colibri real estate practice
Which of the following would be an example of a licensee specializing in business type? - ✔✔ correct
answer Jim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - ✔✔ correct answer A broker is not responsible for the
acts of independent contractors.
Which of these statements is true? - ✔✔ correct answer Salespersons must perform all of their activities
on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker John? - ✔✔ correct
answer John expects his agents to spend 5 hours a week on unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - ✔✔ correct answer CAR
Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall
into? - ✔✔ correct answer Type of property
Which of the following is NOT a condition of the safe harbor test? - ✔✔ correct answer Gross income
must be based on hours worked.
A shopping center would be primarily categorized as what type of property? - ✔✔ correct answer
Commercial
All of the following are true statements about goals except which one? - ✔✔ correct answer Once you
set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these activities does she
have control over? - ✔✔ correct answer What percent of commission the licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? -
✔✔ correct answer Deposit into the brokerage business account.
,colibri real estate practice
A person who believes he or she has been discriminated against has how long from the time of the
alleged violation to file a suit in a state or federal court? - ✔✔ correct answer 24 months
If a person believes he or she has been discriminated against, how long does he or she have to file a HUD
complaint? - ✔✔ correct answer 1 year
Which California Fair Housing law provides protection from discrimination by business establishments? -
✔✔ correct answer Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This
broker is guilty of what prohibited activity? - ✔✔ correct answer Panic selling
Which of the following is not a source of information for professional ethics codes? - ✔✔ correct answer
Real estate schools
How long must trust account records be kept? - ✔✔ correct answer 3 years
Which is not a true statement about the Americans with Disabilities Act? - ✔✔ correct answer A duplex
owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - ✔✔ correct answer Housing and
Community Development Act
Which of these is not an exemption to fair housing law? - ✔✔ correct answer The sale of a single-family
home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after signing the
purchase contract? - ✔✔ correct answer 7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests -- both what
Paul knows and what he "should have known." Which of these situations would not be something Paul
"should know"? - ✔✔ correct answer The owner of the property is HIV positive.
, colibri real estate practice
The principles of an agency relationship include all of these factors except which one? - ✔✔ correct
answer Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? - ✔✔ correct answer
Blind obedience
Which disclosure form gives detailed information about the property's condition? - ✔✔ correct answer
Real Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? - ✔✔ correct answer Designated
agency
When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the
seller? - ✔✔ correct answer Prior to accepting the listing.
If an agent does not comply with the requirement of conducting a visual inspection of a property, how
long after possession does the buyer have to file a suit? - ✔✔ correct answer 24 months
Which booklet is not part of the Combined Hazards Book? - ✔✔ correct answer Consumer Guide to
Disclosure for Buyers
Which disclosure is required by the Real Estate Settlement Procedures Act? - ✔✔ correct answer Good
faith estimate
All of these are true of prospecting except: - ✔✔ correct answer It guarantees sales.
Developing a prospecting plan is similar to: - ✔✔ correct answer Establishing goals.
Which of these Internet pages might be of particular interest to sellers? - ✔✔ correct answer Staging a
home
Inspection tips
Which of the following would be an example of a licensee specializing in business type? - ✔✔ correct
answer Jim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - ✔✔ correct answer A broker is not responsible for the
acts of independent contractors.
Which of these statements is true? - ✔✔ correct answer Salespersons must perform all of their activities
on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker John? - ✔✔ correct
answer John expects his agents to spend 5 hours a week on unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - ✔✔ correct answer CAR
Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall
into? - ✔✔ correct answer Type of property
Which of the following is NOT a condition of the safe harbor test? - ✔✔ correct answer Gross income
must be based on hours worked.
A shopping center would be primarily categorized as what type of property? - ✔✔ correct answer
Commercial
All of the following are true statements about goals except which one? - ✔✔ correct answer Once you
set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these activities does she
have control over? - ✔✔ correct answer What percent of commission the licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? -
✔✔ correct answer Deposit into the brokerage business account.
,colibri real estate practice
A person who believes he or she has been discriminated against has how long from the time of the
alleged violation to file a suit in a state or federal court? - ✔✔ correct answer 24 months
If a person believes he or she has been discriminated against, how long does he or she have to file a HUD
complaint? - ✔✔ correct answer 1 year
Which California Fair Housing law provides protection from discrimination by business establishments? -
✔✔ correct answer Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This
broker is guilty of what prohibited activity? - ✔✔ correct answer Panic selling
Which of the following is not a source of information for professional ethics codes? - ✔✔ correct answer
Real estate schools
How long must trust account records be kept? - ✔✔ correct answer 3 years
Which is not a true statement about the Americans with Disabilities Act? - ✔✔ correct answer A duplex
owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - ✔✔ correct answer Housing and
Community Development Act
Which of these is not an exemption to fair housing law? - ✔✔ correct answer The sale of a single-family
home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after signing the
purchase contract? - ✔✔ correct answer 7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests -- both what
Paul knows and what he "should have known." Which of these situations would not be something Paul
"should know"? - ✔✔ correct answer The owner of the property is HIV positive.
, colibri real estate practice
The principles of an agency relationship include all of these factors except which one? - ✔✔ correct
answer Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? - ✔✔ correct answer
Blind obedience
Which disclosure form gives detailed information about the property's condition? - ✔✔ correct answer
Real Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? - ✔✔ correct answer Designated
agency
When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the
seller? - ✔✔ correct answer Prior to accepting the listing.
If an agent does not comply with the requirement of conducting a visual inspection of a property, how
long after possession does the buyer have to file a suit? - ✔✔ correct answer 24 months
Which booklet is not part of the Combined Hazards Book? - ✔✔ correct answer Consumer Guide to
Disclosure for Buyers
Which disclosure is required by the Real Estate Settlement Procedures Act? - ✔✔ correct answer Good
faith estimate
All of these are true of prospecting except: - ✔✔ correct answer It guarantees sales.
Developing a prospecting plan is similar to: - ✔✔ correct answer Establishing goals.
Which of these Internet pages might be of particular interest to sellers? - ✔✔ correct answer Staging a
home
Inspection tips
