Colibri Real Estate (Real Estate Express) Final Exam
Review/ Exam Questions with Correct Answers/
Rated A+
Which of these is NOT considered when determining whether an item is a fixture or personal property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties - ANSWER - C) value of the annexed item
RESPA applies to financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
D) only single-family dwellings - ANSWER - C) one- to four-family residences
pg. 1
,Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop" - ANSWER - D) "three-car garage with room for a
workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet - ANSWER - B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and Amanda. As
they gather at the settlement table, Kim has stacks of documents that need to be signed in order to
complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim - ANSWER - B) Greg and Ashley
Which is an example of steering?
A) a licensee tells homeowner that their property values will drop when a foreign family moves in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse building.
pg. 2
,D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity. - ANSWER - C) a
property manager suggests a prospective tenant would be happier in a more diverse building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is set to
increase 10% every month for the next 18 months as business takes off. Lester has what kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease - ANSWER - A) graduated lease
When Dave and Lucy get married, they decide to sell each of their homes and buy one house together.
Lucy's house sells for $700,000; Dave's house sells for $300,000, and they're going to buy a $1 million
house. If Lucy wants a 70% interest in the new house, what form of ownership must they take?
A) joint tenancy
B) tenancy in common
C) tenancy by the entirety
D) tenancy in severalty - ANSWER - B) tenancy in common
A property is listed for $200,000. The broker gets an offer from Gina for $150,000 cash with a closing in
90 days, one from Tim at $155,000, subject to the buyer getting a first mortgage for $130,000, an offer
from Shari at $190,000 subject to the owner taking back a purchase money mortgage with closing in 30
days. The broker should disclose which offer(s)?
A) all of the offers
B) none of the offers, as they are all below the asking price
C) only the first offer until the seller makes a decision to accept or reject, then present the next offer
D) whichever offer is the highest and has the most favorable terms to the seller - ANSWER - A) all of the
offers
Broker Jane has been accused of a law violation regarding commissions. Which of the following might
result in her being found guilty?
pg. 3
, A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto
accident. The deceased licensee had earned the commission prior to his death.
C) Jane paid a commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for licensing activity in
Georgia. - ANSWER - D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for
licensing activity in Georgia.
Which of the following is NOT a protected class under Georgia fair housing law?
A) Sexual preference
B) Familial status
C) Religion
D) Race - ANSWER - A) Sexual preference
Syed is an inactive licensee. He just moved to a new home across town. What must he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the Commission. - ANSWER - C) Send a
written notice to the Commission within 30 days.
How many hours of continuing education must a licensee complete for each year of licensure?
A) 8 hours
B) 9 hours
C) 5 hours
D) 4 hours - ANSWER - B) 9 hours
pg. 4
Review/ Exam Questions with Correct Answers/
Rated A+
Which of these is NOT considered when determining whether an item is a fixture or personal property?
A) intention of the annexer
B) manner of annexation
C) value of the annexed item
D) relationship of the parties - ANSWER - C) value of the annexed item
RESPA applies to financed by a federally regulated loan.
A) any commercial or residential property
B) any residential property
C) one- to four-family residences
D) only single-family dwellings - ANSWER - C) one- to four-family residences
pg. 1
,Of these, which is LEAST LIKELY to be considered an example of puffing?
A) "like being on vacation every day"
B) "loveliest street in the whole town"
C) "magnificent chef-inspired kitchen"
D) "three-car garage with room for a workshop" - ANSWER - D) "three-car garage with room for a
workshop"
Friable particles from asbestos are most likely to be a danger to one's health when they are
A) encapsulated
B) inhaled
C) touched
D) wet - ANSWER - B) inhaled
Kim is the title officer handling the transfer of Greg and Ashley's house to buyers Alex and Amanda. As
they gather at the settlement table, Kim has stacks of documents that need to be signed in order to
complete the transaction. Who signs the deed?
A) Alex and Amanda
B) Greg and Ashley
C) Greg, Ashley, Alex and Amanda
D) Greg, Ashley and Kim - ANSWER - B) Greg and Ashley
Which is an example of steering?
A) a licensee tells homeowner that their property values will drop when a foreign family moves in.
B) a mortgage banker refuses to make loans for a particular inner-city neighborhood.
C) a property manager suggests a prospective tenant would be happier in a more diverse building.
pg. 2
,D) a seller tells his listing agent to find buyer prospects only of a specific ethnicity. - ANSWER - C) a
property manager suggests a prospective tenant would be happier in a more diverse building.
Lester leases a storefront for his candy business. The rent the first six months was $500 and is set to
increase 10% every month for the next 18 months as business takes off. Lester has what kind of lease?
A) graduated lease
B) ground lease
C) index lease
D) percentage lease - ANSWER - A) graduated lease
When Dave and Lucy get married, they decide to sell each of their homes and buy one house together.
Lucy's house sells for $700,000; Dave's house sells for $300,000, and they're going to buy a $1 million
house. If Lucy wants a 70% interest in the new house, what form of ownership must they take?
A) joint tenancy
B) tenancy in common
C) tenancy by the entirety
D) tenancy in severalty - ANSWER - B) tenancy in common
A property is listed for $200,000. The broker gets an offer from Gina for $150,000 cash with a closing in
90 days, one from Tim at $155,000, subject to the buyer getting a first mortgage for $130,000, an offer
from Shari at $190,000 subject to the owner taking back a purchase money mortgage with closing in 30
days. The broker should disclose which offer(s)?
A) all of the offers
B) none of the offers, as they are all below the asking price
C) only the first offer until the seller makes a decision to accept or reject, then present the next offer
D) whichever offer is the highest and has the most favorable terms to the seller - ANSWER - A) all of the
offers
Broker Jane has been accused of a law violation regarding commissions. Which of the following might
result in her being found guilty?
pg. 3
, A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto
accident. The deceased licensee had earned the commission prior to his death.
C) Jane paid a commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for licensing activity in
Georgia. - ANSWER - D) Jane paid a commission to a Florida licensee who is not licensed in Georgia for
licensing activity in Georgia.
Which of the following is NOT a protected class under Georgia fair housing law?
A) Sexual preference
B) Familial status
C) Religion
D) Race - ANSWER - A) Sexual preference
Syed is an inactive licensee. He just moved to a new home across town. What must he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the Commission. - ANSWER - C) Send a
written notice to the Commission within 30 days.
How many hours of continuing education must a licensee complete for each year of licensure?
A) 8 hours
B) 9 hours
C) 5 hours
D) 4 hours - ANSWER - B) 9 hours
pg. 4
