COLORADO REAL ESTATE EXAM QUESTIONS
WITH ALL CORRECT & VERIFIED ANSWERS
(UPDATED)
Who of the following is exempt from real estate license law? Correct answer-Investors who own 12
investment properties and sell one to an owner-occupant
The purpose of the CRE Commission is to... Correct answer-Protect the public of the state of CO in
real estate matters
If a broker is accused of a violation of license law in a complaint to the commission investigative staff
and its determined that the violation probably happened, the commission... Correct answer-May
decide to refer the matter to a hearing before an appointed administrative law judge
If judge finds broker in violation, penalties include public censure, license suspension, license
revocation or fine of no more than $2,500.
Commission doesn't have authority to determine damages or order restitution.
The real estate commission must investigate... Correct answer-Any verified written complaint.
The commission doesn't deal with disputes b/t brokers.
In order to be the broker of record for a corporation, a person must hold... Correct answer-A valid
active CO broker's license.
In March 2001, the law removed the requirement for ownership and office/director status.
In the event that the employing broker of a corporate brokerage is suddenly unable to continue in
that position, the commission may issue a temporary "hardship" license to any.... Correct answer-
CO licensee approved by the corporate board of directors.
Licensee can either be a broker or a salesperson.
Sole proprietorship has no business entity and much rehire all employed licensees and renegotiate
all listings.
When the employing broker changes the primary business address... Correct answer-The broker
must notify the commission in a manner acceptable to the commission or the brokerage license will
become inactive.
If a broker fails to notify the commission, all licensees will become inactive until the change is made.
One notification services for the broker and all associated licensees.
When must CO licenses be renewed? Correct answer-Every three years on the anniversary of
licensing.
Errors and omissions professional liability insurance is required.... Correct answer-By every active
licensee.
WITH ALL CORRECT & VERIFIED ANSWERS
(UPDATED)
Who of the following is exempt from real estate license law? Correct answer-Investors who own 12
investment properties and sell one to an owner-occupant
The purpose of the CRE Commission is to... Correct answer-Protect the public of the state of CO in
real estate matters
If a broker is accused of a violation of license law in a complaint to the commission investigative staff
and its determined that the violation probably happened, the commission... Correct answer-May
decide to refer the matter to a hearing before an appointed administrative law judge
If judge finds broker in violation, penalties include public censure, license suspension, license
revocation or fine of no more than $2,500.
Commission doesn't have authority to determine damages or order restitution.
The real estate commission must investigate... Correct answer-Any verified written complaint.
The commission doesn't deal with disputes b/t brokers.
In order to be the broker of record for a corporation, a person must hold... Correct answer-A valid
active CO broker's license.
In March 2001, the law removed the requirement for ownership and office/director status.
In the event that the employing broker of a corporate brokerage is suddenly unable to continue in
that position, the commission may issue a temporary "hardship" license to any.... Correct answer-
CO licensee approved by the corporate board of directors.
Licensee can either be a broker or a salesperson.
Sole proprietorship has no business entity and much rehire all employed licensees and renegotiate
all listings.
When the employing broker changes the primary business address... Correct answer-The broker
must notify the commission in a manner acceptable to the commission or the brokerage license will
become inactive.
If a broker fails to notify the commission, all licensees will become inactive until the change is made.
One notification services for the broker and all associated licensees.
When must CO licenses be renewed? Correct answer-Every three years on the anniversary of
licensing.
Errors and omissions professional liability insurance is required.... Correct answer-By every active
licensee.
