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Colibri Chapter 1, 2, 3 Exam
The Knowledge of Property Transfer - - CORRECT ANSWER-by deed, will,
inheritance or the use of contracts, or trusts.
Knowledge of Market Conditions - - CORRECT ANSWER-the level of listings on
the market, how the property may be financed, how quickly property sells and the
value of a property
Knowledge of How to Market Real Estate - - CORRECT ANSWER-techniques
that include proper pricing, disclosure to both the buyer and the seller, service to
the buyers and sellers, and maintaining relationships with other real estate
professionals.
real estate brokerage business brings interested parties together to ... -
CORRECT ANSWER-sell, lease, rent or exchange real property.
Real estate professionals often specialize in one particular geographic area or
property type. In real estate world, this is known as . - CORRECT
ANSWER-Farming
Licensee may choose - CORRECT ANSWER-Sales
Leasing
Management
Counseling
There are Six Major Real Estate Property Types: - CORRECT
ANSWER-Residential property - a family home that is 4 units or less, or vacant
land that has been zoned for 4 units or less.
Commercial property - income producing property - retail center or an apartment
(4+ units)
Industrial property - usually manufactures or distributes products
Agricultural property - a farm or ranch land 10+ acres.
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Business opportunity - an investor purchasing an income producing business.
Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
property manager is defined as - CORRECT ANSWER-the professional who
preserves the value of an investment (by an owner) while generating income as
an agent for the owner and acts as a fiduciary to the owner.
Fiduciary is a person ... - CORRECT ANSWER-that has a duty to act primarily for
another's benefit,
four types of maintenance a property manager may be tasked to perform: -
CORRECT ANSWER-Preventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
3 Methods to determine value - CORRECT ANSWER-Appraisal - conducted by
appriasers
Broker Price Opinion - local expert opinion
Comparative Market Analysis -
3 Types of residential contruction - CORRECT ANSWER-Spec homes - inventory
Tract homes - built to certain guidelines
custom homes - built for a specific buyer
There are a variety of professional organizations which also support and endorse
the real estate business. The largest is the - CORRECT ANSWER-National
Association of REALTORS®, whose Code of Ethics and certification/designations
are influential in their goals to protect private property rights, promote home
ownership, and lobby to maintain reasonable credit and other standards at the
federal level for shelter for everyone.
Which is NOT commonly an area of federal government interference in real
property? - CORRECT ANSWER-zoning laws
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Local communities regulate real estate by - CORRECT ANSWER-creating
zoning laws.
One example of a Loan Originator would be a(n) - CORRECT ANSWER-seller
who finances more than two homes in a two year period.
2 years (3 items) - CORRECT ANSWER-1. Time an application remains effective
for state exam
2. Time pre-licensure course is effective for state exam
3. Minimum experience time for a sales associate to become a broker
4. months - CORRECT ANSWER-Minimum time for establishing residency in
Florida
5 days - CORRECT ANSWER-Minimum timeframe between submitting
fingerprints and applying for a license
5 years - CORRECT ANSWER-Time for reapplication allowance after revocation
of a license
6 months - CORRECT ANSWER-Time that FDLE will expunge fingerprint
background records from their files
10 days - CORRECT ANSWER-Time to notify DBPR/FREC of change of address
within Florida
14 hours - CORRECT ANSWER-Continuing Education Requirements after initial
Licensing period for renewal
18-24 months (2 items) - CORRECT ANSWER-Time an initial license may be
active depending upon the date of authority
Time an initial licensee MUST complete Post-Licensing Education
21 days - CORRECT ANSWER-Time for an applicant to submit for a formal
hearing if denied application for licensure
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24 Hours - CORRECT ANSWER-Time to wait to retest should applicant fail state
licensure exam
24 months - CORRECT ANSWER-Maximum time for an active license to renew
28 Hours - CORRECT ANSWER-Required education for involuntary inactive
licensees who are more than 12 months inactive
30 days (2 items) - CORRECT ANSWER-Time to review license application and
return if incomplete or missing information
Time to re-test if student fails the Pre-license course exam
45 Days - CORRECT ANSWER-Requirements for Post-licensure education for
Sales Associates
60 Days - CORRECT ANSWER-Time to notify the FREC of changing residency -
out of state
60 Hours - CORRECT ANSWER-Requirements for Post-licensure education for
Broker
60 Months - CORRECT ANSWER-Time for an honorable discharged veteran to
be waived licensure fees after discharge
63 Hours - CORRECT ANSWER-Educational time for FREC-I course including
exam
72 Hours - CORRECT ANSWER-Educational time for FREC-II course including
exam
3 Hours - CORRECT ANSWER-Maximum exam time for the course exam
3.5 Hours - CORRECT ANSWER-Maximum exam time for the State Exam
:::: under the Department of Business and Professional Regulation (DBPR)
enforces real estate rules and disciplines those in violation of the law. The ::::
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Colibri Chapter 1, 2, 3 Exam
The Knowledge of Property Transfer - - CORRECT ANSWER-by deed, will,
inheritance or the use of contracts, or trusts.
Knowledge of Market Conditions - - CORRECT ANSWER-the level of listings on
the market, how the property may be financed, how quickly property sells and the
value of a property
Knowledge of How to Market Real Estate - - CORRECT ANSWER-techniques
that include proper pricing, disclosure to both the buyer and the seller, service to
the buyers and sellers, and maintaining relationships with other real estate
professionals.
real estate brokerage business brings interested parties together to ... -
CORRECT ANSWER-sell, lease, rent or exchange real property.
Real estate professionals often specialize in one particular geographic area or
property type. In real estate world, this is known as . - CORRECT
ANSWER-Farming
Licensee may choose - CORRECT ANSWER-Sales
Leasing
Management
Counseling
There are Six Major Real Estate Property Types: - CORRECT
ANSWER-Residential property - a family home that is 4 units or less, or vacant
land that has been zoned for 4 units or less.
Commercial property - income producing property - retail center or an apartment
(4+ units)
Industrial property - usually manufactures or distributes products
Agricultural property - a farm or ranch land 10+ acres.
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Business opportunity - an investor purchasing an income producing business.
Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
property manager is defined as - CORRECT ANSWER-the professional who
preserves the value of an investment (by an owner) while generating income as
an agent for the owner and acts as a fiduciary to the owner.
Fiduciary is a person ... - CORRECT ANSWER-that has a duty to act primarily for
another's benefit,
four types of maintenance a property manager may be tasked to perform: -
CORRECT ANSWER-Preventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
3 Methods to determine value - CORRECT ANSWER-Appraisal - conducted by
appriasers
Broker Price Opinion - local expert opinion
Comparative Market Analysis -
3 Types of residential contruction - CORRECT ANSWER-Spec homes - inventory
Tract homes - built to certain guidelines
custom homes - built for a specific buyer
There are a variety of professional organizations which also support and endorse
the real estate business. The largest is the - CORRECT ANSWER-National
Association of REALTORS®, whose Code of Ethics and certification/designations
are influential in their goals to protect private property rights, promote home
ownership, and lobby to maintain reasonable credit and other standards at the
federal level for shelter for everyone.
Which is NOT commonly an area of federal government interference in real
property? - CORRECT ANSWER-zoning laws
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,https://www.stuvia.com/user/passnursingnow https://www.stuvia.com/user/passnursingnow https://www.stuvia.com/user/passnursingnow
Local communities regulate real estate by - CORRECT ANSWER-creating
zoning laws.
One example of a Loan Originator would be a(n) - CORRECT ANSWER-seller
who finances more than two homes in a two year period.
2 years (3 items) - CORRECT ANSWER-1. Time an application remains effective
for state exam
2. Time pre-licensure course is effective for state exam
3. Minimum experience time for a sales associate to become a broker
4. months - CORRECT ANSWER-Minimum time for establishing residency in
Florida
5 days - CORRECT ANSWER-Minimum timeframe between submitting
fingerprints and applying for a license
5 years - CORRECT ANSWER-Time for reapplication allowance after revocation
of a license
6 months - CORRECT ANSWER-Time that FDLE will expunge fingerprint
background records from their files
10 days - CORRECT ANSWER-Time to notify DBPR/FREC of change of address
within Florida
14 hours - CORRECT ANSWER-Continuing Education Requirements after initial
Licensing period for renewal
18-24 months (2 items) - CORRECT ANSWER-Time an initial license may be
active depending upon the date of authority
Time an initial licensee MUST complete Post-Licensing Education
21 days - CORRECT ANSWER-Time for an applicant to submit for a formal
hearing if denied application for licensure
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24 Hours - CORRECT ANSWER-Time to wait to retest should applicant fail state
licensure exam
24 months - CORRECT ANSWER-Maximum time for an active license to renew
28 Hours - CORRECT ANSWER-Required education for involuntary inactive
licensees who are more than 12 months inactive
30 days (2 items) - CORRECT ANSWER-Time to review license application and
return if incomplete or missing information
Time to re-test if student fails the Pre-license course exam
45 Days - CORRECT ANSWER-Requirements for Post-licensure education for
Sales Associates
60 Days - CORRECT ANSWER-Time to notify the FREC of changing residency -
out of state
60 Hours - CORRECT ANSWER-Requirements for Post-licensure education for
Broker
60 Months - CORRECT ANSWER-Time for an honorable discharged veteran to
be waived licensure fees after discharge
63 Hours - CORRECT ANSWER-Educational time for FREC-I course including
exam
72 Hours - CORRECT ANSWER-Educational time for FREC-II course including
exam
3 Hours - CORRECT ANSWER-Maximum exam time for the course exam
3.5 Hours - CORRECT ANSWER-Maximum exam time for the State Exam
:::: under the Department of Business and Professional Regulation (DBPR)
enforces real estate rules and disciplines those in violation of the law. The ::::
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