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Exam- Colorado Real Estate Exam Prep Questions & Answers
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Exam- Colorado Real Estate Exam Prep Questions &Answers
A dishwasher in a property under contract is listed affirmatively "In Working Condition" on
the Seller's Property Disclosure. What must the seller do if the dishwasher fails before
closing? Correct Answer-A. The seller is not responsible since he or she could not have
known it would fail.
B. The seller must offer the buyer a credit at closing for the price of a new dishwasher.
C. The seller must replace the dishwasher with a used appliance of similar age, size, and
condition.
D. The seller must replace the dishwasher with a new one.
C
Andrew is selling his property and has no knowledge of any plumbing system problems. In
fact the pipes are corroded and will require replacement very soon. How should Andrew
respond in the seller's property disclosure when asked if the seller has any knowledge of
plumbing system problems? Correct Answer-A. Yes
B. No
C. I don't know
D. The seller would not be the one required to respond to this question.
, Exam- Colorado Real Estate Exam Prep Questions &
Answers
B
How may 2 or more owners of a single property in Colorado hold title? Correct Answer-A.
Joint tenancy with right of survivorship
B. Tenancy by the entirety
C. Tenancy in severalty
D. Community property
A
In the Contract to Buy and Sell, what does the statement, "time is of the essence hereof"
mean? Correct Answer-A. All dates and deadlines will be strictly interpreted.
B. All dates and deadlines must be performed within a reasonable margin of the stated time
or date.
C. Everything in the contract must be complete within 1 year or it will be void.
D. Everything not done by closing will be waived.
, Exam- Colorado Real Estate Exam Prep Questions &
Answers
A
An associate broker has developed a website. What must she include on the site? Correct
Answer-A. Name of the home office of the company that holds the associate's license and a
list of states in which company is licensed.
B. Name and location of the brokerage company that holds the associate's license.
C. Names of all licensees in the broker's office and the states in which they are licensed.
D. License number of the brokerage and a list of current active licensees.
B
An associate broker received a thank you letter and bonus check from the seller several weeks
after the closing. The associate broker cashed the check because she felt she earned it. Which
of the following is TRUE? Correct Answer-A. The associate broker may accept the bonus
check because she is fully licensed.
B. The associate broker is allowed to accept the money if 30 days have elapsed since the
closing.
C. It is a violation of commission regulations to accept the money.
, Exam- Colorado Real Estate Exam Prep Questions &
Answers
D. The associate broker may accept the money if her broker permits her to do so.
C
How many hours of continuing education must licensees complete in order to retain their
licenses? Correct Answer-A. 12 hours of continuing education during each 3 year license
cycle.
B. 6 hours of continuing education during each 3 year license cycle.
C. 48 hours of continuing education during each 3 year license cycle.
D. 24 hours of continuing education during each 3 year license cycle.
D
Regulation under state or federal securities laws may apply to which of the following?
Correct Answer-A. Speculative purchase of raw land by a doctor as part of a retirement
plan.
B. Condominium project that includes both residential and retail uses within one structure.
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