1 | Page
Colorado contracts and regulations pt.
2 Questions and Answers Latest 2026
In a transaction with a listing broker and a broker acting
as. buyers agent, who normally holds the earnest money?
Ans: the listing broker
when a broker and a buyer enter into an exclusive right
to buy contract; the: Ans: buyer is bound to work with
only one broker during the contract
in the exclusive fight to buy contract agreement,
regarding the commission Ans: the buyers broker might
share in the listing brokers fee paid by the seller
after singing the exclusive right to sell contract, the
listing broker must also disclose: Ans: to all prospective
buyers the listing brokers relationship to the seller
the exclusive brokerage listing addendum: Ans: allows
the seller to negotiate a sale and not pay the broker
according the stature, "good funds" includes: Ans: tellers
check from a savings and loan institution
If a buyer and seller have a dispute over earnest money,
the listing broker may Ans: hold the money in the escrow
account until the parties come to an agreement
© 2025 All rights reserved
, 2 | Page
A broker keeps one or more trust accounts in order to:
Ans: separate funds belonging to others from brokerage
operating funds
if property taxes are to be paid in one installment, when
must the payment be made to avoid interest and
penalties Ans: end of April
a contract has terminated due to an unresolved appraisal
objection. the parties want to continue working towers
resolution and closing. how should the proceed? Ans:
complete and sign an agreement to revive contract
a broker secures a listing under an exclusive right to sell
listing agreement. the broker then shows the property to
a prospective buyer and provides the buyers name and
seller in writing. after the listing expires, the seller signs
another exclusive right to sell agreement with a new
broker which terminates the holdover period. the buyer
returns to the original listing broker ready to prepare an
offer on the property. if they buy the property, who is
legally entitled to the commission? Ans: the new listing
broker is entitles to the whole commission buy may agree
to pay a co-op commission to the selling broker
the buyer and seller are in disputer about the earnest
money. according to the contract to buy and sell, the
earnest money holder: Ans: may hold the earnest mosey
until written mutual instructions are provided
When an earnest Money Promissory Note is used to
provide earnest money, another condition that must be
© 2025 All rights reserved
, 3 | Page
met includes that the Ans: the note must be identifies in
the sales contract including due date of the note
how is the broker compensation determined under the
exclusive right to sell listing contract? Ans: commission
is determined by the broke
an in-company (one firm) transaction is not one on which
a broker: Ans: has an agency listing, and the cooperating
broker is a transaction broker
under what circumstances may a license accept a referral
fee from a mortgage lender for referring a buyer that are
working with? Ans: when the broker has prior written
consent from the buyer and seller
the approved earnest money promissory note: Ans: must
be due early enough to assure good funds for closing
which of the following requires the use of the licensee
buyout addendum to the contract to buy and sell? Ans: a
broker is offering a guarantee buyout arrangement as an
inducement to list with his or her company
When is the listing company responsible for a guaranteed
buyout agreement under the licensee buyout addendum
to contract to buy and sell Ans: if the employing broker
also signs at the bottom of the addendum
which of the following is appropriate when the licensee
wants to extend the effective period of a listing
agreement? Ans: agreement to amend/extend contract
with broker
© 2025 All rights reserved
Colorado contracts and regulations pt.
2 Questions and Answers Latest 2026
In a transaction with a listing broker and a broker acting
as. buyers agent, who normally holds the earnest money?
Ans: the listing broker
when a broker and a buyer enter into an exclusive right
to buy contract; the: Ans: buyer is bound to work with
only one broker during the contract
in the exclusive fight to buy contract agreement,
regarding the commission Ans: the buyers broker might
share in the listing brokers fee paid by the seller
after singing the exclusive right to sell contract, the
listing broker must also disclose: Ans: to all prospective
buyers the listing brokers relationship to the seller
the exclusive brokerage listing addendum: Ans: allows
the seller to negotiate a sale and not pay the broker
according the stature, "good funds" includes: Ans: tellers
check from a savings and loan institution
If a buyer and seller have a dispute over earnest money,
the listing broker may Ans: hold the money in the escrow
account until the parties come to an agreement
© 2025 All rights reserved
, 2 | Page
A broker keeps one or more trust accounts in order to:
Ans: separate funds belonging to others from brokerage
operating funds
if property taxes are to be paid in one installment, when
must the payment be made to avoid interest and
penalties Ans: end of April
a contract has terminated due to an unresolved appraisal
objection. the parties want to continue working towers
resolution and closing. how should the proceed? Ans:
complete and sign an agreement to revive contract
a broker secures a listing under an exclusive right to sell
listing agreement. the broker then shows the property to
a prospective buyer and provides the buyers name and
seller in writing. after the listing expires, the seller signs
another exclusive right to sell agreement with a new
broker which terminates the holdover period. the buyer
returns to the original listing broker ready to prepare an
offer on the property. if they buy the property, who is
legally entitled to the commission? Ans: the new listing
broker is entitles to the whole commission buy may agree
to pay a co-op commission to the selling broker
the buyer and seller are in disputer about the earnest
money. according to the contract to buy and sell, the
earnest money holder: Ans: may hold the earnest mosey
until written mutual instructions are provided
When an earnest Money Promissory Note is used to
provide earnest money, another condition that must be
© 2025 All rights reserved
, 3 | Page
met includes that the Ans: the note must be identifies in
the sales contract including due date of the note
how is the broker compensation determined under the
exclusive right to sell listing contract? Ans: commission
is determined by the broke
an in-company (one firm) transaction is not one on which
a broker: Ans: has an agency listing, and the cooperating
broker is a transaction broker
under what circumstances may a license accept a referral
fee from a mortgage lender for referring a buyer that are
working with? Ans: when the broker has prior written
consent from the buyer and seller
the approved earnest money promissory note: Ans: must
be due early enough to assure good funds for closing
which of the following requires the use of the licensee
buyout addendum to the contract to buy and sell? Ans: a
broker is offering a guarantee buyout arrangement as an
inducement to list with his or her company
When is the listing company responsible for a guaranteed
buyout agreement under the licensee buyout addendum
to contract to buy and sell Ans: if the employing broker
also signs at the bottom of the addendum
which of the following is appropriate when the licensee
wants to extend the effective period of a listing
agreement? Ans: agreement to amend/extend contract
with broker
© 2025 All rights reserved
