Colorado Real Estate Exam Prep Correct Questions & Answers(RATED A)EXAM BUNDLE

Who of the following is exempt from real estate license law? - ANSWER Investors who own 12 investment properties and sell one to an owner-occupant The purpose of the CRE Commission is to... - ANSWER Protect the public of the state of CO in real estate matters

Duties of the Colorado Real Estate Commission include all of the following EXCEPT A) Investigation of verified written complaints. B) Approving errors and omissions carriers. C) Creating the Annual Commission Update course each year. D) Hearing disputes between brokers. - ANSWER D) Hearing dispu...

Who usually deposits the earnest money check into escrow after a contract has been accepted? - ANSWER Listing Broker The licensee buy-out addendum must be used under all of the following conditions except: - ANSWER When a licensee is purchasing the property as a rental investment. What is the ...

The Amend/Extend Contract With Broker is used to change : - ANSWER Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - ANSWER non-applicable financing conditions In prepar...

The Amend/Extend Contract With Broker is used to change : - ANSWER Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - ANSWER non-applicable financing conditions In prepar...

An out-of-state investor sells a property in Colorado. The closing entity must uphold up to 2 percent of the - ANSWER selling price as a possible income tax liability The Closing Instruction form - ANSWER engages a closing service on behalf of the buyer and seller According to statue, "good f...

Purpose of the Law - ANSWER To protect the public of the state of CO in real estate matters Conway-Bogue Decision - ANSWER Landmark decision confirming a licensee's right to a limited practice of law Under Conway-Bogue, licensees - ANSWER A. Must be connected to the transaction, B. Must use s...

Which of the following requires the use of the Licensee Buyout Addendum to the Contract to Buy and Sell? - ANSWER An associate is offering a guarantee buyout arrangement as an inducement to list with his or her company. All of the following must be in compliance with a broker's escrow or trust a...

which of these is a correct formula for calculations related to income-producing property? - ANSWER rate of return x value = net operating income an optioner and optionee entered into an option contract for an industrial building. the optionee decided not to purchase the property. the optioner su...

An out-of -state investor sells a property in Colorado. The closing entity must withhold up to 2 percent of the - ANSWER selling price as possible income tax liability The Closing Instructions form - ANSWER must be part of every contract According to statue, "good funds," include a - ANSWER ...

Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by - ANSWER the doctrine of prior appropriation The right to control one's property includes all of the following EXCEPT - AN...

What is the purpose of Colorado real estate License Law - ANSWER Protect the public of the State of Colorado The purpose of the Colorado Real Estate Commission is to: - ANSWER Protect the public of the state of Colorado in real estate matters Acting as a real estate broker without a license or...