COLIBRI CHAPTERS 1-3 TEST QUESTIONS AND
ANSWERS
The Knowledge of Property Transfer - - ANSWER by deed, will, inheritance or
use of contracts, or trusts.
Knowledge of Market Conditions - - ANSWER listings available on the
market, how the property may be financed, how quickly property sells and the
worth of a property
Knowledge of How to Market Real Estate - - ANSWER techniques including
proper pricing, disclosure to the buyer and seller, servicing to the buyers and
sellers, and relationship building with other real estate professionals.
real estate brokerage business brings interested parties together to. - ANSWER
sell, lease, rent or exchange real property.
Real estate agents specialize in either a particular geographic area or property
type. In real estate, this is called .
- ANSWER Farming
Licensee may specialize in -
ANSWER Sales
Leasing
Management
Counseling
There are Six Major Real Estate Property Types: -
- ANSWER Residential property - a family home that is 4 units or less, or
unoccupied land that has been zoned for 4 units or less.
, Commercial property - income generating property - retail center or an
apartment complex (4+ units)
Industrial property - generally produces or distributes products
Agricultural property - a farm or ranch property 10+ acres.
Business opportunity - an investor purchasing an income generating business.
Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
property manager means - ANSWER the individual who maintains the
investment value of a property (owned by someone) through the collection of
income as an agent on behalf of the owner and serves as a fiduciary to the
owner.
Fiduciary means an individual. - ANSWER who is obligated to act
substantially on another's behalf.
four types of maintenance a property manager might be asked to perform: -
ANSWER Preventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
3 methods to estimate value - ANSWER Appraisal - performed by appriasers
Broker Price Opinion - professional local opinion
Comparative Market Analysis -
3 types of residential construction - ANSWER Spec homes - inventory
Tract homes - constructed to certain specifications
custom houses - built for one buyer
There are many professional organizations which also subsidize and sanction
the real estate sector. The largest is the - ANSWER National Association of
ANSWERS
The Knowledge of Property Transfer - - ANSWER by deed, will, inheritance or
use of contracts, or trusts.
Knowledge of Market Conditions - - ANSWER listings available on the
market, how the property may be financed, how quickly property sells and the
worth of a property
Knowledge of How to Market Real Estate - - ANSWER techniques including
proper pricing, disclosure to the buyer and seller, servicing to the buyers and
sellers, and relationship building with other real estate professionals.
real estate brokerage business brings interested parties together to. - ANSWER
sell, lease, rent or exchange real property.
Real estate agents specialize in either a particular geographic area or property
type. In real estate, this is called .
- ANSWER Farming
Licensee may specialize in -
ANSWER Sales
Leasing
Management
Counseling
There are Six Major Real Estate Property Types: -
- ANSWER Residential property - a family home that is 4 units or less, or
unoccupied land that has been zoned for 4 units or less.
, Commercial property - income generating property - retail center or an
apartment complex (4+ units)
Industrial property - generally produces or distributes products
Agricultural property - a farm or ranch property 10+ acres.
Business opportunity - an investor purchasing an income generating business.
Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
property manager means - ANSWER the individual who maintains the
investment value of a property (owned by someone) through the collection of
income as an agent on behalf of the owner and serves as a fiduciary to the
owner.
Fiduciary means an individual. - ANSWER who is obligated to act
substantially on another's behalf.
four types of maintenance a property manager might be asked to perform: -
ANSWER Preventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
3 methods to estimate value - ANSWER Appraisal - performed by appriasers
Broker Price Opinion - professional local opinion
Comparative Market Analysis -
3 types of residential construction - ANSWER Spec homes - inventory
Tract homes - constructed to certain specifications
custom houses - built for one buyer
There are many professional organizations which also subsidize and sanction
the real estate sector. The largest is the - ANSWER National Association of
