ACTUAL QUESTIONS AND ANSWERS|LATEST
2025/2026|GUARANTEED A+|ACCURATE AND
To whom can a broker offer exclusive agency through the use of the Exclusive Brokerage Listin
B B B B B B B B B B B B B B B
g Addendum to the Exclusive-Right-to-Sell Listing Contract?
B B B B B B
Buyers
Landlords
Sellers
Sellers and landlords - ANSWER-
B B B B Sellers and landlords B B
Exclusive agency through the exclusive brokerage addendum can be offered to both sellers an
B B B B B B B B B B B B B
d landlords.
B
Nick, an independent broker, is being audited by the Colorado Real Estate Commission. Which
B B B B B B B B B B B B B B
of these would NOT be part of the transaction files he provides to CREC?
B B B B B B B B B B B B B
Copies of settlement statements signed by his clients
B B B B B B B
Copies of transaction records that were damaged when the storage room flooded last year, so
B B B B B B B B B B B B B B B
they're only partially legible
B B B
Original or copied forms completed during his transactions that weren't contracts, such as dis
B B B B B B B B B B B B B
closures or reports B B
Printed copies of electronically signed documents, such as listing agreements - ANSWER-
B B B B B B B B B B B
Copies of transaction records that were damaged when the storage room flooded last y
B B B B B B B B B B B B B
ear, so they're only partially legible
B B B B B
Angela greets a consumer who walks into her office looking for real estate services. She revie
B B B B B B B B B B B B B B B
ws the Definitions of Working Relationships disclosure with the consumer, but when she asks t
B B B B B B B B B B B B B B
1
Wicky
,he consumer to sign the form, he politely says, "No, thank you. I have a couple more licensees
B B B B B B B B B B B B B B B B B B
to talk to." What should Angela do?
B B B B B B
Alert other licensees in the area about the consumer.
B B B B B B B B
Note the date and consumer's refusal to sign and retain for her records.
B B B B B B B B B B B B
Refuse to let the consumer leave without a signature.
B B B B B B B B
Thank the consumer and put the unsigned form away. - ANSWER-
B B B B B B B B B B
Note the date and consumer's refusal to sign and retain for her records.
B B B B B B B B B B B B
Which of the following statements is true of the Definitions of Working Relationships docume
B B B B B B B B B B B B B
nt?
It describes how the commission oversees real estate licensees.
B B B B B B B B
It describes the relationship between the broker and licensee.
B B B B B B B B
It describes the relationships a consumer could have with a licensee.
B B B B B B B B B B
It's a legal, binding contract. - ANSWER-
B B B B B B
It describes the relationships a consumer could have with a licensee.
B B B B B B B B B B
You have exclusive agency agreements with a seller and a buyer who are now part of the same
B B B B B B B B B B B B B B B B B
transaction. You present the Colorado Change of Status form to them and they acknowledge r
B B B B B B B B B B B B B B B
eceipt of the disclosure. Based on this information, which of the following statements is true?
B B B B B B B B B B B B B B
Going forward, you must act as a transaction-
B B B B B B B
broker for any other transactions involving this seller or buyer.
B B B B B B B B B
The change of agency relationship between you and the seller and you and the buyer is for thi
B B B B B B B B B B B B B B B B B
s transaction only.
B B
You'll be an agent for one of the parties and a transaction-broker for the other.
B B B B B B B B B B B B B B
Your brokerage firm will designate two brokers to take your place in the transaction. -
B B B B B B B B B B B B B B
ANSWER-
B
The change of agency relationship between you and the seller and you and the buyer is
B B B B B B B B B B B B B B B B
for this transaction only.
B B B
2
Wicky
,You're working with a buyer, Lucy, as Lucy's transaction-
B B B B B B B B
broker. Which action is NOT your obligation in this situation?
B B B B B B B B B
"I'll attend the closing with you and provide you with a closing statement that shows the amou
B B B B B B B B B B B B B B B B
nt of funds you'll need to bring."
B B B B B B
"I'll help you write up your offer for this property and present it to the seller's agent."
B B B B B B B B B B B B B B B B
"I think you could offer less than the list price, if we also offer some seller-
B B B B B B B B B B B B B B B
favorable terms. Do you want to start there and see how close we can get to your preferred pri
B B B B B B B B B B B B B B B B B B
ce and terms?"
B B
"I've listed a couple houses in this neighborhood before, and I do know that some people have
B B B B B B B B B B B B B B B B
had issues with basement leaks when there's a heavy rain, so make - ANSWER-
B B B B B B B B B B B B B B
"I think you could offer less than the list price, if we also offer some seller-
B B B B B B B B B B B B B B B
favorable terms. Do you want to start there and see how close we can get to your preferred pri
B B B B B B B B B B B B B B B B B B
ce and terms?"
B B
A transaction-
B
broker is obligated to perform statutory uniform duties for a consumer, but only agents perfor
B B B B B B B B B B B B B B
m additional duties, which include seeking a price and terms acceptable to the client.
B B B B B B B B B B B B B
If a broker can't make it to a closing and delegates another licensee to attend, who's responsib
B B B B B B B B B B B B B B B B
le for the accuracy of the closing statement?
B B B B B B B
Both the broker and the delegate
B B B B B
The broker B
The broker's delegate
B B
The employing broker - ANSWER-
B B B B Both the broker and the delegate
B B B B B
Associate broker Doug's unlicensed assistant, Fred, is the best hiring decision Doug ever made
B B B B B B B B B B B B B
. Doug gets twice as much done with his help. He's so efficient that Doug gets a little careless a
B B B B B B B B B B B B B B B B B B B
bout supervising his work, and one day it turns out that Fred's been embezzling funds from a b
B B B B B B B B B B B B B B B B B
rokerage account. Is Doug at fault? B B B B B
3
Wicky
, No, as long as he was unaware of his assistant's actions.
B B B B B B B B B B
No, since Doug isn't an employing broker he can't be held responsible for his assistant's action
B B B B B B B B B B B B B B B
s.
Yes, Colorado licensees are prohibited from employing unlicensed personal assistants.
B B B B B B B B B
Yes, Doug can be held legally liable for his employee's actions. - ANSWER-
B B B B B B B B B B B B
Yes, Doug can be held legally liable for his employee's actions.
B B B B B B B B B B
When you're calculating the amount of property taxes that will be prorated at closing, which o
B B B B B B B B B B B B B B B
f these is the appropriate method?
B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (seller owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a statutory year of 360 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a statutory year of 360 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (seller owns day of closing). - ANSWER-
B B B B B B B B B B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the
B B B B B B B B B B B B B B B B B B
number of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Which of the following contract options indicates a Colorado buyer's willingness to pay any a
B B B B B B B B B B B B B B
mount of commission that is not paid by the seller or seller's broker?
B B B B B B B B B B B B
Buyer Will Pay.
B B
Listing Brokerage Firm or Seller May Pay. Buyer is NOT Obligated to Pay.
B B B B B B B B B B B B
Listing Brokerage Firm or Seller May Pay. Buyer IS Obligated to Pay.
B B B B B B B B B B B
Not Applicable. - ANSWER-
B B B
Listing Brokerage Firm or Seller May Pay. Buyer IS Obligated to Pay.
B B B B B B B B B B B
4
Wicky
2025/2026|GUARANTEED A+|ACCURATE AND
To whom can a broker offer exclusive agency through the use of the Exclusive Brokerage Listin
B B B B B B B B B B B B B B B
g Addendum to the Exclusive-Right-to-Sell Listing Contract?
B B B B B B
Buyers
Landlords
Sellers
Sellers and landlords - ANSWER-
B B B B Sellers and landlords B B
Exclusive agency through the exclusive brokerage addendum can be offered to both sellers an
B B B B B B B B B B B B B
d landlords.
B
Nick, an independent broker, is being audited by the Colorado Real Estate Commission. Which
B B B B B B B B B B B B B B
of these would NOT be part of the transaction files he provides to CREC?
B B B B B B B B B B B B B
Copies of settlement statements signed by his clients
B B B B B B B
Copies of transaction records that were damaged when the storage room flooded last year, so
B B B B B B B B B B B B B B B
they're only partially legible
B B B
Original or copied forms completed during his transactions that weren't contracts, such as dis
B B B B B B B B B B B B B
closures or reports B B
Printed copies of electronically signed documents, such as listing agreements - ANSWER-
B B B B B B B B B B B
Copies of transaction records that were damaged when the storage room flooded last y
B B B B B B B B B B B B B
ear, so they're only partially legible
B B B B B
Angela greets a consumer who walks into her office looking for real estate services. She revie
B B B B B B B B B B B B B B B
ws the Definitions of Working Relationships disclosure with the consumer, but when she asks t
B B B B B B B B B B B B B B
1
Wicky
,he consumer to sign the form, he politely says, "No, thank you. I have a couple more licensees
B B B B B B B B B B B B B B B B B B
to talk to." What should Angela do?
B B B B B B
Alert other licensees in the area about the consumer.
B B B B B B B B
Note the date and consumer's refusal to sign and retain for her records.
B B B B B B B B B B B B
Refuse to let the consumer leave without a signature.
B B B B B B B B
Thank the consumer and put the unsigned form away. - ANSWER-
B B B B B B B B B B
Note the date and consumer's refusal to sign and retain for her records.
B B B B B B B B B B B B
Which of the following statements is true of the Definitions of Working Relationships docume
B B B B B B B B B B B B B
nt?
It describes how the commission oversees real estate licensees.
B B B B B B B B
It describes the relationship between the broker and licensee.
B B B B B B B B
It describes the relationships a consumer could have with a licensee.
B B B B B B B B B B
It's a legal, binding contract. - ANSWER-
B B B B B B
It describes the relationships a consumer could have with a licensee.
B B B B B B B B B B
You have exclusive agency agreements with a seller and a buyer who are now part of the same
B B B B B B B B B B B B B B B B B
transaction. You present the Colorado Change of Status form to them and they acknowledge r
B B B B B B B B B B B B B B B
eceipt of the disclosure. Based on this information, which of the following statements is true?
B B B B B B B B B B B B B B
Going forward, you must act as a transaction-
B B B B B B B
broker for any other transactions involving this seller or buyer.
B B B B B B B B B
The change of agency relationship between you and the seller and you and the buyer is for thi
B B B B B B B B B B B B B B B B B
s transaction only.
B B
You'll be an agent for one of the parties and a transaction-broker for the other.
B B B B B B B B B B B B B B
Your brokerage firm will designate two brokers to take your place in the transaction. -
B B B B B B B B B B B B B B
ANSWER-
B
The change of agency relationship between you and the seller and you and the buyer is
B B B B B B B B B B B B B B B B
for this transaction only.
B B B
2
Wicky
,You're working with a buyer, Lucy, as Lucy's transaction-
B B B B B B B B
broker. Which action is NOT your obligation in this situation?
B B B B B B B B B
"I'll attend the closing with you and provide you with a closing statement that shows the amou
B B B B B B B B B B B B B B B B
nt of funds you'll need to bring."
B B B B B B
"I'll help you write up your offer for this property and present it to the seller's agent."
B B B B B B B B B B B B B B B B
"I think you could offer less than the list price, if we also offer some seller-
B B B B B B B B B B B B B B B
favorable terms. Do you want to start there and see how close we can get to your preferred pri
B B B B B B B B B B B B B B B B B B
ce and terms?"
B B
"I've listed a couple houses in this neighborhood before, and I do know that some people have
B B B B B B B B B B B B B B B B
had issues with basement leaks when there's a heavy rain, so make - ANSWER-
B B B B B B B B B B B B B B
"I think you could offer less than the list price, if we also offer some seller-
B B B B B B B B B B B B B B B
favorable terms. Do you want to start there and see how close we can get to your preferred pri
B B B B B B B B B B B B B B B B B B
ce and terms?"
B B
A transaction-
B
broker is obligated to perform statutory uniform duties for a consumer, but only agents perfor
B B B B B B B B B B B B B B
m additional duties, which include seeking a price and terms acceptable to the client.
B B B B B B B B B B B B B
If a broker can't make it to a closing and delegates another licensee to attend, who's responsib
B B B B B B B B B B B B B B B B
le for the accuracy of the closing statement?
B B B B B B B
Both the broker and the delegate
B B B B B
The broker B
The broker's delegate
B B
The employing broker - ANSWER-
B B B B Both the broker and the delegate
B B B B B
Associate broker Doug's unlicensed assistant, Fred, is the best hiring decision Doug ever made
B B B B B B B B B B B B B
. Doug gets twice as much done with his help. He's so efficient that Doug gets a little careless a
B B B B B B B B B B B B B B B B B B B
bout supervising his work, and one day it turns out that Fred's been embezzling funds from a b
B B B B B B B B B B B B B B B B B
rokerage account. Is Doug at fault? B B B B B
3
Wicky
, No, as long as he was unaware of his assistant's actions.
B B B B B B B B B B
No, since Doug isn't an employing broker he can't be held responsible for his assistant's action
B B B B B B B B B B B B B B B
s.
Yes, Colorado licensees are prohibited from employing unlicensed personal assistants.
B B B B B B B B B
Yes, Doug can be held legally liable for his employee's actions. - ANSWER-
B B B B B B B B B B B B
Yes, Doug can be held legally liable for his employee's actions.
B B B B B B B B B B
When you're calculating the amount of property taxes that will be prorated at closing, which o
B B B B B B B B B B B B B B B
f these is the appropriate method?
B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (seller owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a statutory year of 360 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Determine a daily rate based on a statutory year of 360 days, then apply the rate to the numbe
B B B B B B B B B B B B B B B B B B
r of days the seller owns the property (seller owns day of closing). - ANSWER-
B B B B B B B B B B B B B B
Determine a daily rate based on a calendar year of 365 days, then apply the rate to the
B B B B B B B B B B B B B B B B B B
number of days the seller owns the property (buyer owns day of closing).
B B B B B B B B B B B B
Which of the following contract options indicates a Colorado buyer's willingness to pay any a
B B B B B B B B B B B B B B
mount of commission that is not paid by the seller or seller's broker?
B B B B B B B B B B B B
Buyer Will Pay.
B B
Listing Brokerage Firm or Seller May Pay. Buyer is NOT Obligated to Pay.
B B B B B B B B B B B B
Listing Brokerage Firm or Seller May Pay. Buyer IS Obligated to Pay.
B B B B B B B B B B B
Not Applicable. - ANSWER-
B B B
Listing Brokerage Firm or Seller May Pay. Buyer IS Obligated to Pay.
B B B B B B B B B B B
4
Wicky
