Colibri Unit 1 Exam 2025 With 100%
Correct Answers
List four industries that are indirectly linked to real estate activities. - correct answers
✔✔Builders, building suppliers, carpet manufacturers, appliance sales
List five industries that are dependent on real estate activity. - correct answers ✔✔Loan
originatorsAppraisersPlumbersAuctioneersLandscape suppliers
List three ways the state government plays a role in real estate. - correct answers ✔✔Licensing
for real estate professionalsRecording of deeds, transfers of propertyEstate taxes
Define real estate brokerage and list three organizations that cannot be registered as a real
estate brokerage. - correct answers ✔✔A business which brings interested parties together to
sell, lease, and rent or exchange real property.
A joint venture temporary relationship
A business trust investment group for its own purposes
A homeowners association
List five activities for which a real estate broker would receive or expect to receive
compensation. - correct answers ✔✔Selling real estate
Negotiating the sale of real estate
Dealing in options on real estate
Supervising the collection of rent for the use of real estate
Procuring of leads intended to result in the sale of real estate
, What is real estate farming? - correct answers ✔✔Specializing in one particular geographic area
or property type.
How is a property manager defined? - correct answers ✔✔A property manager is defined as
one who preserves the value of an investment (by an owner) while generating income as an
agent for the owner.
List five organizations for real estate professionals. - correct answers ✔✔National Association of
REALTORS®
Indiana Association of REALTORS®
Indiana Commercial Board of REALTORS®
Women's Council of REALTORS®
Real Estate Buyers Council
What is the purpose for licensing real estate professionals? - correct answers ✔✔To protect the
public
List two examples of ways a broker could commit fraud in a real estate transaction. - correct
answers ✔✔Exaggerating the benefits of a property's value
Not providing information on material facts
What is the main requirement within the Statute of Frauds - correct answers ✔✔All contracts
must be in writing to be enforceable.
What rule should brokers follow to ensure they are acting ethically? - correct answers ✔✔Do
unto others as you would have them do unto you.
List four reasons an appraisal is done. - correct answers ✔✔To obtain a property loan
To obtain the insurance value
Correct Answers
List four industries that are indirectly linked to real estate activities. - correct answers
✔✔Builders, building suppliers, carpet manufacturers, appliance sales
List five industries that are dependent on real estate activity. - correct answers ✔✔Loan
originatorsAppraisersPlumbersAuctioneersLandscape suppliers
List three ways the state government plays a role in real estate. - correct answers ✔✔Licensing
for real estate professionalsRecording of deeds, transfers of propertyEstate taxes
Define real estate brokerage and list three organizations that cannot be registered as a real
estate brokerage. - correct answers ✔✔A business which brings interested parties together to
sell, lease, and rent or exchange real property.
A joint venture temporary relationship
A business trust investment group for its own purposes
A homeowners association
List five activities for which a real estate broker would receive or expect to receive
compensation. - correct answers ✔✔Selling real estate
Negotiating the sale of real estate
Dealing in options on real estate
Supervising the collection of rent for the use of real estate
Procuring of leads intended to result in the sale of real estate
, What is real estate farming? - correct answers ✔✔Specializing in one particular geographic area
or property type.
How is a property manager defined? - correct answers ✔✔A property manager is defined as
one who preserves the value of an investment (by an owner) while generating income as an
agent for the owner.
List five organizations for real estate professionals. - correct answers ✔✔National Association of
REALTORS®
Indiana Association of REALTORS®
Indiana Commercial Board of REALTORS®
Women's Council of REALTORS®
Real Estate Buyers Council
What is the purpose for licensing real estate professionals? - correct answers ✔✔To protect the
public
List two examples of ways a broker could commit fraud in a real estate transaction. - correct
answers ✔✔Exaggerating the benefits of a property's value
Not providing information on material facts
What is the main requirement within the Statute of Frauds - correct answers ✔✔All contracts
must be in writing to be enforceable.
What rule should brokers follow to ensure they are acting ethically? - correct answers ✔✔Do
unto others as you would have them do unto you.
List four reasons an appraisal is done. - correct answers ✔✔To obtain a property loan
To obtain the insurance value
