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Colibri Real Estate practice exams Questions and Answers 100% Accurate
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Colibri Real Estate practice exams
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Colibri Real Estate practice examsSomeone who is interested in working in the field of real estate must begin their career
in residential brokerage - answerTrue
A seller hires your new brokerage to represent them in selling their house. Who is the
principal? - answerThe seller
Nan is a real estate licensee who wishes to become a broker. She'll need: -
answerseveral years of experience, advanced training, and to pass a broker exam.
Whose responsibility is it to ensure that a licensee's license remains active? -
answerThe licensee and the licensee's broker
Generally speaking, under what circumstances must a broker maintain a client trust
account? - answerAny time the brokerage maintains trust funds
Lana accepts an earnest money check on behalf of a buyer. While waiting for the
seller's response to the buyer's offer, Lana should keep it safe by depositing it into the
brokerage business account. - answerFalse; The one thing Lana should never do is
deposit the check into the business account.
Which of the following workers would qualify as a statutory non-employee?
1. Gil, who works 30 hours a week in the front office of a brokerage and earns $20 per
hour
2. Cal, who is a broker for Get 'Er Done Realty and has 12 affiliated licensees.
3. Brenda, who is unlicensed but receives a commission every time her supervisor
makes a real estate sale.
4. Mark, who is licensed and has a written employment agreement with a broker but has
yet to earn any commission - answerMark, who is licensed and has a written
employment agreement with a broker but has yet to earn any commission
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