Colorado Contracts & Forms Practice
Questions Final 2024
In Colorado approved sales contract, the Additional Provisions must contain only
A)
Commonly used clauses.
B)
Transaction specific terms.
C)
Any terms agreed to by the seller and broker.
D)
Any terms agreed to by the seller and buyer.
Question points ✔✔B)
Transaction specific terms.
If the buyer and seller agree to facsimile signatures, when is the latest by which original signatures must
be obtained?
A)
10 days before closing.
B)
10 days after obtaining facsimile signatures.
C)
At closing or earlier on request of the buyer or seller.
D)
Original signatures are not required if facsimile signatures are legi ✔✔C)
At closing or earlier on request of the buyer or seller.
,Prior to signing the contract of sale, Colorado Law provides that a lead-based paint disclosure signed by
the seller and the licensee must be handed to the buyer:
A)
If the building was built prior to January, 1978.
B)
If a building permit was issued prior to January, 1978.
C)
If the property is intended for any residential use and a building permit was issued prior to January,
1978.
D)
If the property is intended for any residential use.
Question 4 ✔✔C)
If the property is intended for any residential use and a building permit was issued prior to January,
1978.
Under Colorado case law, a title company is permitted to offer closing services including legal document
preparation as:
A)
A co-broker.
B)
An independent contractor.
C)
A scrivener of the broker.
D)
An agent of the seller.
Question 5 ✔✔C)
A scrivener (notary) of the broker.
The main purpose of Rule F is:
A)
, So that attorneys do not have to be consulted.
B)
To help brokers comply with the Conway-Bogue decision.
C)
To help brokers make sales more efficiently.
D)
To ensure that realtors follow the Rules Regulatory Commission ✔✔B)
To help brokers comply with the Conway-Bogue decision.
The Colorado-approved Residential Sales Contract provides a final walk-through. The purpose of this is:
A)
To show the property to relatives.
B)
To find new defects and be able to terminate the contract.
C)
To verify that the physical condition of the property and inclusions are in compliance with the contract.
D)
To give the seller an opportunity to remove exclusions. ✔✔C)
To verify that the physical condition of the property and inclusions are in compliance with the contract.
A change of status disclosure must be giver to the seller:
A)
Only if the seller requests same.
B)
By no later than the first business day after the change of status.
C)
When converting from Agency to Transaction Broker status.
D)
Questions Final 2024
In Colorado approved sales contract, the Additional Provisions must contain only
A)
Commonly used clauses.
B)
Transaction specific terms.
C)
Any terms agreed to by the seller and broker.
D)
Any terms agreed to by the seller and buyer.
Question points ✔✔B)
Transaction specific terms.
If the buyer and seller agree to facsimile signatures, when is the latest by which original signatures must
be obtained?
A)
10 days before closing.
B)
10 days after obtaining facsimile signatures.
C)
At closing or earlier on request of the buyer or seller.
D)
Original signatures are not required if facsimile signatures are legi ✔✔C)
At closing or earlier on request of the buyer or seller.
,Prior to signing the contract of sale, Colorado Law provides that a lead-based paint disclosure signed by
the seller and the licensee must be handed to the buyer:
A)
If the building was built prior to January, 1978.
B)
If a building permit was issued prior to January, 1978.
C)
If the property is intended for any residential use and a building permit was issued prior to January,
1978.
D)
If the property is intended for any residential use.
Question 4 ✔✔C)
If the property is intended for any residential use and a building permit was issued prior to January,
1978.
Under Colorado case law, a title company is permitted to offer closing services including legal document
preparation as:
A)
A co-broker.
B)
An independent contractor.
C)
A scrivener of the broker.
D)
An agent of the seller.
Question 5 ✔✔C)
A scrivener (notary) of the broker.
The main purpose of Rule F is:
A)
, So that attorneys do not have to be consulted.
B)
To help brokers comply with the Conway-Bogue decision.
C)
To help brokers make sales more efficiently.
D)
To ensure that realtors follow the Rules Regulatory Commission ✔✔B)
To help brokers comply with the Conway-Bogue decision.
The Colorado-approved Residential Sales Contract provides a final walk-through. The purpose of this is:
A)
To show the property to relatives.
B)
To find new defects and be able to terminate the contract.
C)
To verify that the physical condition of the property and inclusions are in compliance with the contract.
D)
To give the seller an opportunity to remove exclusions. ✔✔C)
To verify that the physical condition of the property and inclusions are in compliance with the contract.
A change of status disclosure must be giver to the seller:
A)
Only if the seller requests same.
B)
By no later than the first business day after the change of status.
C)
When converting from Agency to Transaction Broker status.
D)
