COLORADO REAL ESTATE EXAM #1 QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GUARANTEED A+

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

The first step a broker must take to change from an agent to a transaction broker to double en
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d the deal is to - ANSWER-
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have permission in writing from the buyer and seller he represents.
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The Change of Status form is a disclosure of the change that has already been agreed to; it doe
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s not give permission. Permission is given in the listing contracts. Disclosing at the end of the C
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ontract to Buy and Sell is also disclosure, not permission. Designated brokerage is not a form o
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f representation.
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The buyer has found a number of items after her inspection that she wants the seller to correc
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t. The next step is for her broker to - ANSWER-
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send an inspection objection form listing the buyer's request.
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When there is an approved form it must be used. The two approved forms for inspections are i
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nspection objection, used to terminate or list what the buyer wants repaired and the inspectio
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n resolution form, used to create a final record of what is to be done and the date by which the
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repairs are to be completed
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Typically, a landlord may withhold a security deposit - ANSWER-
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to cover costs due to damages caused by the tenant.
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Normal wear and tear is never deducted from security deposits.
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In the event a broker asks another broker to attend a closing for them, all the following are cor
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rect EXCEPT - ANSWER-
B B B the other broker must be compensated for their efforts.
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1
Wicky

,There is no "rule" (must) for compensation for one broker helping another. However, the parti
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es represented must receive all the proper documents.
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Once a Notice for Election and Demand has been received, the next step is for the - ANSWER-
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public trustee to advertise the sale.
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The lender does not have title to property. The homeowner can bring the loan current, but do
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es not need to pay off entire loan. A private trustee would be involved in the foreclosure of a
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mortgage and could not issue an Election and Demand, which is used by the public trustee un
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der the non-judicial foreclosure rights.
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If an employing broker of a brokerage firm fails to renew her license - ANSWER-
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all broker associates' licenses within the firm will be inactive.
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There is no "grace period" for renewal, only payment. The Secretary of State does not issue or
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revoke real estate licenses; only the Commission has this power.
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In the Contract to Buy and Sell, if a broker inserted the correct legal description but made an e
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rror in the street address can the property title still be conveyed? - ANSWER-
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Yes, since the street address is simply a reference and the title is conveyed by the legal
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description.



The broker may want to alert all parties to the error and correct it since the address is used in
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a number of documents but the title is conveyed by legal description so there is not an issue w
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ith the deed conveying the property.
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A buyer asks to see a broker's agency listing. The broker must - ANSWER-
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disclose to the buyer his relationship with the seller.
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The broker could not enter into an exclusive relationship with this buyer as he already has an e
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xclusive agency relationship with the seller. Dual agency is not allowed in Colorado.
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2
Wicky

, A listing broker has deleted the holdover clause and inserted language in the additional provisi
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ons which states, "upon termination of the listing, if the property is sold within 90 days the bro
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ker shall receive a full commission." This language is - ANSWER-
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unacceptable and in violation of Commission rules. B B B B B B




Brokers may not remove the holdover period and create an open ended obligation for the sell
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er to pay a commission, even if the broker fails to sell the property.
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A broker hires an unlicensed assistant, which of the following tasks may the assistant NOT do f
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or the broker? - ANSWER-
B B B B Complete and present a CMA to the sellers B B B B B B B




Unlicensed assistants may prepare a CMA but may not present it since the presentation is part
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of the negotiation for the listing.
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If a broker wishes to be the only broker involved in a transaction, thereby "double ending" this
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B sale, she may - ANSWER- B B B B represent both parties as a transaction broker. B B B B B B




Dual agency is not allowed in Colorado. A broker may not represent one party as an agent and
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the other as a transaction broker. The customer position is used if the broker must be the agen
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t for one side.
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A seller wants to accept the buyer's offer and agrees to all dates, deadlines, and prices but nee
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ds to modify the names of the owner since his wife was not on the offer but is on title to the pr
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operty. The listing broker prepares a counter for the seller to sign, in this case the listing broker
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B B - ANSWER- may omit both the date and deadline and price tables.
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Since the only change is the name of the sellers, the broker will only need to put this change in
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to the counter since all other terms carry forward. Putting n/a in the tables would make all dat
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es, deadlines and terms not applicable.
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The date and deadline section of the Contract to Buy and Sell is used to - ANSWER-
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define the dates and deadlines for all sections of the Contract to Buy and Sell.
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3
Wicky