Exam (elaborations)
Colibri real estate practice Questions and Answers
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Colibri real estate practice
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colibri real estate practiceWhich of the following would be an example of a licensee specializing in business type?
- answerJim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - answerA broker is not responsible for
the acts of independent contractors.
Which of these statements is true? - answerSalespersons must perform all of their
activities on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker
John? - answerJohn expects his agents to spend 5 hours a week on unsupervised
telephone duty.
Which of the following is not a national real estate trade organization? - answerCAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - answerType of property
Which of the following is NOT a condition of the safe harbor test? - answerGross
income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
answerCommercial
All of the following are true statements about goals except which one? - answerOnce
you set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these
activities does she have control over? - answerWhat percent of commission the
licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not
allowed to do? - answerDeposit into the brokerage business account.
A person who believes he or she has been discriminated against has how long from the
time of the alleged violation to file a suit in a state or federal court? - answer24 months
If a person believes he or she has been discriminated against, how long does he or she
have to file a HUD complaint? - answer1 year
, Which California Fair Housing law provides protection from discrimination by business
establishments? - answerUnruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the
neighborhood. This broker is guilty of what prohibited activity? - answerPanic selling
Which of the following is not a source of information for professional ethics codes? -
answerReal estate schools
How long must trust account records be kept? - answer3 years
Which is not a true statement about the Americans with Disabilities Act? - answerA
duplex owner might need to remodel the kitchen in the rental unit to accommodate
persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - answerHousing
and Community Development Act
Which of these is not an exemption to fair housing law? - answerThe sale of a single-
family home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after
signing the purchase contract? - answer7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests
-- both what Paul knows and what he "should have known." Which of these situations
would not be something Paul "should know"? - answerThe owner of the property is HIV
positive.
The principles of an agency relationship include all of these factors except which one? -
answerCompensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? -
answerBlind obedience
Which disclosure form gives detailed information about the property's condition? -
answerReal Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? - answerDesignated
agency
When must a listing agent present the Disclosure Regarding Real Estate Agency
Relationships to the seller? - answerPrior to accepting the listing.
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