{"id":118081,"date":"2023-09-02T08:30:11","date_gmt":"2023-09-02T08:30:11","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=118081"},"modified":"2023-09-02T08:30:13","modified_gmt":"2023-09-02T08:30:13","slug":"colibri-school-exam-nj-latest-2023-2024-actual-exam-100-questions-and-correct-detailed-answers-with-rationales-verified-answers-agrade","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/09\/02\/colibri-school-exam-nj-latest-2023-2024-actual-exam-100-questions-and-correct-detailed-answers-with-rationales-verified-answers-agrade\/","title":{"rendered":"COLIBRI SCHOOL EXAM NJ LATEST 2023-2024 ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |AGRADE"},"content":{"rendered":"\n<p>COLIBRI SCHOOL EXAM NJ LATEST 2023-2024<br>ACTUAL EXAM 100 QUESTIONS AND CORRECT<br>DETAILED ANSWERS WITH RATIONALES (VERIFIED<br>ANSWERS) |AGRADE<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>A woman purchased a home on a lake. A boat was included in the sale. What is<br>most likely required at settlement to transfer ownership of that boat to her?<br>A. bill of sale<br>B. deed<br>C. purchase agreement<br>D. sales contract<br>A.<\/li>\n\n\n\n<li>F signs an exclusive right to sell listing agreement with broker R. Before the<br>listing expires, F terminates the agreement for no reason. The following day, F<br>sells the property to a co-worker. Which statement is TRUE?<br>A. R can sue F to recover only the marketing expenses.<br>B. R can sue F for the full commission based on the list price.<br>C. R can sue F for the full commission based on the sales price.<br>D. R has no right to sue F, since a seller can terminate a listing at any time without<br>cause.<br>C.<\/li>\n\n\n\n<li>Which statement about lead paint is FALSE?<\/li>\n<\/ol>\n\n\n\n<p>A. Issues arise when lead-based paint begins to chip or flake.<br>B. Lead paint disclosure must be made when selling a house built prior to 1982.<br>C. Lead poisoning occurs via the nose and mouth; it must be breathed in or<br>ingested.<br>D. Lead present in water is colorless, odorless, and tasteless.<br>B.<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"4\">\n<li>A developer purchases a foreclosed property for $96,000, intending to rehab it.<br>Instead, he lets it deteriorate and finally sells it a few years later for $84,000.<br>Calculate his loss.<br>A. 8.75%<br>B. 11.4%<br>C. 12.5%<br>D. 14.2%<br>C.<\/li>\n\n\n\n<li>A homeowner lists her property at $155,000. Her broker receives an offer from<br>A for $135,000 cash and a closing in 30 days; another offer from B for $145,000,<br>subject to the owner taking back a purchase money mortgage; and an offer from C<br>at $150,000, subject to the buyer obtaining a mortgage. What should the listing<br>broker do?<br>A. Present all of the offers to the seller, even if the seller accepts the first offer.<br>B. Present none of the offers, as they are all below the seller&#8217;s asking price.<br>C. Present only the first offer until the seller makes a decision; then present the<br>next offer.<\/li>\n<\/ol>\n\n\n\n<p>D. Present whichever offer is the highest and has the most favorable terms for the<br>seller.<br>A.<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"6\">\n<li>K is a transfer student from Korea looking for a one-bedroom apartment. She<br>asks for something near the university. Her rental agent L shows her apartments<br>only in an area known as Chinatown, telling her she&#8217;d feel more at home there. L<br>could be guilty of<br>A. blockbusting.<br>B. panic peddling.<br>C. redlining.<br>D. steering.<br>D.<\/li>\n\n\n\n<li>A lender must provide the Closing Disclosure to a borrower at least<br><strong><em><strong>_<\/strong><\/em><\/strong> prior to settlement.<br>A. 1 business day<br>B. 3 business days<br>C. 3 calendar days<br>D. 5 business days<br>B.<\/li>\n\n\n\n<li>An investor is evaluating the performance of his duplex. If he subtracts debt<br>service from the net operating income, what does he find?<\/li>\n<\/ol>\n\n\n\n<p>A. cash flow before taxes<br>B. cash-on-cash return<br>C. effective gross income<br>D. reserves for replacement<br>A.<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"9\">\n<li>Market value can be defined as the<br>A. amount a buyer paid to purchase a property.<br>B. cost in materials and labor necessary to construct property.<br>C. most probable selling price in a typical transaction.<br>D. what a property actually sold for. 511 Practice Exam<br>C.<\/li>\n\n\n\n<li>A real estate licensee has actual knowledge of structural damage to the floor<br>boards of a home he has listed due to termite infestation. He informs the buyer&#8217;s<br>agent that there are no termites or termite damage in the home. The buyer signs a<br>contract to purchase the property. Is the listing agent susceptible to claims of<br>fraud?<br>A. No, because the buyer should have discovered the termite damage.<br>B. No, because the buyer&#8217;s agent should have been looking out for the buyer. C.<br>Not as long as there is an as-is clause in the purchase agreement.<br>D. Yes, because he intentionally withheld a material defect.<br>D.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>COLIBRI SCHOOL EXAM NJ LATEST 2023-2024ACTUAL EXAM 100 QUESTIONS AND CORRECTDETAILED ANSWERS WITH RATIONALES (VERIFIEDANSWERS) |AGRADE A. Issues arise when lead-based paint begins to chip or flake.B. Lead paint disclosure must be made when selling a house built prior to 1982.C. Lead poisoning occurs via the nose and mouth; it must be breathed in oringested.D. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-118081","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/118081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=118081"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/118081\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=118081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=118081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=118081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}