Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: homeowner's options as to dates for general ad valorem property taxes payment
Answer:
if in 2
halves - end of february and june 15
if 1 payment - end of april
Q: transaction broker
Answer:
non-agent, no fiduciary relationship, acting as an intermediary facilitator
to one of both parties to a transaction
Q: how many hours of continuing ed required for each 3 year renewal
Answer:
24 hours of commission
approved ce courses.
this includes at least 3 4-hour annual update courses within each 3 years
,Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: what must a licensee do if he terminates employment with broker?
Answer:
joint duty of both parties to immediately notify the RE commission in writing of the
termination
Q: When a licensee sells, buys, or leases real property on his own account, what
must he do?
Answer:
it must be disclosed in the contract itself or in separate writing that he/she has a real
estate license
Q: purpose of Colorado RE license law
Answer:
to protect the people of the state of CO
,Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: any change in a business address by a licensee requires what action?
Answer:
licensee must notify the RE commission in writing of any changes in business
address or the license will be placed on inactive status
Q: how is a brokerage firm's commission determined?
Answer:
compensation is determined by
Q: limited agent
Answer:
does only what statute allows, any additional duties must be in writing
Q: limited agents cannot tell people what choice they should make, only help
people make
Answer:
informed decisions
, Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Under the CBS, who bears the risk of damage by fire or other casualty prior to
time of closing?
Answer:
to repair the damage before closing If the damage cannot be repaired before closing,
or if the damage exceeds 10% of the purchase price, the contract can be cancelled at
option of purchaser
Q: Definitions of Working Relationship
Answer:
not a disclosure
Q: May an exclusive right to sell listing be altered to create an open listing or
exclusive agency contract?
Answer:
To create either an exclusive brokerage or open listing, attach the appropriate
commission approved addendum to the exclusive right to sell listing contract
Latest 2026 Update
Q: homeowner's options as to dates for general ad valorem property taxes payment
Answer:
if in 2
halves - end of february and june 15
if 1 payment - end of april
Q: transaction broker
Answer:
non-agent, no fiduciary relationship, acting as an intermediary facilitator
to one of both parties to a transaction
Q: how many hours of continuing ed required for each 3 year renewal
Answer:
24 hours of commission
approved ce courses.
this includes at least 3 4-hour annual update courses within each 3 years
,Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: what must a licensee do if he terminates employment with broker?
Answer:
joint duty of both parties to immediately notify the RE commission in writing of the
termination
Q: When a licensee sells, buys, or leases real property on his own account, what
must he do?
Answer:
it must be disclosed in the contract itself or in separate writing that he/she has a real
estate license
Q: purpose of Colorado RE license law
Answer:
to protect the people of the state of CO
,Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: any change in a business address by a licensee requires what action?
Answer:
licensee must notify the RE commission in writing of any changes in business
address or the license will be placed on inactive status
Q: how is a brokerage firm's commission determined?
Answer:
compensation is determined by
Q: limited agent
Answer:
does only what statute allows, any additional duties must be in writing
Q: limited agents cannot tell people what choice they should make, only help
people make
Answer:
informed decisions
, Colorado Real Estate Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Under the CBS, who bears the risk of damage by fire or other casualty prior to
time of closing?
Answer:
to repair the damage before closing If the damage cannot be repaired before closing,
or if the damage exceeds 10% of the purchase price, the contract can be cancelled at
option of purchaser
Q: Definitions of Working Relationship
Answer:
not a disclosure
Q: May an exclusive right to sell listing be altered to create an open listing or
exclusive agency contract?
Answer:
To create either an exclusive brokerage or open listing, attach the appropriate
commission approved addendum to the exclusive right to sell listing contract
