COLORADO REAL ESTATE SCHOOL/ MISSED AND STUCK EXAM QUESTIONS & ANSWERS, GRADED A+/| latest update 2024/25|

COLORADO REAL ESTATE SCHOOL/ MISSED AND STUCK EXAM QUESTIONS & ANSWERS, GRADED A+/ Which of the following requires the use of the Licensee Buyout Addendum to the contract to Buy & Sell? 1. A listing associates offer to purchase a listing immediately after it expires 2. A broker is offering a guarantee as an inducement to list with his company 3. An associate in the brokerage wishes to purchase another associates listing 4. A broker wishes to acquire a property he has listed to use as an investment - -A broker is offering a guarantee as an inducement to list with his company A buyer is assuming a loan and the loan balance has turned out to be less than the assumption balance provided by the seller. How would this be handled according to the Residential Contract to Buy and Sell? 1. The seller must reduce the price of the property to compensate for the difference. 2. The buyer may terminate the contract by written notice if the difference causes the buyer's cash at closing to increase by a stated amount. 3. The contract is automatically terminated by the seller's misrepresentation. 4. Depending on how the form is completed, either the buyer may terminate the contract or the seller could reduce the price to make up for the difference. - -The buyer may terminate the contract by written notice if the difference causes the buyer's cash at closing to increase by a stated amount. According to the Licensee Buyout Addendum to the Contract to Buy and Sell, when does responsibility extend beyond the licensee to the brokerage firm? 1. when the buyout date arrives 2. when the buyout is for the personal use of the principal broker 3. only if the listing associate is unable to perform the buyout 4. If the employing broker signs at the bottom of the addendum - -If the employing broker signs at the bottom of the addendum A designated broker's responsibilities are delegated by: 1. written statement by Managing Broker 2. office manager 3. legislative statute 4. negotiated by buyer and seller - -written statement by Managing Broker Who can not prepare an addendum to the Contract to Buy and Sell Real Estate? 1. buyer or seller 2. employing broker's attorney 3. attorney for buyer 4. buyer's broker - -buyer's broker Unless the lease states otherwise, how long does a property manager have to return a security deposit after a lease has expired? 1. one month 2. 60 days 3. 45 days 4. 6 months - -one month The Colorado Fair Housing Law prohibits discrimination based on: 1. age 2. occupation 3. military status 4. marital status - -marital status A broker representing a seller advertises that she will "rebate" a part of her commission to the buyer at closing. To be legal the broker must: 1. This is not legal as the buyer is not licensed 2. Disclose and get approval from the seller 3. Give the seller the same rebate 4. Disclose and get approval from the buyer's broker - -Disclose and get approval from the seller The furnace breaks down before closing, but after the buyer h