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COLIBRI REAL ESTATE EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+ $20.99   Add to cart
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COLIBRI REAL ESTATE EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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COLIBRI REAL ESTATE EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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  • November 8, 2024
  • 58
  • 2024/2025
  • Exam (elaborations)
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  • colibri real estate exam actual exam 2 versions v

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  • COLIBRI REAL ESTATE
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COLIBRI REAL ESTATE EXAM ACTUAL EXAM 2
VERSIONS (VERSION A AND B) COMPLETE 300
QUESTIONS WITH DETAILED VERIFIED
ANSWERS 2024 -2025 (100% CORRECT ANSWERS)
/ALREADY GRADED A+

VERSION A

During which stage of a real estate transaction must the licensee remember to
impart information to the seller regarding the potential buyer's qualifications
and the quality of the offer being presented? - ANSWER During the
negotiation stage




Why should real estate licensees have good knowledge of the loan programs
that are currently available from local banks and other lenders? - ANSWER
Financing is a critical part of the transaction. Licensees need to stay current
on lenders' guidelines so they can qualify both the buyers and the property.


What is the mission of the Division of Licensing Services? - ANSWER To
protect the health, safety and welfare of consumers.
To provide efficient processing and examination services to license
applicants.
To provide accurate information and qualified licensees to the business
community. The Division of Licensing issues licenses and enforces the real
estate law.


What are the duties of the Secretary of State? - ANSWER All licensing,
examination, education, and compliance provisions of Article 12-A.

,The rules of the Board.
The rules of the Secretary of State


How is an associate broker different from a broker? - ANSWER An associate
broker must meet the same qualifications as a licensed broker; however, an
associate broker chooses to work under the name and supervision of a
licensed real estate broker.


How do licensees collect their commissions? - ANSWER A broker can collect
commissions from the clients. However, the licensees working for the broker
can only receive commission payments from their sponsoring broker.


How old must a person be who wishes to become licensed in New York? -
ANSWER Salespersons must be 18 years old; brokers must be 20 years old.


How many hours of instruction are required to become licensed in New York? -
ANSWER Salespersons are required to complete 77 hours of instruction;
brokers must complete 152 hours.


How are exam scores reported, and what percentage is needed to pass the
exam? - ANSWER ASAP after the exam as either pass or fail; 70%


Besides individual and associate broker, name 2 classes of broker licenses
available. - ANSWER Trade name broker, corporate broker, partnership
broker


What are the experience requirements to become a broker? - ANSWER Two
full years of experience as a licensed salesperson and 3,500 points.
Three years of equivalent experience in some other aspect of real estate and
5,250 points, subject to approval by the Department of State.


Which penalty is not imposed by the DOS on a real estate broker for engaging
in fraud?
License revocation

,Fine
Imprisonment
Reprimand - ANSWER Imprisonment


An___________ real estate broker is a licensed real estate broker who chooses
to work under the name and supervision of a licensed real estate broker. -
ANSWER Associate


Associate brokers may receive commission payments from
Seller
Buyer
Cooperating broker
Sponsoring broker - ANSWER Sponsoring broker


Passed exam results are only valid for a period of ____ years. - ANSWER 2


For what are members of the Board compensated?
Their time
Their expertise
Contractual terms
Expense reimbursements - ANSWER Expense reimbursements


How much is the fee charged by the DOS for an associate broker license?
$50
$185
$15
No fee is charged - ANSWER $185


How many points are given for hotel sales experience?
400
300
250
125 - ANSWER 400

, From whom can a salesperson receive compensation?
From any broker he or she works for
From a broker or client
From his or her sponsoring broker only
From the broker or another licensee in the same firm - ANSWER From his or
her sponsoring broker only


How many points are given for 3 years of certain types of real estate activities?
1,000
3,500
5,250
7,625 - ANSWER 5,250


Which of the following is a requirement for becoming a licensed real estate
broker in NY?
Be at least 21 years old
No misdemeanor convictions
Demonstrate fair knowledge of the English language
Be a US citizen - ANSWER Demonstrate fair knowledge of the English
language


A real estate transaction has four stages. Which of the following is NOT one of
those stages?
Listing the property
Marketing the property
Negotiating the purchase contract
Settling the transaction - ANSWER Marketing the property


How many members of the NYS Board of Real Estate must be real estate
brokers?
5
7
All
None - ANSWER 5

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