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Exam-State Portion- Colorado Real Estate Questions with Answers
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Exam-State Portion- Colorado Real Estate Questions with Answers
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Exam-State Portion- Colorado Real Estate Questionswith Answers
Who usually deposits the earnest money check into escrow after a contract has been
accepted? Correct Answer-Listing Broker
The licensee buy-out addendum must be used under all of the following conditions except:
Correct Answer-When a licensee is purchasing the property as a rental investment.
What is the purpose of the real estate commission in Colorado? Correct Answer-to protect
the public
As a buyer agent under an exclusive right to buy agreement, the broker has what agency
relationship to the purchaser? Correct Answer-Fiduciary
A high level of supervision by employing brokers: Correct Answer-Would include: review of
documents in preparation for a closing, assistance in preparing contracts, monitoring of
transactions from contracting to closing, attending closings, or making sure an experienced
licensee attends the closing, being reasonably available for consultation
, Exam-State Portion- Colorado Real Estate Questions
with Answers
According to the exclusive right to sell listing contract the listing broker must disclose to any
possible buyer Correct Answer-All material facts about the property the broker knows
When a licensee uses a licensee buyout addendum your are putting the seller on notice that
Correct Answer-The buyer is a licensee the buyer may make a profit and the seller may
incur a loss.
Checking the will owe box in the holdover clause in the exclusive right to sell listing contract
protects the listing brokers commission for disclosed buyers Correct Answer-For the period
of time specified in the contract even if the property is relisted by another broker
The Colorado approved Agreement to Amend/Extend form should be signed Correct
Answer-Before the sales contract has been fully executed
For a deed to be valid in Colorado, which of the following must be true concerning the
grantors signature Correct Answer-The grantors signature is required
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