Exam (elaborations)
COLORADO REAL ESTATE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
- Course
- Institution
COLORADO REAL ESTATE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
[Show more]
Content preview
COLORADO REAL ESTATE EXAM 2024/2025WITH 100% ACCURATE SOLUTIONS
Duties of the Colorado Real Estate Commission include all of the following EXCEPT
A) Investigation of verified written complaints.
B) Approving errors and omissions carriers.
C) Creating the Annual Commission Update course each year.
D) Hearing disputes between brokers. - Precise Answer ✔✔D) Hearing disputed between brokers.
A buyer in a closed transaction has filed a complaint with the Colorado Real Estate Commission, claiming
the buyer's agent misrepresented the property. The Commission, in responding to a complaint, would
A) Use its subpoena power to request records from the agent/broker's brokerage firm.
B) Start a lawsuit on behalf of the buyer.
C) Seize all the brokerage firm's records.
D) Request the agent/broker supply a response in writing. - Precise Answer ✔✔D) Request the
agent/broker supply a response in writing.
Which of the following could a Colorado real estate broker use toward meeting the 12 hours of required
elective continuing education credits?
A) An exam prep class taken to prepare for the state portion of the licensing exam
B) A brokerage firm's orientation and personal marketing course
C) Passing the national portion of the broker licensing exam
D) The National Association of REALTORS® ethics course - Precise Answer ✔✔D) The National
Association of REALTORS® ethics course
Errors and omissions professional liability insurance is required for all of the following EXCEPT
A) Inactive licensees.
B) Active licensees.
C) All license applicants.
,D) Employing brokers. - Precise Answer ✔✔A) Inactive licensees.
A broker completed all of her required continuing education, but 15 days after her anniversary date, she
still has not paid renewal fees for her license. What is the current status of her license?
A) Inactive and may not sell real estate
B) Active but may not sell real estate
C) Expired
D) Active and may sell real estate if she pays within 30 days - Precise Answer ✔✔B) Active but may not
sell real estate
All of the following are required to have an active Colorado real estate license EXCEPT
A) An attorney who lists and sells property in addition to practicing law.
B) A mortgage broker who helps buyers find and buy homes.
C) A business opportunity salesperson selling a franchise with a leasehold estate.
D) An attorney selling property as part of an estate. - Precise Answer ✔✔D) An attorney selling property
as part of an estate.
Brokers selling real estate must renew their license and errors and omission insurance every
A) Three years for the license and every two years for the errors and omissions insurance.
B) Year for the license and every three years for the errors and omissions insurance.
C) Three years for the license and every year for the errors and omissions insurance.
D) Three years for the license and every three years for the errors and omissions insurance. - Precise
Answer ✔✔C) Three years for the license and every year for the errors and omissions insurance.
A broker associate works for All Star Realty™. The broker must ensure all advertising, including social
media, has the
A) Firm's trade name at least two times larger than the brokerage's name.
B) Firm's trade name as registered with the Department of Revenue.
C) Broker's name and firm's trade name the same size.
D) Brokerage's name as registered with the Colorado Real Estate Commission. - Precise Answer ✔✔D)
Brokerage's name as registered with the Colorado Real Estate Commission.
, A Colorado broker associate referred her client to a broker in Florida. The Florida broker called to tell
her that the buyer's property in Florida will close soon and she wants to know where to send the referral
fee. Which of the following is TRUE about this referral fee?
A) The broker associate must deposit the fee into a trust account for holding until after closing.
B) The fee must be made payable to the brokerage firm.
C) The broker associate does not need to inform anyone of the fee and can deposit it into her personal
account.
D) The broker associate needs to split the fee 50/50 with the brokerage. - Precise Answer ✔✔B) The fee
must be made payable to the brokerage firm.
A broker developed a website to advertise the broker's office with the brokerage's name, location, and
phone number. What additional information does the broker need to include?
A)Name and address of the home office and the states in which the brokerage holds licenses
B) License number of the brokerage and list of current active licensees
C) Names of active licensees, addresses, and phone numbers
D) No need for any additional disclosures - Precise Answer ✔✔D) No need for any additional disclosures
As part of the requirement to supervise all associate brokers in the firm, the employing broker would be
required to do all of the following EXCEPT
A) Review all real estate contracts brought to the firm by all associate brokers.
B) Attend, or have a qualified broker attend, all listing appointments, showings, and closings of any
newly licensed broker associate for the first month of licensure.
C) Have a written office policy that all broker associates must sign stating they have read it and agree to
follow it.
D) Give newly licensed broker associates a higher level of supervision, including being available or having
a qualified broker available to answer questions. - Precise Answer ✔✔B) Attend, or have a qualified
broker attend, all listing appointments, showings, and closings of any newly licensed broker associate for
the first month of licensure.
In Colorado, real estate commissions are negotiated
A) And set first by the Commission and then between the parties.
B) Between employing brokers.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75057 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now