Colorado Real estate practice exam part 1 Questions and Answers 100% Accurate

All of the following must be in compliance with a broker's escrow or trust account EXCEPT - ANSWER-by being maintained in the name of the licensed brokerage. The approved Earnest Money Promissory Note - ANSWER-must be due early enough to assure good funds for closing. In Colorado license law, the terms "employing broker" and employed licensee mean that - ANSWER-The employing broker has specific supervisory requirements for all employeed licensees. The Residential Contract to Buy and Sell includes a provision about lead-based paint disclosure. According to this provision, if the building permit for a residential improvement on the property was issued prior to January 1, 1978, - ANSWER-the contract is void unless disclosure is signed by seller and brokers prior to the parties signing the sales contract. When are electronic signatures on the Contract to Buy and Sell acceptable? - ANSWER-If the parties agree and indicate that choice on the contract form. Salesperson J-H paid the local telephone company to list her name in the directory under the real estate heading as "J-H, Real Estate Salesperson, Residential Property My Speciality." Based on the information, J-H must also include - ANSWER-the name of her employing broker.