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Exam- Colorado Real Estate Exam Prep 2 with Answers
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Exam- Colorado Real Estate Exam Prep 2 with Answers
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Exam- Colorado Real Estate Exam Prep 2 with AnswersA buyer creates liquidated damages in the sales contract by Correct Answer-Doing nothing,
the contract will default to liquidated damages
Colorado Common Interest Ownership Act requires: Correct Answer-real property to be
described in a declaration which obligates an individual unit owner to pay property tax, ins.
premiums, maintenance or improvement on some declared real property owned in common
When legal complications in a sales contract are beyond the expertise of the broker, the
broker should always seek assistance from: Correct Answer-an attorney
How many days prior to the foreclosure sale must a delinquent trustor give written notice of
his/her intent to cure? Correct Answer-15 days
You may refuse rental housing to Correct Answer-A person addicted to or using illegal
drugs
Select the party responsible for an accurate, complete and detailed closing statement.
Correct Answer-The individual license holder
, Exam- Colorado Real Estate Exam Prep 2 with Answers
Rule F allows for all of the following, EXCEPT: Correct Answer-An addendum to be included
within the body of a Commission-approved form
A broker who intends to mark-up or add fees for services performed on behalf of a client by
any third party or affiliated business entity is NOT required to: Correct Answer-Use the
appropriate form to notify the Real Estate Commission
A "Licensee Buy-Out Addendum" signed by the listing brokerage firm's supervising broker
Correct Answer-binds the firm and buyer broker to the buy-out addendum
Unlicensed personal assistant may do all of the following EXCEPT Correct Answer-Explain
the reasons behind the pricing of a property.
A broker is listing a property that has a well. What specific action does the seller have to take
to make sure that the well is transferred? Seller must provide the Source of Water Disclosure
form to the buyer Correct Answer-Seller must provide the Source of Water Disclosure form
to the buyer
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