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COLIBRI REAL ESTATE CHAPTER 2 QUIZ QUESTIONS & ANSWERS(RATED +)

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An agency relationship may be involuntarily terminated by which of the following? - ANSWERBy destruction of the property through fire, vandalism, or natural disaster When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes - ANSWERA subagent An agency relationship may be involuntarily terminated by which of the following? - ANSWERCondemnation of the property Sally is a subagent working for Seller Pat. What...

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COLIBRI REAL ESTATE CHAPTER 1 CORRECT 100%

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What five economic characteristics affect the value of land in the marketplace? (D.U.S.T.S) - ANSWER1. Demand; The more demand a property has, the higher the value 2. Utility (Or usefulness); More space/rooms etc.. the more useful .. 3 bed 4 bath > 1 bed 2 bath 3. Scarcity; A property will sell quickly if limited property's available 4. Transferability; Real estate is readily transferable from seller to buyer (loans available, rates are low) 5. Situs; (Site) Unique property attractiven...

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NYS COLIBRI REAL ESTATE FINAL EXAM CORRECT 100%

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Expressed Agency - ANSWERAn agency created in a written or oral agreement General Agent - ANSWEROne who is authorized by a principal to represent the principal in a specific range of matters Misrepresentation - ANSWERA false statement or lie that can render the contract void Obedience - ANSWERThe fiduciary relationship obligates the agent to act in good faith at all times, obeying the client's instructions in accordance with the contract Price Fixing - ANSWERAn antitrust violation...

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COLIBRI REAL ESTATE PRACTICE FINAL EXAM QUESTIONS & ANSWERS(RATED A+)

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Why is the condition of bearing walls more important than non bearing walls? - ANSWERBearing 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 - ANSWERtransferred a portion of his bundle of rights Which of the following wills may be considered invalid? - ANSWERA will that is not signed. Broker Torrey hires salesperson Wes as an independent contractor. As an independent contractor, Wes can expect whi...

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FINAL EXAM-COLIBRI REAL ESTATE QUESTIONS & ANSWERS(RATED A+)

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1. All six members of the Georgia Real Estate Commission are appointed by - ANSWERThe Governor of Georgia How many commission members must be licensed - ANSWERFive of the six members of the Georgia Real Estate can have licenses One must be an unlicensed member of the " general public 3. EARLNOTES What must happen with all funds in a sale - ANSWERAll money that belongs to clients or customers must be deposited in the brokerage trust fund as soon as possible ASAP after receipt . What i...

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COLIBRI REAL ESTATE TEST QUESTIONS & ANSWERS(SCORED A+)

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What is the primary purpose of instituting FACTA? - ANSWERTo combat identity theft, and enhance the accuracy and privacy of information held by credit reporting agencies. What does a For Sale By Owner(FSBO) seller sign that identifies the buyer, and guarantees the agent a commission if the buyer purchases? - ANSWERCommission Agreement for Sale What clause allows for parcels and units to be sold from a blanket mortgage? - ANSWERRelease Clause To avoid litigation, what should all Real Est...

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COLIBRI UNIT 1 QUESTIONS & ANSWERS 100% CORRECT!!

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List four industries that are indirectly linked to real estate activities. - ANSWERBuilders, building suppliers, carpet manufacturers, appliance sales How is a property manager defined? - ANSWERA 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. - ANSWERNational Association of REALTORS® Indiana Association of REALTORS® Indiana Commercial Boar...

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PA NATIONAL PRACTICE EXAM - COLIBRI REAL ESTATE QUESTIONS & ANSWERS(GRADED A+)

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Earl orally agreed to an 18-month lease with landlord Blake. Is this contract enforceable? Yes, all oral leases are enforceable. No, all leases for longer than one year must be in writing to be enforceable. Yes, all leases for longer than 6 months are enforceable. No, it is not enforceable unless Earl is older than 50 years old. - ANSWERNo, all leases for longer than one year must be in writing to be enforceable. On a $280,000 loan, the lender charges a 2 point service charge. How much do...

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COLIBRI REAL ESTATE PRACTICE QUESTIONS WITH CORRECT ANSWERS!!

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Which of the following would be an example of a licensee specializing in business type? - ANSWERJim specializes in clients who want to buy restaurants. Which of the following statements is not true? - ANSWERA broker is not responsible for the acts of independent contractors. Which of these statements is true? - ANSWERSalespersons 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?...

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COLIBRI REAL ESTATE FINAL EXAM QUESTIONS WITH CORRECT ANSWERS!!

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land contract - ANSWERbuyer pays seller to occupy and use property net lease - ANSWERbuyer pays rent and other expenses gross lease - ANSWERbuyer pays only rent goes to heirs - ANSWERTenants in common, 2 of 3 people die. Who gets the property of those who died? Tenant owns it in severality - ANSWERJoint Tenancy, 3 of 4 people die. Who gets property of those who died? Client - ANSWERAnother word for principal race, nat. origin, sex, color, religion, disability, familial status -...

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