Colorado Contracts and Regulations Exam
Questions with Correct Answers
2025-2026 A+ Graded.
The "Conway-Bogue" decision includes all the following statements: - ANS-the actions of
licensed real estate agents in the State of Colorado would be considered practicing law,
the documents must be prepared on commonly used printed standard and approved forms,
and that the broker may not charge for preparing documents that are part of the transaction.
The Conway-Bogue decision created what rule? - ANS-F-2 which allows licensed brokers to
practice law in a very limited way. You are allowed to prepare contracts (fill in the blanks of
approved contracts) and explain the contents of the contracts.
What is the rule F required statements? - ANS-"The printed portions of this form have been
approved by the Colorado Real Estate Commission." Immediately following the statement:
"THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD
CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING." "Brokerage's name,
address, phone" is also allowed.
What is Rule F? - ANS-USE OF COMMISSION APPROVED FORMS
In sales contracts, if a broker initiates the use of a pre-printed or prepared addendum, the
addendum must be prepared by - ANS-only the broker's attorney and can be used more than
once.
If there is a fire in the home prior to closing, all the following is true: If the home burns to the
ground the buyer has the right to purchase the home and use the seller's insurance to re build
the home, if the home's damage is less than 10% the seller can repair the damage and enforce
the contract and if the damaged property is a condominium, the association's rights concerning
the hazard insurance is taken into account. - ANS-
Colorado Real Estate Commission broker license law was passed to - ANS-Protect the people
of Colorado.
What law requires a potential buyer to contact law enforcement officials for further information if
the presence of a registered sex offender is a concern to the buyer? - ANS-Megan's Law
, Any additional cost in obtaining an ILC or survey is the responsibility of the: - ANS-Must be
negotiated in the contract.
In the event of any controversy regarding the earnest money held by a broker: - ANS-Broker
may await written instructions from buyer and seller
In addition to Federal law, Colorado legislature amended CADA in 2008 and added as a
protected class: - ANS-Sexual orientation
Gender identity
On your listings your office policy requires you to work ONLY as a Seller's agent. When working
with a buyer you will: - ANS-Give a disclosure definitions page explaining you are a seller's
agent and they would be considered a customer
Real estate brokers' licenses may be granted to corporations provided that - ANS-A qualified
active broker is designated to be responsible for management and supervision of the licensed
actions of the corporation
Which of the following would most likely not qualify for real estate broker license renewal
continuing education credit - ANS-An office meeting conducted by the Managing Broker of your
firm where your attendance is recorded and is made available for review
The Commission requires you to take three ____-hour Annual Commission Update (ACU)
classes in a three-year license cycle. The remaining 12 hours of CE credit can be selected from
a variety of approved elective courses. You are not allowed to take more than __hours of CE
credit in any given day. - ANS-4, 8
All courses may be taken as correspondence courses. All course offerings must be at least 1
hour long with a minimum of _____ minutes of instruction for each hour. - ANS-50
You can also take the ___________________________ once in any six year period (two
license cycles) in lieu of the 24-hour requirement - ANS-24-hour Broker Reactivation Course
True or False: you can take and pass the state specific portion of the Colorado Broker Exam in
lieu of taking any CE courses. - ANS-true!
When a homeowners' association changes mangers/brokers, all records - ANS-must be
returned to the association without charge for copies
If a homeowners' association changes management companies, all original records must be
returned to the association_____________________ - ANS-immediately and the broker needs
to keep copies of records for 4 years.
Questions with Correct Answers
2025-2026 A+ Graded.
The "Conway-Bogue" decision includes all the following statements: - ANS-the actions of
licensed real estate agents in the State of Colorado would be considered practicing law,
the documents must be prepared on commonly used printed standard and approved forms,
and that the broker may not charge for preparing documents that are part of the transaction.
The Conway-Bogue decision created what rule? - ANS-F-2 which allows licensed brokers to
practice law in a very limited way. You are allowed to prepare contracts (fill in the blanks of
approved contracts) and explain the contents of the contracts.
What is the rule F required statements? - ANS-"The printed portions of this form have been
approved by the Colorado Real Estate Commission." Immediately following the statement:
"THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD
CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING." "Brokerage's name,
address, phone" is also allowed.
What is Rule F? - ANS-USE OF COMMISSION APPROVED FORMS
In sales contracts, if a broker initiates the use of a pre-printed or prepared addendum, the
addendum must be prepared by - ANS-only the broker's attorney and can be used more than
once.
If there is a fire in the home prior to closing, all the following is true: If the home burns to the
ground the buyer has the right to purchase the home and use the seller's insurance to re build
the home, if the home's damage is less than 10% the seller can repair the damage and enforce
the contract and if the damaged property is a condominium, the association's rights concerning
the hazard insurance is taken into account. - ANS-
Colorado Real Estate Commission broker license law was passed to - ANS-Protect the people
of Colorado.
What law requires a potential buyer to contact law enforcement officials for further information if
the presence of a registered sex offender is a concern to the buyer? - ANS-Megan's Law
, Any additional cost in obtaining an ILC or survey is the responsibility of the: - ANS-Must be
negotiated in the contract.
In the event of any controversy regarding the earnest money held by a broker: - ANS-Broker
may await written instructions from buyer and seller
In addition to Federal law, Colorado legislature amended CADA in 2008 and added as a
protected class: - ANS-Sexual orientation
Gender identity
On your listings your office policy requires you to work ONLY as a Seller's agent. When working
with a buyer you will: - ANS-Give a disclosure definitions page explaining you are a seller's
agent and they would be considered a customer
Real estate brokers' licenses may be granted to corporations provided that - ANS-A qualified
active broker is designated to be responsible for management and supervision of the licensed
actions of the corporation
Which of the following would most likely not qualify for real estate broker license renewal
continuing education credit - ANS-An office meeting conducted by the Managing Broker of your
firm where your attendance is recorded and is made available for review
The Commission requires you to take three ____-hour Annual Commission Update (ACU)
classes in a three-year license cycle. The remaining 12 hours of CE credit can be selected from
a variety of approved elective courses. You are not allowed to take more than __hours of CE
credit in any given day. - ANS-4, 8
All courses may be taken as correspondence courses. All course offerings must be at least 1
hour long with a minimum of _____ minutes of instruction for each hour. - ANS-50
You can also take the ___________________________ once in any six year period (two
license cycles) in lieu of the 24-hour requirement - ANS-24-hour Broker Reactivation Course
True or False: you can take and pass the state specific portion of the Colorado Broker Exam in
lieu of taking any CE courses. - ANS-true!
When a homeowners' association changes mangers/brokers, all records - ANS-must be
returned to the association without charge for copies
If a homeowners' association changes management companies, all original records must be
returned to the association_____________________ - ANS-immediately and the broker needs
to keep copies of records for 4 years.
