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final Colibri real estate exam PT Questions Graded A+
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final Colibri real estate exam PT
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final colibri real estate exam PTWho can train office staff at a brokerage firm in weekly meetings? - answer All of the
above
Which step in the construction building process is likeliest to be first? - answer Grading
Without legal capacity and mutual consent in place, courts may likely do what to the
existing contracts or agency relationships? - answer All of the above
The term "business ethics" applies to which of the following statements? - answer A
form of applied ethics that examines ethical principles that arise in a business
environment.
What must a licensee first do before advertising listed property? - answer Obtain the
owner's consent.
A 90-day listing agreement is a type of _____. - answer Special Agency
Which of the following would be an example of personal ethics? - answer All of the
above
Buyer Immanuel's broker finds out information about the seller which will help Immanuel
in the transaction. Loyalty is one of the duties of _____. - answer protection.
A property has sold for $185,000. The listing agreement calls for a commission of 6.5%.
The listing broker and selling broker agree to share the commission equally. What will
the listing agent receive if the agent is scheduled to get a 65% share from his broker? -
answer$3,908
Who is required to be the trustee for a brokerage trust account fund? - answerPrincipal
Broker
Under what type of contract is a seller obligated to sell, but the buyer is not obligated to
buy? - answerOption
What is the name for the act of spending client funds without permission from a trust
fund account? - answerConversion
What must a licensee first obtain before engaging in property management? - answerA
current written property management agreement.
, When may a REALTOR® accept a rebate for services or suggest the use of services of
a business entity in which they have direct interest in? - answerOnly with their client's
knowledge and consent.
What type of bank accounts are trust funds placed into once received from clients? -
answerNon-interest bearing accounts
What is "one click away" as it relates to the real estate profession? - answerWhen a
viewer online can find the agent's contact information with just one click of the mouse,
smartphone, or keyboard
What would be a valid reason for a city to approve a zoning variance? - answerAll of the
Above
Which location is an industrial coal plant least likely to be located? - answerAdjacent to
an Elementary SchoolTo the Buyer
Who can financially be held liable for a Salesperson or Associate Broker being
physically assaulted at an open house showing? - answer
Who does the Buyer's Agent owe their primary loyalty to in a purchase deal? -
answerTo the Buyer
For a dispute to qualify for arbitration, which of the following conditions must be met? -
answerAll of the above.
What should a Principal Broker do when he wants to add new unique clauses to a
complex commercial real estate purchase contract to minimize his risks? - answerSeek
out the advice of a trusted real estate attorney
What can an injured party in a breach of contract situation do to attempt to minimize the
damage? - answerAll of the above
Arbitration refers to what type of claim? - answerA money claim.
How many square miles are there in a township? - answer36
Which method below is NOT a common one used by appraisers when estimating a
building's replacement cost? - answerDrive-by method
Under the Rectangular survey system, which direction do the base lines run on a map?
- answerEast-West
Seller Monica is selling her property to Harriet. What is Monica's primary responsibility
at closing? - answerTo deliver marketable title
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