Exam (elaborations)
final colibri real estate exam PT
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final colibri real estate exam PT
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final colibri real estate exam PTWho can train office staff at a brokerage firm in weekly meetings? - -All of
the above
- Which step in the construction building process is likeliest to be first? - -
Grading
- Without legal capacity and mutual consent in place, courts may likely do
what to the existing contracts or agency relationships? - -All of the above
- The term "business ethics" applies to which of the following statements? -
-A form of applied ethics that examines ethical principles that arise in a
business environment.
- What must a licensee first do before advertising listed property? - -Obtain
the owner's consent.
- A 90-day listing agreement is a type of _____. - -Special Agency
- Which of the following would be an example of personal ethics? - -All of
the above
- Buyer Immanuel's broker finds out information about the seller which will
help Immanuel in the transaction. Loyalty is one of the duties of _____. - -
protection.
- A property has sold for $185,000. The listing agreement calls for a
commission of 6.5%. The listing broker and selling broker agree to share the
commission equally. What will the listing agent receive if the agent is
scheduled to get a 65% share from his broker? - -$3,908
- Who is required to be the trustee for a brokerage trust account fund? - -
Principal Broker
- Under what type of contract is a seller obligated to sell, but the buyer is
not obligated to buy? - -Option
- What is the name for the act of spending client funds without permission
from a trust fund account? - -Conversion
- What must a licensee first obtain before engaging in property
management? - -A current written property management agreement.
, - When may a REALTOR® accept a rebate for services or suggest the use of
services of a business entity in which they have direct interest in? - -Only
with their client's knowledge and consent.
- What type of bank accounts are trust funds placed into once received from
clients? - -Non-interest bearing accounts
- What is "one click away" as it relates to the real estate profession? - -
When a viewer online can find the agent's contact information with just one
click of the mouse, smartphone, or keyboard
- What would be a valid reason for a city to approve a zoning variance? - -All
of the Above
- Which location is an industrial coal plant least likely to be located? - -
Adjacent to an Elementary SchoolTo the Buyer
- Who can financially be held liable for a Salesperson or Associate Broker
being physically assaulted at an open house showing? - -
- Who does the Buyer's Agent owe their primary loyalty to in a purchase
deal? - -To the Buyer
- For a dispute to qualify for arbitration, which of the following conditions
must be met? - -All of the above.
- What should a Principal Broker do when he wants to add new unique
clauses to a complex commercial real estate purchase contract to minimize
his risks? - -Seek out the advice of a trusted real estate attorney
- What can an injured party in a breach of contract situation do to attempt to
minimize the damage? - -All of the above
- Arbitration refers to what type of claim? - -A money claim.
- How many square miles are there in a township? - -36
- Which method below is NOT a common one used by appraisers when
estimating a building's replacement cost? - -Drive-by method
- Under the Rectangular survey system, which direction do the base lines
run on a map? - -East-West
- Seller Monica is selling her property to Harriet. What is Monica's primary
responsibility at closing? - -To deliver marketable title
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