Colibri School Exam NJ 2024(updated)question and answers rated A+.
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Course
Colibri Real Estate
Institution
Colibri Real Estate
Colibri School Exam NJ 2023(updated)question and answers rated A+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 pl...
Colibri School Exam NJ
2024(updated)question and answers
rated A+
In a real estate transaction the principal would BEST be described as the - 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 knows that the homeowners
association CC&Rs would prohibit this to protect the historic character of the
neighborhood, but he doesn't tell the buyer for fear she'll loose interest in the house. Bert
has committed - ANSWER-Actual fraud
Which situation is NOT EXEMPT from the provisions of federal fair housing laws, assuming
no discriminatory advertising is used and a licensee is not involved? - ANSWER-Barb is an
owner-occupant of a duplex who will lease the other unit only to a white woman
Danita gets a deed of trust from ABC bank to finance the purchase of a house in Sunny
Acres, a new subdivision. While the loan is outstanding, who holds the title to Danita
property? - ANSWER-A trustee
,Which of these phrases would LEAST likely be evidence of a conspiracy to commit an
antitrust violation if said by a licensee? - ANSWER-"We would like to suggest that you use
Ace Title Agency for the closing."
Which lease tenancy is engaged in by a holdover tenant? - ANSWER-tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. - ANSWER-one- to four-
family residences.
An acceleration clause in a mortgage allows the lender to - ANSWER-Declare the loan due if
the buyer defaults
Borrower Betty's stable monthly income is $4200. She has three monthly debts: $350 car
payment, $120 student loan payment, and $80 credit card payment. What is the maximum
monthly mortgage payment she would qualify for on a conventional loan - ANSWER-$962
Luke is Marks listing agent. Mark agrees that Luke can pay 3% to a cooperating broker.
Licensee Lisa introduces buyer customer Bev to Mark's property. When Bev decides to
make an offer on the house, she calls Luke directly. Luke refuses to pay Lisa any
commission. Lisa could argue that she is entitled to a commission because she is the -
ANSWER-Procuring cause
Procuring Cause - ANSWER-
, A licensee who is interested in retail stores and shopping centers should look into entering:
residential real estate.
commercial real estate.
real estate counseling.
real estate appraisal. - ANSWER-Commercial
Of the following, which would NOT likely be a prospect?
Blogs
FSBOs
People in your target audience
Sphere of influence - ANSWER-Blogs
Which of the following is considered the most important factor in real estate value due to
the limited supply of land and immobility of real estate?
Location
Price
Appearance
Size - ANSWER-Location
What do most new real estate licensees do after passing the state exam and receiving the
state license?
Begin investing in real estate
Become a real estate attorney
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