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PA NATIONAL PRACTICE EXAM - COLIBRI REAL ESTATE QUESTIONS WITH COMPLETE ANSWERS.
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PA NATIONAL PRACTICE EXAM - COLIBRI REAL ESTATE QUESTIONS WITH COMPLETE ANSWERS.
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PA NATIONAL PRACTICE EXAM -COLIBRI REAL ESTATE QUESTIONS
WITH COMPLETE ANSWERS
Earl qqorally qqagreed qqto qqan qq18-month qqlease qqwith qqlandlord qqBlake. qqIs qqthis
qqcontract qqenforceable?
Yes, qqall qqoral qqleases qqare qqenforceable.
No, qqall qqleases qqfor qqlonger qqthan qqone qqyear qqmust qqbe qqin qqwriting qqto qqbe
qqenforceable.
Yes, qqall qqleases qqfor qqlonger qqthan qq6 qqmonths qqare qqenforceable.
No, qqit qqis qqnot qqenforceable qqunless qqEarl qqis qqolder qqthan qq50 qqyears qqold. qq-
qqCorrect qqAnswer qq- qqNo, qqall qqleases qqfor qqlonger qqthan qqone qqyear qqmust qqbe qqin
qqwriting qqto qqbe qqenforceable.
On qqa qq$280,000 qqloan, qqthe qqlender qqcharges qqa qq2 qqpoint qqservice qqcharge. qqHow
qqmuch qqdoes qqthe qqborrower qqhave qqto qqpay qqfor qqjust qqthese qqtwo qqpoints?
$28,000
$560
$2,800
$5,600 qq- qqCorrect qqAnswer qq- qq$5,600
160 qqCounty qqDrive qqhas qq4 qqacres qqof qqopen qqpasture qqand qqa qq1,900 qqsquare
qqfoot qqhome. qqThe qqhome qqhas qq2 qqbedrooms qqand qq4 qqbathrooms. qqCall qq555-
555-5555 qqnow qqfor qqinformation! qqWhat qqis qqmissing qqfrom qqthis qqadvertisement
qqthat qqmakes qqit qqa qqblind qqad?
The qqprice
The qqbroker's qqidentification
The qqreason qqthe qqproperty qqis qqfor qqsale
How qqlong qqthe qqproperty qqhas qqbeen qqon qqthe qqmarket qq- qqCorrect qqAnswer qq-
qqbrokers qqidentification
A(n) qq________ qqis qqone qqthat qqconflicts qqwith qqthe qqordinances qqthat qqwere
qqenacted qqafter qqthe qquse qqcommenced.
illegal qqconforming qquse
enhanced qqnonconforming qquse
escheat qquse
legal qqnonconforming qquse qq- qqCorrect qqAnswer qq- qqlegal qqnonconforming qquse
,Why qqis qqthe qqcondition qqof qqbearing qqwalls qqmore qqimportant qqthan qqnon-bearing
qqwalls?
Bearing qqwalls qqprotect qqthe qqhome qqfrom qqthe qqoutdoor qqelements qqand qqradon
qqgas.
Bearing qqwalls qqare qqpart qqof qqthe qqinterior qqframework qqof qqthe qqhouse.
Bearing qqwalls qqsupport qqthe qqceiling qqand qqthe qqroof.
Bearing qqwalls qqare qqmuch qqweaker qqthan qqnon-bearing qqwalls. qq- qqCorrect qqAnswer
qq- qqBearing qqwalls qqsupport qqthe qqceiling qqand qqthe qqroof.
The qqcost qqto qqreplace qqan qqimprovement qqwith qqoriginal qqmaterials qqis qqknown qqas
replacement qqcost.
placebo qqcost.
cloning qqcost.
reproduction qqcost. qq- qqCorrect qqAnswer qq- qqreproduction qqcost
Real qqestate qqlicensees qqshould qqknow qqenough qqabout qqbuilding qqordinances qqto
qqbe qqable qqto
conduct qqa qqprofessional qqhome qqinspection.
provide qqsolid qqlegal qqadvice.
answer qqall qqclient qqquestions qqabout qqa qqbuilding's qqcompliance.
alert qqclients qqof qqpotential qqproblems qqin qqa qqhome. qq- qqCorrect qqAnswer qq- qqalert
qqclients qqof qqpotential qqproblems qqin qqa qqhome.
Which qqparties qqtypically qqpurchase qqtitle qqinsurance qqonce qqthe qqtransaction qqis
qqcomplete?
The qqHUD qqand qqseller
The qqlender qqand qqbuyer
The qqlicensee qqand qqbuyer
The qqbroker qqand qqlender qq- qqCorrect qqAnswer qq- qqThe qqlender qqand qqbuyer
Broker qqAustin qqrepresents qqa qqparty qqin qqa qqtransaction qqwhere qqthere qqis qqa
qqdispute qqregarding qqthe qqdeposited qqescrow qqmoney. qqWhat qqshould qqAustin qqdo?
Hold qqthe qqmoney qquntil qqboth qqparties qq(or qqtheir qqlawyers) qqprovide qqa qqwritten
qqrelease.
Claim qqthe qqescrow qqmoney qqfor qqhimself qqand qqmove qqit qqinto qqhis qqpersonal
qqaccount.
Split qqthe qqmoney qqevenly qqbetween qqthe qqbuyer qqand qqseller qqand qqlet qqthem qqfight
qqit qqout.
Immediately qqrelease qqthe qqmoney qqto qqthe qqparty qqhe qqrepresents. qq- qqCorrect
qqAnswer qq- qqHold qqthe qqmoney qquntil qqboth qqparties qq(or qqtheir qqlawyers) qqprovide
qqa qqwritten qqrelease.
What qqis qqa qqdisadvantage qqof qqreal qqestate qqinvestment?
There qqis qqvery qqlow qqrisk.
It qqis qqnot qqhighly qqliquid.
, The qqcost qqof qqimprovements qqmay qqbe qqdepreciated qqor qqdeducted qqover qqan
qqarbitrary qqperiod qqof qqtime.
Real qqEstate qqhas qqshown qqan qqabove qqaverage qqrate qqof qqreturn. qq- qqCorrect
qqAnswer qq- qqIt qqis qqnot qqhighly qqliquid.
A qqtype qqof qqmortgage qqwhich qqallows qqthe qqlender qqto qqincrease qqthe qqoutstanding
qqbalance qqof qqa qqloan qqup qqto qqthe qqoriginal qqamount qqof qqthe qqloan qqin qqorder qqto
qqadvance qqadditional qqfunds qqis qqcalled qqan
wraparound qqmortgage.
take-out qqmortgage.
open-end qqmortgage.
spiral qqmortgage. qq- qqCorrect qqAnswer qq- qqopen-end qqmortgage.
If qqa qqcooperating qqbroker qqaccepts qqthe qqoffer qqof qqsubagency qqfrom qqa qqlisting
qqbroker, qqto qqwhom qqdoes qqthe qqcooperating qqbroker qqowe qqfiduciary qqduties?
Seller
Listing qqbroker
Buyer
Nobody qq- qqCorrect qqAnswer qq- qqseller
Homeowner qqLouise qqhas qqbeen qqlax qqin qqprotecting qqher qqproperty qqrights.
qqAccording qqto qqthe qq___________, qqLouise qqmay qqlose qqthose qqproperty qqrights.
Doctrine qqof qqDe qqJure
Doctrine qqof qqLaches
Stringent qqTheory
Torrens qqTheory qq- qqCorrect qqAnswer qq- qqDoctrine qqof qqLaches
The qqDoctrine qqof qqLaches qqstates qqthat qqif qqa qqproperty qqowner qqis qqlax qqin
qqprotecting qqhis qqor qqher qqrights, qqthe qqproperty qqowner qqmay qqlose qqthose qqrights.
The qqessential qqcriteria qqfor qqan qqacceptable qqlegal qqdescription qqis qqthat qqit
only qqcontains qqthe qqmailing qqaddress.
accurately qqlocates qqthe qqparcel qqwhen qqusing qqGoogle qqMaps.
accurately qqlocates qqthe qqparcel qqin qqthe qqopinion qqof qqa qqcourt.
includes qqat qqleast qq2 qqlandmarks. qq- qqCorrect qqAnswer qq- qqaccurately qqlocates qqthe
qqparcel qqin qqthe qqopinion qqof qqa qqcourt.
Which qqis qqfalse qqregarding qqa qqpromissory qqnote?
The qqproperty qqis qqcollateral qqfor qqthe qqpromissory qqnote.
A qqpromissory qqnote qqis qqa qqnegotiable qqinstrument, qqwhich qqmeans qqthat qqthe
qqlender qqcan qqsell qqthe qqnote qqto qqa qqthird qqparty.
It qqis qqthe qqprimary qqevidence qqof qqa qqloan.
It qqis qqthe qqterm qqused qqfor qqa qqnote qqthat qqis qqguaranteed qqor qqinsured qqby qqa
qqgovernmental qqagency. qq- qqCorrect qqAnswer qq- qqIt qqis qqthe qqterm qqused qqfor qqa
qqnote qqthat qqis qqguaranteed qqor qqinsured qqby qqa qqgovernmental qqagency.
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