COLORADO CONTRACTS & REGULATIONS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/| latest update 2024/25|

COLORADO CONTRACTS & REGULATIONS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ The Mediation clause in the Contract to Buy and Sell Real Estate requires the parties to: - -share equally in the cost of a mediator. In Colorado, the following are all violations of the Colorado License Law EXCEPT: - -acting for more than one party with the full knowledge of all parties. The exception to the rule against commingling company funds with trust funds is: - -the minimal funds needed to keep the account operative. Unlike individual licenses, firm licenses: - -do not require renewal. In the Contract to Buy and Sell Real Estate, a buyer must notify the seller in writing of any dissatisfaction with the proposed loan interest rate, payments, etc., or forfeit the earnest money before the: - -loan objection deadline. Under the Exclusive Right-to-Buy Contract, the buyer may choose to have the buyer agent paid by any of the following EXCEPT: - -the lender if the broker referred the buyer to that lender. Which of the following, if any, is exempt from the Colorado Real Estate License Law? - -An entity or person acting on its own behalf as a principal If a seller fails to deliver possession of a property that is the subject of a Contract to Buy and Sell Real Estate at the possession date and time, _____ . - -the seller is subject to eviction and a specified payment penalty per day. The Licensee Buy-out Addendum to the Contract to Buy and Sell Real Estate: - -assures an owner that the broker will buy the owner's house if it fails to sell through the broker's efforts. When does the initial license expire? - -3 year