colibri real estate law exam study questions and answers with complete solutions 2024

The discovery step of civil cases is where the parties use a mediator. the complaint is filed. each party presents their case. each party gathers information from each other and third parties. - each party gathers information from each other and third parties. What phrase could a licensee use in advertising that would not discriminate on the basis of familial status? Couples only Empty nesters No bicycles allowed Senior discount - Senior discount Who is charged with the responsibility of making sure that owners do not use their property in a way that will harm the public? The Real Estate Commission The HOA The government The zoning committee - The HOA What type of residential survey, also called a drive-by survey, is designed to show the location of the house and other large structures on the property? A house location survey A cadastral land survey A site survey A boundary survey - A house location survey What type of lien is one placed against any and all real and personal property owned by a particular debtor? A specific lien A general lien A senior lien A junior lien - A general lien What describes when a borrower requests that the lender replace him or her on the loan instrument with a new buyer who must go through a process of full substitution? Restoration Novation Successor Renewal - Novation When working with any client, the broker's job is to protect the broker's interest. protect the client's interest. get the best price. establish a good rapport. - protect the client's interest. In creating a joint tenancy, there are four unities. Which of the following is NOT one of the four? Unity of Time Unity of Possession Unity of Interest Unity of Origination - Unity of Origination The collection of Roman law contributed the model for which type of law? Civil law Criminal law Case law Common law - Civil law What term, in the California Civil Code addressing mobile home residency, describes the right of a homeowner to use the site within a mobile home park? Leasehold Specific use Tenancy Propriety - Tenancy Who serves as the chief executive of the Department of Real Estate in California? The CEO of CalDRE The California Real Estate Commissioner The California Executive Branch The Chief Executive Officer of California - The California Real Estate Commissioner What have lenders established to protect borrowers from unlimited increases in the interest rate? Mortgage caps Rate caps Payment caps Amortization caps - Rate caps What type of contract consists of obligations arising from a mutual agreement and intent to promise where the agreement and promise have not been expressed in words? An unconscionable contract An aleatory contract An implied contract A unilateral contract - An implied contract Who are the primary regulatory entities of the real estate business? The real estate commission Local governments State governments City governments - State governments The rectangular survey system divides a township into thirty six squares called blocks. sections. parcels. lots. - sections. What describes plants or crops that are considered personal property since human intervention is necessary for planting and harvesting? Appurtenances Conservation Fodder Emblements - Emblements What doctrine states that if a property owner is lax in protecting his or her rights, the property owner may lose those rights? The Doctrine of Reapportionment The Doctrine of Laches The Act of State Doctrine The Cumulative Rights Doctrine - The Doctrine of Laches Who sets the amount or rate of real estate commissions? The real estate board The escrow agent The lender The broker - The broker California requires that deaths that occurred within the past three years be disclosed unless an occupant of the property dies with, or as a result of, cancer. leukemia. environmental factors. AIDS. - AIDS. What is a Real Estate Investment Trust (REIT)? A syndicate of working real estate professionals A syndicate of people looking for their first home