Colibri Real Estate Final Exam (KY) 1 questions with correct answers
2 views 0 purchase
Course
Real Estate
Institution
Real Estate
Broker Joy just signed a listing agreement with a seller. When should Joy schedule an office tour? Correct Answer-Within a week after the listing is taken
What is NOT required between two parties as it relates to the violation of "mutual assent"? Correct Answer-Written contacts
Title insuranc...
Colibri Real Estate Final Exam (KY) 1 questions with
correct answers
Broker Joy just signed a listing agreement with a seller. When should
Joy schedule an office tour? Correct Answer-Within a week after the
listing is taken
What is NOT required between two parties as it relates to the violation
of "mutual assent"? Correct Answer-Written contacts
Title insurance protects more against _______. Correct Answer-Past
events
Who has the most liability in a fiduciary relationship dispute over a real
estate transaction? Correct Answer-Principal broker
Who is required to be the trustee for a brokerage trust account fund?
Correct Answer-Principal broker
According to article 2, which of the following statements are TRUE?
Correct Answer-REALTORS® must disclose all known material facts
but are not obligated to discover latent defects in the property.
Vicky was posing as a customer of Establishment Realty. However, she
was really there to see if Establishment Realty was following fair
housing laws. Vicky was a _______. Correct Answer-Tester
, What is physically and financially feasible, legal, and the most
productive for a property? Correct Answer-Its highest and best use
A party with all ownership rights in a property is said to hold ______.
Correct Answer-legal title
What is the name of the act of mixing personal funds with client funds in
a trust fund account? Correct Answer-Commingling
What type of agency cannot be revoked by the principal, nor is
terminated if the principal dies? Correct Answer-Agency coupled with
an interest
Which national group has tried to stop real estate licensees from
handling any contacts? Correct Answer-American Bar Association
Without legal capacity and mutual consent in place, courts may likely do
what to the existing contracts or agency relationships? Correct Answer-
Void them, Rescind them, Cancel them
An exclusive listing agreement may contain _______. Correct Answer-
Listing terms of less than one year
Which land measurement system uses the physical features of land the
most to identify it? Correct Answer-Metes and bounds
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller cracker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
