Exam (elaborations)
COLORADO BROKER POST-TEST
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COLORADO BROKER POST-TEST
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COLORADO BROKER POST-TESTAfter closing, a buyer discovered that a suicide had recently occurred on the property.
The buyer submitted a complaint to the Colorado Real Estate Commission against the
listing broker for failing to disclose this fact. The Commission will
A)
investigate the complaint, submit it to a hearing, and may revoke the license of the
listing broker.
B)
immediately suspend the license of the broker while awaiting a hearing.
C)
void the sale and award the buyer money from the Recovery Fund.
D)
dismiss the complaint because stigmatization of property is not considered a material
fact. - Answers -d
The Colorado Real Estate Commission would investigate a complaint
A)
by the public involving a broker's ethics.
B)
from a buyer regarding a broker not disclosing that someone was murdered on the
property.
C)
about a broker not supplying closing statements at closing.
D)
from an associate broker over a dispute regarding commissions with the employing
broker. - Answers -c
A broker renewing a Colorado license is required to have how many hours of continuing
education over what period of time?
A)
8 hours over 2 years
B)
24 hours over 4 years
C)
36 hours over 4 years
D)
24 hours over 3 years - Answers -d
An active broker may fulfill the continuing education requirement for a three-year
renewal cycle by any of the following EXCEPT
A)
,taking the national section of the broker licensing exam.
B)
taking and passing the state section of the broker licensing exam.
C)
taking 24 hours of approved continuing education courses.
D)
completing 12 hours of commission updates and 12 elective hours of approved
continuing education. - Answers -a
An inactive broker may do all of the following EXCEPT
A)
manage property as an employee of the landlord.
B)
complete a contract form once the broker has given pricing information.
C)
prepare a CMA for a licensed broker who will then present it to the buyer.
D)
sign checks from a brokerage firm's trust account. - Answers -b
An unlicensed personal assistant may NOT
A)
write checks on a trust account.
B)
prepare a comparative market analysis for a buyer.
C)
hold an open house and hand out preprinted information.
D)
negotiate a minor contract change when the broker is unavailable. - Answers -d
A broker has been managing an owners association. At the end of the term of
management, the broker must
A)
turn over all original management records and supporting documentation to the
association.
B)
maintain all pertinent records in the broker's files for at least six years.
C)
provide copies of all association management records to the association subject to a
reasonable copy fee.
D)
charge a fee to make full copies of all records for the broker's files. - Answers -a
A nonresident Colorado broker must do all of the following EXCEPT
, A)
have an office in the home state.
B)
have a Colorado bank account.
C)
keep trust funds in a Colorado depository.
D)
cooperate with any legal action in Colorado. - Answers -b
Once the closing is over, the MOST important step the broker associate should do next
is
A)
make sure that all contract contingencies are met.
B)
change the listing status to "under contract" in the MLS.
C)
deliver the title policy.
D)
immediately deliver the closing file to the employing broker. - Answers -d
All of the following would be considered an illegal practice of law by a licensed real
estate broker EXCEPT
A)
recommending that a married couple take title as joint tenants.
B)
drafting a non-negotiated addendum to be attached to the Contract to Buy and Sell.
C)
explaining the difference between tenants in common and joint tenancy.
D)
helping a seller determine what the terms and rate of a seller-carry loan should be. -
Answers -c
An employing broker hires a broker associate who has just received his license. The
employing broker is required to
A)
make sure the new broker associate attends postlicensing classes.
B)
provide a reasonable level of supervision, such as holding monthly sales meetings.
C)
provide a high level of supervision, such as attending the agent's closings.
D)
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