Illinois Colibri Final Exam Questions And Answers Graded A+.

Illinois Colibri Final Exam Questions And
Answers Graded A+.

Whenpthepbuyerpchecksp"yes"ptopdualpagencyponpapBuyerpRepresentationpagreement,pwh
atpdoespthepbuyerpactuallypagreepto?p-
pcorrectpanswer.ppppBypcheckingp"yes"ptopthispparagraph,pthepbuyerpisponlypacknowledgingp

thatptheppossibilitypofpdualpagencypexists.

Samppaidp$500,000pforpapfive-
unitpapartmentpbuilding.pThepgrosspincomepisp$1,000pperpmonthpperpunit,pwithpannualpexp
ensespofp$15,000pannually.pWhatpwaspthepcapitalizationpratepforpthispinvestment?p-
pcorrectpanswer.pppp9%



Whatpispthepdifferencepbetweenpmarketpvaluepandpmarketpprice,pifpany?p-
pcorrectpanswer.ppppMarketpvaluepispanpestimate;pmarketppricepisptheppricepatpwhichpapprop

ertypsold.

Whichpofpthepfollowingpisptruepofpanpamortizingploan?p-
pcorrectpanswer.ppppPartpofpeachpperiodicppaymentpispappliedptoprepaymentpofptheploanpbal

ancepinpadvancepandppartpispappliedptoppaymentpofpinterestpinparrears.

Apcontractpinpwhichpbothppartiespexchangeppromisespispa:p-
pcorrectpanswer.ppppbilateralpcontract



Whatptechniquepispusedptopelicitp"yes"presponsespfrompapclient?p-
pcorrectpanswer.ppppKeeppuppaprunningpcommentaryp-pforpexample,pthispisptheplivingproom.



Ifpaplandlordprejectspapprospectiveptenantpbasedponpapbadpcreditpreport,paccordingptopthepf
airpcreditpreportingpAct,pthepprospectiveptenant:p-

, pcorrectpanswer.ppppmayprequireptheplandlordptopsubmitpallpofphispreasonspforprejectionpinpw
riting.

Allpofpthepfollowingpispincludedpasppartpofpapsurvey,pEXCEPT:p-
pcorrectpanswer.pppptheptypepofpimprovementspbestpsuitedpforpthepland



Howpdopyoupstaypinpcontrolpofpapcallpfrompapprospect?p-
pcorrectpanswer.ppppAskingpquestions



Onpthepdayppriorptopclosing,pthepbuyerpdoespapwalk-
throughpandpseespthatpthepsellerptookpapchandelierpthatpwaspsupposedptopremain.pWhatps
houldpthepbuyer'spbrokerpdo?p-
pcorrectpanswer.ppppAdvisepthepbuyerptopspeakpwithphis/herpattorneypaboutpapfinancialpadju

stment,patpthepclosing,pforpthepcostpofpthepchandelier.

Aploanpapplicantphaspanpannualpgrosspincomepofp$36,000.pHowpmuchpwillpaplenderpallowpt
hepapplicantptoppaypforpmonthlyphousingpexpenseptopqualifypforpaploanpifptheplenderpusespa
npincomepratiopofp28%?p-pcorrectpanswer.pppp$840

Whichpofpthepfollowingpispconsideredpapfixedpoperatingpexpense?p-
pcorrectpanswer.ppppinsuranceppremiums



Whichpstatementpisptruepaboutpapcomparativepmarketpanalysisp(CMA)?p-
pcorrectpanswer.ppppItpcanphelppapsellerpdecidepwhatptopaskpforpthepproperty



Beginningpafterpthep2013prenewal,pindividualsprenewingporpobtainingpapmanagingpbroker'
splicensepmustpcompletephowpmanypCEpcreditphours,pinpadditionptopthepBrokerpManagem
entpCourse?p-pcorrectpanswer.pppp12pcreditphours

Anpinterestpinprealpestatepthatpincludesptheprightptoppossesspispknownpas:p-
pcorrectpanswer.ppppAnpestatepinpland



UnderpTitlepIIIpofpthispAct,pdiscriminationpinpcommercialppropertiespispprohibited.pTopwhich
pActpdoespthispapply?p-pcorrectpanswer.ppppAmericanpWithpDisabilitiespAct



Whenptwopadjacentppiecespofppropertyparepjoinedptogether,pthepvaluepofptheponeplargerppa
rcelpmaypbepgreaterpthanpthepvaluepofptheptwopseparately.pWhichpprinciplepofpvaluepispthis
?p-pcorrectpanswer.ppppAssemblage.

"Realestate"pincludespsuchpthingspas:p-
pcorrectpanswer.ppppfences,psidewalks,pandppiersponpapparcelpofpland.



Ifpanpownerpofprealppropertypdiespwithoutpleavingpapwillpandpwithpnoplegalpheirs,pwhatpwillpg
enerallyphappenptopthepproperty?p-
pcorrectpanswer.ppppItpwillprevertptopthepstateporpcountypbypescheat.