Colibri Real Estate (Real Estate Express) Exam BUNDLE

Real Estate Principles Final Exam Anything that is fastened or attached to real property permanently is considered to be: - CORRECT ANSWER-Real Property A quitclaim deed releases all present claims, rights and title of the: - CORRECT ANSWER-Grantor When a creditor wants to satisfy a judgment wh...

Real Estate Final Exam (150 Questions ) #1 and Answers (Graded A)

Real Estate Express Final Exam Nationally Accepted General Principles and Practices Real estate that includes non-physical interests, such as easements and restrictions is known as __ - CORRECT ANSWER-Real Property An item permanently attached to real property, such as an attached fence, is inc...

Which of the following is not permitted in a contract lawsuit? a. Liquidated damages b. Actual damages c. Specific performance d. Punitive damages d. Punitive damages A non-conforming loan fails to meet whose underwriting standards? a. The primary lender b. The provider of the mortgagee titl...

Which item below can help protect against a home with a listed incorrect street address or legal description in public records? - CORRECT ANSWER-Standard coverage title insurance policy and extended coverage title insurance policy Robert owns his property and enjoys the full bundle of rights. Can...

Which of the following cannot be a trustee? - CORRECT ANSWER-CPA The discount points are 3%, which represents $2,700. The buyer down payment is 20%. What is the purchase price of the property - CORRECT ANSWER-100%-20%= 80% $2,700/3%= $90,000 90,000/80%= $112,500 A method of legal description t...

If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - CORRECT ANSWER-The salesperson's sponsoring broker A means of comparing similar type properties, which have recently sold, to the subject property is known as the? - CORRECT ANSWER-Market Compariso...

Sellers market their property using a __________. - CORRECT ANSWER-listing agreement When the licensee has a buyer brokerage agreement with a purchaser, he or she must represent the best interests of the ___ rather than the ___. - CORRECT ANSWER-buyer,seller In most cases, buyers cannot make a ...

Florida Real Estate Class Final Exam A Business Broker - CORRECT ANSWER-Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - CORRECT ANSWER-Keeping in contact with the new...

Colibri Vocabulary, Chapters 1-20 Exam Questions and Answers Already Passed

Colibri School Exam NJ 2023 In a real estate transaction the principal would BEST be described as the - CORRECT ANSWER-Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet...

land contract - CORRECT ANSWER-buyer pays seller to occupy and use property net lease - CORRECT ANSWER-buyer pays rent and other expenses gross lease - CORRECT ANSWER-buyer pays only rent goes to heirs - CORRECT ANSWER-Tenants in common, 2 of 3 people die. Who gets the property of those who die...

Colibri Real Estate (Real Estate Express) Final Exam Review Verified Q&A Actual Test Questions

Appraisal - CORRECT ANSWER-An estimation of value. It is done by appraisers using specific techniques. Done to: obtain a loan, insurance value, divorce settlement or capital gain. Broker Price Opinion - CORRECT ANSWER-An opinion by a local expert of the of the value of a property based upon prop...