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Colorado Real Estate Exam Prep #3
Questions and Correct Answers the Latest
Update and Recommended Version
If neither the management agreement with the owner nor the tenant's lease addresses who
will hold the security deposits, they must be deposited in:
✓ Account(s) separate from other money belonging to the broker
Colorado Use Tax, a form of sales tax, is payable on the transfer of furniture, equipment, etc.
Statute places the obligation to pay this tax by the:
✓ Buyer
Select the correct statement about a lease in Colorado:
✓ All residential leases have an implied warrant of habitability
When a designated broker serves as a single agent for a seller or buyer, imputed knowledge
extends to
✓ Only other brokers designated to work with the same buyer or seller.
A designated broker may share confidential information about a seller with:
✓ a supervising broker with the informed consent of the seller
A buyer signs the lead-based paint disclosure form
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