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Colorado Contracts and Regulations
Questions and Answers Latest 2026
A listing broker should do all of the following EXCEPT
Ans: Advise prospective buyers of the lowest price the
seller will accept.
The Conway-Bogue decision Ans: set the degree to which
real estate brokers may practice law.
In order to qualify as an employing broker in Colorado, a
person must have completed _____ Ans: two years of
active licensed experience and complete the Brokerage
Administration course.
The brokerage relationship exists between Ans: The
designated broker and the seller or buyer.
The Colorado REC was created to Ans: protect the public.
In which situation does an individual need a real estate
license? Ans: Neither of the above.
You are a broker associate working under a buyer agency
contract. Your commission will be paid to you by: Ans:
your employing broker.
In Colorado, a broker must retain records for _____ . Ans:
48 months.
© 2025 All rights reserved
, 2 | Page
Which of the following are exempt from the Colorado
Real Estate License Law? Ans: None of these.
License law does NOT govern: Ans: ethical standards.
The broker does NOT owe the following duties: Ans: A
(Seller agent has no duty to investigate the property or
verify statements made by the seller concerning the
property) and C (Buyer agent has no duty to the seller to
investigate the buyer's financial condition or to verify
statements made by the buyer) only.
An applicant for a real estate license with a felony
conviction more than 10 years before the application date
_____ . Ans: is not required to reveal the conviction on the
application.
If at closing, a seller refuses to pay a broker's
commission in full, the broker may rightfully _____ . Ans:
file a claim in small claims court to recover the amount
due.
Employing broker supervision extends to _____ Ans: all
persons working in the firm, licensed and unlicensed.
Before renewing your license on active status every 3
years, you must complete ____ hours of continuing
education. Ans: 24
According to REC rules and regulations, a real estate
licensee should advise _____ . Ans: both a and b
© 2025 All rights reserved
Colorado Contracts and Regulations
Questions and Answers Latest 2026
A listing broker should do all of the following EXCEPT
Ans: Advise prospective buyers of the lowest price the
seller will accept.
The Conway-Bogue decision Ans: set the degree to which
real estate brokers may practice law.
In order to qualify as an employing broker in Colorado, a
person must have completed _____ Ans: two years of
active licensed experience and complete the Brokerage
Administration course.
The brokerage relationship exists between Ans: The
designated broker and the seller or buyer.
The Colorado REC was created to Ans: protect the public.
In which situation does an individual need a real estate
license? Ans: Neither of the above.
You are a broker associate working under a buyer agency
contract. Your commission will be paid to you by: Ans:
your employing broker.
In Colorado, a broker must retain records for _____ . Ans:
48 months.
© 2025 All rights reserved
, 2 | Page
Which of the following are exempt from the Colorado
Real Estate License Law? Ans: None of these.
License law does NOT govern: Ans: ethical standards.
The broker does NOT owe the following duties: Ans: A
(Seller agent has no duty to investigate the property or
verify statements made by the seller concerning the
property) and C (Buyer agent has no duty to the seller to
investigate the buyer's financial condition or to verify
statements made by the buyer) only.
An applicant for a real estate license with a felony
conviction more than 10 years before the application date
_____ . Ans: is not required to reveal the conviction on the
application.
If at closing, a seller refuses to pay a broker's
commission in full, the broker may rightfully _____ . Ans:
file a claim in small claims court to recover the amount
due.
Employing broker supervision extends to _____ Ans: all
persons working in the firm, licensed and unlicensed.
Before renewing your license on active status every 3
years, you must complete ____ hours of continuing
education. Ans: 24
According to REC rules and regulations, a real estate
licensee should advise _____ . Ans: both a and b
© 2025 All rights reserved
