Colibri Real Estate Practice Final Exam With 100%
Verified Answers Graded A+
Why is the condition of bearing walls more important than non bearing walls? - -
Page | 1 Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - -transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years? - -
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? - -Lena should explain to the buyer that she ethically and legally cannot
recommend housing based on national origin.
Which of the following wills may be considered invalid? - -A will that is not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an independent
contractor, Wes can expect which of the following from Broker Torrey? - -
Performance Expectations
Which of the following statements best describes what happens with a judicial
foreclosure? - -The mortgaged property is sold under the supervision of a court.
Which of the following best describes the principle of conformity? - -A home
maintains its highest value by being in a neighborhood with similar-type housing.
, The cost of doing direct mail advertising depends on - -The frequency of the mailings
Page | 2
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 -
-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? - -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? - -$5,600
A seller decided to back out of a sales contract for no good reason. What recourse does the
buyer have? - -To sue for specific performance.
What are the primary advantages of PEX piping? - -PEX piping is able to withstand
both high and low temperatures and it is highly resistant to chemicals.
How does Planned Unit Development zoning differ from ordinary zoning? - -I requires
that multiple tracts of land be developed according to a single design for efficient use of
space.
Home Hoarding Realty is advertising to the public that their managing broker has been in
the business 37 years and has sold over 1,250 homes. This is an example of - -
institutional advertising
Verified Answers Graded A+
Why is the condition of bearing walls more important than non bearing walls? - -
Page | 1 Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - -transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years? - -
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? - -Lena should explain to the buyer that she ethically and legally cannot
recommend housing based on national origin.
Which of the following wills may be considered invalid? - -A will that is not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an independent
contractor, Wes can expect which of the following from Broker Torrey? - -
Performance Expectations
Which of the following statements best describes what happens with a judicial
foreclosure? - -The mortgaged property is sold under the supervision of a court.
Which of the following best describes the principle of conformity? - -A home
maintains its highest value by being in a neighborhood with similar-type housing.
, The cost of doing direct mail advertising depends on - -The frequency of the mailings
Page | 2
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 -
-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? - -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? - -$5,600
A seller decided to back out of a sales contract for no good reason. What recourse does the
buyer have? - -To sue for specific performance.
What are the primary advantages of PEX piping? - -PEX piping is able to withstand
both high and low temperatures and it is highly resistant to chemicals.
How does Planned Unit Development zoning differ from ordinary zoning? - -I requires
that multiple tracts of land be developed according to a single design for efficient use of
space.
Home Hoarding Realty is advertising to the public that their managing broker has been in
the business 37 years and has sold over 1,250 homes. This is an example of - -
institutional advertising
