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2024 COLIBRI REAL ESTATE FINAL EXAM WITH 100% CORRECT ANSWERS $12.99   Add to cart

Exam (elaborations)

2024 COLIBRI REAL ESTATE FINAL EXAM WITH 100% CORRECT ANSWERS

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  • Course
  • COLIBRI REAL ESTATE
  • Institution
  • COLIBRI REAL ESTATE

2024 COLIBRI REAL ESTATE FINAL EXAM WITH 100% CORRECT ANSWERS

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  • August 11, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • joint tenancy 3 of 4
  • COLIBRI REAL ESTATE
  • COLIBRI REAL ESTATE
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Elitaa
2024 COLIBRI REAL ESTATE
FINAL EXAM WITH 100%
CORRECT ANSWERS

When will somebody be deemed a repeat offender? - CORRECT ANSWERS-
a third violation

A broker discussing that he was going to raise commission rates can be
found guilty of: - CORRECT ANSWERS-Price-Fixing

When can a licensee receive commission from both parties in the same
transaction? - CORRECT ANSWERS-Never


buyer pays seller to occupy and use property - CORRECT ANSWERS-land
contract

buyer pays rent and other expenses - CORRECT ANSWERS-net lease

buyer pays only rent - CORRECT ANSWERS-gross lease

Tenants in common, 2 of 3 people die. Who gets the property of those
who died? - CORRECT ANSWERS-goes to heirs

Joint Tenancy, 3 of 4 people die. Who gets property of those who died? -
CORRECT ANSWERS-Tenant owns it in severality

Another word for principal - CORRECT ANSWERS-Client

Protected by Fair Housing Act - CORRECT ANSWERS-race, nat. origin, sex,
color, religion, disability, familial status

Not protected by Fair Housing Act - CORRECT ANSWERS-marital status

telling homeowners that property values will be declining because of
ethical/racial makeup is changing - CORRECT ANSWERS-Blockbusting

broker gets compensation only if someone other than the seller find the
buyer - CORRECT ANSWERS-Exclusive Agency

Parties of a Trust - CORRECT ANSWERS-Trustee, Trustor, Beneficiary

act that added religion and origin as protected classes - CORRECT
ANSWERS-Fair Housing Act

, act that eliminated all racial discrimination in purchasing and selling
homes - CORRECT ANSWERS-Civil Rights Act of 1866

Who funds the FHA (Federal Housing Administration)? - CORRECT
ANSWERS-HUD

Second or subsequent violations cost - CORRECT ANSWERS-$10,000

What happens to a salespersons license when their broker's license is
revoked or suspended? - CORRECT ANSWERS-Their license is
automatically suspended until the end of their license term or until they
find a new broker.

maximum payout amount from the Real Estate Guaranty Fund - CORRECT
ANSWERS-$20,000 per transaction


real estate put to its highest use - CORRECT ANSWERS-flat, paved parking
lot

"This is the most prestigious street in town" - CORRECT ANSWERS-puffing

maximum fine for first offense - CORRECT ANSWERS-$5,000

an individual advertisement needs... - CORRECT ANSWERS-name and
broker

a brokerage advertisement needs... - CORRECT ANSWERS-statement that
they are licensed

if listing is submitted to MLS, must notify customer within... - CORRECT
ANSWERS-48 hours

Licensee must deliver Consumer Info Statement when... - CORRECT
ANSWERS-at their next meeting

a mortgage that covers 2 parcels of land - CORRECT ANSWERS-blanket
mortgage

lease expires, tenants won't leave - CORRECT ANSWERS-tenancy at
sufference

gas company intrudes on land to fix a gas line - CORRECT ANSWERS-
easement in gross

signs the deed at a closing - CORRECT ANSWERS-the seller

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