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Colorado Law and Practice - Practice Test
Exam Questions And Answers 100% Pass
The broker who has listed a property for sale, has the obligation to __________ - ANS do
whatever the owner has instructed him to do legally.
Two brokers agree to use the same listing fees to stop undercutting each other's profit margins.
Such an agreement - ANS violates the Sherman Anti-Trust Act.
Agency may be established: - ANS by implication (what you might say or do) without a
written contract
The essential elements of a contract include all of the following EXCEPT: - ANS Notarized
signatures.
The terms of an agreement in which a seller withdraws his property from the market for a
specified time and a certain price, but grants a person the right to purchase at a fixed sale price,
would best be accomplished through a(n) - ANS Option.
Property management agreements should include the following: - ANS Description of trust
accounts.
If a borrower must pay one discount point on a $250,000 loan, the charge will be: -
ANS $2,500
, ©EVERLY 2025 ALL RIGHTS RESERVED
When appraising a residential property, an appraiser would be LEAST concerned with: -
ANS the cost to replace the building.
The Rural Economic and Community Development is: - ANS A and B only.
Obedience of the agent to the principal means that: - ANS the agent must follow those
instructions regardless of personal feelings about them, as long as they do not violate the state
or federal laws.
A competent and impartial person authorized by another person to sign a contract of sale is
most likely a(n): - ANS Attorney in fact.
A perperty management agreement would have all EXCEPT: - ANS statement of lessee's
purpose.
Which BEST describes the role of a fiduciary? - ANS A fiduciary relationship is established
when a property manager agrees to represent an owner in leasing the owner's property.
The benefit, interest or value that induces a promise in a contract is a(n): -
ANS consideration.
Under the Federal Fair Housing Amendments of 1998, which of the following is the BEST
example of the familial status protected class? - ANS A single person seeking legal
guardianship of a 15 year old.
At the moment of mutual execution of a sales contract, the buyer - ANS acquires equitable
title.
The leasehold estate most commonly used by property managers is an estate: - ANS for
years.
Colorado Law and Practice - Practice Test
Exam Questions And Answers 100% Pass
The broker who has listed a property for sale, has the obligation to __________ - ANS do
whatever the owner has instructed him to do legally.
Two brokers agree to use the same listing fees to stop undercutting each other's profit margins.
Such an agreement - ANS violates the Sherman Anti-Trust Act.
Agency may be established: - ANS by implication (what you might say or do) without a
written contract
The essential elements of a contract include all of the following EXCEPT: - ANS Notarized
signatures.
The terms of an agreement in which a seller withdraws his property from the market for a
specified time and a certain price, but grants a person the right to purchase at a fixed sale price,
would best be accomplished through a(n) - ANS Option.
Property management agreements should include the following: - ANS Description of trust
accounts.
If a borrower must pay one discount point on a $250,000 loan, the charge will be: -
ANS $2,500
, ©EVERLY 2025 ALL RIGHTS RESERVED
When appraising a residential property, an appraiser would be LEAST concerned with: -
ANS the cost to replace the building.
The Rural Economic and Community Development is: - ANS A and B only.
Obedience of the agent to the principal means that: - ANS the agent must follow those
instructions regardless of personal feelings about them, as long as they do not violate the state
or federal laws.
A competent and impartial person authorized by another person to sign a contract of sale is
most likely a(n): - ANS Attorney in fact.
A perperty management agreement would have all EXCEPT: - ANS statement of lessee's
purpose.
Which BEST describes the role of a fiduciary? - ANS A fiduciary relationship is established
when a property manager agrees to represent an owner in leasing the owner's property.
The benefit, interest or value that induces a promise in a contract is a(n): -
ANS consideration.
Under the Federal Fair Housing Amendments of 1998, which of the following is the BEST
example of the familial status protected class? - ANS A single person seeking legal
guardianship of a 15 year old.
At the moment of mutual execution of a sales contract, the buyer - ANS acquires equitable
title.
The leasehold estate most commonly used by property managers is an estate: - ANS for
years.
