Colibri Real Estate (Real Estate Express) Final Exam Review 2024 Questions and Answers 100% Pass
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Course
Colibri Real Estate
Institution
Colibri Real Estate
Colibri Real Estate (Real Estate Express)
Final Exam Review 2024 Questions and
Answers 100% Pass
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.
...
Colibri Real Estate (Real Estate Express) Final Exam Review 2024 Questions and Answers 100% Pass 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. - Correct Answer ✔️✔️-D) Jane paid a commission to a Florida licensee who is n ot 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. - Correct 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 - Correct 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. - Correct Answer ✔️✔️-C) Send a written notice to the Commission within 30 days. How many hours of continuing education m ust a licensee complete for each year of licensure? A) 8 hours B) 9 hours C) 5 hours D) 4 hours - Correct 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. - Correct 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 propert y description B) The mortgage lender C) The method of payment D) Special stipulations the offer requires - Correct 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 i s the intangible recording tax on Kezia's property? A) $585 B) $195 C) $165.50 D) $496.50 - Correct 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 e ach $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 abou t 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 v iolation of civil rights law because he discriminated on the basis of race. D) Gordon is guilty of redlining - Correct 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 as sociation 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.
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