COLIBRI SCHOOL EXAM NJ | QUESTIONS AND ANSWERS
In a real estate transaction the principal would BEST be described as the - 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 ...
In a real estate transaction the principal would BEST be described as the - 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 - 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? - 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? - A trustee
Which of these phrases would LEAST likely be evidence of a conspiracy to commit an
antitrust violation if said by a licensee? - "We would like to suggest that you use Ace
Title Agency for the closing."
Which lease tenancy is engaged in by a holdover tenant? - tenancy at sufferance
RESPA applies to ___________ financed by a federally regulated loan. - one- to four-
family residences.
An bacceleration bclause bin ba bmortgage ballows bthe blender bto b- b bDeclare bthe bloan bdue bif
bthe bbuyer bdefaults
Borrower bBetty's bstable bmonthly bincome bis b$4200. bShe bhas bthree bmonthly bdebts: b$350
bcar bpayment, b$120 bstudent bloan bpayment, band b$80 bcredit bcard bpayment. bWhat bis bthe
bmaximum bmonthly bmortgage bpayment bshe bwould bqualify bfor bon ba bconventional bloan b- b
b$962
Luke bis bMarks blisting bagent. bMark bagrees bthat bLuke bcan bpay b3% bto ba bcooperating
bbroker. bLicensee bLisa bintroduces bbuyer bcustomer bBev bto bMark's bproperty. bWhen bBev
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