Colorado Real Estate Post-Exam questions n answers rated A+ 2024/2025

Colorado Real Estate Post-Exam What is the purpose of the Colorado Real Estate law - correct answer to protect the public in all matters of real estate Under Conway-Bouge, licensees - correct answer must be connected to the transaction must use standardized and approved forms may not charge a separate fee for preparing documents Title insurance companies - correct answer act as scrivener of the real estate broker, who is responsible for all documents produced by the title company The broker is responsible for ________ for the legal documents the broker requests from the title company - correct answer payment Brokers may not accept ______________ from title companies - correct answer referral fees A license is required for any person who for compensation does the following - correct answer lists, leases, buys, exchanges, auctions, negotiates and sells (LLBEANS) The Commission upon its own motion and upon verified written complaint must investigate licenses who might be guilty of - correct answer False advertising, violating the Colorado Consumer Protection Act, Failing to properly handle and manage trust monies, Failing to keep documents for 4 years, Paying a commission to an unlicensed to work, Dual contracting, Non Disclosure The Commission can audit a brokers account at any time, without notice, to verify that the broker has: - correct answer Maintained records for 4 years, not commingled funds and provide all purchasers and sellers with proper closing statements The COmmission will request that the license - correct answer respond to complaint and supply written documentation