Colibri Real Estate Course Final Exam
2026–2027: Practice Questions & Exam
Preparation
Why is the condition of bearing walls more important than non bearing walls? -
correct answer-Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - correct answer-transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years?
- correct answer-Stabilized budget
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? - correct answer-Lena should explain to the
buyer that she ethically and legally cannot recommend housing based on national
origin.
Which of the following wills may be considered invalid? - correct answer-A will
that is not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - correct answer-Performance Expectations
, Which of the following statements best describes what happens with a judicial
foreclosure? - correct answer-The mortgaged property is sold under the
supervision of a court.
Which of the following best describes the principle of conformity? - correct
answer-A home maintains its highest value by being in a neighborhood with
similar-type housing.
The cost of doing direct mail advertising depends on - correct answer-The
frequency of the mailings
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 - correct answer-open-end mortgage
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? - correct answer-The $2,500 property tax lien
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? - correct answer-$5,600
A seller decided to back out of a sales contract for no good reason. What recourse
does the buyer have? - correct answer-To sue for specific performance.
2026–2027: Practice Questions & Exam
Preparation
Why is the condition of bearing walls more important than non bearing walls? -
correct answer-Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - correct answer-transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years?
- correct answer-Stabilized budget
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? - correct answer-Lena should explain to the
buyer that she ethically and legally cannot recommend housing based on national
origin.
Which of the following wills may be considered invalid? - correct answer-A will
that is not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - correct answer-Performance Expectations
, Which of the following statements best describes what happens with a judicial
foreclosure? - correct answer-The mortgaged property is sold under the
supervision of a court.
Which of the following best describes the principle of conformity? - correct
answer-A home maintains its highest value by being in a neighborhood with
similar-type housing.
The cost of doing direct mail advertising depends on - correct answer-The
frequency of the mailings
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 - correct answer-open-end mortgage
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? - correct answer-The $2,500 property tax lien
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? - correct answer-$5,600
A seller decided to back out of a sales contract for no good reason. What recourse
does the buyer have? - correct answer-To sue for specific performance.
