pg. 1
COLIBRI REAL ESTATE 30 HOUR FINAL EXAM 2025/2026
TEST BANK| ACTUAL EXAM WITH COMPLETE 300
QUESTIONS AND VERIFIED ANSWERS (100% CORRECT
ANSWERS) ALREADY GRADED A+
A time-share salesperson is required to complete 30 hours of instruction in a Time Shares Sales class before he can be licensed. Which of the following is not an area of study for a time share salesperson's license?
A). Sales Financing B). Sales Ethics C). Sales Practices and Procedures D). Basic Contract Law - Correct Answer - A
Ted is a broker who is a property management broker. He receives the monthly rent from the tenant and puts the monthly rent money in his escrow account along with the security deposit money. The Commission charges Ted with a license law violation. What is the problem?
A). A property management broker must have an operating account.B). A property management broker must have a rental management account where rent is deposited.C). A property management broker must have an escrow account, two operating accounts and a security deposit account.D). A property management broker must have a security deposit account and an operating account. - Correct Answer - B
A salesperson does all of the following EXCEPT: 1 / 4
pg. 2
A). Sells or offers to sell real estate B). Signs listings and places the property data in the multiple service C). Performs a comparative market analysis D). Retains records of transactions for three years - Correct Answer - D
Which of the following approaches to value figures the land separately from the value of the improvements?
A). Market Data.B). Cost Approach.C). Income Approach.D). Functional obsolescence. - Correct Answer - B
An office building has a Potential Gross Income of $12,600 per year. The vacancy rate is 5% and the annual expenses are $3,600. What is the market value if the capitalization rate is 12%?
A). $15,120.00
B). $69,750.00
C). $99,750.00
D). $105,000.00 - Correct Answer - B
What is the principal mechanism for implementing a master plan?
A). Zoning B). Referendum C). Public election D). Property management - Correct Answer - A 2 / 4
pg. 3 The seller was very happy with his salesperson that after the sale was completed, the seller sent the salesperson a check which was not part of the commission check. His broker did not know anything about it. Which of the following is true?
A). The salesperson can accept the bonus check since it was after closing and had nothing to do with the Broker/broker.B). The salesperson should give the check to his broker since all business is done in the name of the broker.C). The salesperson can only receive a commission check from his broker so the salesperson should consult with the broker to see what can be done.D). A salesperson can never receive money after closing. - Correct Answer - C
The Seller Disclosure Act requires a seller give disclosure to a buyer in all the following
except:
A). If the buyer is a tenant of the seller.B). If the seller has not lived in the property the last year.C). If the seller was not assisted by a broker.D). If the property was commercial property. - Correct Answer - D
The broker, the seller and the buyer all agree that the broker does not need to hold escrow money for the buyer in his escrow account. The money instead is given to the seller who is supposed to credit the money to the buyer's account. All parties to the contract agree to this arrangement. When the transaction closes, the seller will not give credit to the buyer and the buyer files a complaint against the broker with the Commission. Why does the buyer think he can do this?
A). The buyer can claim that the broker did not handle the transaction carefully.B). The buyer can charge the seller based on the standard that no broker can relieve himself of escrow responsibility whether the buyer and seller sign or not.C). The seller is the one the buyer should be suing, not complaining about the broker.D). The buyer has no legal recourse since he was in agreement to waive the escrow requirement - Correct Answer - B 3 / 4
pg. 4 What does a salesperson do if she wishes to change employment brokers?A). The salesperson sends her license back and waits for the new license to be issued.B). She gives her license to the new broker and he sends it in for her with the fee.C). She notifies the Commission in writing no later than ten days after the intended date of change and returns her license.D). She does nothing- the new broker does it all. - Correct Answer - C
The agency relationship which calls for limited confidentiality is which type of relationship?A). A seller's agent B). A transaction licensee C). A buyer's agent D). A designated agent - Correct Answer - B
A broker wants to sell his own home. What must he do in order to go about this?
A). Put his license on inactive status until the property is sold.B). Appoint one of his salespersons to handle the sale.C). Sell the property through another brokerage to avoid a conflict of interest.D). Disclose he is a real estate license holder to potential buyers. - Correct Answer - D
Which of the following does not need to be disclosed to a prospective buyer at the initial interview?A). A statement of the type of relationships which the broker may engage with the consumer.B). A statement of the choices that the buyer has in agency relationships with the broker.C). A statement that the broker may assign one or more licensees to represent the separate interests of the parties.D). A statement of the flat fee that the broker charges for a commission. - Correct Answer - D
- / 4