Colibri Real Estate Practice Final Exam
COMPREHENSIVE questions answered, 2025 verified
graded A+ already passed!
Why is the condition of bearing walls more important than non bearing walls? -
(ANSWER)Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - (ANSWER)transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years?
- (ANSWER)Stabilized budget
A buyer told broker Lena that she wants to move to Cuban neighborhood. Then
the buyer asked if Lena could show her the best home in a Cuban area. How
should Lena respond to this request? - (ANSWER)Lena should explain to the
buyer that she ethically and legally cannot recommend housing based on national
origin.
Which of the following wills may be considered invalid? - (ANSWER)A will that is
not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - (ANSWER)Performance Expectations
, Which of the following statements best describes what happens with a judicial
foreclosure? - (ANSWER)The mortgaged property is sold under the supervision of
a court.
Which of the following best describes the principle of conformity? - (ANSWER)A
home maintains its highest value by being in a neighborhood with similar-type
housing.
The cost of doing direct mail advertising depends on - (ANSWER)The frequency of
the mailings
A type of mortgage which allows the lender to increase the outstanding balance
of a loan up to the original amount of the loan in order to advance additional
funds is called an - (ANSWER)open-end mortgage
Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a
$8,000 mechanic's lien and a $25,000 judgement lien, which will be paid off first
after a foreclosure sale? - (ANSWER)The $2,500 property tax lien
On a $280,000 loan, the lender charges a 2 point service charge. How much does
the borrower have to pay for just these two points? - (ANSWER)$5,600
A seller decided to back out of a sales contract for no good reason. What recourse
does the buyer have? - (ANSWER)To sue for specific performance.
COMPREHENSIVE questions answered, 2025 verified
graded A+ already passed!
Why is the condition of bearing walls more important than non bearing walls? -
(ANSWER)Bearing walls support the ceiling and the roof.
Owner Tom decided to lease out his basement to a college student. By leasing the
basement, Tom has - (ANSWER)transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years?
- (ANSWER)Stabilized budget
A buyer told broker Lena that she wants to move to Cuban neighborhood. Then
the buyer asked if Lena could show her the best home in a Cuban area. How
should Lena respond to this request? - (ANSWER)Lena should explain to the
buyer that she ethically and legally cannot recommend housing based on national
origin.
Which of the following wills may be considered invalid? - (ANSWER)A will that is
not signed.
Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - (ANSWER)Performance Expectations
, Which of the following statements best describes what happens with a judicial
foreclosure? - (ANSWER)The mortgaged property is sold under the supervision of
a court.
Which of the following best describes the principle of conformity? - (ANSWER)A
home maintains its highest value by being in a neighborhood with similar-type
housing.
The cost of doing direct mail advertising depends on - (ANSWER)The frequency of
the mailings
A type of mortgage which allows the lender to increase the outstanding balance
of a loan up to the original amount of the loan in order to advance additional
funds is called an - (ANSWER)open-end mortgage
Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a
$8,000 mechanic's lien and a $25,000 judgement lien, which will be paid off first
after a foreclosure sale? - (ANSWER)The $2,500 property tax lien
On a $280,000 loan, the lender charges a 2 point service charge. How much does
the borrower have to pay for just these two points? - (ANSWER)$5,600
A seller decided to back out of a sales contract for no good reason. What recourse
does the buyer have? - (ANSWER)To sue for specific performance.
