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Exam- Colorado Real Estate Exam Prep|549 Questions with Complete Solutions 100% Pass
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Exam- Colorado Real Estate Exam Prep|549 Questions with Complete Solutions 100% Pass
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Exam- Colorado Real Estate Exam Prep|549 Questionswith Complete Solutions 100% Pass
An out-of -state investor sells a property in Colorado. The closing entity must withhold up to 2
percent of the Correct Answer-selling price as possible income tax liability
The Closing Instructions form Correct Answer-must be part of every contract
According to statue, "good funds," include a Correct Answer-tellers check from savings and
loan
All of the following must be disclosed to a tenant by a property manager EXCEPT: Correct
Answer-Disclose the name and address of the landlord
According to the Contract to Buy and Sell Real Estate - all prorations are: Correct Answer-
final as of the closing date
Which of these acts could result in license suspension or revocation? Correct Answer-
Conviction of a forgery crime, Accepting compensation from more than one party in a
transaction without full disclosure, Advertising in the name of another broker
, Exam- Colorado Real Estate Exam Prep|549 Questions
with Complete Solutions 100% Pass
As per the Contract to Buy/Sell Real Estate Mediation shall terminate in the event the entire
dispute is not resolved within how many days of written notice requesting mediation
delivered by one party to the other at the party's last known address? Correct Answer-30
days
One of the requirements of a valid deed is that the deed be: Correct Answer-signed by the
grantor
The Colorado Real Estate Commission was formed to: Correct Answer-protect the public
A loan origination fee appears on a settlement statement as a: Correct Answer-Debit to
the buyer
It is illegal for a broker to work with both seller and buyer when: Correct Answer-the seller
is not aware of such action, all parties to the transaction are not aware of such action, the
agent collects a commission from both buyer and seller without the knowledge and consent
of both
, Exam- Colorado Real Estate Exam Prep|549 Questions
with Complete Solutions 100% Pass
Commissions earned by a broker in a real estate sales transaction Correct Answer-are
determined by agreement of the broker and his or her principal.
When a seller decides to counter an offer presented to him, which is true? Correct Answer-
Seller should sign only the counter offer
A broker has an Exclusive Right-to-Buy contract with a principal. Who is to be their customer?
Correct Answer-Seller
What if anything is required by the broker to be included on his/her Web site. Correct
Answer-Name of licensee's brokerage firm
Regarding delivery of Earnest Money: Correct Answer-If other than at the time of tender of
this contract it must be delivered no later than the Alternative Earnest Money Deadline
In the section on Purchase Price and Terms in a Residential Contract to Buy and Sell, which of
the following is true concerning the entry for cash at closing? Correct Answer-It does not
include the buyer's closing costs, such as loan fees.
, Exam- Colorado Real Estate Exam Prep|549 Questions
with Complete Solutions 100% Pass
Which of the following statements is true concerning agency? Correct Answer-Written
agreement establishes agency
The Colorado Contract to Buy & Sell states that "time is of essence hereof". This statement
means that: Correct Answer-Dates and deadlines will be strictly interpreted
When making a counter offer by using the approved Counterproposal form - how do you
change dates? Correct Answer-Change only the dates that needed to be changed
The Colorado Statute of Frauds mandates that Correct Answer-Contracts for the sale of
real estate must be in writing
A real estate license, or license for a broker who is working for another broker, may be issued:
Correct Answer-To a woman using her birth name
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