Exam (elaborations)
Colibri Real Estate (Real Estate Express) Final Exam questions and answers.
- Course
- Institution
Colibri Real Estate (Real Estate Express) Final Exam questions and answers.
[Show more]
Content preview
Colibri Real Estate (Real EstateExpress) Final Exam questions
and answers
Broker Jane has been accused of a law violation regarding commissions.
Which of the following might result in her being found guilty?
A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was
recently killed in an auto accident. The deceased licensee had earned the
commission prior to his death.
C) Jane paid a commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in
Georgia for licensing activity in Georgia. - answer D) Jane paid a
commission to a Florida licensee who is not licensed in Georgia for
licensing activity in Georgia.
Any salesperson can legally receive her share of the commission on a sale
from
A) her employing broker only.
B) any cooperating broker with whom she completes a sale.
C) a builder she represents in a sale
D) the purchaser of the home in a successful sale. - answer A) her
employing broker only.
Which of the following is NOT a protected class under Georgia fair housing
law?
A) Sexual preference
B) Familial status
,C) Religion
D) Race - answer A) Sexual preference
Syed is an inactive licensee. He just moved to a new home across town.
What must he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the
Commission. - answer C) Send a written notice to the Commission within
30 days.
How many hours of continuing education must a licensee complete for
each year of licensure?
A) 8 hours
B) 9 hours
C) 5 hours
D) 4 hours - answer B) 9 hours
Glenda is the office manager for a local real estate firm. She is responsible
for coordinating the paperwork flow through the office, preparing ads and
supervising the clerical staff. Glenda is
A) required to have a salesperson's license.
B) violating license law.
C) required to have a broker license.
D) exempt from the license law. - answer D) exempt from the license law.
Haru is working with his buyers to draw up a written offer on a property
they want to purchase. Which of the following items is not required in the
offer?
,A) The property description
B) The mortgage lender
C) The method of payment
D) Special stipulations the offer requires - answer B) The mortgage
lender
Kezia just bought and closed on a new home that cost $195,000. her
mortgage amount is $165,500. how much is the intangible recording tax
on Kezia's property?
A) $585
B) $195
C) $165.50
D) $496.50 - answer D) $496.50
*An intangible recording tax is due and payable on each instrument
securing one or more long-term notes at the rate of $1.50 per each $500
$165,500 ÷ $500 = 331
331 x $1.50 = $496.50
Salesperson Gordon refuse to accept an offer to purchase his home from
buyer Juan Valdez of Columbia because Gordon feels the earnest money of
$100 is not enough. Which of the following statements about Gordon's
refusal is correct?
A) Gordon is in violation of fair housing law because he discriminated on
the basis of national origin.
B) Since Gordon refused on the basis of the earnest money, he is not in
violation of fair housing law.
C) Gordon is in violation of civil rights law because he discriminated on the
basis of race.
, D) Gordon is guilty of redlining - answer B) Since Gordon refused on the
basis of the earnest money, he is not in violation of fair housing law.
Jada is a community association manager. Which of the following would be
one of her duties?
A) Advising an owner about his legal liability for a visitor's injury on his
property.
B) Following the instructions of all the owners in the community
association.
C) Lending $1,000 to the community association.
D) Sending a monthly newsletter to the owners. - answer D) Sending a
monthly newsletter to the owners.
Which of the following does NOT need to be included in a property
management agreement?
A) A specific description of the property
B) The names of the owners
C) The names of the tenants
D) The terms of the management fee - answer C) The names of the
tenants
Gary got his license in May of 2021. His birthday is September 28. When
will his license expire?
A) May 31, 2025
B) September 1, 2025
C) September 30, 2025
D) May 1, 2009 - answer C) September 30, 2025
*Real estate licenses expire on the last day of the licensee's birth month,
every 4 years.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now