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Colibri Real Estate Law Questions With Correct Answers
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Colibri Real Estate Law Questions With Correct Answers
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Colibri Real Estate Law Questions With CorrectAnswers
The discovery step of civil cases is where
the parties use a mediator.
the complaint is filed.
each party presents their case.
each party gathers information from each other and third parties. Correct
Answer-each party gathers information from each other and third
parties.
What phrase could a licensee use in advertising that would not
discriminate on the basis of familial status?
Couples only
Empty nesters
No bicycles allowed
Senior discount Correct Answer-Senior discount
Who is charged with the responsibility of making sure that owners do
not use their property in a way that will harm the public?
The Real Estate Commission
The HOA
The government
The zoning committee Correct Answer-The HOA
,What type of residential survey, also called a drive-by survey, is
designed to show the location of the house and other large structures on
the property?
A house location survey
A cadastral land survey
A site survey
A boundary survey Correct Answer-A house location survey
What type of lien is one placed against any and all real and personal
property owned by a particular debtor?
A specific lien
A general lien
A senior lien
A junior lien Correct Answer-A general lien
What describes when a borrower requests that the lender replace him or
her on the loan instrument with a new buyer who must go through a
process of full substitution?
Restoration
Novation
Successor
Renewal Correct Answer-Novation
When working with any client, the broker's job is to
protect the broker's interest.
,protect the client's interest.
get the best price.
establish a good rapport. Correct Answer-protect the client's interest.
In creating a joint tenancy, there are four unities. Which of the following
is NOT one of the four?
Unity of Time
Unity of Possession
Unity of Interest
Unity of Origination Correct Answer-Unity of Origination
The collection of Roman law contributed the model for which type of
law?
Civil law
Criminal law
Case law
Common law Correct Answer-Civil law
What term, in the California Civil Code addressing mobile home
residency, describes the right of a homeowner to use the site within a
mobile home park?
Leasehold
Specific use
Tenancy
, Propriety Correct Answer-Tenancy
Who serves as the chief executive of the Department of Real Estate in
California?
The CEO of CalDRE
The California Real Estate Commissioner
The California Executive Branch
The Chief Executive Officer of California Correct Answer-The
California Real Estate Commissioner
What have lenders established to protect borrowers from unlimited
increases in the interest rate?
Mortgage caps
Rate caps
Payment caps
Amortization caps Correct Answer-Rate caps
What type of contract consists of obligations arising from a mutual
agreement and intent to promise where the agreement and promise have
not been expressed in words?
An unconscionable contract
An aleatory contract
An implied contract
A unilateral contract Correct Answer-An implied contract
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