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2024 COLIBRI REAL ESTATE PRACTICE EXAM WITH CORRECT ANSWERS
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2024 COLIBRI REAL ESTATE PRACTICE EXAM WITH CORRECT ANSWERS
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2024 COLIBRI REAL ESTATEPRACTICE EXAM WITH CORRECT
ANSWERS
What kind of lease contains a recapture clause? - CORRECT ANSWERS-
Percentage
When can a landlord enter a tenant's property to make repairs or show it? -
CORRECT ANSWERS-During business hours and only after giving the tenant
24 hours notice.
The IREM designation reserved for individuals who meet a certain level of
education and experience is: - CORRECT ANSWERS-CPM
Which of the following would be an example of a licensee specializing in
business type? - CORRECT ANSWERS-Jim specializes in clients who want to
buy restaurants.
Which of the following statements is not true? - CORRECT ANSWERS-A broker
is not responsible for the acts of independent contractors.
Which of these statements is true? - CORRECT ANSWERS-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? - CORRECT ANSWERS-John expects his agents to spend 5 hours
a week on unsupervised telephone duty.
Which of the following represents an intangible business asset? - CORRECT
ANSWERS-Goodwill
When setting up a rent schedule, a property manager should analyze all but
which of the following? - CORRECT ANSWERS-New home sales
A lease that has no time limit is an: - CORRECT ANSWERS-Estate at will
When a tenant agrees to pay all taxes, insurance, maintenance and repairs,
that tenant has what kind of lease? - CORRECT ANSWERS-Net
, Which is the more accurate list of duties for a property manager? - CORRECT
ANSWERS-renting units; hiring personnel to staff buildings; inspections of
properties
Which of the following is not a national real estate trade organization? -
CORRECT ANSWERS-CAR
Alice has decided that she will specialize in selling farm land. Which area of
specialization would she fall into? - CORRECT ANSWERS-Type of property
Which of the following is NOT a condition of the safe harbor test? - CORRECT
ANSWERS-Gross income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? -
CORRECT ANSWERS-Commercial
All of the following are true statements about goals except which one? -
CORRECT ANSWERS-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? - CORRECT ANSWERS-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? - CORRECT ANSWERS-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? - CORRECT ANSWERS-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? - CORRECT ANSWERS-1 year
Which California Fair Housing law provides protection from discrimination by
business establishments? - CORRECT ANSWERS-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? -
CORRECT ANSWERS-Panic selling
Which of the following is not a source of information for professional ethics
codes? - CORRECT ANSWERS-Real estate schools
How long must trust account records be kept? - CORRECT ANSWERS-3 years
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