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Colibri Real Estate Final Exam Questions with 100% Correct Answers | Latest Update | Verified
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  • Course
  • Colibri Real Estate
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  • Colibri Real Estate

Wetlands: need a permit for... - ️️clearing, adding structures, draining/filling, pesticides Open house, declined agency relationship... What does the agent owe the person? - ️️honesty buyer p Protected by Fair Housing Act - ️️race, nat. origin, sex, color, religion, disability, fa...

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  • September 22, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Colibri Real Estate
  • Colibri Real Estate

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PatrickKaylian

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Colibri Real Estate Final Exam
Wetlands: need a permit for... - ✔️✔️clearing, adding structures, draining/filling,
pesticides

Open house, declined agency relationship... What does the agent owe the person? -
✔️✔️honesty

buyer p Protected by Fair Housing Act - ✔️✔️race, nat. origin, sex, color, religion,
disability, familial status
ays seller to occupy and use property - ✔️✔️land contract

buyer pays rent and other expenses - ✔️✔️net lease

buyer pays only rent - ✔️✔️gross lease

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

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

Another word for principal - ✔️✔️Client


Not protected by Fair Housing Act - ✔️✔️marital status

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

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

"This is the most prestigious street in town" - ✔️✔️puffing

maximum fine for first offense - ✔️✔️$5,000

an individual advertisement needs... - ✔️✔️name and broker

a brokerage advertisement needs... - ✔️✔️statement that they are licensed

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

, Licensee must deliver Consumer Info Statement when... - ✔️✔️at their next meeting

a mortgage that covers 2 parcels of land - ✔️✔️blanket mortgage

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

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

signs the deed at a closing - ✔️✔️the seller

least likely to require a legal description - ✔️✔️listing agreement

agent takes on a listing, decides to buy house for themselves - ✔️✔️let the client know

leak in the house, seller is trying to hide it but the agent finds it - ✔️✔️disclose it to the
buyers

agent switches brokerages, what happens to their listings? - ✔️✔️listings stay with
brokerage

a seller wants a certain amount, the rest of the money goes to the agent as commission
- ✔️✔️net listing

refusing to make loans in a minority neighborhood - ✔️✔️redlining

NOT an element for a valid and enforceable contract - ✔️✔️consequence

seller keeps earnest money deposit when the buyer backs out - ✔️✔️liquidity damages

LEAST likely to be needed in a lease - ✔️✔️security deposit

pledge of property as collateral for a loan - ✔️✔️hypothecation

lender must deliver loan estimate within ... - ✔️✔️7 business days

broker pays agent within... - ✔️✔️10 days of receipt

beginning point (street name), then the direction to go - ✔️✔️metes and bounds

What can an unlicensed assistant NOT do? - ✔️✔️call for late payments

principal, interest, taxes, insurance - ✔️✔️PITI

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