Colorado Real Estate Exam - State Portion Questions and Answers Latest Update

A licensee may accept compensation from: - ANSWER-The licensees employing broker only When a licensee uses a licensee buyout addendum you are putting the seller on notice that: - ANSWER-The buyer is a licensee, the buyer may make a profit and the seller may incur a loss. When must a listing broker disclose to a potential buyer the broker's working relationship with the seller? - ANSWER-In writing before receiving or eliciting confidential information Agent Mike is the broker owner of AAA Realty, a trade name registered with the state of Colorado and licensed with the Colorado Real Estate Commission. Which of the following is correct? - ANSWER-All licensees employed by Mike must only do business under AAA Realty According to Real Estate Commission rules - who has responsibility for the accuracy of a closing? - ANSWER-The designated broker, the employing broker and any substitute broker A new loan for $165,000 is taken out at 6 1/2 % by the buyer the closing is May 16. How will the interest be shown on the settlement sheet? - ANSWER-$470.13 debit to the buyer, credit to the broker