Colibri Real Estate Bundled Exams with complete solutions

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 _______. - ️️Tester What is NOT required between two parties as it relates to the violation of "mutual assent"? - ️️Written ...

All of the following are true statements about goals except which one? - ️️Once you set a goal you should never change it. Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall into? - ️️Type of property Which of the following statem...

Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny Acres, a new subdivision. While the loan is outstanding, who holds the title to Danita property? - ️️A trustee Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming no dis...

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 mortga...

What is the name for the act of spending client funds without permission from a trust fund account? - ️️Conversion Without legal capacity and mutual consent in place, courts may likely do what to the existing contracts or agency relationships? - ️️All of the above Which step in the const...

What must happen with all funds in a sale - ️️All money that belongs to clients or customers must be deposited in the brokerage trust fund as soon as possible ASAP after receipt . A property's value is $ 125,000 and its land value is $ 10,000 . Assuming a depreciation term of 35 years , wha...

When the agency relationship has been terminated, the licensee is no longer considered the principal's agent but still owes which of the following duties to the principal? - ️️Accounting Which of the following may not involuntarily terminate an agency relationship? - ️️Expiration of the...

Wetlands: need a permit for... - ️️clearing, adding structures, draining/filling, pesticides Open house, declined agency relationship... What does the agent owe the person? - ️️honesty buyer p Protected by Fair Housing Act - ️️race, nat. origin, sex, color, religion, disability, fam...