Colorado Real Estate Practice Exam

The standard length of a Colorado listing is

In order for a broker to be a single agent in Colorado there must be

Water rights in Colorado

Under current federal and Colorado law which of the following is TRUE about seller financing?

On Friday, a broker receives an earnest money check with an offer on his listing. The seller cannot be reached until Monday. The broker should

In Colorado, someone must have a real estate license to:

A team of agents, representing a seller as an agent, have also found a buyer who wants their representation in purchasing this property. The team of agents

Who has the responsibility for presenting an earnest money promissory note to be collected?

The buyer’s broker has completed the offer for her first time buyers and printed it. The broker hands the offer to the buyers and tells them to read and review the document and let the broker know if they have any questions. In this case, the broker’s actions are considered to be

In Colorado, the right of use to water are regulated and permitted by the

A Colorado real estate broker is

A non-resident Colorado broker who lives in Wyoming must

Under Colorado law which of the following is TRUE?

In addition to the protected classes of Federal Fair Housing, the Colorado Fair Housing Act adds

Colorado brokers are obligated to obey all Commission rules and regulations. The Commission rule that governs contracts is

Water rights in Colorado

Constructive eviction would include all of the following except:

The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker:

If a broker wishes to be the only broker involved in a transaction, thereby “double ending” this sale, she may

Which of the following is TRUE regarding specific performance in the Colorado approved Contract to Buy and Sell?

An inactive broker has been asked by a friend to list her house in six months. In this case, the broker

A buyer is assuming a loan at a closing on October 25. The loan balance after the October 1 payment is $125,000 and the interest rate is 10%. How will the interest proration appear on the buyer’s closing statement?

All of the following are true of the six-column worksheet EXCEPT

All of the following are true of the brokerage firm’s office policy requirements EXCEPT

A transaction broker is most likely a(n)

A property is being listed by a broker associate, the employing broker requires that all listings use an approved listing contract form which will give the brokerage firm maximum protection. The broker associate should use which form?

A broker who has become a transaction broker to double end the sale of her listing

A seller wants to accept the buyer’s offer and agrees to all dates, deadlines, and prices but needs to modify the names of the owner since his wife was not on the offer but is on title to the property. The listing broker prepares a counter for the seller to sign, in this case the listing broker

A general agent acting for a principal

A broker sold her home 10 years ago with seller carry financing, the buyer she sold it to has asked her to list and sell the property as an agent. This means upon sale, the broker will get a large payoff. In this case the broker

Fair Housing complaints in Colorado are handled by the

The brokerage relationship between a seller and listing broker is created by the

A broker who is exercising loyalty and obedience on behalf of representing their buyer or seller, means the buyer or seller are considered to be a

The purpose of Rule 6.15 regarding sign crossing is to protect whom?

The employing broker who has a number of independently contracted broker associates is responsible for

If an employing broker of a brokerage firm fails to renew her license

The closing company’s job is to

When a listing broker receives an offer with an earnest money check, she should

A new broker attending her first closing found an error in the amount her buyer was owed. The broker should

A brokerage firm is primarily involved in listings and sales, but does manage 15 rentals. How many trust accounts must the brokerage maintain?

Which of the following is TRUE about the rules for a broker’s referral fees to non-licensed individuals?

A broker using an exclusive Right to Sell or Buy contract in Colorado must have

Brokerage firms, when paying commissions to broker associates,

Good funds would include all the following EXCEPT

Bills of sale convey title to

A broker who fails to return a tenant’s damage deposit could be liable for

Per the Contract to Buy and Sell, the cost of title insurance is paid for by the

In addition to the transaction files, the employing broker or independent broker must have records in their trust accounts that include all of the following EXCEPT:

If there is a dispute on which fair housing act might apply at a state, federal, or local level the