COLORADO REAL ESTATE TEST 10 |
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
,Loan fraud can have the following results to a real estate D. no action taken
licensee except:
A. criminal action filed in criminal court
B. disbarred by HUD from all federal programs
C. end of a career in real estate
D. no action taken
The maximum amount of days that can be specified in the D. negotiable by Seller and Broker
Holdover Period in the Listing Contract is:
A. 30 days
B. 60 days
C. 90 days
D. negotiable by Seller and Broker
On a new loan closing, the settlement worksheet entry for a A. Withholding this amount from loan proceeds to start the escrow account for the next
tax reserve indicates that the new lender is tax paymen
A. Withholding this amount from loan proceeds to start the
escrow account for the next tax payment
B. Collecting this tax amount from the seller
C. Contributing this amount toward the buyer's taxes for this
year
D. There is no such thing as a Tax Reserve
Which of the following is true when an employing broker A. the broker must notify the commission in a manner acceptable to the commission or
changes the primary business address? the license will become inactive
A. the broker must notify the commission in a manner
acceptable to the commission or the license will become
inactive
B. each employed licensee must notify the commission of the
change
C. the change may be noted at the next license renewal cycle
D. all licenses of employees must be sent to the commission
for reissue
, An Environmental Impact Statement (EIS) D. projects the impact on the environment of a proposed project
A. summarizes the environmental impact of an existing project
B. is used primarily for state and Federally funded projects
C. must be approved by all affected water districts
D. projects the impact on the environment of a proposed
project
The real estate contract for a specific property for use as an A. impossibility of performance
unlicensed petroleum sales operation was forced to terminate.
The termination was the result of:
A. impossibility of performance
B. novation
C. breach of contract
D. operation of law
In order for the appraiser to obtain access to the property, he A. listing agent
or she must first obtain permission from the:
A. listing agent
B. Title Company
C. buyer
D. selling agent
The IRS requires which of the following documents to be B. 1099-S
completed by the seller at the time of closing?
A. W-9
B. 1099-S
C. W-4
D. 1031-E
A seller providing financing may be exempt from attaining a B. less than 3 transactions in the past 12 months
lender's license if they have completed:
A. a seller providing financing always needs a mortgage
license
B. less than 3 transactions in the past 12 months
C. less than 5 transactions in the past 12 months
D. less than 5 transactions is the past 15 months.
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
,Loan fraud can have the following results to a real estate D. no action taken
licensee except:
A. criminal action filed in criminal court
B. disbarred by HUD from all federal programs
C. end of a career in real estate
D. no action taken
The maximum amount of days that can be specified in the D. negotiable by Seller and Broker
Holdover Period in the Listing Contract is:
A. 30 days
B. 60 days
C. 90 days
D. negotiable by Seller and Broker
On a new loan closing, the settlement worksheet entry for a A. Withholding this amount from loan proceeds to start the escrow account for the next
tax reserve indicates that the new lender is tax paymen
A. Withholding this amount from loan proceeds to start the
escrow account for the next tax payment
B. Collecting this tax amount from the seller
C. Contributing this amount toward the buyer's taxes for this
year
D. There is no such thing as a Tax Reserve
Which of the following is true when an employing broker A. the broker must notify the commission in a manner acceptable to the commission or
changes the primary business address? the license will become inactive
A. the broker must notify the commission in a manner
acceptable to the commission or the license will become
inactive
B. each employed licensee must notify the commission of the
change
C. the change may be noted at the next license renewal cycle
D. all licenses of employees must be sent to the commission
for reissue
, An Environmental Impact Statement (EIS) D. projects the impact on the environment of a proposed project
A. summarizes the environmental impact of an existing project
B. is used primarily for state and Federally funded projects
C. must be approved by all affected water districts
D. projects the impact on the environment of a proposed
project
The real estate contract for a specific property for use as an A. impossibility of performance
unlicensed petroleum sales operation was forced to terminate.
The termination was the result of:
A. impossibility of performance
B. novation
C. breach of contract
D. operation of law
In order for the appraiser to obtain access to the property, he A. listing agent
or she must first obtain permission from the:
A. listing agent
B. Title Company
C. buyer
D. selling agent
The IRS requires which of the following documents to be B. 1099-S
completed by the seller at the time of closing?
A. W-9
B. 1099-S
C. W-4
D. 1031-E
A seller providing financing may be exempt from attaining a B. less than 3 transactions in the past 12 months
lender's license if they have completed:
A. a seller providing financing always needs a mortgage
license
B. less than 3 transactions in the past 12 months
C. less than 5 transactions in the past 12 months
D. less than 5 transactions is the past 15 months.
