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

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

Licenses must be renewed every: - ANSWER-
B B B B B B



3 years. All licenses expire on December 31 of the third year
B B B B B B B B B B B




To have their licenses renewed, brokers must complete 24 hours of continuing education: -
B B B B B B B B B B B B B



ANSWER-
B



12 hours of continuing education must be the Commission's Annual Commission Updat
B B B B B B B B B B B



e (ACU) course
B B




-
the additional 12 hours can be electives, the National Association of Realtors (NAR) Ethics clas
B B B B B B B B B B B B B B



s (4hrs) for example, are used for the remaining continuing education requirement
B B B B B B B B B B B




Brokers may take and pass only the: - ANSWER-
B B B B B B B B



Colorado State portion of the licensing exam, which counts for all 24 hours in a 3-
B B B B B B B B B B B B B B B



year renewal cycle B B




Brokers only have to take ______ once - ANSWER-
B B B B B B B B national exam B




A licensee who has completed all CE but does not renew a license on the anniversary date: -
B B B B B B B B B B B B B B B B B



ANSWER-
B



will have an active license but may not practice real estate or receive a commission unti
B B B B B B B B B B B B B B B



l the fee is paid
B B B B




The licensee has ____ after the anniversary date to pay without penalty - ANSWER-
B B B B B B B B B B B B B



31 days B




After _______, the licensee will have to pay the renewal fee plus a reinstatement fee of one-
B B B B B B B B B B B B B B B B



half of the renewal fee. - ANSWER-
B B B B B B 32 days B




1
Wicky

,If a licensee lets their license lapse, then the licensee must: - ANSWER-
B B B B B B B B B B B B



take a reactivation course or go back to real estate school in order to pass BOTH the Col
B B B B B B B B B B B B B B B B B



orado and national portions of the state exam
B B B B B B B




Non-resident licensees must: - ANSWER- B B B B -have an office in their home state
B B B B B B




-agree to keep all trust funds in a Colorado depository/bank
B B B B B B B B B




-accept legal action in Colorado
B B B B




Who does NOT need a real estate license when practicing real estate transactions? - ANSWER-
B B B B B B B B B B B B B B



-A corporate employing leasing mineral rights!!
B B B B B




-A corporation buying and selling real estate!!
B B B B B B




-A public official in the conduct of the official's duties (public trustee)
B B B B B B B B B B B




-Persons acting on their own behalf (for sale by owner/seller)
B B B B B B B B B




-
A regularly salaried employee of the owner of an apartment building or complex acting as an o
B B B B B B B B B B B B B B B B



n-site manager B




Must have a real estate broker license if: - ANSWER-
B B B B B B B B B



the transfer involves the sale of real estate or transfer of a lease interest
B B B B B B B B B B B B B




---Like all listings, must have a definite termination date!!!!
B B B B B B B B




A real estate broker license is required to sell: - ANSWER-
B B B B B B B B B B Real estate options B B




-Employees of corporations selling options do not need a real estate license
B B B B B B B B B B B




To sell real estate securities, - ANSWER-
B B B B B B A securities license is required
B B B B




Individual licensees and their employing broker must notify the Commission if: - ANSWER-
B B B B B B B B B B B B



the licensee changes firms
B B B




2
Wicky

,If a brokerage firm changes its address/business location without notification to the Commissi
B B B B B B B B B B B B



on, - ANSWER-
B B



It will inactivate all licensees, even if an individual licensee notified the Commission
B B B B B B B B B B B B




Inactive licensees MAY NOT perform any activities requiring a license: - ANSWER-
B B B B B B B B B B B -
Inactive brokers do not need an office or errors and omissions insurance
B B B B B B B B B B B




-Inactive brokers may perform unlicensed duties, such as on-
B B B B B B B B



site property management or salaried new home sales
B B B B B B B




Temporary Hardship License: - ANSWER- B B B B



A corporation of other business entity wishing to act as a brokerage must appoint a qua
B B B B B B B B B B B B B B B



lified broker to represent the firm as the principal (employing) broker.
B B B B B B B B B B




-
If the qualified broker cannot continue in that position and no other qualified broker is availabl
B B B B B B B B B B B B B B B



e, the Real Estate Commission may issue a temporary hardship license to any active Colorado
B B B B B B B B B B B B B B B



broker for up to 90 days until a fully qualified broker can be found
B B B B B B B B B B B B B




The person who is given the hardship license must: - ANSWER-
B B B B B B B B B B



have a broker's license with at least two years of active experience
B B B B B B B B B B B




A sole proprietor brokerage cannot receive a: - ANSWER-
B B B B B B B B



hardship license, because only the sole proprietor may function as the principal broker
B B B B B B B B B B B B




Errors and omissions insurance - ANSWER-
B B - B B B



Required for licensed corporations and limited liability companies
B B B B B B B




-
Not required for inactive licensees, partnerships buying their own real estate, or utility compa
B B B B B B B B B B B B B



nies buying right-of-ways
B B




-
Claims are not reported to the Commission, but the Commission must approve the insurance
B B B B B B B B B B B B B B



company

----*MUST be renewed every year on December 31!!!!!*
B B B B B B B




3
Wicky

, Brokerage firms and brokers have a continuing duty to: - ANSWER-
B B B B B B B B B B



disclose, in writing, any known conflict of interest that may arise in the course of any re
B B B B B B B B B B B B B B B B



al estate transaction
B B




The brokerage firm's name, as registered with the commission, MUST: - ANSWER-
B B B B B B B B B B B



appear on all advertising. B B B B




-
A broker associate's name, phone number, email, or other identifying items are allowed but *
B B B B B B B B B B B B B B



not* required B




Reasonable level supervision - ANSWER- B B B B



Brokers with 2 or more years of active experience
B B B B B B B B




-Must be provided a brokerage firm office manual that must be received, read, and signed.
B B B B B B B B B B B B B B B




-
The written office manual must have a method for designating brokers and what brokerage rel
B B B B B B B B B B B B B B



ationships are allowed to be offered in the brokerage firm.
B B B B B B B B B B




-In addition, all contracts must be reviewed.
B B B B B B




High level supervision - ANSWER-
B B B B Brokers with less than 2 years of experience
B B B B B B B




-
Attending, training, or being available to answer questions for all closings. It does not require
B B B B B B B B B B B B B B B



attending brokers' meetings with clients or mentoring them
B B B B B B B




An employing broker who is leaving town or otherwise not able to personally supervise may: -
B B B B B B B B B B B B B B B



ANSWER-
B



delegate supervisory authority to another qualified broker, not an unlicensed individua
B B B B B B B B B B



l, such as an office manager.
B B B B B




Independent contractor - ANSWER- B B B -No income taxes or payroll taxes are withheld
B B B B B B B B




**-MUST have a signed independent contractor agreement***
B B B B B B




-No set schedule or paid vacations
B B B B B




4
Wicky