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Colibri Real Estate Practice Final Exam Questions and Answers 100% Pass

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Colibri Real Estate Practice Final Exam Questions and Answers 100% Pass Why is the condition of bearing walls more important than non bearing walls? - Answer- Bearing walls support the ceiling and the roof. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has - Answer- transferred a portion of his bundle of rights What is a forecast of income and expenses that can be projected over five years? - Answer- Stabilized budget A buyer told broker L...

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Colibri Real Estate Final Exam Questions and Answers 100% Correct

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Colibri Real Estate Final Exam Questions and Answers 100% Correct land contract - Answer- buyer pays seller to occupy and use property net lease - Answer- buyer pays rent and other expenses gross lease - Answer- buyer pays only rent goes to heirs - Answer- Tenants in common, 2 of 3 people die. Who gets the property of those who died? Tenant owns it in severality - Answer- Joint Tenancy, 3 of 4 people die. Who gets property of those who died? Client - Answer- Another word for principal ...

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colibri real estate practice questions and answers 100% correct

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colibri real estate practice questions and answers 100% correct Which of the following would be an example of a licensee specializing in business type? - Answer- Jim specializes in clients who want to buy restaurants. Which of the following statements is not true? - Answer- A broker is not responsible for the acts of independent contractors. Which of these statements is true? - Answer- Salespersons must perform all of their activities on behalf of their employing broker. Which of the fol...

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Real Estate Colibri Practice Exam Questions and Answers 100% Correct

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Real Estate Colibri Practice Exam Questions and Answers 100% Correct Which item below can help protect against a home with a listed incorrect street address or legal description in public records? - Answer- Standard coverage title insurance policy and extended coverage title insurance policy Robert owns his property and enjoys the full bundle of rights. Can he use his property as collateral for debt? - Answer- Yes. Robert can encumber his property Which location is an industrial coal plan...

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Colibri Real Estate: Ch.2-7 Exam Questions and Answers 100% Pass

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Colibri Real Estate: Ch.2-7 Exam Questions and Answers 100% Pass *Ch. 2: Real Property Fundamentals (p. 17)* - Answer- what is land legally considered to include? what does an owner have rights to? - Answer- - *surface* of the earth, *subsurface* of the center of the earth, & *air* above the land (e.g. mineral rights, water, etc.) ^ owner has rights to all of that within property's boundaries real estate - Answer- actual *physical land* (aka unimproved land or raw land) and its *permane...

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colibri real estate law Exam Questions and Answers 100% Pass

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colibri real estate law Exam Questions and Answers 100% Pass 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. - 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 S...

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Colibri Real Estate Chapter 1 Questions and Answers 100% Pass

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Colibri Real Estate Chapter 1 Questions and Answers 100% Pass What five economic characteristics affect the value of land in the marketplace? (D.U.S.T.S) - Answer- 1. Demand; The more demand a property has, the higher the value 2. Utility (Or usefulness); More space/rooms etc.. the more useful .. 3 bed 4 bath > 1 bed 2 bath 3. Scarcity; A property will sell quickly if limited property's available 4. Transferability; Real estate is readily transferable from seller to buyer (loans ava...

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Colibri Real Estate Chapter 2 Quiz Questions with 100% Correct Answers

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Colibri Real Estate Chapter 2 Quiz Questions with 100% Correct Answers An agency relationship may be involuntarily terminated by which of the following? - Answer- By destruction of the property through fire, vandalism, or natural disaster When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes - Answer- A subagent An agency relationship may be involuntarily terminated by which of the following? - Answer- Co...

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final colibri real estate exam PT Questions and Answers 100% Pass

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final colibri real estate exam PT Questions and Answers 100% Pass Who can train office staff at a brokerage firm in weekly meetings? - Answer- All of the above Which step in the construction building process is likeliest to be first? - Answer- Grading Without legal capacity and mutual consent in place, courts may likely do what to the existing contracts or agency relationships? - Answer- All of the above The term "business ethics" applies to which of the following statements? - Answer- ...

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Final Exam-Colibri Real Estate Questions and Answers 100% Pass

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Final Exam-Colibri Real Estate Questions and Answers 100% Pass 1. All six members of the Georgia Real Estate Commission are appointed by - Answer- The Governor of Georgia How many commission members must be licensed - Answer- Five of the six members of the Georgia Real Estate can have licenses One must be an unlicensed member of the " general public 3. EARLNOTES What must happen with all funds in a sale - Answer- All money that belongs to clients or customers must be deposited in the br...

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