COLIBRI REAL ESTATE
PRACTICE FINAL EXAM
WITH QUESTIONS AND
WELL VERIFIED ANSWERS
Why is the condition of bearing walls more important than non
bearing walls? - ANS✔✔---Bearing walls support the ceiling
and the roof.
What is a forecast of income and expenses that can be projected
over five years? - ANS✔✔---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? - ANS✔✔---Lena should explain to the buyer that she
ethically and legally cannot recommend housing based on
national origin.
, Owner Tom decided to lease out his basement to a college
student. By leasing the basement, Tom has - ANS✔✔---
transferred a portion of his bundle of rights
Which of the following wills may be considered invalid? -
ANS✔✔---A will that is not signed.
Which of the following statements best describes what happens
with a judicial foreclosure? - ANS✔✔---The mortgaged property
is sold under the supervision of a court.
Which of the following best describes the principle of conformity?
- ANS✔✔---A home maintains its highest value by being in a
neighborhood with similar-type housing.
The cost of doing direct mail advertising depends on - ANS✔✔-
--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 -
ANS✔✔---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? -
ANS✔✔---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? - ANS✔✔---$5,600
PRACTICE FINAL EXAM
WITH QUESTIONS AND
WELL VERIFIED ANSWERS
Why is the condition of bearing walls more important than non
bearing walls? - ANS✔✔---Bearing walls support the ceiling
and the roof.
What is a forecast of income and expenses that can be projected
over five years? - ANS✔✔---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? - ANS✔✔---Lena should explain to the buyer that she
ethically and legally cannot recommend housing based on
national origin.
, Owner Tom decided to lease out his basement to a college
student. By leasing the basement, Tom has - ANS✔✔---
transferred a portion of his bundle of rights
Which of the following wills may be considered invalid? -
ANS✔✔---A will that is not signed.
Which of the following statements best describes what happens
with a judicial foreclosure? - ANS✔✔---The mortgaged property
is sold under the supervision of a court.
Which of the following best describes the principle of conformity?
- ANS✔✔---A home maintains its highest value by being in a
neighborhood with similar-type housing.
The cost of doing direct mail advertising depends on - ANS✔✔-
--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 -
ANS✔✔---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? -
ANS✔✔---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? - ANS✔✔---$5,600
