COLORADO REAL ESTATE EXAM FINAL |QUESTIONS AND 100% CORRECT ANSWERS |LATEST 2025/2026|GUARANTEED A+

COLORADO REAL ESTATE EXAM FINAL
|QUESTIONS AND 100% CORRECT
ANSWERS |LATEST 2025/2026|GUARANTEED


According to the Truth in Lending Act, if any 'trigger terms' are used in an ad, all of the followin
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g disclosures MUST appear in the ad EXCEPT the - ANSWER-
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amount of the down payment B B B B




The Settlement Sheet prepared for the closing must be signed by - ANSWER-
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the licensee who personally established a brokerage relationship with the party
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An administrative assistant may - ANSWER-
B B B B B Write checks from escrow account B B B B




FIRPTA may require proceeds to be held after Closing when - ANSWER-
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Seller is a foreign person
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Using 30 day/360 year method A tenant has leased a rental space by utilizing a percentage of g
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ross sales lease. His lease stipulates a minimum rent payment of $1,400 per month plus 4.5%
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of gross sales exceeding $500,000 per year. What would the gross annual sales be if he paid $2
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2,425 in rent for the year? - ANSWER-
B B B B B B B $625,000



The Exclusive Right to Sell is effective from Apr 1 to Sept 1 and the home is listed for $575000.
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The seller excludes all the appliances as they are brand new. The listing agreement states ther
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e are 2 garage door openers and the security system is leased. The sellers acknowledge that th
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ere are storm windows in the garage to the property. The sellers would like to leaseback the pr
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operty if it sells prior to August as their new home will not be ready until Aug 15th. The sellers
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do not want to pay any points for the buyer�s loan and they would like $5000 in earnest mone
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y. The buyers write an offer for $525,000 and ask the sellers to pay $2000 for closing costs on J
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une 3. The closing is to be June 30th. The sellers counter the offer and ask for a leaseback until
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August 15th which the buyers accept. There is no mention of the appliances or the security sys
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tem lease in the offer or the counter offer. The buyers during th - ANSWER-
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Terminate the contract as the offer was to include the appliances per the contract
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1
Wicky

, Void the offer as the Seller�s breached the contract
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A contract has been drawn which obliges the sellers to convey title to their land to the buyers i
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f the buyers come up with $22,000 on or before December 31st. This is called - ANSWER-
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an option
B




When associated with the sale of a property as broker, which of the following is the licensee le
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gally responsible for - ANSWER-
B B B B preparing settlement sheets at closings B B B B




A General Warranty conveys - ANSWER-
B B B B B



Seller warrants against all persons having ownership of property
B B B B B B B B




The statement, 'The apartment has a fantastic view' would be considered - ANSWER-
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puffing



If the taxes for the preceding year are unpaid at the time of an August 14 closing, what must th
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e broker do? - ANSWER-
B B B B Nothing, these taxes will be due during the following January
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In connection with property management activities, security deposits - ANSWER-
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should be held in a separate, security deposit trust account by property manager.
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Rule E-35 refers to - ANSWER-
B B B B B Brokerage relationships B




The buyer does not get an inspection by the Inspection Deadline in the Buy/Sell contract -
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ANSWER-
B



the buyer may still do an inspection, however, loses the right to ask for repairs
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Susan has agreed to assume a mortgage payoff of $74,350 at 7% interest. The monthly P&I pa
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yment is $615.40 and closing is set for April 19th. How will the interest proration appear on th
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e closing statement if the parties use the 30 day month/360 day year method? - ANSWER-
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$274.74 Debit-Seller, Credit- Buyer B B B




2
Wicky