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State of Colorado Sales License Exam Bundle Questions With Answers Verified By Experts
State of Colorado Sales License Exam Bundle Questions With Answers Verified By Experts
[Meer zien]State of Colorado Sales License Exam Bundle Questions With Answers Verified By Experts
[Meer zien]Three of the following types of motor vehicles are exempt from the truth in mileage act. - ANSWER-~Vehicles 10 years old or older~Vehicles having a gross empty weight more than 10,000 lbs~Vehicles not self propelled (Trailers) 
 
The definition of a used motor vehicle dealer or used dealer includes ...
Voorbeeld 2 van de 11 pagina's
In winkelwagenThree of the following types of motor vehicles are exempt from the truth in mileage act. - ANSWER-~Vehicles 10 years old or older~Vehicles having a gross empty weight more than 10,000 lbs~Vehicles not self propelled (Trailers) 
 
The definition of a used motor vehicle dealer or used dealer includes ...
The licenses of a new or used dealer, wholesale auction dealer, or whole sales may be denied, suspended, revoked or fined for the following: - ANSWER-(D) All of the above 
 
Colorado's Lemon Law covers: - ANSWER-(C) defects that substantially impair market vale of a vehicle 
 
Local law enforcement...
Voorbeeld 2 van de 5 pagina's
In winkelwagenThe licenses of a new or used dealer, wholesale auction dealer, or whole sales may be denied, suspended, revoked or fined for the following: - ANSWER-(D) All of the above 
 
Colorado's Lemon Law covers: - ANSWER-(C) defects that substantially impair market vale of a vehicle 
 
Local law enforcement...

 
The Motor Vehicle Dealer Board is authorized and empowered to 
 
a. issue or deny buyer agent licenses 
b. issue or deny manufacturer representative licenses 
c. issue or deny motor vehicle dealer and salesperson licenses 
d. all of the above - ANSWER-C. the administration, enforcement, issuance...
Voorbeeld 3 van de 26 pagina's
In winkelwagen
 
The Motor Vehicle Dealer Board is authorized and empowered to 
 
a. issue or deny buyer agent licenses 
b. issue or deny manufacturer representative licenses 
c. issue or deny motor vehicle dealer and salesperson licenses 
d. all of the above - ANSWER-C. the administration, enforcement, issuance...
The License of a motor vehicle salesperson or a power sports salesperson may be denied revoked, or suspended on any of the following grounds except: - ANSWER-Advertising a salvage vehicle while identifying the vehicle as a salvage vehicle 
 
The advertise price of a motor vehicle must include: - ANS...
Voorbeeld 4 van de 36 pagina's
In winkelwagenThe License of a motor vehicle salesperson or a power sports salesperson may be denied revoked, or suspended on any of the following grounds except: - ANSWER-Advertising a salvage vehicle while identifying the vehicle as a salvage vehicle 
 
The advertise price of a motor vehicle must include: - ANS...
The purpose of the CRE Commission is to... - ANSWER-Protect the public of the state of CO in real estate matters 
 
If a broker is accused of a violation of license law in a complaint to the commission investigative staff and its determined that the violation probably happened, the commission... - A...
Voorbeeld 2 van de 5 pagina's
In winkelwagenThe purpose of the CRE Commission is to... - ANSWER-Protect the public of the state of CO in real estate matters 
 
If a broker is accused of a violation of license law in a complaint to the commission investigative staff and its determined that the violation probably happened, the commission... - A...
If payment is made from the recovery fund for a judgment against a licensee, - ANSWER-The licensee automatically loses his or her license 
 
In order to get a real estate license, you must do all of the following EXCEPT - ANSWER-Take a total of 160 hours of study from a qualified school 
 
If a brok...
Voorbeeld 2 van de 8 pagina's
In winkelwagenIf payment is made from the recovery fund for a judgment against a licensee, - ANSWER-The licensee automatically loses his or her license 
 
In order to get a real estate license, you must do all of the following EXCEPT - ANSWER-Take a total of 160 hours of study from a qualified school 
 
If a brok...
After closing, a buyer discovered that a suicide had recently occurred on the property. The buyer submitted a complaint to the Colorado Real Estate Commission against the listing broker for failing to disclose this fact. The Commission will 
A) 
dismiss the complaint because stigmatization of proper...
Voorbeeld 4 van de 33 pagina's
In winkelwagenAfter closing, a buyer discovered that a suicide had recently occurred on the property. The buyer submitted a complaint to the Colorado Real Estate Commission against the listing broker for failing to disclose this fact. The Commission will 
A) 
dismiss the complaint because stigmatization of proper...
An applicant for a Colorado real estate license who has been licensed in any other state must file which of the following proofs of that licensure? 
 
1. Photocopy of her license from that state 
2. Letter from the last employing broker 
3. A certificate of licensing history from the other state's...
Voorbeeld 4 van de 33 pagina's
In winkelwagenAn applicant for a Colorado real estate license who has been licensed in any other state must file which of the following proofs of that licensure? 
 
1. Photocopy of her license from that state 
2. Letter from the last employing broker 
3. A certificate of licensing history from the other state's...
Real property can be converted to personal property by - ANSWER-severance 
 
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to make the permission permanent in case he dislikes others who might move next door in the future. What should he give his neighbor? -...
Voorbeeld 4 van de 33 pagina's
In winkelwagenReal property can be converted to personal property by - ANSWER-severance 
 
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to make the permission permanent in case he dislikes others who might move next door in the future. What should he give his neighbor? -...
Under landmark Colorado case law, title companies in Colorado are permitted to offer closing services including preparation of legal documents.. - ANSWER-scrivener of the listing broker 
 
Which of the following transfer of property provisions is NOT found in a Colorado real estate commission approv...
Voorbeeld 2 van de 6 pagina's
In winkelwagenUnder landmark Colorado case law, title companies in Colorado are permitted to offer closing services including preparation of legal documents.. - ANSWER-scrivener of the listing broker 
 
Which of the following transfer of property provisions is NOT found in a Colorado real estate commission approv...
The designated responsible party must maintain copies of all advertisements for: - ANSWER-Four years 
 
The Colorado loan modification services contract must be completed: - ANSWER-At the time of application 
 
Which of the following is a true stamens regarding recordkeeping requirements? - ANSWER-R...
Voorbeeld 2 van de 15 pagina's
In winkelwagenThe designated responsible party must maintain copies of all advertisements for: - ANSWER-Four years 
 
The Colorado loan modification services contract must be completed: - ANSWER-At the time of application 
 
Which of the following is a true stamens regarding recordkeeping requirements? - ANSWER-R...
Foreign or alien - ANSWER-What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? 
 
Yes, the interest can be paid annually, or added to the loan. - ANSWER-Does a loan on the cash value of a life insurance...
Voorbeeld 2 van de 10 pagina's
In winkelwagenForeign or alien - ANSWER-What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? 
 
Yes, the interest can be paid annually, or added to the loan. - ANSWER-Does a loan on the cash value of a life insurance...
Virginia law allows dealers to sell vehicles "As Is" if the following 3 items are in place: - ANSWER-(A) A Buyers Guide is completely filled out, signed, and dated by the buyer. 
(B) The dealer provides the buyer, prior to the sale, a separate written disclosure as to the effect of an "As Is" sa...
Voorbeeld 1 van de 3 pagina's
In winkelwagenVirginia law allows dealers to sell vehicles "As Is" if the following 3 items are in place: - ANSWER-(A) A Buyers Guide is completely filled out, signed, and dated by the buyer. 
(B) The dealer provides the buyer, prior to the sale, a separate written disclosure as to the effect of an "As Is" sa...
If you practice real estate without a license you will be prosecuted by 
 
1. the sheriff. 
2. the attorney general. 
3. a district attorney. 
4. the Real Estate Commission. - ANSWER-3 
 
An individual who charges a fee to sell options on real estate must have 
 
1. an option dealer's license. 
2....
Voorbeeld 4 van de 43 pagina's
In winkelwagenIf you practice real estate without a license you will be prosecuted by 
 
1. the sheriff. 
2. the attorney general. 
3. a district attorney. 
4. the Real Estate Commission. - ANSWER-3 
 
An individual who charges a fee to sell options on real estate must have 
 
1. an option dealer's license. 
2....
There are 3 levels of licensing in CO. What are the 3 levels? - ANSWER-in order from lowest to highest level 
1. Associate broker 
2. Independent broker 
3. Employing broker 
 
Employ*ing* Broker - ANSWER-Hires/supervises an associate broker 
 
*otherwise known as brokers* 
 
What is required of y...
Voorbeeld 2 van de 5 pagina's
In winkelwagenThere are 3 levels of licensing in CO. What are the 3 levels? - ANSWER-in order from lowest to highest level 
1. Associate broker 
2. Independent broker 
3. Employing broker 
 
Employ*ing* Broker - ANSWER-Hires/supervises an associate broker 
 
*otherwise known as brokers* 
 
What is required of y...
Regulation 12-6-502(16) - ANSWER-1. As used in this regulation, a "powersports vehicle dealer" means either a licensed powersports vehicle dealer or licensed used powersports vehicle dealer. 2. A powersports vehicle dealer may sell powersports vehicles at special sales events, shows, or other orga...
Voorbeeld 1 van de 4 pagina's
In winkelwagenRegulation 12-6-502(16) - ANSWER-1. As used in this regulation, a "powersports vehicle dealer" means either a licensed powersports vehicle dealer or licensed used powersports vehicle dealer. 2. A powersports vehicle dealer may sell powersports vehicles at special sales events, shows, or other orga...
2 - ANSWER-It is possible for the public to get the address and number of a licensee from the Real Estate Commission. 
1. False 
2. True 
 
1 - ANSWER-A transaction broker may not pay 
1. a referral fee to a lender. 
2. a co-op fee to another real estate agent. 
3. a referral fee to another real est...
Voorbeeld 2 van de 8 pagina's
In winkelwagen2 - ANSWER-It is possible for the public to get the address and number of a licensee from the Real Estate Commission. 
1. False 
2. True 
 
1 - ANSWER-A transaction broker may not pay 
1. a referral fee to a lender. 
2. a co-op fee to another real estate agent. 
3. a referral fee to another real est...
Who usually deposits the earnest money check into escrow after a contract has been accepted? - ANSWER-Listing Broker 
 
The licensee buy-out addendum must be used under all of the following conditions except: - ANSWER-When a licensee is purchasing the property as a rental investment. 
 
What is the ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenWho usually deposits the earnest money check into escrow after a contract has been accepted? - ANSWER-Listing Broker 
 
The licensee buy-out addendum must be used under all of the following conditions except: - ANSWER-When a licensee is purchasing the property as a rental investment. 
 
What is the ...
The Federal Trade Commission Used Car Rule which sets of the warranty provisions of a sale is known as: - ANSWER-The buyers guide window sticker rule. 
 
The Buyers Guide is placed on the vehicle: - ANSWER-Before it is offered for sale. 
 
A Buyers Guide must be placed on: - ANSWER-- Demonstrators a...
Voorbeeld 1 van de 2 pagina's
In winkelwagenThe Federal Trade Commission Used Car Rule which sets of the warranty provisions of a sale is known as: - ANSWER-The buyers guide window sticker rule. 
 
The Buyers Guide is placed on the vehicle: - ANSWER-Before it is offered for sale. 
 
A Buyers Guide must be placed on: - ANSWER-- Demonstrators a...
Under Conway-Bogue, lisencees must be connected to the ______, must use ______ and approved forms, and may not ______ for preparing the documents - ANSWER-transaction, standard, charge separate fees 
 
Per RESPA and AfBA, brokers may not accept ______ or _______ from title companies. - ANSWER-Referr...
Voorbeeld 3 van de 20 pagina's
In winkelwagenUnder Conway-Bogue, lisencees must be connected to the ______, must use ______ and approved forms, and may not ______ for preparing the documents - ANSWER-transaction, standard, charge separate fees 
 
Per RESPA and AfBA, brokers may not accept ______ or _______ from title companies. - ANSWER-Referr...
C R.S. 12-61-Part 1: 12-61-101: What is a Real Estate Broker? - ANSWER-One who on behalf of another person, for any form of compensation, does, or tries to do (or even thinks of) negotiating, listing, selling, exchanging, buying, renting, leasing, auctioning or dealing in options in, real estate or ...
Voorbeeld 3 van de 24 pagina's
In winkelwagenC R.S. 12-61-Part 1: 12-61-101: What is a Real Estate Broker? - ANSWER-One who on behalf of another person, for any form of compensation, does, or tries to do (or even thinks of) negotiating, listing, selling, exchanging, buying, renting, leasing, auctioning or dealing in options in, real estate or ...
All of the following must be in compliance with a broker's escrow or trust account EXCEPT - ANSWER-by being maintained in the name of the licensed brokerage. 
 
The approved Earnest Money Promissory Note - ANSWER-must be due early enough to assure good funds for closing. 
 
In Colorado license law,...
Voorbeeld 1 van de 2 pagina's
In winkelwagenAll of the following must be in compliance with a broker's escrow or trust account EXCEPT - ANSWER-by being maintained in the name of the licensed brokerage. 
 
The approved Earnest Money Promissory Note - ANSWER-must be due early enough to assure good funds for closing. 
 
In Colorado license law,...
1x verkocht
A licensee may accept compensation from: - ANSWER-The licensees employing broker only 
 
When a licensee uses a licensee buyout addendum you are putting the seller on notice that: - ANSWER-The buyer is a licensee, the buyer may make a profit and the seller may incur a loss. 
 
When must a listing br...
Voorbeeld 2 van de 9 pagina's
In winkelwagenA licensee may accept compensation from: - ANSWER-The licensees employing broker only 
 
When a licensee uses a licensee buyout addendum you are putting the seller on notice that: - ANSWER-The buyer is a licensee, the buyer may make a profit and the seller may incur a loss. 
 
When must a listing br...
When employing the income approach to value, the improvements and the land are valued: 
 
 By comparing the sales of similar properties 
 By determining the cost per square foot of reproducing improvements 
 By capitalizing income 
 Concurrently by more than one approach - ANSWER-By capitalizing in...
Voorbeeld 4 van de 44 pagina's
In winkelwagenWhen employing the income approach to value, the improvements and the land are valued: 
 
 By comparing the sales of similar properties 
 By determining the cost per square foot of reproducing improvements 
 By capitalizing income 
 Concurrently by more than one approach - ANSWER-By capitalizing in...
How long are the terms for members of the Colorado Real Estate Commission? 
Six Years 
Three Years 
Four Years 
Five Years - ANSWER-Three Years 
 
"The Division has a five-member Commission that meets bi-monthly to conduct rulemaking hearings, make policy decisions, consider licensing matters, revi...
Voorbeeld 3 van de 30 pagina's
In winkelwagenHow long are the terms for members of the Colorado Real Estate Commission? 
Six Years 
Three Years 
Four Years 
Five Years - ANSWER-Three Years 
 
"The Division has a five-member Commission that meets bi-monthly to conduct rulemaking hearings, make policy decisions, consider licensing matters, revi...
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. - ANSWER-D) Hearing dispu...
Voorbeeld 3 van de 21 pagina's
In winkelwagenDuties 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. - ANSWER-D) Hearing dispu...
he Motor Vehicle Dealer Board is authorized and empowered to: - ANSWER-d. all of the above 
 
Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? - ANSWER-shall not exceed ten thousand dollars for each separate offense 
 
New and used motor vehicle d...
Voorbeeld 2 van de 6 pagina's
In winkelwagenhe Motor Vehicle Dealer Board is authorized and empowered to: - ANSWER-d. all of the above 
 
Dealers may be administratively fined by the Dealer Board up to what amount foreach separate offense? - ANSWER-shall not exceed ten thousand dollars for each separate offense 
 
New and used motor vehicle d...
Three of the following types of motor vehicles are exempt from the truth in mileage act. - ANSWER-~Vehicles 10 years old or older 
~Vehicles having a gross empty weight more than 10,000 lbs 
~Vehicles not self propelled (Trailers) 
 
The definition of a used motor vehicle dealer or used dealer incl...
Voorbeeld 2 van de 7 pagina's
In winkelwagenThree of the following types of motor vehicles are exempt from the truth in mileage act. - ANSWER-~Vehicles 10 years old or older 
~Vehicles having a gross empty weight more than 10,000 lbs 
~Vehicles not self propelled (Trailers) 
 
The definition of a used motor vehicle dealer or used dealer incl...
According to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? - ANSWER-d) All of the above 
 
Colorado Lemon law covers: - ANSWER-c)defects that substantially impair the market value of a vehicle 
 
Three of the following are required to be d...
Voorbeeld 2 van de 6 pagina's
In winkelwagenAccording to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? - ANSWER-d) All of the above 
 
Colorado Lemon law covers: - ANSWER-c)defects that substantially impair the market value of a vehicle 
 
Three of the following are required to be d...
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