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Exam- Colorado Real Estate Test Questions and Answers
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Exam- Colorado Real Estate Test Questions and Answers
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Exam- Colorado Real Estate Test Questions and AnswersWhen must earnest money be deposited? Correct Answer-3 business days AFTER
-Notice of Acceptance-
Property Managers must deposit advance rents and security deposits within how many
business days after receipt? Correct Answer-5
How long must a temporary broker have had a license for?
and whom does this NOT apply for? Correct Answer-2 years
Independent Brokers
A broker paid their renewal fee 1 month after expiration What is the status during that
month? Correct Answer-expired
How many units can you manage without having to have separate banking accounts?
Correct Answer-6 or less
How many years must an employing broker keep records? Correct Answer-4
, Exam- Colorado Real Estate Test Questions and Answers
What are the exceptions of records that must be kept on file by the brokerage firm?
Correct Answer-Promissory notes and recorded documents such as deeds of trust that are
prepared by or for 3rd parties
If you can not make it to your closing, and the employing broker asks another associate to
attend for you. Who is responsible for the proper closing? Correct Answer-You are!
May a licensee take compensation from a lender? Correct Answer-Only if there is written
consent from buyer and seller and RESPA is NOT involved
If a complaint or audit is received from a the Real Estate Commission, how many days does
the licensee have to respond? Correct Answer-14 and must be in writing
Settlement Service Provider Correct Answer-An individual or firm that handles the
facilitation of closings.
Supervision by an employing broker of a licensee that has over 2 years of experience/
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