COLORADO REAL ESTATE EXAM PREP #3|QUESTIONS AND VERIFIED 100% CORRECT ANSWERS|LATEST 2025/2026|GRADED A+

COLORADO REAL ESTATE EXAM PREP
#3|QUESTIONS AND VERIFIED 100% CORRECT
ANSWERS|LATEST 2025/2026|GRADED A+

If neither the management agreement with the owner nor the tenant's lease addresses who
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will hold the security deposits, they must be deposited in: - ANSWER-
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Account(s) separate from other money belonging to the broker
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Colorado Use Tax, a form of sales tax, is payable on the transfer of furniture, equipment, etc. S
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tatute places the obligation to pay this tax by the: - ANSWER-
B B B B B B B B B B B Buyer



Select the correct statement about a lease in Colorado: - ANSWER-
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All residential leases have an implied warrant of habitability
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When a designated broker serves as a single agent for a seller or buyer, imputed knowledge ex
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tends to - ANSWER-
B B B



Only other brokers designated to work with the same buyer or seller.
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A designated broker may share confidential information about a seller with: - ANSWER-
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a supervising broker with the informed consent of the seller
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A buyer signs the lead-based paint disclosure form - ANSWER-
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prior to an offer becoming a contract
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When using an Exclusive Right to Sell Listing contract - ANSWER-
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The designated broker is given permission to disclose confidential information of seller
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to the supervising broker.
B B B




Broker Bill is selling his own home. He - ANSWER-
B B B B B B B B B Must disclose that he owns the home
B B B B B B




1
Wicky

, Regarding real estate forms, real estate brokers - ANSWER-
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1. are required to use Commission-approved forms
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2. may use any form
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3. may use other forms but they shall not be prepared by a broker
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4. Both 1 and 3 are correct***
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The Post-Closing Occupancy Agreement is - ANSWER-
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Used when a residential transaction calls for a Seller to rent-
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back after closing, up to 30 days
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Fees for real estate closing services shall be paid at closing by: - ANSWER-
B B B B B B B B B B B B B



The negotiated arrangement of the parties
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The process of taking water from a private owner for public use, together with compensation t
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o the owner is known as: - ANSWER-
B B B B B B B Condemnation



A landlord shall within one month after the termination of a lease or surrender and acceptanc
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e of the premises, return the full security deposit unless the written lease agreement specifies
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B a longer period of time, but not to exceed: - ANSWER-
B B B B B B B B B B 60 days
B




For a July 9 closing, with the buyer assuming a 6.75 percent loan with a balance of $121,753.4
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3 and seller has made the July 1 payment, what is the interest on the loan assumed? -
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B ANSWER- Debit Seller & Credit Buyer $176.74
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What is the current year tax proration based on last year's property taxes of $1,823.56 for a Jul
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y 9 closing? - ANSWER-
B B B B $944.25 Debit Seller & Credit Buyer B B B B B




The gross amount of a buyer's new loan is entered on the settlement worksheet as: -
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B ANSWER- Credit Buyer, single entry on the "Trust deed payable to:" line
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2
Wicky