COLORADO REAL ESTATE ACTUAL
PRACTICE EXAM PAPER 2026 COMPLETE
QUESTIONS AND VERIFIED SOLUTIONS
GRADED A+
⩥ What are the exceptions of records that must be kept on file by the
brokerage firm? Answer: Promissory notes and recorded documents
such as deeds of trust that are prepared by or for 3rd parties
⩥ If you can not make it to your closing, and the employing broker asks
another associate to attend for you. Who is responsible for the proper
closing? Answer: You are!
⩥ May a licensee take compensation from a lender? Answer: Only if
there is written consent from buyer and seller and RESPA is NOT
involved
⩥ If a complaint or audit is received from a the Real Estate Commission,
how many days does the licensee have to respond? Answer: 14 and must
be in writing
⩥ Settlement Service Provider Answer: An individual or firm that
handles the facilitation of closings.
, ⩥ Supervision by an employing broker of a licensee that has over 2
years of experience/
less than 2 years of experience... Answer: over - 'reasonable'
less than - 'high level'
⩥ How long does a licensee have to notify the Commission regarding a
plea of guilt, nolo contendere, or conviction of any crime? Answer: 30
days
⩥ Designated Broker Answer: Designated by the employing broker to
act as either a single agent or transaction-broker to a party
but does NOT apply to personal, in-company brokerage
⩥ Office Policy Manual Answer: when a licensee signs a listing
contract, it often, satisfies the statute of the office policy manual
regarding the designation of the designated broker
⩥ If you are in a default brokerage relationship, what kind of real estate
relationship are you in? Answer: Transaction Broker
⩥ You can only be a _____________________ through a listing OR
disclosure
You can only be a ____________________ through a listing Answer:
transaction broker
PRACTICE EXAM PAPER 2026 COMPLETE
QUESTIONS AND VERIFIED SOLUTIONS
GRADED A+
⩥ What are the exceptions of records that must be kept on file by the
brokerage firm? Answer: Promissory notes and recorded documents
such as deeds of trust that are prepared by or for 3rd parties
⩥ If you can not make it to your closing, and the employing broker asks
another associate to attend for you. Who is responsible for the proper
closing? Answer: You are!
⩥ May a licensee take compensation from a lender? Answer: Only if
there is written consent from buyer and seller and RESPA is NOT
involved
⩥ If a complaint or audit is received from a the Real Estate Commission,
how many days does the licensee have to respond? Answer: 14 and must
be in writing
⩥ Settlement Service Provider Answer: An individual or firm that
handles the facilitation of closings.
, ⩥ Supervision by an employing broker of a licensee that has over 2
years of experience/
less than 2 years of experience... Answer: over - 'reasonable'
less than - 'high level'
⩥ How long does a licensee have to notify the Commission regarding a
plea of guilt, nolo contendere, or conviction of any crime? Answer: 30
days
⩥ Designated Broker Answer: Designated by the employing broker to
act as either a single agent or transaction-broker to a party
but does NOT apply to personal, in-company brokerage
⩥ Office Policy Manual Answer: when a licensee signs a listing
contract, it often, satisfies the statute of the office policy manual
regarding the designation of the designated broker
⩥ If you are in a default brokerage relationship, what kind of real estate
relationship are you in? Answer: Transaction Broker
⩥ You can only be a _____________________ through a listing OR
disclosure
You can only be a ____________________ through a listing Answer:
transaction broker
