COLORADO REAL ESTATE EXAM PREP #2|QUESTIONS WITH VERIFIED ANSWERS|LATEST 2025/2026|GRADED A+

COLORADO REAL ESTATE EXAM PREP
#2|QUESTIONS WITH VERIFIED
ANSWERS|LATEST 2025/2026|GRADED A+

A buyer creates liquidated damages in the sales contract by - ANSWER-
B B B B B B B B B B B



Doing nothing, the contract will default to liquidated damages
B B B B B B B B




Colorado Common Interest Ownership Act requires: - ANSWER-
B B B B B B B



real property to be described in a declaration which obligates an individual unit owner t
B B B B B B B B B B B B B B



o pay property tax, ins. premiums, maintenance or improvement on some declared real prope
B B B B B B B B B B B B B



rty owned in common
B B B




When legal complications in a sales contract are beyond the expertise of the broker, the broke
B B B B B B B B B B B B B B B



r should always seek assistance from: - ANSWER-
B B B B B B B an attorney
B




How many days prior to the foreclosure sale must a delinquent trustor give written notice of hi
B B B B B B B B B B B B B B B B



s/her intent to cure? - ANSWER-
B B B B B 15 days B




You may refuse rental housing to - ANSWER-
B B B B B B B A person addicted to or using illegal drugs
B B B B B B B




Select the party responsible for an accurate, complete and detailed closing statement. -
B B B B B B B B B B B B



B ANSWER- The individual license holder
B B B




Rule F allows for all of the following, EXCEPT: - ANSWER-
B B B B B B B B B B



An addendum to be included within the body of a Commission-approved form
B B B B B B B B B B B




A broker who intends to mark-
B B B B B



up or add fees for services performed on behalf of a client by any third party or affiliated busin
B B B B B B B B B B B B B B B B B B



ess entity is NOT required to: - ANSWER-
B B B B B B B



Use the appropriate form to notify the Real Estate Commission
B B B B B B B B B




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Wicky

, A "Licensee Buy-Out Addendum" signed by the listing brokerage firm's supervising broker -
B B B B B B B B B B B B



B ANSWER- binds the firm and buyer broker to the buy-out addendum
B B B B B B B B B




Unlicensed personal assistant may do all of the following EXCEPT - ANSWER-
B B B B B B B B B B B



Explain the reasons behind the pricing of a property.
B B B B B B B B




A broker is listing a property that has a well. What specific action does the seller have to take t
B B B B B B B B B B B B B B B B B B B



o make sure that the well is transferred? Seller must provide the Source of Water Disclosure fo
B B B B B B B B B B B B B B B B



rm to the buyer - ANSWER-
B B B B B



Seller must provide the Source of Water Disclosure form to the buyer
B B B B B B B B B B B




Closing statements must be received - ANSWER-
B B B B B B At closing.
B




The title commitment lists a number of standard exceptions, if the buyer obtains an owner's c
B B B B B B B B B B B B B B B



overage policy this means the standard exceptions - ANSWER-
B B B B B B B B



should be verified as removed by the buyer
B B B B B B B




Per the current Contract-to-Buy-and-Sell, the title company is chosen and paid for by -
B B B B B B B B B B B B B



B ANSWER- Either the buyer or seller B B B B




A buyer's broker has made an offer using the Contract-to-Buy-and-
B B B B B B B B B



Sell and has inserted a "standard" list of due diligence documents the seller is to supply the bu
B B B B B B B B B B B B B B B B B B



yer. A number of the items are not applicable to the transaction or the seller does not have the
B B B B B B B B B B B B B B B B B B



documents. The best way for the seller and listing broker to deal with the document would be
B B B B B B B B B B B B B B B B B



B to - ANSWER-
B B counter the offer and remove the documents the seller does not have.
B B B B B B B B B B B




The MINIMUM time allotted for the sale of an agricultural property, through the Public Truste
B B B B B B B B B B B B B B



e's office after filing of the notice of election and demand (NED) to foreclose is: - ANSWER-
B B B B B B B B B B B B B B B B



215 days B




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Wicky