Colorado Real Estate Exam - Questions
Who of the following is exempt from real estate license law? - ✔✔ correct answer Investors who own 12
investment properties and sell one to an owner-occupant
The purpose of the CRE Commission is to... - ✔✔ correct 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... - ✔✔ correct answer May
decide to refer the matter to a hearing before an appointed administrative law judge
If judge finds broker in violation, penalties include public censure, license suspension, license revocation
or fine of no more than $2,500.
Commission doesn't have authority to determine damages or order restitution.
The real estate commission must investigate... - ✔✔ correct answer Any verified written complaint.
The commission doesn't deal with disputes b/t brokers.
In order to be the broker of record for a corporation, a person must hold... - ✔✔ correct answer A valid
active CO broker's license.
In March 2001, the law removed the requirement for ownership and office/director status.
In the event that the employing broker of a corporate brokerage is suddenly unable to continue in that
position, the commission may issue a temporary "hardship" license to any.... - ✔✔ correct answer CO
licensee approved by the corporate board of directors.
Licensee can either be a broker or a salesperson.
Sole proprietorship has no business entity and much rehire all employed licensees and renegotiate all
listings.
, Colorado Real Estate Exam - Questions
When the employing broker changes the primary business address... - ✔✔ correct answer The broker
must notify the commission in a manner acceptable to the commission or the brokerage license will
become inactive.
If a broker fails to notify the commission, all licensees will become inactive until the change is made.
One notification services for the broker and all associated licensees.
When must CO licenses be renewed? - ✔✔ correct answer Every three years on the anniversary of
licensing.
Errors and omissions professional liability insurance is required.... - ✔✔ correct answer By every active
licensee.
Inactive brokers do not need E&O insurance and they cannot conduct any RE activity.
Employing broker business entities must also have coverage independent of the personal coverage for
the broker of record.
In order to renew an active CO real estate license, the licensee must complete... - ✔✔ correct answer 24
hours of approved continuing education or successful completion of the CO portion of the state licensing
exam.
This includes 4 hours of mandatory courses each year for a total of 12 hours required by commission in a
three year period.
A person maintaining an inactive CO real estate license... - ✔✔ correct answer Must complete continuing
education for the current renewal cycle before activating the license.
Inactive licensees are subject to full control and discipline of the real estate commission.
Who of the following is exempt from real estate license law? - ✔✔ correct answer Investors who own 12
investment properties and sell one to an owner-occupant
The purpose of the CRE Commission is to... - ✔✔ correct 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... - ✔✔ correct answer May
decide to refer the matter to a hearing before an appointed administrative law judge
If judge finds broker in violation, penalties include public censure, license suspension, license revocation
or fine of no more than $2,500.
Commission doesn't have authority to determine damages or order restitution.
The real estate commission must investigate... - ✔✔ correct answer Any verified written complaint.
The commission doesn't deal with disputes b/t brokers.
In order to be the broker of record for a corporation, a person must hold... - ✔✔ correct answer A valid
active CO broker's license.
In March 2001, the law removed the requirement for ownership and office/director status.
In the event that the employing broker of a corporate brokerage is suddenly unable to continue in that
position, the commission may issue a temporary "hardship" license to any.... - ✔✔ correct answer CO
licensee approved by the corporate board of directors.
Licensee can either be a broker or a salesperson.
Sole proprietorship has no business entity and much rehire all employed licensees and renegotiate all
listings.
, Colorado Real Estate Exam - Questions
When the employing broker changes the primary business address... - ✔✔ correct answer The broker
must notify the commission in a manner acceptable to the commission or the brokerage license will
become inactive.
If a broker fails to notify the commission, all licensees will become inactive until the change is made.
One notification services for the broker and all associated licensees.
When must CO licenses be renewed? - ✔✔ correct answer Every three years on the anniversary of
licensing.
Errors and omissions professional liability insurance is required.... - ✔✔ correct answer By every active
licensee.
Inactive brokers do not need E&O insurance and they cannot conduct any RE activity.
Employing broker business entities must also have coverage independent of the personal coverage for
the broker of record.
In order to renew an active CO real estate license, the licensee must complete... - ✔✔ correct answer 24
hours of approved continuing education or successful completion of the CO portion of the state licensing
exam.
This includes 4 hours of mandatory courses each year for a total of 12 hours required by commission in a
three year period.
A person maintaining an inactive CO real estate license... - ✔✔ correct answer Must complete continuing
education for the current renewal cycle before activating the license.
Inactive licensees are subject to full control and discipline of the real estate commission.
