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Exam- Colorado Real Estate Exam Prep 3 with Solutions
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Exam- Colorado Real Estate Exam Prep 3 with Solutions
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Exam- Colorado Real Estate Exam Prep 3 with SolutionsIf neither the management agreement with the owner nor the tenant's lease addresses who
will hold the security deposits, they must be deposited in: Correct Answer-Account(s)
separate from other money belonging to the broker
Colorado Use Tax, a form of sales tax, is payable on the transfer of furniture, equipment, etc.
Statute places the obligation to pay this tax by the: Correct Answer-Buyer
Select the correct statement about a lease in Colorado: Correct Answer-All residential
leases have an implied warrant of habitability
When a designated broker serves as a single agent for a seller or buyer, imputed knowledge
extends to Correct Answer-Only other brokers designated to work with the same buyer or
seller.
A designated broker may share confidential information about a seller with: Correct
Answer-a supervising broker with the informed consent of the seller
, Exam- Colorado Real Estate Exam Prep 3 with Solutions
A buyer signs the lead-based paint disclosure form Correct Answer-prior to an offer
becoming a contract
When using an Exclusive Right to Sell Listing contract Correct Answer-The designated
broker is given permission to disclose confidential information of seller to the supervising
broker.
Broker Bill is selling his own home. He Correct Answer-Must disclose that he owns the
home
Regarding real estate forms, real estate brokers Correct Answer-1. are required to use
Commission-approved forms
2. may use any form
3. may use other forms but they shall not be prepared by a broker
4. Both 1 and 3 are correct***
The Post-Closing Occupancy Agreement is Correct Answer-Used when a residential
transaction calls for a Seller to rent-back after closing, up to 30 days
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