COLORADO EXAM REAL ESTATE STATE PORTION QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED.| latest update 2024/25|

COLORADO EXAM REAL ESTATE STATE PORTION QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. When must earnest money be deposited? Not later than the third business day after notice to buyer of acceptance. When a real estate broker is preparing a contract for the sale of real estate in respect of when a building permit was issued prior to January 1, 1978, the agreement will be: Void unless a completed Lead-Based Paint Disclosure is completed and signed by both the licensees to the transaction and the seller and buyer prior to the parties signing the contract What amount of personal funds is a Colorado broker permitted to keep in an escrow account? A sufficient amount to maintain the account In the Residential Contract to Buy and Sell Real Estate, the buyer may request review of Common Interest Community Governing Documents and may give written notice to the seller of any unsatisfactory provision and terminate the contract. At any time prior to the Governing Documents and Title objection deadline. In order to become a licensed broker in Colorado, an individual must be AT LEAST: 18 years old The correct disclosure form for a broker to use with a buyer in a transaction-broker relationship is: Definitions of Working Relationships On a September 10th closing, with current property taxes of $2,150, which of the following entries would be appropriate? Seller owes buyer $1484.38. Which of the following transfer of property provisions is NOT found in a Colorado Real Estate Commissionapproved Deed of Trust? 1% interest increase In Colorado, a debt on real estate, evidenced by a principal promissory note, is usually secured by a... Trust Deed. In Colorado, the maximum time a lessor could hold a security deposit is one month after termination of a lease or if specified by the lease not longer than. 60 Days Ownership of subsurface mineral rights: May be held by third parties what is true of Colorado Real Estate Commission standard and approved Exclusive Right to Buy Contract (Buyer Agency)? It must have a definite termination date. It may provide that the broker be compensated at an hourly rate. It may provide that the broker be compensated by the seller. Under the Colorado Fair Housing Act, it is unlawful to discriminate on the basis of: Sexual Orientation The Lead Based Paint Disclosure form MUST be signed by the buyer prior to the buyer's being bound by the contract or the: Contract is void Tenancy at will... Terminates on sale of the property unless otherwise agreed. A broker collects rental for two landlords who own 3 units under a management agreement and also receives earnest money deposits on sales. The broker must maintain at least... Two trust accounts. In the Colorado approved sales contract, the Additional Provisions must contain only: Transaction specific terms A licensee may satisfy all continuing education course requirements by: Taking and passing the Colorado portion of the real estate examination By Statute, payment of the Colorado use tax on the sale of furniture and equipment is the obligation of the: Buyer Which of the following falls within the purview of Commission Rule F? Open Listing. Exchange Contract. Deed of trust. Which of the following closing costs is MOST likely to be the responsibility of the seller? Brokers' compensation A broker who assists one or more parties throughout a contemplated real estate transaction without being an advocate for the interests of any party to such transaction is acting as: A transaction-broker The Colorado Real Estate Commission was formed primarily to... Protect the Public. In Colorado, all unpaid ad valorem taxes become delinquent on: June 16 If a broker measures the property, he/she mus