Exam (elaborations)
Colibri Real Estate (Real Estate Express) Final Exam Review Best Study Guide 2024/2025
- Course
- Real estate
- Institution
- Colorado College
Colibri Real Estate (Real Estate Express) Final Exam Review
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Colibri Real Estate (Real Estate Express)Final Exam Review
1. Broker Jane has been accused of a law violation regarding
commissions. Which of the following might result in her
being found guilty?
A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees
who was recently killed in an auto accident. The deceased
licensee had earned the commission prior to his death.
C) Jane paid a commission plus a bonus to one of her
licensees.
D) Jane paid a commission to a Florida licensee who is not
licensed in Georgia for licensing activity in Georgia.: D) Jane
paid a commission to a Florida licensee who is not licensed in
Georgia for licensing activity in Georgia.
2. Any salesperson can legally receive her share of the
commission on a sale from
A) her employing broker only.
,B) any cooperating broker with whom she completes a sale.
C) a builder she represents in a sale
D) the purchaser of the home in a successful sale.: A) her
employing broker only.
3. Which of the following is NOT a protected class under
Georgia fair housing law?
A) Sexual preference
B) Familial status
C) Religion
D) Race: A) Sexual preference
4. Syed is an inactive licensee. He just moved to a new home
across town. What must he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate
his license. C) Send a written notice to the Commission
within 30 days.
D) Notify the post office to send a change of address notice
to the Commis- sion.: C) Send a written notice to the
Commission within 30 days.
5. How many hours of continuing education must a licensee
complete for each year of licensure?
,A) 8 hours
B) 9 hours
C) 5 hours
D) 4 hours: B) 9 hours
6. Glenda is the office manager for a local real estate firm.
She is responsible for coordinating the paperwork flow
through the office, preparing ads and supervising the clerical
staff. Glenda is
A) required to have a salesperson's license. B) violating
license law.
C) required to have a broker license.
D) exempt from the license law.: D) exempt from the license
law.
7. Haru is working with his buyers to draw up a written offer on
a property they want to purchase. Which of the following
items is not required in the offer?
A) The property description
B) The mortgage lender
C) The method of payment
D) Special stipulations the offer requires: B) The mortgage
lender
, 8. Kezia just bought and closed on a new home that cost
$195,000. her mort- gage amount is $165,500. how much is the
intangible recording tax on Kezia's property?
A) $585
B) $195
C) $165.50
D) $496.50: D) $496.50
*An intangible recording tax is due and payable on each
instrument securing one or more long-term notes at the rate of
$1.50 per each $500
$165,500 ÷ $500 = 331
331 x $1.50 = $496.50
9. Salesperson Gordon refuse to accept an offer to purchase
his home from buyer Juan Valdez of Columbia because
Gordon feels the earnest money of
$100 is not enough. Which of the following statements about
Gordon's refusal is correct?
A) Gordon is in violation of fair housing law because he
discriminated on the basis of national origin.
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