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Colibri Real Estate Final Exam Part One Questions With Complete Solutions
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Colibri Real Estate Final Exam Part One Questions With Complete Solutions
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Colibri Real Estate Final Exam Part OneQuestions With Complete Solutions
_________ is an increase in the cost of goods or services.
Correct Answers Inflation
"The brokerage will provide the owner with a list of names of all
persons, with whom the brokerage or any other person
negotiated concerning the above described property during the
period of this listing no later than 14 days, subsequent to the
termination date of the listing agreement. If the property is sold
to any person name in the list prior to the real listing of the
property, without the services of another brokerage, and within
90 days of the termination date of this contract, seller agrees to
pay the brokerage a commission of 6.5%. " this is an example of
a/an Correct Answers Extender or broker protection clause
A buyer and seller were inspecting a property, prior to the buyer
making an offer. The property was occupied by a tenant at the
time of inspection. The seller told the buyer that the garden
furniture would be included in the sale. However, the buyer
discovers upon possession that the garden furniture belonged to
the tenant, not the seller. Is the buyer entitled to the garden
furniture? Correct Answers No, because the garden furniture
was the tenant's real property.
A buyer asked you rather there any non-sex offenders in the
area. Of these choices. Which is the best option? Correct
Answers Direct the buyer to the local sex offenders alert
website
,A buyer is looking at a house in a neighborhood with newly
installed sidewalks, and the buyer ask about taxes, the seller
assures them that the home isn't subject to any special
assessments. The buyers agent should? Correct Answers
Advise the buyer that the property may be subject to special
assessments and recommend at the buyer look into it
A buyer purchases a rental home that is fully furnished. The
document used to transfer title to the furniture is a Correct
Answers bill of sale.
A licensee can begin working once Correct Answers the
employing broker receives the licensee's wall license
A licensee on inactive status is NOT exempt from the
requirements of license law. Correct Answers True
A licensee on inactive status who changes his address must
notify the Commission of the new address Correct Answers
within 30 days
A licensee who wants to activate a lapsed license that has been
on inactive status for a less than two years may do so by Correct
Answers paying the required fees.
A licensee will be working for a firm as an independent
contractor. The firm must provide the broker with Correct
Answers an independent contractor agreement.
, A parcel of land is 500 feet wide and 135 yards long . What's the
age property ? Correct Answers First , you need to convert the
length of 135 yards to feet ( 135 x 3405 ) . Then , multiply the
length by the width to find the square footage ( 405 x
500=202,500 )
A real estate licensee is more likely to be an employee od his
broker. True or False? Correct Answers False
A real estate licensee who is an independent contractor is paid
based on successful real estate transactions , not on hours
worked. True or False? Correct Answers True
A tenant farmer has occupied a farm on which they have grown
crops for several years. The landowner sells the farm to
someone else who immediately gives the tenant notice to vacate.
The timing of the notice will mean the crops currently in the
ground will not be ready for harvest before the end of her lease.
Who do the crops belong to? Correct Answers the tenant
A transaction will include a home warranty. The sellers agent
should find out? Correct Answers Which party will be
responsible for the premium
According to Georgia Code, what character traits are necessary
for licensure? Correct Answers Honesty, trustworthiness,
integrity, competence
According to reciprocity, Correct Answers a nonresident
licensee may have to meet Georgia exam requirements if her
home state's exam requirements are not comparable to Georgia's
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