QUESTIONS AND 100% CORRECT ANSWERS
Duties of the Colorado Real Estate Commission include all of the following EXCEPT
B B B B B B B B B B B B
A) Investigation of verified written complaints.
B B B B B
B) Approving errors and omissions carriers.
B B B B B
C) Creating the Annual Commission Update course each year.
B B B B B B B B
D) Hearing disputes between brokers. - ANSWER-
B B B B B B
D) Hearing disputed between brokers.
B B B B
A buyer in a closed transaction has filed a complaint with the Colorado Real Estate Commissio
B B B B B B B B B B B B B B B
n, claiming the buyer's agent misrepresented the property. The Commission, in responding to
B B B B B B B B B B B B B
a complaint, would
B B
A) Use its subpoena power to request records from the agent/broker's brokerage firm.
B B B B B B B B B B B B
B B) Start a lawsuit on behalf of the buyer.
B B B B B B B B
B C) Seize all the brokerage firm's records.
B B B B B B
B D) Request the agent/broker supply a response in writing. - ANSWER-
B B B B B B B B B B
D) Request the agent/broker supply a response in writing.
B B B B B B B B
Which of the following could a Colorado real estate broker use toward meeting the 12 hours o
B B B B B B B B B B B B B B B B
f required elective continuing education credits?
B B B B B
A) An exam prep class taken to prepare for the state portion of the licensing exam
B B B B B B B B B B B B B B B
B) A brokerage firm's orientation and personal marketing course
B B B B B B B B
C) Passing the national portion of the broker licensing exam
B B B B B B B B B
B D) The National Association of REALTORS® ethics course - ANSWER-
B B B B B B B B B
D) The National Association of REALTORS® ethics course
B B B B B B B
Errors and omissions professional liability insurance is required for all of the following EXCEPT
B B B B B B B B B B B B B
A) Inactive licensees.
B B
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,B) Active licensees.
B B
C) All license applicants.
B B B
D) Employing brokers. - ANSWER-
B B B B A) Inactive licensees.
B B
A broker completed all of her required continuing education, but 15 days after her anniversary
B B B B B B B B B B B B B B
date, she still has not paid renewal fees for her license. What is the current status of her licens
B B B B B B B B B B B B B B B B B B B
e?
A) Inactive and may not sell real estate
B B B B B B B
B) Active but may not sell real estate
B B B B B B B
C) Expired
B
D) Active and may sell real estate if she pays within 30 days - ANSWER-
B B B B B B B B B B B B B B
B) Active but may not sell real estate
B B B B B B B
All of the following are required to have an active Colorado real estate license EXCEPT
B B B B B B B B B B B B B B
A) An attorney who lists and sells property in addition to practicing law.
B B B B B B B B B B B B
B) A mortgage broker who helps buyers find and buy homes.
B B B B B B B B B B
C) A business opportunity salesperson selling a franchise with a leasehold estate.
B B B B B B B B B B B
D) An attorney selling property as part of an estate. - ANSWER-
B B B B B B B B B B B
D) An attorney selling property as part of an estate.
B B B B B B B B B
Brokers selling real estate must renew their license and errors and omission insurance every
B B B B B B B B B B B B B
A) Three years for the license and every two years for the errors and omissions insurance.
B B B B B B B B B B B B B B B
B) Year for the license and every three years for the errors and omissions insurance.
B B B B B B B B B B B B B B
C) Three years for the license and every year for the errors and omissions insurance.
B B B B B B B B B B B B B B
D) Three years for the license and every three years for the errors and omissions insurance. -
B B B B B B B B B B B B B B B B
ANSWER-
B
C) Three years for the license and every year for the errors and omissions insurance.
B B B B B B B B B B B B B B
A broker associate works for All Star Realty™. The broker must ensure all advertising, including
B B B B B B B B B B B B B B
social media, has the
B B B B
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, A) Firm's trade name at least two times larger than the brokerage's name.
B B B B B B B B B B B B
B) Firm's trade name as registered with the Department of Revenue.
B B B B B B B B B B
C) Broker's name and firm's trade name the same size.
B B B B B B B B B
D) Brokerage's name as registered with the Colorado Real Estate Commission. - ANSWER-
B B B B B B B B B B B B
D) Brokerage's name as registered with the Colorado Real Estate Commission.
B B B B B B B B B B
A Colorado broker associate referred her client to a broker in Florida. The Florida broker called
B B B B B B B B B B B B B B B B
to tell her that the buyer's property in Florida will close soon and she wants to know where to
B B B B B B B B B B B B B B B B B B B
send the referral fee. Which of the following is TRUE about this referral fee?
B B B B B B B B B B B B B
A) The broker associate must deposit the fee into a trust account for holding until after closing.
B B B B B B B B B B B B B B B B
B) The fee must be made payable to the brokerage firm.
B B B B B B B B B B
C) The broker associate does not need to inform anyone of the fee and can deposit it into her p
B B B B B B B B B B B B B B B B B B B
ersonal account. B
D) The broker associate needs to split the fee 50/50 with the brokerage. - ANSWER-
B B B B B B B B B B B B B B
B) The fee must be made payable to the brokerage firm.
B B B B B B B B B B
A broker developed a website to advertise the broker's office with the brokerage's name, locat
B B B B B B B B B B B B B B
ion, and phone number. What additional information does the broker need to include?
B B B B B B B B B B B B
A)Name and address of the home office and the states in which the brokerage holds licenses
B B B B B B B B B B B B B B B
B) License number of the brokerage and list of current active licensees
B B B B B B B B B B B
C) Names of active licensees, addresses, and phone numbers
B B B B B B B B
D) No need for any additional disclosures - ANSWER-
B B B B B B B B
D) No need for any additional disclosures
B B B B B B
As part of the requirement to supervise all associate brokers in the firm, the employing broker
B B B B B B B B B B B B B B B B
would be required to do all of the following EXCEPT
B B B B B B B B B
A) Review all real estate contracts brought to the firm by all associate brokers.
B B B B B B B B B B B B B
B) Attend, or have a qualified broker attend, all listing appointments, showings, and closings of
B B B B B B B B B B B B B B
any newly licensed broker associate for the first month of licensure.
B B B B B B B B B B B
C) Have a written office policy that all broker associates must sign stating they have read it and
B B B B B B B B B B B B B B B B B
agree to follow it.
B B B B
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Duties of the Colorado Real Estate Commission include all of the following EXCEPT
B B B B B B B B B B B B
A) Investigation of verified written complaints.
B B B B B
B) Approving errors and omissions carriers.
B B B B B
C) Creating the Annual Commission Update course each year.
B B B B B B B B
D) Hearing disputes between brokers. - ANSWER-
B B B B B B
D) Hearing disputed between brokers.
B B B B
A buyer in a closed transaction has filed a complaint with the Colorado Real Estate Commissio
B B B B B B B B B B B B B B B
n, claiming the buyer's agent misrepresented the property. The Commission, in responding to
B B B B B B B B B B B B B
a complaint, would
B B
A) Use its subpoena power to request records from the agent/broker's brokerage firm.
B B B B B B B B B B B B
B B) Start a lawsuit on behalf of the buyer.
B B B B B B B B
B C) Seize all the brokerage firm's records.
B B B B B B
B D) Request the agent/broker supply a response in writing. - ANSWER-
B B B B B B B B B B
D) Request the agent/broker supply a response in writing.
B B B B B B B B
Which of the following could a Colorado real estate broker use toward meeting the 12 hours o
B B B B B B B B B B B B B B B B
f required elective continuing education credits?
B B B B B
A) An exam prep class taken to prepare for the state portion of the licensing exam
B B B B B B B B B B B B B B B
B) A brokerage firm's orientation and personal marketing course
B B B B B B B B
C) Passing the national portion of the broker licensing exam
B B B B B B B B B
B D) The National Association of REALTORS® ethics course - ANSWER-
B B B B B B B B B
D) The National Association of REALTORS® ethics course
B B B B B B B
Errors and omissions professional liability insurance is required for all of the following EXCEPT
B B B B B B B B B B B B B
A) Inactive licensees.
B B
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,B) Active licensees.
B B
C) All license applicants.
B B B
D) Employing brokers. - ANSWER-
B B B B A) Inactive licensees.
B B
A broker completed all of her required continuing education, but 15 days after her anniversary
B B B B B B B B B B B B B B
date, she still has not paid renewal fees for her license. What is the current status of her licens
B B B B B B B B B B B B B B B B B B B
e?
A) Inactive and may not sell real estate
B B B B B B B
B) Active but may not sell real estate
B B B B B B B
C) Expired
B
D) Active and may sell real estate if she pays within 30 days - ANSWER-
B B B B B B B B B B B B B B
B) Active but may not sell real estate
B B B B B B B
All of the following are required to have an active Colorado real estate license EXCEPT
B B B B B B B B B B B B B B
A) An attorney who lists and sells property in addition to practicing law.
B B B B B B B B B B B B
B) A mortgage broker who helps buyers find and buy homes.
B B B B B B B B B B
C) A business opportunity salesperson selling a franchise with a leasehold estate.
B B B B B B B B B B B
D) An attorney selling property as part of an estate. - ANSWER-
B B B B B B B B B B B
D) An attorney selling property as part of an estate.
B B B B B B B B B
Brokers selling real estate must renew their license and errors and omission insurance every
B B B B B B B B B B B B B
A) Three years for the license and every two years for the errors and omissions insurance.
B B B B B B B B B B B B B B B
B) Year for the license and every three years for the errors and omissions insurance.
B B B B B B B B B B B B B B
C) Three years for the license and every year for the errors and omissions insurance.
B B B B B B B B B B B B B B
D) Three years for the license and every three years for the errors and omissions insurance. -
B B B B B B B B B B B B B B B B
ANSWER-
B
C) Three years for the license and every year for the errors and omissions insurance.
B B B B B B B B B B B B B B
A broker associate works for All Star Realty™. The broker must ensure all advertising, including
B B B B B B B B B B B B B B
social media, has the
B B B B
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, A) Firm's trade name at least two times larger than the brokerage's name.
B B B B B B B B B B B B
B) Firm's trade name as registered with the Department of Revenue.
B B B B B B B B B B
C) Broker's name and firm's trade name the same size.
B B B B B B B B B
D) Brokerage's name as registered with the Colorado Real Estate Commission. - ANSWER-
B B B B B B B B B B B B
D) Brokerage's name as registered with the Colorado Real Estate Commission.
B B B B B B B B B B
A Colorado broker associate referred her client to a broker in Florida. The Florida broker called
B B B B B B B B B B B B B B B B
to tell her that the buyer's property in Florida will close soon and she wants to know where to
B B B B B B B B B B B B B B B B B B B
send the referral fee. Which of the following is TRUE about this referral fee?
B B B B B B B B B B B B B
A) The broker associate must deposit the fee into a trust account for holding until after closing.
B B B B B B B B B B B B B B B B
B) The fee must be made payable to the brokerage firm.
B B B B B B B B B B
C) The broker associate does not need to inform anyone of the fee and can deposit it into her p
B B B B B B B B B B B B B B B B B B B
ersonal account. B
D) The broker associate needs to split the fee 50/50 with the brokerage. - ANSWER-
B B B B B B B B B B B B B B
B) The fee must be made payable to the brokerage firm.
B B B B B B B B B B
A broker developed a website to advertise the broker's office with the brokerage's name, locat
B B B B B B B B B B B B B B
ion, and phone number. What additional information does the broker need to include?
B B B B B B B B B B B B
A)Name and address of the home office and the states in which the brokerage holds licenses
B B B B B B B B B B B B B B B
B) License number of the brokerage and list of current active licensees
B B B B B B B B B B B
C) Names of active licensees, addresses, and phone numbers
B B B B B B B B
D) No need for any additional disclosures - ANSWER-
B B B B B B B B
D) No need for any additional disclosures
B B B B B B
As part of the requirement to supervise all associate brokers in the firm, the employing broker
B B B B B B B B B B B B B B B B
would be required to do all of the following EXCEPT
B B B B B B B B B
A) Review all real estate contracts brought to the firm by all associate brokers.
B B B B B B B B B B B B B
B) Attend, or have a qualified broker attend, all listing appointments, showings, and closings of
B B B B B B B B B B B B B B
any newly licensed broker associate for the first month of licensure.
B B B B B B B B B B B
C) Have a written office policy that all broker associates must sign stating they have read it and
B B B B B B B B B B B B B B B B B
agree to follow it.
B B B B
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