COLIBRI REAL ESTATE PRACTICE
QUESTIONS WITH CORRECT
ANSWERS!!
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? - ANSWERJohn 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? -
ANSWERCAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - ANSWERType of property
Which of the following is NOT a condition of the safe harbor test? - ANSWERGross
income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
ANSWERCommercial
All of the following are true statements about goals except which one? -
ANSWEROnce 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? - ANSWERWhat 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? - ANSWERDeposit into the brokerage business account.
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? - ANSWER24
months
If a person believes he or she has been discriminated against, how long does he or
she have to file a HUD complaint? - ANSWER1 year
, Which California Fair Housing law provides protection from discrimination by
business establishments? - ANSWERUnruh 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? - ANSWERPanic
selling
Which of the following is not a source of information for professional ethics codes? -
ANSWERReal estate schools
How long must trust account records be kept? - ANSWER3 years
Which is not a true statement about the Americans with Disabilities Act? -
ANSWERA 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? -
ANSWERHousing and Community Development Act
Which of these is not an exemption to fair housing law? - ANSWERThe 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? - ANSWER7 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"? - ANSWERThe owner of the
property is HIV positive.
The principles of an agency relationship include all of these factors except which
one? - ANSWERCompensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? -
ANSWERBlind obedience
Which disclosure form gives detailed information about the property's condition? -
ANSWERReal Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? -
ANSWERDesignated agency
When must a listing agent present the Disclosure Regarding Real Estate Agency
Relationships to the seller? - ANSWERPrior 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? -
ANSWER24 months
QUESTIONS WITH CORRECT
ANSWERS!!
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? - ANSWERJohn 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? -
ANSWERCAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - ANSWERType of property
Which of the following is NOT a condition of the safe harbor test? - ANSWERGross
income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
ANSWERCommercial
All of the following are true statements about goals except which one? -
ANSWEROnce 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? - ANSWERWhat 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? - ANSWERDeposit into the brokerage business account.
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? - ANSWER24
months
If a person believes he or she has been discriminated against, how long does he or
she have to file a HUD complaint? - ANSWER1 year
, Which California Fair Housing law provides protection from discrimination by
business establishments? - ANSWERUnruh 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? - ANSWERPanic
selling
Which of the following is not a source of information for professional ethics codes? -
ANSWERReal estate schools
How long must trust account records be kept? - ANSWER3 years
Which is not a true statement about the Americans with Disabilities Act? -
ANSWERA 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? -
ANSWERHousing and Community Development Act
Which of these is not an exemption to fair housing law? - ANSWERThe 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? - ANSWER7 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"? - ANSWERThe owner of the
property is HIV positive.
The principles of an agency relationship include all of these factors except which
one? - ANSWERCompensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? -
ANSWERBlind obedience
Which disclosure form gives detailed information about the property's condition? -
ANSWERReal Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? -
ANSWERDesignated agency
When must a listing agent present the Disclosure Regarding Real Estate Agency
Relationships to the seller? - ANSWERPrior 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? -
ANSWER24 months
