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Exam- Colorado Real Estate Exam Prep Questions and Answers
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Exam- Colorado Real Estate Exam Prep Questions and Answers
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Exam- Colorado Real Estate Exam Prep Questions andAnswers
If a Seller carries back $12,000 at 10 percent interest and closes on July 9 with the first loan
payment due September 1, the interest on the new loan on the settlement worksheet will be:
Correct Answer-$75.62 Debit Buyer & Credit Seller
At a minimum an independent broker's written office policy must identify and describe:
Correct Answer-The relationships offered to the public by such broker
Unless modified, the powers granted in a Colorado statutory power of attorney for property
are Correct Answer-General in scope
Under which of the following circumstances would a broker license NOT be placed on inactive
status? Correct Answer-failing to meet your continuing education requirements
The commission will, when becoming aware that a licensee has failed to maintain possession
of transaction records for a period of four years, Correct Answer-Impose an administrative
fine not to exceed two thousand five hundred dollars for each separate offense
, Exam- Colorado Real Estate Exam Prep Questions and
Answers
If the commission finds that a licensee fails to maintain possession any documents or records
regarding a transaction for a period of 4 years it may do all of the following except Correct
Answer-impose an administrative fine of five thousand dollars for each separate offense
A counter offer is used by the seller for all of the following except Correct Answer-To
extend the listing agreement with the listing broker
The initial license issued to a new broker will expire: Correct Answer-December 31 of the
year of issuance
The "Common Interest Community Governing Documents" subsection of the residential sales
contract requires the "Governing" and "Financial" documents be delivered to buyer on or
before the title Deadline by the: Correct Answer-Seller
Whenever money belonging to others has been received or banking activity has occurred in a
trust account, the account must be reconciled to corresponding brokerage liabilities on a(n):
Correct Answer-Monthly basis
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