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Colorado Real Estate License Exam: Practice Questions and Answers, Exams of Advanced Education

Cheyney University of PennsylvaniaAdvanced Education

A comprehensive set of practice questions and answers for the colorado real estate licensing exam. it covers various aspects of real estate law, brokerage relationships, agency, and ethical considerations. The questions are designed to test knowledge of colorado-specific regulations and best practices, making it a valuable resource for aspiring real estate professionals in the state. the detailed answers offer explanations and insights into the legal framework governing real estate transactions in colorado.

Typology: Exams

2024/2025

Available from 04/23/2025

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CCR COLORADO CONTRACTS & REGULATIONS ACTUAL
EXAM TEST COMPLETE NEWEST WITH ANSWERS
1. Which of the following must have a real estate license in Colorado?
A. An on-site manager of an apartment building performing the
customary duties of an on-site manager.
B. A regularly salaried, on-site manager of a condo complex employed
by a homeowner association, who also shows and sells units in the
complex, for individual owners.
C. A real estate broker licensed in another state that receives a share
of a commission from a Colorado real estate broker.
D. A person employed by a corporation who negotiates the
purchasing of rights of way for telecommunication lines.: B
2. If a licensee has violated the license law, what is the maximum
monetary penalty the Real Estate Commission may impose?
A. A $2,500 administrative fine plus damages to the complainant.
B. A $2,500 administrative fine.
C. A $2,500 administrative fine plus actual damages plus punitive damages.
D. No fine, only license suspension or revocation.: B
3. A broker moves his office to the building next door and neglects to
inform the real estate commission. What is the status of the brokerage
license?
A. The license is revoked.
B. The license is cancelled and only the employed licensees may
conduct business.
C. The license is unaffected so long as the broker informs the
commission within thirty days.
D.The license is inactive along with the licenses of employed licensees.: D
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Download Colorado Real Estate License Exam: Practice Questions and Answers and more Exams Advanced Education in PDF only on Docsity!

CCR COLORADO CONTRACTS & REGULATIONS ACTUAL

EXAM TEST COMPLETE NEWEST WITH ANSWERS

  1. Which of the following must have a real estate license in Colorado? A. An on-site manager of an apartment building performing the customary duties of an on-site manager. B. A regularly salaried, on-site manager of a condo complex employed by a homeowner association, who also shows and sells units in the complex, for individual owners. C. A real estate broker licensed in another state that receives a share of a commission from a Colorado real estate broker. D. A person employed by a corporation who negotiates the purchasing of rights of way for telecommunication lines.: B
  2. If a licensee has violated the license law, what is the maximum monetary penalty the Real Estate Commission may impose? A. A $2,500 administrative fine plus damages to the complainant. B. A $2,500 administrative fine. C. A $2,500 administrative fine plus actual damages plus punitive damages. D. No fine, only license suspension or revocation.: B
  3. A broker moves his office to the building next door and neglects to inform the real estate commission. What is the status of the brokerage license? A. The license is revoked. B. The license is cancelled and only the employed licensees may conduct business. C. The license is unaffected so long as the broker informs the commission within thirty days. D. The license is inactive along with the licenses of employed licensees.: D
  1. When would a business opportunity broker NOT need a real estate license? A. Whenever any interest of real property is included with the business. B. Whenever the transfer involves real estate leased by the business. C. Whenever the transfer involves neither real estate nor any rights in real property. D. Whenever the value of real property is less than ten percent of the price.: C
  2. Which of the following would NOT be proper for an unlicensed on- site manager of an apartment complex? A. Showing apartments that are available to rent. B. Filling in a lease and collecting a tenant's deposit. C. Negotiating a rent reduction for a long-term tenant. D. Explaining the lease terms and rules and regulations of the complex.: C
  3. Which of the following is exempt from the real estate licensing law in Colorado? A. An attorney-at-law who lists a client's house for sale for a 5% sales com- mission. B. A son selling his father's property under a proper power of attorney and receiving a fee of 2% of the selling price. C. An investor who owns more than six houses and sells two of them to a private individual. D. An inactive licensee helping a co-worker fill out a purchase offer on a for sale by owner property and not collecting a fee.: C
  4. Sally is the broker owner of Ajax Realty which is a trade name registered with the Colorado Department of Revenue and licensed with the Real Estate Commission as Ajax Realty. Which of the following is correct? A. All licensees employed by Sally do business only in the name of Ajax Realty. B. All newspaper advertising must be in Sally's name as broker. C. Sally may do business either as Ajax Realty or under her married name or under her birth name.

C. George Brilliant, Colorado Licensee #AB67123. D. ABC by George Brilliant.: B

  1. Which is the lowest level of discipline imposed by the Commission? A. Stipulation B. $500 fine C. Censure D. Admonishment: D
  2. A licensee may accept a referral fee from their buyer's lender: A. under no circumstances. B. only if RESPA applies to the transaction. C. with prior written consent from buyer. D. with prior written consent from both buyer and seller.: D
  3. Under what circumstances may a licensee NOT provide a CMA? A. If a buyer does not know how much they should offer the seller. B. When a lender is trying to establish the value of REO property. C. When the buyer's lender needs an evaluation for a second mortgage. D. If a prospective seller is uncertain about a prospective list price.: B
  4. An unlicensed on-site manager may do all the following EXCEPT: A. collect security deposits. B. collect rents. C. show units to prospective tenants. D. set rental rates. Return to all tests: D
  5. Which of the following is NOT required to maintain errors and omission insurance? A. An inactive licensee. B. An active licensee. C. An attorney at law who is also an active licensee. D. A broker associate.: A
  1. As a result of a sale, a broker could properly receive from a title company: A. free CE classes. B. coffee at a sponsored event. C. brochures for the broker's listings. D. a trip to the National RealtorĀ® convention.: B
  2. The employing Broker's responsibility to provide a high level of supervi- sions applies to: A. all associates. B. only Independent brokers. C. all associates who have not completed at least 10 transactions. D. associates who have been licensed for two years or less.: D
  3. The Real Estate Commission could use all the following as consequence for violations of commission rules and regulations EXCEPT: A. suspend the license. B. require education to be taken. C. administrative fine of $2500.00. D. up to six months in jail.: D
  4. The relationship between a broker and his buyer principal may be de- scribed as all of the following EXCEPT: A. Fiduciary. B. Broker and client. C. Attorney-in-fact. D. Agency relationship.: C
  5. In Colorado, a real estate licensee, unless otherwise agreed in writing, is considered to be: A. transaction-broker. B. agent of the seller. C. agent of the buyer. D. dual agent.: A
  6. An unlicensed personal assistant may do all of the following EXCEPT:

C. agent for the buyer. D. dual agent.: B

  1. When a broker's in-company policy is practicing only Transaction- Broker, which of the following is true? A. All company listings must be taken using the listing contract and checking the Transaction-Broker box. B. The broker is only a Transaction-Broker by default. C. The broker may take an agency listing with a Transaction-Broker Addendum attached and by checking the proper box, may remain an agent until the other party signs a Transaction-Broker agreement or addendum. D. The broker will always be an agent to the party employing him/her and a Transaction-Broker to the other party.: A
  2. Which of the following would NOT be acceptable for disclosing brokerage relationship? A. Brokerage Disclosure to Buyer B. Brokerage Disclosure to Seller (For Sale By Owner) C. Definitions of Working Relationships D. Exclusive Right-to-Sell Listing Contract: C
  3. A licensee listed a home as a seller's agent and the home is now under contract. The sellers ask the agent to help them find a replacement home to purchase. In the purchase transaction, the licensee: A. will continue to be the seller's agent for all transactions with them. B. will be agent for the seller of their next home and must disclose that fact. C. does not have to decide until they determine which home they want to purchase. D. may be either an agent or transaction-broker depending on the mutual agreement.: D
  4. What legal duties does a seller's agent owe to an unrepresented buyer? A. Loyalty, fidelity, and disclosure of material facts about the property.

B. No specific duties - agency duties are to the principal. C. Fair and honest dealing and disclosure of material facts about the property. D. Honest dealing and full disclosure of anything the broker knows about the transaction.: C

  1. When must a listing broker disclose to the buyer the broker's working relationship with the seller? A. In writing at the time the contract to buy and sell is signed. B. Orally before writing the contract and in writing before closing. C. In writing before any conversation or discussion. D. In writing before providing specific real estate assistance.: D
  2. All the following in-company relationships are acceptable for a one- person designated broker EXCEPT: A. agent for the buyer and transaction-broker for the seller. B. agent for the seller with the buyer as an unrepresented customer. C. agent for the buyer with seller as an unrepresented customer. D. transaction-broker for both buyer and seller.: A
  3. Your sellers had a radon test done when they bought six years ago. That test showed "action" levels of radon in the basement storeroom only. They must: A. disclose the test results and the age of the test. B. disregard such an old test. C. keep a basement window open during the listing. D. have a new test done now.: A
  4. Which could NOT be a valid company policy regarding in-company trans- actions? A. Represent seller as seller's agent and buyer as buyer's agent in the same transaction. B. Represent seller as seller's agent and buyer as customers.

D. customer.: D

  1. You are completing a Seller Listing Contract. Your seller client asks that you retain your agent status for all but your personal transactions. Which is correct regarding this request? a. You cannot agree because the statute requires default Transaction- Broker status. b. You agree but must explain that you cannot show the property to unrepre- sented buyers. c. You agree and explain how the form allows for this unless otherwise indi- cated. d. You cannot agree because you cannot be their agent and Transaction- Broker to another party.: C
  2. Contracts with original signatures are required: a. at closing. b. at the time of acceptance. c. not later than delivery of title evidence. d. if requested.: D
  3. Which of the following in NOT a uniform duty expected of all real estate brokers? a. Keeping the buyer or seller fully informed regarding the transaction. b. Disclosing to the buyer or seller material facts actually known by the broker. c. Counsel the buyer or seller as to the material benefits or risks of a transac- tion. d. Accounting in a timely manner for all monies and property received.: C
  4. The effect of a Transaction-Broker Seller listing is to do all EXCEPT? a. Remove broker's fiduciary duty. b. Remove broker's obligation to investigate a potential buyer. c. Remove broker's obligation to disclose material defects. d. Remove broker's obligation to communicate buyer confidential informa- tion.: C
  1. Your company offers a 'Buyer Protection Plan'. The plan pays an adminis- trative fee of $20 if either the buyer or the seller purchases the plan. If you have an Exclusive Right-to-Sell Listing Contract: a. you may accept the fee without disclosure. b. your broker may accept the fee, you may not since you are an associate. c. it is illegal for you or your broker to benefit from this service. d. with permission from the seller your broker may accept the fee.: C
  2. Two joint tenants sign a listing with your company. What is the minimum number of duplicate originals needed? a. 2 b. 4 c. 3 d. 5: C
  3. When a designated broker personally sells his/her own listing, a seller may NOT authorize the broker to: a. be an agent to the seller and a transaction-broker to a buyer. b. remain a seller agent. c. remain an agent of the seller unless the broker has established a brokerage relationship with the buyer. d. be a transaction-broker in all cases.: A
  4. Which of the following "Broker's Services" is NOT appropriate to the Seller agency listing form? a. Informing the seller and buyer that, in their respective capacities, they shall not be vicariously liable for any acts of the broker. b. Informing the seller that such seller may be vicariously liable for the acts of seller's agent if the seller directs, approves, or ratifies the acts. c. Disclosing to the seller adverse material facts actually known by broker. d. Accounting in a timely manner for all money and property received.: A
  5. Based on the approved Exclusive Right-to-Sell (agency) listing form, the broker is a: a. general agent for seller. b. agent for seller and TB for any unrepresented buyer.

d. seller would owe a commission even if they list with another broker.: D

  1. In the Exclusive Right-to-Sell listing contract the agent need NOT perform which of the following duties? a. Present all offers to the seller in a timely manner. b. Inform the seller about any potential risks of a transaction. c. Verify the accuracy of seller's statements about the properties condition. d. Work with the seller to find an offer for a price that the seller wants.: C
  2. The commission-approved form for the Exclusive Right to Sell Listing Contract is: a. one form for all types of property, either transaction broker or agency. b. different forms for different types of real estate. c. different forms for different relationships. d. an agency form.: A
  3. When printing commission approved forms the broker: a. must reproduce the forms exactly as approved. b. may include special modifications if approved by the Commission. c. may omit certain provisions as allowed by the Commission. d. may use only those forms available on the Commission website.: C
  4. The broker is listing a home for sale with an underground storage tank. The seller has neither seen nor ever used the storage tank. The only reason he is aware of the existence of the tank is because his neighbor told him about it some years ago. The seller does not want to disclose his knowledge of the tank for fear that, if known, it might scare away potential buyers. How should the broker handle this request? a. Order an environmental report certifying the tank is not leaking. b. Locate and inspect the tank to ensure problems would not come up later. c. Require the seller to disclose the existence of the tank.

d. Walk away from this listing as the seller is obviously not being forthright.: C

  1. In listing a property, a broker will do all the following EXCEPT: a. use a commission approved form. b. explain the uniform duties. c. inform the seller that it is their responsibility to pay the cooperating brokers. d. negotiate the commission that the company directs the broker to charge.: C
  2. The seller's designated broker is contacted by the seller's neighbor threat- ening legal action because a drone photograph shows a portion of the neigh- bor's back yard. Based upon the Exclusive Right Listing Contract the broker could: a. remove the drone photograph from all marketing materials. b. suggest the neighbor check local drone regulations. c. require the broker's liability insurance company to respond. d. require the seller to contact the neighbor for resolution.: A
  3. A buyer's broker under either a Buyer Agency or a Transaction- Broker agreement will be paid: a. entirely by buyer. b. entirely by buyer. c. entirely by listing broker. d. by the buyer or other sources as authorized.: D
  4. In an Exclusive Right to Buy agreement, the buyer: a. must pay a nonrefundable deposit to prove they are serious. b. must pay a commission even if no purchase is closed. c. always insists that someone else pay Broker. d. may be responsible for Broker's fee which may be paid by someone else.: D

b. buyer could be held responsible for the brokers commission. c. broker's fee must come from the seller. d. broker cannot collect a fee.: B

  1. A buyer who wishes to remain anonymous until closing: a. cannot do this, it is illegal. b. must hire an attorney-at-law to be a straw man.

c. must reveal his identity to the Sellers agent. d. may do so by instructing the broker.: D

  1. Which of the following would NOT be a duty owed to a buyer under every Exclusive Right-To-Buy Contract? a. Keeping buyer fully informed regarding the transaction. b. Performing the terms of any agreement with the buyer. c. Disclosing to buyer adverse material facts actually known by broker. d. Discuss material benefits or risks of a transaction.: D
  2. The Licensee Buy Out Addendum to the Contract to Buy and Sell Real Estate: a. is not a good idea because you might be stuck with an overpriced property. b. is required when a licensee desires to purchase a property for his or her own use. c. must be signed by the Employing or Managing Broker as well as the licensee offering the Buy-out. d. is used as an inducement to list.: D
  3. When a broker negotiates a Success Fee under the Exclusive Right to Buy Contract, which is true? a. If the broker cannot get the fee from the listing broker or seller, the buyer is under no obligation to pay. b. The listing broker must pay the negotiated fee at closing. c. Broker may be directed to seek payment from several sources. d. The buyer will pay the fee at closing.: C
  4. When a buyer wishes to work with a broker to locate property to purchase, the: a. buyer and broker may agree to a relationship, which could include agency or transaction-brokerage. b. buyer will be a customer with no working relationship to the brokerage company. c. brokerage will be an agent for the buyer unless there is a written agreement for another relationship.

b. Assist in the valuation c. Provide exact square footage d. For marketing: D

  1. Brokers working for buyers under the Exclusive Right to Buy Contract may: a. receive compensation from lenders without disclosure to the buyer. b. seek a nonrefundable retainer fee, which must be credited toward any Success Fee earned. c. negotiate an hourly fee to be paid in addition to any other compensation agreed. d. require listing brokers to adjust their co-op fee to match the buyer's broker's negotiated fee.: C
  2. In order to extend an Exclusive Right-To Buy Contract between a brokerage firm and a buyer, the broker would use the: a. Agreement to Amend/Extend Contract. b. Change of Status form. c. Listing Contract Amend/Extend Broker. d. Brokerage Disclosure to Buyer form.: C
  3. Under the mediation provision of the brokerage relationship forms, the parties must: a. agree that a mediator's judgment is binding. b. submit to binding arbitration before a lawsuit is permitted. c. agree to submit a dispute to mediation before litigation. d. settle out of court to avoid legal fees.: C
  4. In each brokerage relationship approved form, a section calls for the broker to recommend legal counsel. This provision: a. complies with federal disclosure statutes. b. is required by license law and Commission Rules. c. is required to avoid the unauthorized practice of law. d. protects the Real Estate Commission from lawsuits.: B
  1. The "Change of Status" form must be signed: a. at the closing so there is no agency with the co-operative broker. b. at the time that you take a listing with a seller.