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Colibri Real Estate (Real Estate Express) Final Exam Review questions with correct answers
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Colibri Real Estate (Real Estate Express) Final Exam Review questions with correct answers
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Colibri Real Estate (Real Estate Express) Final ExamReview questions with correct answers
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 not 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 must 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 property 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 is 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 each $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 about
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 violation 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.
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