COLIBRI REAL ESTATE PRACTICE FINAL EXAM PREP QUESTIONS AND CORRECT DETAILED ANSWERS A+ GRADED
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Course
COLIBRI REAL ESTATE 30 HOUR PA
Institution
COLIBRI REAL ESTATE 30 HOUR PA
Why is the condition of bearing walls more important than non bearing walls? - ANS 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 - ANS transferred a portion of his bundle of rights
What ...
EXAM PREP QUESTIONS AND CORRECT
DETAILED ANSWERS A+ GRADED
, Why is the condition of bearing walls more important than non bearing walls? - ANS 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 - ANS transferred a portion of his bundle of rights
What is a forecast of income and expenses that can be projected over five years? - ANS
Stabilized budget
A buyer told broker Lena that she wants to move to Cuban neighborhood. Then the buyer asked
K
if Lena could show her the best home in a Cuban area. How should Lena respond to this
request? - ANS Lena should explain to the buyer that she ethically and legally cannot
recommend housing based on national origin.
C
Which of the following wills may be considered invalid? - ANS A will that is not signed.
LO
Broker Torrey hires salesperson Wes as an independent contractor. As an independent
contractor, Wes can expect which of the following from Broker Torrey? - ANS Performance
Expectations
Which of the following statements best describes what happens with a judicial foreclosure? -
YC
ANS The mortgaged property is sold under the supervision of a court.
Which of the following best describes the principle of conformity? - ANS A home maintains its
highest value by being in a neighborhood with similar-type housing.
The cost of doing direct mail advertising depends on - ANS The frequency of the mailings
D
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 - ANS
U
open-end mortgage
Of the following liens: a $100,000 mortgage, a $2,500 property tax bill, and a $8,000 mechanic's
ST
lien and a $25,000 judgement lien, which will be paid off first after a foreclosure sale? - ANS
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? - ANS $5,600
A seller decided to back out of a sales contract for no good reason. What recourse does the
buyer have? - ANS To sue for specific performance.
What are the primary advantages of PEX piping? - ANS PEX piping is able to withstand both
high and low temperatures and it is highly resistant to chemicals.
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