Real Estate Principles Final Exam Colibri (2025) ACTUAL EXAM
Real Estate Principles Final Exam Colibri
COMPREHENSIVE QUESTIONS AND VERIFIED ACCURATE SOLUTION
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(DETAILED & ELABORATED) |GET IT 100% ACCURATE!! 2025 TEST!!
1. Long Beach salesperson Eric Janey is Mold Disclosure Required
providing sellers Julie and Zach Roberts Lead-based Paint Disclosure Required
with the necessary disclosures they Natural Hazards Disclosure Required
must be given upon the sale of real
property. Which of the following is NOT Radon Detection Test Disclosure - NOT REQUIRED
a disclosure that is given upon the sale IN CA
of real property?
2. Escrow cannot be terminated in which Death of one of the principals
of the following ways?
ESCROW CAN BE TERMINATED BY
The completion of escrow
Mutual agreement
By a court or interpleader action
3. Kathy Bates has just moved into a con- Special Assessment
dominium complex of 60 units. The
complex has a swimming pool, and a NOT
management company takes care of Ad valorem tax (insert why)
the upkeep of the outside of the prop- General real estate tax (insert why)
erty. The monthly cost for pool main-
tenance, grass cutting, tree trimming,
private street maintenance, and the
newly-updated clubhouse is currently
$400.00 a month. Each year, the cost of
such services increases, as do the costs
for necessary repairs as the buildings
get older. This year, new roofs are in or-
der for all of the buildings. The condo-
minium association, which is made up
of the owners of the property, decides
that, in order to cover the increase in
, Real Estate Principles Final Exam Colibri
Study online at https://quizlet.com/_csnuve
costs, and to replace the roofs on the
property, they must pass a
4. Pauline Chasse has just signed a lease Leases of less than 1 year are not required to
agreement with landlord, Wayne God- be in writing. However, if a lease is in writing,
brey to rent a house he owns in De- then it must be signed by the lessor (in this case,
lano. The lease states definite begin- Wayne)
ning (January 1, 2016) and ending (Oc-
tober 30, 2016) dates, and sets forth
the rent amount and due dates and all
additional property and personal infor-
mation required in such a lease. Wayne
hands a copy to Pauline, but she no-
tices that he has not signed it. When she
comments about this to him, he tells
her that signatures are not necessary
since the lease is for less than a year.
Which of the following is true of this
situation?
5. Which of the following is NOT consid- Mobile Home Parks
ered one of the basic types of Common
Interest Developments? The below ARE considered Common Interest De-
velopments
Condominiums
Cooperatives
Planned developments
6. Under Article 7 on "hard money loans" The broker MAY CHARGE as much commission as
(cash) of $30,000.00 and over for first the borrower will agree to pay.
trust deed loans, and $20,000.00 and
over for junior deeds of trust, except The regulations also require that the broker pro-
vides to BOTH the buyer and seller, on first trust
, Real Estate Principles Final Exam Colibri
Study online at https://quizlet.com/_csnuve
where the new usury laws apply, the deed loans UNDER $30,000.00, and on junior
loan broker's commission maximum is: trust deed loans UNDER $20,000.00, copies of
the appraisal report.Loans on owner-occupied
homes that are negotiated by a broker for a
term of 6 or more years may not have a balloon
payment. In any situation that involves a balloon
payment, the SELLER is required to notify the
BUYER between 60 and 150 days BEFORE the
payment is due.If the home is NOT occupied by
the owner, then the loans are exempt from bal-
loon payments, IF the loan term is less than 3
years.Threshold Reporting is the requirement to
report annual and quarterly loan activities (review
of trust fund) to the California BRE, IF, within
the past 12 months, a broker has negotiated any
combination of 10 or more loans to a subdivi-
sion OR a total of more than $1,000,000.00 in
loans. Regulations for "big lending," as this is
known, include the requirement that advertising
must be reviewed by the CalBRE. The intent of
the threshold reporting regulations is to protect
the public by overseeing the loan activity of these
"big lenders," who are using their real estate
licenses to take on such activities.
7. In 2013, Jack and Shirley Wright moved The escrow practices in Southern California differ
from Riverside, in Southern California, from those in Northern California. In Southern
up to Santa Clara, in Northern Califor- California, the escrow instructions are signed by
nia, when Jack's company opened a new the buyer and seller shortly after they've signed
branch office there. They decided to the purchase agreement, just after the start of
rent for a while so they could get to escrow, which is about 60 days prior to the ac-
know the area before buying a home. tual close of escrow. In Northern California, the
Real Estate Principles Final Exam Colibri
COMPREHENSIVE QUESTIONS AND VERIFIED ACCURATE SOLUTION
Study online at https://quizlet.com/_csnuve
(DETAILED & ELABORATED) |GET IT 100% ACCURATE!! 2025 TEST!!
1. Long Beach salesperson Eric Janey is Mold Disclosure Required
providing sellers Julie and Zach Roberts Lead-based Paint Disclosure Required
with the necessary disclosures they Natural Hazards Disclosure Required
must be given upon the sale of real
property. Which of the following is NOT Radon Detection Test Disclosure - NOT REQUIRED
a disclosure that is given upon the sale IN CA
of real property?
2. Escrow cannot be terminated in which Death of one of the principals
of the following ways?
ESCROW CAN BE TERMINATED BY
The completion of escrow
Mutual agreement
By a court or interpleader action
3. Kathy Bates has just moved into a con- Special Assessment
dominium complex of 60 units. The
complex has a swimming pool, and a NOT
management company takes care of Ad valorem tax (insert why)
the upkeep of the outside of the prop- General real estate tax (insert why)
erty. The monthly cost for pool main-
tenance, grass cutting, tree trimming,
private street maintenance, and the
newly-updated clubhouse is currently
$400.00 a month. Each year, the cost of
such services increases, as do the costs
for necessary repairs as the buildings
get older. This year, new roofs are in or-
der for all of the buildings. The condo-
minium association, which is made up
of the owners of the property, decides
that, in order to cover the increase in
, Real Estate Principles Final Exam Colibri
Study online at https://quizlet.com/_csnuve
costs, and to replace the roofs on the
property, they must pass a
4. Pauline Chasse has just signed a lease Leases of less than 1 year are not required to
agreement with landlord, Wayne God- be in writing. However, if a lease is in writing,
brey to rent a house he owns in De- then it must be signed by the lessor (in this case,
lano. The lease states definite begin- Wayne)
ning (January 1, 2016) and ending (Oc-
tober 30, 2016) dates, and sets forth
the rent amount and due dates and all
additional property and personal infor-
mation required in such a lease. Wayne
hands a copy to Pauline, but she no-
tices that he has not signed it. When she
comments about this to him, he tells
her that signatures are not necessary
since the lease is for less than a year.
Which of the following is true of this
situation?
5. Which of the following is NOT consid- Mobile Home Parks
ered one of the basic types of Common
Interest Developments? The below ARE considered Common Interest De-
velopments
Condominiums
Cooperatives
Planned developments
6. Under Article 7 on "hard money loans" The broker MAY CHARGE as much commission as
(cash) of $30,000.00 and over for first the borrower will agree to pay.
trust deed loans, and $20,000.00 and
over for junior deeds of trust, except The regulations also require that the broker pro-
vides to BOTH the buyer and seller, on first trust
, Real Estate Principles Final Exam Colibri
Study online at https://quizlet.com/_csnuve
where the new usury laws apply, the deed loans UNDER $30,000.00, and on junior
loan broker's commission maximum is: trust deed loans UNDER $20,000.00, copies of
the appraisal report.Loans on owner-occupied
homes that are negotiated by a broker for a
term of 6 or more years may not have a balloon
payment. In any situation that involves a balloon
payment, the SELLER is required to notify the
BUYER between 60 and 150 days BEFORE the
payment is due.If the home is NOT occupied by
the owner, then the loans are exempt from bal-
loon payments, IF the loan term is less than 3
years.Threshold Reporting is the requirement to
report annual and quarterly loan activities (review
of trust fund) to the California BRE, IF, within
the past 12 months, a broker has negotiated any
combination of 10 or more loans to a subdivi-
sion OR a total of more than $1,000,000.00 in
loans. Regulations for "big lending," as this is
known, include the requirement that advertising
must be reviewed by the CalBRE. The intent of
the threshold reporting regulations is to protect
the public by overseeing the loan activity of these
"big lenders," who are using their real estate
licenses to take on such activities.
7. In 2013, Jack and Shirley Wright moved The escrow practices in Southern California differ
from Riverside, in Southern California, from those in Northern California. In Southern
up to Santa Clara, in Northern Califor- California, the escrow instructions are signed by
nia, when Jack's company opened a new the buyer and seller shortly after they've signed
branch office there. They decided to the purchase agreement, just after the start of
rent for a while so they could get to escrow, which is about 60 days prior to the ac-
know the area before buying a home. tual close of escrow. In Northern California, the
