COLORADO POST EXAM 2025 NEWEST 2 VERSIONS
ACTUAL EXAM
After closing, a buyer discovered that a suicide had recently occurred on the property.
The buyer submitted a complaint to the Colorado Real Estate Commission against the
listing broker for failing to disclose this fact. The Commission will
A)
dismiss the complaint because stigmatization of property is not considered a material
fact.
B)
immediately suspend the license of the broker while awaiting a hearing.
C)
investigate the complaint, submit it to a hearing, and may revoke the license of the
listing broker.
D)
void the sale and award the buyer money from the Recovery Fund. - ANS-The answer
is dismiss the complaint because stigmatization of property is not considered a material
fact. The Colorado Real Estate Commission will not investigate a broker in this situation
because stigmatized property law protects the broker from disclosure of these facts.
The Colorado Real Estate Commission would investigate a complaint
A)
from an associate broker over a dispute regarding commissions with the employing
broker.
B)
about a broker not supplying closing statements at closing.
C)
from a buyer regarding a broker not disclosing that someone was murdered on the
property.
D)
by the public involving a broker's ethics. - ANS-The answer is about a broker not
supplying closing statements at closing. The Colorado Real Estate Commission must
investigate any situation in which a broker is guilty of breaking the law. Brokers are
required to provide closing statements at closing. The Commission does not handle
ethics violations or disputes between buyers, and stigmatized property law protects the
broker from disclosing a murder.
A broker renewing a Colorado license is required to have how many hours of continuing
education over what period of time?
A)
36 hours over 4 years
B)
24 hours over 3 years
C)
,8 hours over 2 years
D)
24 hours over 4 years - ANS-The answer is 24 hours over 3 years. The law requires a
total of 24 hours of continuing education, of which 12 must be from Annual Commission
Update courses, with all education completed over 3 years.
An active broker may fulfill the continuing education requirement for a three-year
renewal cycle by any of the following EXCEPT
A)
taking 24 hours of approved continuing education courses.
B)
taking and passing the state section of the broker licensing exam.
C)
taking the national section of the broker licensing exam.
D)
completing 12 hours of commission updates and 12 elective hours of approved
continuing education. - ANS-The answer is taking the national section of the broker
licensing exam. The broker can take and pass the state portion of the licensing exam or
take 24 hours of continuing education by completing 12 hours of updates and 12 hours
of elective courses to meet the continuing education requirement. Taking the national
portion of the licensing exam will not give the broker any credit.
An inactive broker may do all of the following EXCEPT
A)
complete a contract form once the broker has given pricing information.
B)
prepare a CMA for a licensed broker who will then present it to the buyer.
C)
sign checks from a brokerage firm's trust account.
D)
manage property as an employee of the landlord. - ANS-The answer is complete a
contract form once the broker has given pricing information. An inactive broker may not
do anything that requires a license, such as soliciting buyers and sellers, selling options,
or listing property. Inactive brokers may, as any unlicensed person, work as an
employee to manage property under a landlord, work as an unlicensed assistant,
complete a CMA for the broker to present, and be a signer on the firm's trust account.
Under Colorado real estate license law, which of the following employees must have a
real estate license? The employee who is
A)
selling real estate options.
B)
leasing gas rights for the company.
C)
reviewing lease agreements as part of the job.
D)
, acting as an on-site property manager. - ANS-The answer is selling real estate options.
Employees who lease or review leases as part of a job are not required to have a real
estate license. On-site property managers are not required to be licensed.
Brokers must renew their errors and omissions insurance
A)
no later than the first anniversary of their license renewal.
B)
each year on or before June 15.
C)
when they apply for their license.
D)
on or before December 31 of each year. - ANS-The answer is on or before December
31 of each year. Errors and omissions insurance must be purchased before applying for
a license, and then it must be renewed annually.
Jane is the employing broker of ABC Realty. All of the following are correct EXCEPT
A)
both the brokerage firm and Jane will be required to have errors and omissions
insurance.
B)
as an employing broker, Jane will only need eight hours of continuing education every
three years.
C)
Jane should have all of her employed broker associates sign the office policy.
D)
all newspaper advertising must include ABC Realty in the ad. - ANS-The answer is as
an employing broker, Jane will only need eight hours of continuing education every
three years. Like all active brokers, employing brokers must complete 24 hours of
continuing education every three years. The firm's name is required on all advertising,
and all broker associates must sign the office policy. The brokerage firm and all brokers
of the firm, including the employing broker, must have E&O insurance.
Who could accept referral fees earned in the last six months?
A)
A licensed broker who was a sole proprietor and now works for a large firm
B)
A broker with a license on inactive status for the last year
C)
An unlicensed representative selling new homes
D)
An unlicensed property manager of a building reporting to the owner - ANS-The answer
is a licensed broker who was a sole proprietor and now works for a large firm. Only
brokers with an active license can accept referral fees.
All are true of earnest money EXCEPT
ACTUAL EXAM
After closing, a buyer discovered that a suicide had recently occurred on the property.
The buyer submitted a complaint to the Colorado Real Estate Commission against the
listing broker for failing to disclose this fact. The Commission will
A)
dismiss the complaint because stigmatization of property is not considered a material
fact.
B)
immediately suspend the license of the broker while awaiting a hearing.
C)
investigate the complaint, submit it to a hearing, and may revoke the license of the
listing broker.
D)
void the sale and award the buyer money from the Recovery Fund. - ANS-The answer
is dismiss the complaint because stigmatization of property is not considered a material
fact. The Colorado Real Estate Commission will not investigate a broker in this situation
because stigmatized property law protects the broker from disclosure of these facts.
The Colorado Real Estate Commission would investigate a complaint
A)
from an associate broker over a dispute regarding commissions with the employing
broker.
B)
about a broker not supplying closing statements at closing.
C)
from a buyer regarding a broker not disclosing that someone was murdered on the
property.
D)
by the public involving a broker's ethics. - ANS-The answer is about a broker not
supplying closing statements at closing. The Colorado Real Estate Commission must
investigate any situation in which a broker is guilty of breaking the law. Brokers are
required to provide closing statements at closing. The Commission does not handle
ethics violations or disputes between buyers, and stigmatized property law protects the
broker from disclosing a murder.
A broker renewing a Colorado license is required to have how many hours of continuing
education over what period of time?
A)
36 hours over 4 years
B)
24 hours over 3 years
C)
,8 hours over 2 years
D)
24 hours over 4 years - ANS-The answer is 24 hours over 3 years. The law requires a
total of 24 hours of continuing education, of which 12 must be from Annual Commission
Update courses, with all education completed over 3 years.
An active broker may fulfill the continuing education requirement for a three-year
renewal cycle by any of the following EXCEPT
A)
taking 24 hours of approved continuing education courses.
B)
taking and passing the state section of the broker licensing exam.
C)
taking the national section of the broker licensing exam.
D)
completing 12 hours of commission updates and 12 elective hours of approved
continuing education. - ANS-The answer is taking the national section of the broker
licensing exam. The broker can take and pass the state portion of the licensing exam or
take 24 hours of continuing education by completing 12 hours of updates and 12 hours
of elective courses to meet the continuing education requirement. Taking the national
portion of the licensing exam will not give the broker any credit.
An inactive broker may do all of the following EXCEPT
A)
complete a contract form once the broker has given pricing information.
B)
prepare a CMA for a licensed broker who will then present it to the buyer.
C)
sign checks from a brokerage firm's trust account.
D)
manage property as an employee of the landlord. - ANS-The answer is complete a
contract form once the broker has given pricing information. An inactive broker may not
do anything that requires a license, such as soliciting buyers and sellers, selling options,
or listing property. Inactive brokers may, as any unlicensed person, work as an
employee to manage property under a landlord, work as an unlicensed assistant,
complete a CMA for the broker to present, and be a signer on the firm's trust account.
Under Colorado real estate license law, which of the following employees must have a
real estate license? The employee who is
A)
selling real estate options.
B)
leasing gas rights for the company.
C)
reviewing lease agreements as part of the job.
D)
, acting as an on-site property manager. - ANS-The answer is selling real estate options.
Employees who lease or review leases as part of a job are not required to have a real
estate license. On-site property managers are not required to be licensed.
Brokers must renew their errors and omissions insurance
A)
no later than the first anniversary of their license renewal.
B)
each year on or before June 15.
C)
when they apply for their license.
D)
on or before December 31 of each year. - ANS-The answer is on or before December
31 of each year. Errors and omissions insurance must be purchased before applying for
a license, and then it must be renewed annually.
Jane is the employing broker of ABC Realty. All of the following are correct EXCEPT
A)
both the brokerage firm and Jane will be required to have errors and omissions
insurance.
B)
as an employing broker, Jane will only need eight hours of continuing education every
three years.
C)
Jane should have all of her employed broker associates sign the office policy.
D)
all newspaper advertising must include ABC Realty in the ad. - ANS-The answer is as
an employing broker, Jane will only need eight hours of continuing education every
three years. Like all active brokers, employing brokers must complete 24 hours of
continuing education every three years. The firm's name is required on all advertising,
and all broker associates must sign the office policy. The brokerage firm and all brokers
of the firm, including the employing broker, must have E&O insurance.
Who could accept referral fees earned in the last six months?
A)
A licensed broker who was a sole proprietor and now works for a large firm
B)
A broker with a license on inactive status for the last year
C)
An unlicensed representative selling new homes
D)
An unlicensed property manager of a building reporting to the owner - ANS-The answer
is a licensed broker who was a sole proprietor and now works for a large firm. Only
brokers with an active license can accept referral fees.
All are true of earnest money EXCEPT
