Colibri School Exam NJ 2023

In a real estate transaction the principal would BEST be described as the - CORRECT ANSWER-Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she'll loose interest in the house. Bert has committed - CORRECT ANSWER-Actual fraud Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming no discriminatory advertising is used and a licensee is not involved? - CORRECT ANSWER-Barb is an owner-occupant of a duplex who will lease the other unit only to a white woman Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a new subdivision. While the loan is outstanding, who holds the title to Danita property? - CORRECT ANSWER-A trustee Which of these phrases would LEAST likely be evidence of a conspiracy to commit an antitrust violation if said by a licensee? - CORRECT ANSWER-"We would like to suggest that you use Ace Title Agency for the closing." Which lease tenancy is engaged in by a holdover tenant? - CORRECT ANSWER-tenancy at sufferance RESPA applies to ___________ financed by a federally regulated loan. - CORRECT ANSWER-one- to four-family residences. An acceleration clause in a mortgage allows the lender to - CORRECT ANSWER-Declare the loan due if the buyer defaults Borrower Betty'