Colibri Real Estate Practice Questions and Answers 100% Verified!
53 views 0 purchase
Course
Colibri
Institution
Colibri
Which of the following statements is not true? - ANSWER-A broker is not responsible for the acts of independent contractors.
Which of these statements is true? - ANSWER-Salespersons must perform all of their activities on behalf of their employing broker.
Which of the following circumstances ...
Colibri Real Estate Practice Questions and Answers 100% Verified!
Which of the following would be an example of a licensee specializing in business type?
- ANSWER-Jim specializes in clients who want to buy restaurants.
Which of the following statements is not true? - ANSWER-A broker is not responsible for the acts of independent contractors.
Which of these statements is true? - ANSWER-Salespersons must perform all of their activities on behalf of their employing broker.
Which of the following circumstances would concern you about working for Broker John? - ANSWER-John expects his agents to spend 5 hours a week on unsupervised telephone duty.
Which of the following is not a national real estate trade organization? - ANSWER-CAR
Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall into? - ANSWER-Type of property
Which of the following is NOT a condition of the safe harbor test? - ANSWER-Gross income must be based on hours worked.
A shopping center would be primarily categorized as what type of property? - ANSWER-
Commercial
All of the following are true statements about goals except which one? - ANSWER-Once
you set a goal you should never change it.
Broker Alice has hired several independent contractors in her firm. Which of these activities does she have control over? - ANSWER-What percent of commission the licensees can charge.
If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? - ANSWER-Deposit into the brokerage business account.
A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? - ANSWER-24 months If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? - ANSWER-1 year
Which California Fair Housing law provides protection from discrimination by business establishments? - ANSWER-Unruh Civil Rights Act
A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This broker is guilty of what prohibited activity? - ANSWER-Panic selling
Which of the following is not a source of information for professional ethics codes? - ANSWER-Real estate schools
How long must trust account records be kept? - ANSWER-3 years
Which is not a true statement about the Americans with Disabilities Act? - ANSWER-A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities.
Which Fair Housing Law added sex to the list of protected classes? - ANSWER-
Housing and Community Development Act
Which of these is not an exemption to fair housing law? - ANSWER-The sale of a single-family home by an owner who owns five residences
Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? - ANSWER-7 days
Agent Paul is bound to inform his client of all facts that might affect the client's interests -- both what Paul knows and what he "should have known." Which of these situations would not be something Paul "should know"? - ANSWER-The owner of the property is HIV positive.
The principles of an agency relationship include all of these factors except which one? - ANSWER-Compensation
Which of the following is not a fiduciary duty an agent owes to his or her principal? - ANSWER-Blind obedience
Which disclosure form gives detailed information about the property's condition? - ANSWER-Real Estate Transfer Disclosure Statement
Which of the following types of agency is not allowed in California? - ANSWER-
Designated agency
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 Topgrades20. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.19. You're not tied to anything after your purchase.
