COLORADO REAL ESTATE STATE PORTION EXAM PREP EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+.| latest update 2024/25|

COLORADO REAL ESTATE STATE PORTION EXAM PREP EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+. True or False? Colorado real estate license law was enacted to protect brokers? - -FALSE-The law protects the public in dealing with licensed brokers. True or False? The Real Estate Commission must investigate every complaint against a license. - - FALSE-Only written complaints must be investigated. True or False?If a licensee violates the license law, the Commission may levy a fine of up to $2,500. - - TRUE True or False? Colorado Brokers are allowed to prepare any type of legal document. - -FALSE-Brokers may prepare legal documents for real estate transactions if they use standard or approved forms. True or False? The Real Estate Commission's discipline of licensees may include a fine, public censure, license suspension, or license revocation. - -TRUE True or False? The Real Estate Commission holds a public hearing to determine if a licensee is guilty of violating license law. - -FALSE- The hearing is held in court by an Administrative Law Judge. True or False? The Real Estate Commission will investigate a violation of the Consumer Protection Act. - -TRUE True or False? The Real Estate Commission will investigate a complaint regarding the failure of a licensee to disclose stigmatized property - -FALSE- Stigma is not considered a material fact under Colorado law, and the listing broker may not disclose it without the concent of the seller True or False? The Real Estate Commission has authority over ethical conduct. - -FALSE- The National Association of Realtors has a code of ethics for its members. True or False? The Real Estate Commission has the authority to grant and revoke licenses. - -TRUE True or False? A Securities license is required to sell options in real estate. - -FALSE- A real estate license is required to sell real estate options. True or False? HUD can revoke a broker's license for a violation of Fair Housing. - -FALSE- Only the Real Estate Commission can revoke a real estate license. True or False? A broker's license allows the licensee to sell real estate securities. - -FALSE- A securities license is needed to sell securities. True or False? A Broker must be connected to the transaction to recieve payment. - -TRUE- Conway Bogue True or False? The Real Estate Commission (REC) will use a subpeona to request that a licensee respond to a complaint. - -FALSE- A licensee must respond in writing to the Commission. True or False? The brokerage firm must retain records for 7 years. - -FALSE- 4 year