Exam (elaborations)
Colibri Chapter 1, 2, 3 Questions with Accurate Answers
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Colibri Chapter 1, 2, 3
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Colibri Chapter 1, 2, 3The Knowledge of Property Transfer - - answerby deed, will, inheritance or the use of
contracts, or trusts.
Knowledge of Market Conditions - - answerthe level of listings on the market, how the
property may be financed, how quickly property sells and the value of a property
Knowledge of How to Market Real Estate - - answertechniques that include proper
pricing, disclosure to both the buyer and the seller, service to the buyers and sellers,
and maintaining relationships with other real estate professionals.
real estate brokerage business brings interested parties together to ... - answersell,
lease, rent or exchange real property.
Real estate professionals often specialize in one particular geographic area or property
type. In real estate world, this is known as . - answerFarming
Licensee may choose - answerSales
Leasing
Management
Counseling
There are Six Major Real Estate Property Types: - answerResidential property - a family
home that is 4 units or less, or vacant land that has been zoned for 4 units or less.
Commercial property - income producing property - retail center or an apartment (4+
units)
Industrial property - usually manufactures or distributes products
Agricultural property - a farm or ranch land 10+ acres.
Business opportunity - an investor purchasing an income producing business.
Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
property manager is defined as - answerthe professional who preserves the value of an
investment (by an owner) while generating income as an agent for the owner and acts
as a fiduciary to the owner.
, Fiduciary is a person ... - answerthat has a duty to act primarily for another's benefit,
four types of maintenance a property manager may be tasked to perform: -
answerPreventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
3 Methods to determine value - answerAppraisal - conducted by appriasers
Broker Price Opinion - local expert opinion
Comparative Market Analysis -
3 Types of residential contruction - answerSpec homes - inventory
Tract homes - built to certain guidelines
custom homes - built for a specific buyer
There are a variety of professional organizations which also support and endorse the
real estate business. The largest is the - answerNational Association of REALTORS®,
whose Code of Ethics and certification/designations are influential in their goals to
protect private property rights, promote home ownership, and lobby to maintain
reasonable credit and other standards at the federal level for shelter for everyone.
Which is NOT commonly an area of federal government interference in real property? -
answerzoning laws
Local communities regulate real estate by - answercreating zoning laws.
One example of a Loan Originator would be a(n) - answerseller who finances more than
two homes in a two year period.
2 years (3 items) - answer1. Time an application remains effective for state exam
2. Time pre-licensure course is effective for state exam
3. Minimum experience time for a sales associate to become a broker
4. months - answerMinimum time for establishing residency in Florida
5 days - answerMinimum timeframe between submitting fingerprints and applying for a
license
5 years - answerTime for reapplication allowance after revocation of a license
6 months - answerTime that FDLE will expunge fingerprint background records from
their files
10 days - answerTime to notify DBPR/FREC of change of address within Florida
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