Real Estate Colibri Practice Exam: Multiple Choice Questions and Answers, Exams of Real Estate Management

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Real Estate Colibri Practice Exam

Which item below can help protect against a home with a listed incorrect strect address or legal description in public records? -— ANS-WW Standard coverage litle 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? - ANS-WW/Yes, Robert can encumber his property Which location is an industrial coal plant least likely to be located? - ANS-Vv Adjacent ta an elementary school What is the least likely answer needed in a "legal consent" scenario? - ANS-V¥ Contract What is the name used to describe the fact that a client must have consent, free will, and act without duress when entering a contract or business relationship? - ANS-v ¥Logal Consent Mortgage lenders are required to disclose financing costs and annual pereentage rate to the borrower under which law or regulation? - ANS-WW Truth in Lending Earl orally agreed to an 18—-month lease with landlord Blake. Is this contract enfarceable? — ANS-WWNo, all leases for longer (han one year must be in wriling to be enforceable Jessica can only afford a 7% down payment on her new cottage. What will she be required to purchase at closing? — ANS-WwW Private Mortgage Insurance