Colibri Real Estate Practice Final Exam
Questions and Answers Graded A+
Why is the condition of bearing walls more important than non bearing walls? -
Correct 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 - Correct answer-transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years? -
Correct 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? - Correct 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? - Correct answer-A will
that is not signed.
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, Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - Correct answer-Performance Expectations
Which of the following statements best describes what happens with a judicial
foreclosure? - Correct answer-The mortgaged property is sold under the
supervision of a court.
Which of the following best describes the principle of conformity? - Correct
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 - Correct 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 - Correct 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? - Correct answer-The $2,500 property tax lien
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Questions and Answers Graded A+
Why is the condition of bearing walls more important than non bearing walls? -
Correct 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 - Correct answer-transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years? -
Correct 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? - Correct 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? - Correct answer-A will
that is not signed.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Broker Torrey hires salesperson Wes as an independent contractor. As an
independent contractor, Wes can expect which of the following from Broker
Torrey? - Correct answer-Performance Expectations
Which of the following statements best describes what happens with a judicial
foreclosure? - Correct answer-The mortgaged property is sold under the
supervision of a court.
Which of the following best describes the principle of conformity? - Correct
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 - Correct 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 - Correct 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? - Correct answer-The $2,500 property tax lien
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
