Colibri Real Estate Practice Questions & Answers 100% Correct Verified 2024 Version
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Colibri Real Estate Practice Questions & Answers |
100% Correct | Verified 2024 Version
Which of the following would be an example of a licensee specializing in business type? - Jim
specializes in clients who want to buy restaurants.
Which of the following statements is not true? - A broker is ...
Colibri Real Estate Practice Questions & Answers |
100% Correct | Verified 2024 Version
Which of the following would be an example of a licensee specializing in business type? - ✔✔Jim
specializes in clients who want to buy restaurants.
Which of the following statements is not true? - ✔✔A broker is not responsible for the acts of
independent contractors.
Which of these statements is true? - ✔✔Salespersons must perform all of their activities on behalf of
their employing broker.
Which of the following circumstances would concern you about working for Broker John? - ✔✔John
expects his agents to spend 5 hours a week on unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - ✔✔CAR
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 is NOT a condition of the safe harbor test? - ✔✔Gross income must be based on
hours worked.
A shopping center would be primarily categorized as what type of property? - ✔✔Commercial
All of the following are true statements about goals except which one? - ✔✔Once you set a goal you
should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these activities does she
have control over? - ✔✔What percent of commission the licensees can charge.
,If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? -
✔✔Deposit into the brokerage business account.
A person who believes he or she has been discriminated against has how long from the time of the
alleged violation to file a suit in a state or federal court? - ✔✔24 months
If a person believes he or she has been discriminated against, how long does he or she have to file a HUD
complaint? - ✔✔1 year
Which California Fair Housing law provides protection from discrimination by business establishments? -
✔✔Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This
broker is guilty of what prohibited activity? - ✔✔Panic selling
Which of the following is not a source of information for professional ethics codes? - ✔✔Real estate
schools
How long must trust account records be kept? - ✔✔3 years
Which is not a true statement about the Americans with Disabilities Act? - ✔✔A duplex owner might
need to remodel the kitchen in the rental unit to accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - ✔✔Housing and Community
Development Act
Which of these is not an exemption to fair housing law? - ✔✔The sale of a single-family home by an
owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after signing the
purchase contract? - ✔✔7 days
, Agent Paul is bound to inform his client of all facts that might affect the client's interests -- both what
Paul knows and what he "should have known." Which of these situations would not be something Paul
"should know"? - ✔✔The owner of the property is HIV positive.
The principles of an agency relationship include all of these factors except which one? -
✔✔Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? - ✔✔Blind obedience
Which disclosure form gives detailed information about the property's condition? - ✔✔Real Estate
Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? - ✔✔Designated agency
When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the
seller? - ✔✔Prior to accepting the listing.
If an agent does not comply with the requirement of conducting a visual inspection of a property, how
long after possession does the buyer have to file a suit? - ✔✔24 months
Which booklet is not part of the Combined Hazards Book? - ✔✔Consumer Guide to Disclosure for Buyers
Which disclosure is required by the Real Estate Settlement Procedures Act? - ✔✔Good faith estimate
All of these are true of prospecting except: - ✔✔It guarantees sales.
Developing a prospecting plan is similar to: - ✔✔Establishing goals.
Which of these Internet pages might be of particular interest to sellers? - ✔✔Staging a home
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