Colorado Real Estate Exam Preparation: Questions & Answers : Updated A+ Guide

If a Seller carries back $12,000 at 10 percent interest and closes on July 9 with the first loan payment due September 1, the interest on the new loan on the settlement worksheet will be: (Ans- $75.62 Debit Buyer & Credit Seller At a minimum an independent broker's written office policy must identify and describe: (Ans- The relationships offered to the public by such broker Unless modified, the powers granted in a Colorado statutory power of attorney for property are (Ans- General in scope Under which of the following circumstances would a broker license NOT be placed on inactive status? (Ans- failing to meet your continuing education requirements The commission will, when becoming aware that a licensee has failed to maintain possession of transaction records for a period of four years, (Ans- Impose an administrative fine not to exceed two thousand five hundred dollars for each separate offense If the commission finds that a licensee fails to maintain possession any documents or records regarding a transaction for a period of 4 years it may do all of the following except (Ans- impose an administrative fine of five thousand dollars for each separate offense A counter offer is used by the seller for all of the following except (Ans- To extend the listing agreement with the listing broker