COLIBRI REAL ESTATE
PRACTICE FINAL EXAM
WITH QUESTIONS AND
WELL VERIFIED ANSWERS
Why is the condition of bearing walls more important than non
... [Show More]
bearing walls? - ANS✔✔---Bearing walls support the ceiling
and the roof.
What is a forecast of income and expenses that can be projected
over five years? - ANS✔✔---Stabilized budget
A buyer told broker Lena that she wants to move to Cuban
neighborhood. Then the buyer asked if Lena could show her the
best home in a Cuban area. How should Lena respond to this
request? - ANS✔✔---Lena should explain to the buyer that she
ethically and legally cannot recommend housing based on
national origin.
Owner Tom decided to lease out his basement to a college
student. By leasing the basement, Tom has - ANS✔✔---
transferred a portion of his bundle of rights
Which of the following wills may be considered invalid? -
ANS✔✔---A will that is not signed.
Which of the following statements best describes what happens
with a judicial foreclosure? - ANS✔✔---The mortgaged property
is sold under the supervision of a court.
Which of the following best describes the principle of conformity?
- ANS✔✔---A home maintains its highest value by being in a
neighborhood with similar-type housing.
The cost of doing direct mail advertising depends on - ANS✔✔-
--The frequency of the mailings
A type of mortgage which allows the lender to increase the
outstanding balance of a loan up to the original amount of the
loan in order to advance additional funds is called an -
ANS✔✔---open-end mortgage
Of the following liens: a $100,000 mortgage, a $2,500 property
tax bill, and a $8,000 mechanic's lien and a $25,000 judgement
lien, which will be paid off first after a foreclosure sale? -
ANS✔✔---The $2,500 property tax lien
On a $280,000 loan, the lender charges a 2 point service charge.
How much does the borrower have to pay for just these two
points? - ANS✔✔---$5,600
Broker Torrey hires salesperson Wes as an independent
contractor. As an independent contractor, Wes can expect which
of the following from Broker Torrey? - ANS✔✔---Performance
Expectations
A seller decided to back out of a sales contract for no good
reason. What recourse does the buyer have? - ANS✔✔---To
sue for specific performance.
.
How does Planned Unit Development zoning differ from ordinary
zoning? - ANS✔✔---I requires that multiple tracts of land be
developed according to a single design for efficient use of space.
Home Hoarding Realty is advertising to the public that their
managing broker has been in the business 37 years and has sold
over 1,250 homes. This is an example of - ANS✔✔---
institutional advertising
Which of the following would qualify as an example of retail
property? - ANS✔✔---A shopping center
What are the primary advantages of PEX piping? - ANS✔✔---
PEX piping is able to withstand both [Show Less]