contingent on property
value
◉ Example of Licensee Group Boycott.
, Answer: Group boycott
◉ Duty of Loyalty in Transaction.
Answer: Protection
◉ Timing for Presenting Offers to Seller.
Answer: In a timely manner
◉ Broker's Action Before Showing FSBO to Buyer.
Answer: Have buyer agree to pay commission if purchase
◉ Examples of Government Influence on Property Values.
Answer: Taxation, money supply, zoning regulations
◉ Application of Article 10 for REALTORS®.
Answer: Public services and real estate employment practices
◉ Sources for Advertising Rules and Restrictions.
Answer: Do not call lists, MLS IDX, NAR Membership marks manual
◉ Handling of Monies in Real Estate Transactions.
Answer: Keep in trust accounts, not in general business account
