Colorado Real Estate Final National Exam questions and 100% correct answers Colorado Casualty Insurance (Focused exam review) questions and complete correct answers
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Title Theory - correct answer lender owns, borrower has equitable title Hypothecation - correct answer pledging property as collateral for a loan without giving up possession Mortgagee - correct answer Lender Mortgagor - correct answer borrower Non Judicial foreclosure - correct answer *...
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Add to cartTitle Theory - correct answer lender owns, borrower has equitable title Hypothecation - correct answer pledging property as collateral for a loan without giving up possession Mortgagee - correct answer Lender Mortgagor - correct answer borrower Non Judicial foreclosure - correct answer *...
Who of the following is exempt from real estate license law? - correct answer Investors who own 12 investment properties and sell one to an owner-occupant The purpose of the CRE Commission is to... - correct answer Protect the public of the state of CO in real estate matters If a broker is acc...
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Add to cartWho of the following is exempt from real estate license law? - correct answer Investors who own 12 investment properties and sell one to an owner-occupant The purpose of the CRE Commission is to... - correct answer Protect the public of the state of CO in real estate matters If a broker is acc...
In Colorado, the absence of a contrary understanding. It is understood that the seller will deliver a - correct answer General Warranty Deed The Seller's Property Disclosure said the built-in oven was " in working condition," yet it broke a week before closing. According to the Residential Con...
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Add to cartIn Colorado, the absence of a contrary understanding. It is understood that the seller will deliver a - correct answer General Warranty Deed The Seller's Property Disclosure said the built-in oven was " in working condition," yet it broke a week before closing. According to the Residential Con...
Duties of the Colorado Real Estate Commission include all of the following EXCEPT A) Investigation of verified written complaints. B) Approving errors and omissions carriers. C) Creating the Annual Commission Update course each year. D) Hearing disputes between brokers. - correct answer D) Heari...
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Add to cartDuties of the Colorado Real Estate Commission include all of the following EXCEPT A) Investigation of verified written complaints. B) Approving errors and omissions carriers. C) Creating the Annual Commission Update course each year. D) Hearing disputes between brokers. - correct answer D) Heari...
A lender has filed a "Notice of Election and Demand". The sale must take place: No more than 60 days No less than 45 days 75 days No more than 125 days unless agricultural land - correct answer No more than 125 days unless agricultural land Lead‐based paint disclosure is ...
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Add to cartA lender has filed a "Notice of Election and Demand". The sale must take place: No more than 60 days No less than 45 days 75 days No more than 125 days unless agricultural land - correct answer No more than 125 days unless agricultural land Lead‐based paint disclosure is ...
Return of premium - correct answer The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: Foreign or alien - correct answer What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the ins...
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Add to cartReturn of premium - correct answer The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: Foreign or alien - correct answer What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the ins...
the law protects the public in dealing with licensed brokers. - correct answer Colorado real estate law was enacted for what cfc reason? when it is a verified written complaint. - correct answer When will the Real Estate Commission investigate a complaint against a licensee? under Conway-Bogue...
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Add to cartthe law protects the public in dealing with licensed brokers. - correct answer Colorado real estate law was enacted for what cfc reason? when it is a verified written complaint. - correct answer When will the Real Estate Commission investigate a complaint against a licensee? under Conway-Bogue...
How long must a notary retain her journal? - correct answer Ten years. A Colorado notary may perform copy certifications on documents - correct answer From the federal government so long as the document doesn't contain language prohibiting the document from being reproduced. If the notary is ...
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Add to cartHow long must a notary retain her journal? - correct answer Ten years. A Colorado notary may perform copy certifications on documents - correct answer From the federal government so long as the document doesn't contain language prohibiting the document from being reproduced. If the notary is ...
Legal descriptions using the government survey system are NOT generally used in - correct answer the original 13 states. Real property can be converted to personal property by - correct answer severance A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to ...
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Add to cartLegal descriptions using the government survey system are NOT generally used in - correct answer the original 13 states. Real property can be converted to personal property by - correct answer severance A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to ...
Abandonment - correct answer Non-payment of taxes Abstract of title - correct answer A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause - correct answer Upon default, all the principal installments come due to immediately ...
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Add to cartAbandonment - correct answer Non-payment of taxes Abstract of title - correct answer A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause - correct answer Upon default, all the principal installments come due to immediately ...
Traditional Whole Life - correct answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - correct answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortal...
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Add to cartTraditional Whole Life - correct answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - correct answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortal...
The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. ...
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Add to cartThe brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. ...
When performing a scalp analysis, which scalp condition would indicate that a chemical service should NOT be performed? - correct answer Scalp abrasions All of the following are relaxers EXCEPT - correct answer lanthionine relaxers When analyzing the hair before a chemical relaxer, it is neces...
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Add to cartWhen performing a scalp analysis, which scalp condition would indicate that a chemical service should NOT be performed? - correct answer Scalp abrasions All of the following are relaxers EXCEPT - correct answer lanthionine relaxers When analyzing the hair before a chemical relaxer, it is neces...
How often is the Administrator responsible for reviewing the Resident care Policy and procedures - correct answer Annually Occurrence reporting needs to be done in what time frame - correct answer 24 hours How many days is the facility required to provide job specific orientation to new employ...
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Add to cartHow often is the Administrator responsible for reviewing the Resident care Policy and procedures - correct answer Annually Occurrence reporting needs to be done in what time frame - correct answer 24 hours How many days is the facility required to provide job specific orientation to new employ...
Purpose of the Law - correct answer To protect the public of the state of CO in real estate matters Conway-Bogue Decision - correct answer Landmark decision confirming a licensee's right to a limited practice of law Under Conway-Bogue, licensees - correct answer A. Must be connected to the tr...
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Add to cartPurpose of the Law - correct answer To protect the public of the state of CO in real estate matters Conway-Bogue Decision - correct answer Landmark decision confirming a licensee's right to a limited practice of law Under Conway-Bogue, licensees - correct answer A. Must be connected to the tr...
A real estate broker filling out a listing agreement finds that there is not enough room for the legal description. The broker may: - correct answer Attach the legal description as information may be added outside the body of the contract A licensee may accept compensation from: - correct answer ...
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Add to cartA real estate broker filling out a listing agreement finds that there is not enough room for the legal description. The broker may: - correct answer Attach the legal description as information may be added outside the body of the contract A licensee may accept compensation from: - correct answer ...
Conway-Bogue v. Denver Bar court decision determined what? - correct answer It confirmed a limited right for a licensee to practice law by filling in standard contracts in Colorado. Under Conway-Bogue, lisencees must be connected to the ______, must use ______ and approved forms, and may not ____...
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Add to cartConway-Bogue v. Denver Bar court decision determined what? - correct answer It confirmed a limited right for a licensee to practice law by filling in standard contracts in Colorado. Under Conway-Bogue, lisencees must be connected to the ______, must use ______ and approved forms, and may not ____...
Counter Proposal - correct answer -terminates the offer and creates a new one - must be attached to the original offer - the offeree (usually the seller) must sign the counteroffer, does not sign the original offer - the seller mist withdraw counteroffer in order to accept another offer from a di...
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Add to cartCounter Proposal - correct answer -terminates the offer and creates a new one - must be attached to the original offer - the offeree (usually the seller) must sign the counteroffer, does not sign the original offer - the seller mist withdraw counteroffer in order to accept another offer from a di...
If a producer misrepresents a part of a policy, will the Insurer cover a claim made for the misrepresentation? - correct answer Yes, if an agent mistakenly says something untrue about a policy, the company WILL cover the loss b/c the agent legally represents the insurer. The insurer may seek reimbur...
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Add to cartIf a producer misrepresents a part of a policy, will the Insurer cover a claim made for the misrepresentation? - correct answer Yes, if an agent mistakenly says something untrue about a policy, the company WILL cover the loss b/c the agent legally represents the insurer. The insurer may seek reimbur...
The Amend/Extend Contract With Broker is used to change : - correct answer Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - correct answer non-applicable financing conditi...
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Add to cartThe Amend/Extend Contract With Broker is used to change : - correct answer Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - correct answer non-applicable financing conditi...
How long are the terms for members of the Colorado Real Estate Commission? Six Years Three Years Four Years Five Years - correct answer Three Years "The Division has a five-member Commission that meets bi-monthly to conduct rulemaking hearings, make policy decisions, consider licensing matte...
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Add to cartHow long are the terms for members of the Colorado Real Estate Commission? Six Years Three Years Four Years Five Years - correct answer Three Years "The Division has a five-member Commission that meets bi-monthly to conduct rulemaking hearings, make policy decisions, consider licensing matte...
A landlord included a clause in the lease that said the tenant would not hold the landlord liable for personal injury or property damage for any reason. This is considered a(n): recapture clause quiet enjoyment clause exculpatory clause holdover clause - correct answer exculpatory clause T...
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Add to cartA landlord included a clause in the lease that said the tenant would not hold the landlord liable for personal injury or property damage for any reason. This is considered a(n): recapture clause quiet enjoyment clause exculpatory clause holdover clause - correct answer exculpatory clause T...
The federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as: - correct answer Employee's premiums by the employer is deductible to the employer as a business expenditure. What is Medicare? - correct answer A hospital and medical expense in...
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Add to cartThe federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as: - correct answer Employee's premiums by the employer is deductible to the employer as a business expenditure. What is Medicare? - correct answer A hospital and medical expense in...
Forty-one days after a commercial fire policy is issued, the insurer discovers that the insured made false and misleading statements on the application for insurance. In order to cancel the policy, the insurer must give to the insured advance written notice of their intentions at least...? - correct...
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Add to cartForty-one days after a commercial fire policy is issued, the insurer discovers that the insured made false and misleading statements on the application for insurance. In order to cancel the policy, the insurer must give to the insured advance written notice of their intentions at least...? - correct...
Patch test - correct answer Inside of arm, elbow, small area of face and wait 24 hours Allergy Test - correct answer Predisposition Test Occupational Safety and Health Agency (OSHA) - correct answer Regulates employee safety Food and Drug Administration (FDA) - correct answer Testing and ap...
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Add to cartPatch test - correct answer Inside of arm, elbow, small area of face and wait 24 hours Allergy Test - correct answer Predisposition Test Occupational Safety and Health Agency (OSHA) - correct answer Regulates employee safety Food and Drug Administration (FDA) - correct answer Testing and ap...
A dishwasher in a property under contract is listed affirmatively "In Working Condition" on the Seller's Property Disclosure. What must the seller do if the dishwasher fails before closing? - correct answer A. The seller is not responsible since he or she could not have known it would fail. B. T...
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Add to cartA dishwasher in a property under contract is listed affirmatively "In Working Condition" on the Seller's Property Disclosure. What must the seller do if the dishwasher fails before closing? - correct answer A. The seller is not responsible since he or she could not have known it would fail. B. T...
Agent - correct answer Agents are the agents of the insurer Producer - correct answer Usually includes agents and brokers Applicant or proposed insured - correct answer A person applying for insurance Consent - correct answer permission to do something Insurable Interest - correct answer...
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Add to cartAgent - correct answer Agents are the agents of the insurer Producer - correct answer Usually includes agents and brokers Applicant or proposed insured - correct answer A person applying for insurance Consent - correct answer permission to do something Insurable Interest - correct answer...
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