Colibri Real Estate (Real Estate Express) Final Exam
p p p p p p p
Review/ Exam Questions with Correct Answers/ Rated A+
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Anypsalespersonpcanplegallypreceivepherpsharepofpthepcommissionponpapsalepfrom
A) herpemployingpbrokerponly.
B) anypcooperatingpbrokerpwithpwhompshepcompletespapsale.
C) apbuilderpsheprepresentspinpapsale
D) theppurchaserpofpthephomepinpapsuccessfulpsale.p-pANSWERp-pA)pherpemployingpbrokerponly.
WhichpofpthesepispNOTpconsideredpwhenpdeterminingpwhetherpanpitempispapfixtureporppersonalpproperty?
A) intentionpofpthepannexer
B) mannerpofpannexation
C) valuepofpthepannexedpitem
D) relationshippofptheppartiesp-pANSWERp-pC)pvaluepofpthepannexedpitem
RESPApappliesptop financedpbypapfederallypregulatedploan.
A) anypcommercialporpresidentialpproperty
B) anypresidentialpproperty
C) one-ptopfour-familypresidences
D) onlypsingle-familypdwellingsp-pANSWERp-pC)pone-ptopfour-familypresidences
pg.p1
,Ofpthese,pwhichpispLEASTpLIKELYptopbepconsideredpanpexamplepofppuffing?
A) "likepbeingponpvacationpeverypday"
B) "loveliestpstreetpinpthepwholeptown"
C) "magnificentp chef-inspiredp kitchen"
D) "three-carpgaragepwithproompforpapworkshop"p-pANSWERp-pD)p"three-
carpgaragepwithproompforpapworkshop"
Friablepparticlespfrompasbestosparepmostplikelyptopbepapdangerptopone'sphealthpwhenptheypare
A) encapsulated
B) inhaled
C) touched
D) wetp-pANSWERp-pB)pinhaled
KimpisptheptitlepofficerphandlingptheptransferpofpGregpandpAshley'sphouseptopbuyerspAlexpandpAmanda.pAspt
heypgatherpatpthepsettlementptable,pKimphaspstackspofpdocumentspthatpneedptopbepsignedpinporderptopco
mpleteptheptransaction.pWhopsignspthepdeed?
A) AlexpandpAmanda
B) GregpandpAshley
C) Greg,pAshley,pAlexpandpAmanda
D) Greg,pAshleypandpKimp-pANSWERp-pB)pGregpandpAshley
Whichpispanpexamplepofpsteering?
A) aplicenseeptellsphomeownerpthatptheirppropertypvaluespwillpdroppwhenpapforeignpfamilypmovespin.
B) apmortgagepbankerprefusesptopmakeploanspforpapparticularpinner-citypneighborhood.
C) appropertypmanagerpsuggestspapprospectiveptenantpwouldpbephappierpinpapmorepdiversepbuilding.
pg.p2
,D) apsellerptellsphisplistingpagentptopfindpbuyerpprospectsponlypofpapspecificpethnicity.p-pANSWERp-
pC)pappropertypmanagerpsuggestspapprospectiveptenantpwouldpbephappierpinpapmorepdiversepbuildin
g.
Lesterpleasespapstorefrontpforphispcandypbusiness.pTheprentpthepfirstpsixpmonthspwasp$500pandpispsetptopinc
reasep10%peverypmonthpforpthepnextp18pmonthspaspbusinessptakespoff.pLesterphaspwhatpkindpofplease?
A) graduatedplease
B) groundplease
C) indexplease
D) percentagepleasep-pANSWERp-pA)pgraduatedplease
WhenpDavepandpLucypgetpmarried,ptheypdecideptopsellpeachpofptheirphomespandpbuyponephouseptogether.pL
ucy'sphousepsellspforp$700,000;pDave'sphousepsellspforp$300,000,pandpthey'repgoingptopbuypap$1pmillionpho
use.pIfpLucypwantspap70%pinterestpinpthepnewphouse,pwhatpformpofpownershippmustptheyptake?
A) jointptenancy
B) tenancypinpcommon
C) tenancypbypthepentirety
D) tenancypinpseveraltyp-pANSWERp-pB)ptenancypinpcommon
Appropertypisplistedpforp$200,000.pThepbrokerpgetspanpofferpfrompGinapforp$150,000pcashpwithpapclosingpin
p90pdays,ponepfrompTimpatp$155,000,psubjectptopthepbuyerpgettingpapfirstpmortgagepforp$130,000,panpoffe
rpfrompSharipatp$190,000psubjectptopthepownerptakingpbackpappurchasepmoneypmortgagepwithpclosingpinp
30pdays.pThepbrokerpshouldpdisclosepwhichpoffer(s)?
A) allpofpthepoffers
B) nonepofpthepoffers,pasptheyparepallpbelowpthepaskingpprice
C) onlypthepfirstpofferpuntilpthepsellerpmakespapdecisionptopacceptporpreject,pthenppresentpthepnextpoffer
D) whicheverpofferpispthephighestpandphaspthepmostpfavorableptermsptopthepsellerp-pANSWERp-
pA)pallpofpthepoffers
BrokerpJanephaspbeenpaccusedpofpaplawpviolationpregardingpcommissions.pWhichpofpthepfollowingpmightpre
sultpinpherpbeingpfoundpguilty?
pg.p3
, A) Janeppaidpapcommissionptopherplicensedppersonalpassistant.
B) Janeppaidpapcommissionptopthepwifepofponepofpherplicenseespwhopwasprecentlypkilledpinpanpauto
paccident.pThepdeceasedplicenseephadpearnedpthepcommissionppriorptophispdeath.
C) Janeppaidpapcommissionppluspapbonusptoponepofpherplicensees.
D) JaneppaidpapcommissionptopapFloridaplicenseepwhopispnotplicensedpinpGeorgiapforplicensingpactivitypinp
Georgia.p-pANSWERp-
pD)pJaneppaidpapcommissionptopapFloridaplicenseepwhopispnotplicensedpinpGeorgiapforplicensingpactivitypinp
Georgia.
WhichpofpthepfollowingpispNOTpapprotectedpclasspunderpGeorgiapfairphousingplaw?
A) Sexualppreference
B) Familialpstatus
C) Religion
D) Racep-pANSWERp-pA)pSexualppreference
Syedpispanpinactiveplicensee.pHepjustpmovedptopapnewphomepacrossptown.pWhatpmustphepdo?
A) CallpthepCommissionpandpgivepitphispnewpaddress.
B) Reportpthepaddresspchangepwhenphe'spreadyptopreactivatephisplicense.
C) SendpapwrittenpnoticeptopthepCommissionpwithinp30pdays.
D) NotifyptheppostpofficeptopsendpapchangepofpaddresspnoticeptopthepCommission.p-pANSWERp-
pC)pSendpapwrittenpnoticeptopthepCommissionpwithinp30pdays.
Howpmanyphourspofpcontinuingpeducationpmustpaplicenseepcompletepforpeachpyearpofplicensure?
A) 8phours
B) 9phours
C) 5phours
D) 4phoursp-pANSWERp-pB)p9phours
pg.p4
p p p p p p p
Review/ Exam Questions with Correct Answers/ Rated A+
p p p p p p p
Anypsalespersonpcanplegallypreceivepherpsharepofpthepcommissionponpapsalepfrom
A) herpemployingpbrokerponly.
B) anypcooperatingpbrokerpwithpwhompshepcompletespapsale.
C) apbuilderpsheprepresentspinpapsale
D) theppurchaserpofpthephomepinpapsuccessfulpsale.p-pANSWERp-pA)pherpemployingpbrokerponly.
WhichpofpthesepispNOTpconsideredpwhenpdeterminingpwhetherpanpitempispapfixtureporppersonalpproperty?
A) intentionpofpthepannexer
B) mannerpofpannexation
C) valuepofpthepannexedpitem
D) relationshippofptheppartiesp-pANSWERp-pC)pvaluepofpthepannexedpitem
RESPApappliesptop financedpbypapfederallypregulatedploan.
A) anypcommercialporpresidentialpproperty
B) anypresidentialpproperty
C) one-ptopfour-familypresidences
D) onlypsingle-familypdwellingsp-pANSWERp-pC)pone-ptopfour-familypresidences
pg.p1
,Ofpthese,pwhichpispLEASTpLIKELYptopbepconsideredpanpexamplepofppuffing?
A) "likepbeingponpvacationpeverypday"
B) "loveliestpstreetpinpthepwholeptown"
C) "magnificentp chef-inspiredp kitchen"
D) "three-carpgaragepwithproompforpapworkshop"p-pANSWERp-pD)p"three-
carpgaragepwithproompforpapworkshop"
Friablepparticlespfrompasbestosparepmostplikelyptopbepapdangerptopone'sphealthpwhenptheypare
A) encapsulated
B) inhaled
C) touched
D) wetp-pANSWERp-pB)pinhaled
KimpisptheptitlepofficerphandlingptheptransferpofpGregpandpAshley'sphouseptopbuyerspAlexpandpAmanda.pAspt
heypgatherpatpthepsettlementptable,pKimphaspstackspofpdocumentspthatpneedptopbepsignedpinporderptopco
mpleteptheptransaction.pWhopsignspthepdeed?
A) AlexpandpAmanda
B) GregpandpAshley
C) Greg,pAshley,pAlexpandpAmanda
D) Greg,pAshleypandpKimp-pANSWERp-pB)pGregpandpAshley
Whichpispanpexamplepofpsteering?
A) aplicenseeptellsphomeownerpthatptheirppropertypvaluespwillpdroppwhenpapforeignpfamilypmovespin.
B) apmortgagepbankerprefusesptopmakeploanspforpapparticularpinner-citypneighborhood.
C) appropertypmanagerpsuggestspapprospectiveptenantpwouldpbephappierpinpapmorepdiversepbuilding.
pg.p2
,D) apsellerptellsphisplistingpagentptopfindpbuyerpprospectsponlypofpapspecificpethnicity.p-pANSWERp-
pC)pappropertypmanagerpsuggestspapprospectiveptenantpwouldpbephappierpinpapmorepdiversepbuildin
g.
Lesterpleasespapstorefrontpforphispcandypbusiness.pTheprentpthepfirstpsixpmonthspwasp$500pandpispsetptopinc
reasep10%peverypmonthpforpthepnextp18pmonthspaspbusinessptakespoff.pLesterphaspwhatpkindpofplease?
A) graduatedplease
B) groundplease
C) indexplease
D) percentagepleasep-pANSWERp-pA)pgraduatedplease
WhenpDavepandpLucypgetpmarried,ptheypdecideptopsellpeachpofptheirphomespandpbuyponephouseptogether.pL
ucy'sphousepsellspforp$700,000;pDave'sphousepsellspforp$300,000,pandpthey'repgoingptopbuypap$1pmillionpho
use.pIfpLucypwantspap70%pinterestpinpthepnewphouse,pwhatpformpofpownershippmustptheyptake?
A) jointptenancy
B) tenancypinpcommon
C) tenancypbypthepentirety
D) tenancypinpseveraltyp-pANSWERp-pB)ptenancypinpcommon
Appropertypisplistedpforp$200,000.pThepbrokerpgetspanpofferpfrompGinapforp$150,000pcashpwithpapclosingpin
p90pdays,ponepfrompTimpatp$155,000,psubjectptopthepbuyerpgettingpapfirstpmortgagepforp$130,000,panpoffe
rpfrompSharipatp$190,000psubjectptopthepownerptakingpbackpappurchasepmoneypmortgagepwithpclosingpinp
30pdays.pThepbrokerpshouldpdisclosepwhichpoffer(s)?
A) allpofpthepoffers
B) nonepofpthepoffers,pasptheyparepallpbelowpthepaskingpprice
C) onlypthepfirstpofferpuntilpthepsellerpmakespapdecisionptopacceptporpreject,pthenppresentpthepnextpoffer
D) whicheverpofferpispthephighestpandphaspthepmostpfavorableptermsptopthepsellerp-pANSWERp-
pA)pallpofpthepoffers
BrokerpJanephaspbeenpaccusedpofpaplawpviolationpregardingpcommissions.pWhichpofpthepfollowingpmightpre
sultpinpherpbeingpfoundpguilty?
pg.p3
, A) Janeppaidpapcommissionptopherplicensedppersonalpassistant.
B) Janeppaidpapcommissionptopthepwifepofponepofpherplicenseespwhopwasprecentlypkilledpinpanpauto
paccident.pThepdeceasedplicenseephadpearnedpthepcommissionppriorptophispdeath.
C) Janeppaidpapcommissionppluspapbonusptoponepofpherplicensees.
D) JaneppaidpapcommissionptopapFloridaplicenseepwhopispnotplicensedpinpGeorgiapforplicensingpactivitypinp
Georgia.p-pANSWERp-
pD)pJaneppaidpapcommissionptopapFloridaplicenseepwhopispnotplicensedpinpGeorgiapforplicensingpactivitypinp
Georgia.
WhichpofpthepfollowingpispNOTpapprotectedpclasspunderpGeorgiapfairphousingplaw?
A) Sexualppreference
B) Familialpstatus
C) Religion
D) Racep-pANSWERp-pA)pSexualppreference
Syedpispanpinactiveplicensee.pHepjustpmovedptopapnewphomepacrossptown.pWhatpmustphepdo?
A) CallpthepCommissionpandpgivepitphispnewpaddress.
B) Reportpthepaddresspchangepwhenphe'spreadyptopreactivatephisplicense.
C) SendpapwrittenpnoticeptopthepCommissionpwithinp30pdays.
D) NotifyptheppostpofficeptopsendpapchangepofpaddresspnoticeptopthepCommission.p-pANSWERp-
pC)pSendpapwrittenpnoticeptopthepCommissionpwithinp30pdays.
Howpmanyphourspofpcontinuingpeducationpmustpaplicenseepcompletepforpeachpyearpofplicensure?
A) 8phours
B) 9phours
C) 5phours
D) 4phoursp-pANSWERp-pB)p9phours
pg.p4
