MODERN REAL ESTATE PRACTICE/COLORADO LAW AND PRACTICE FINAL EXAM |ACTUAL EXAM QUESTIONS AND ANSWERS|100% CORRECT |LATEST 2025/2026|GRADED A+

MODERN REAL ESTATE PRACTICE/COLORADO




A seller signed an exclusive agency contract with a brokerage firm. If the seller finds a suitable
B B B B B B B B B B B B B B B B B



buyer with no assistance, the firm is entitled to - ANSWER-
B B B B B B B B B B



no compensation from the seller.
B B B B




A buyer who wants to know whether the title for a property is in good standing would order a(
B B B B B B B B B B B B B B B B B B



n) - ANSWER-
B B abstract.



An estate in severalty is associated with which of the following? - ANSWER-
B B B B B B B B B B B B



Sole and separate ownership B B B




A lease contract that specifies an end date for tenancy and does NOT require advanced notice
B B B B B B B B B B B B B B B B



to terminate is a(n) - ANSWER-
B B B B B estate for years. B B




A broker enters into a listing contract with a seller. The seller advertises and negotiates a sale c
B B B B B B B B B B B B B B B B B



ontract on her house. At closing, the broker is paid a full commission. The listing contract must
B B B B B B B B B B B B B B B B



B have been a(n) - ANSWER-
B B B B exclusive right to sell. B B B




Conveyance of title occurs the moment a deed is - ANSWER- B B B B B B B B B B delivered and accepted. B B




A lease in which a commercial tenant's rent amount stays the same for the term of the lease a
B B B B B B B B B B B B B B B B B B



nd the tenant pays only rent to the landlord is what type of lease? - ANSWER-
B B B B B B B B B B B B B B B Gross



A brother and his sister were co-
B B B B B B



owners of a lot. The sister became the sole owner automatically when the brother died. The fo
B B B B B B B B B B B B B B B B



rm of ownership they had was - ANSWER-
B B B B B B B joint tenancy. B




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, The document that creates a lien and acts as security for the promissory note is a - ANSWER-
B B B B B B B B B B B B B B B B B



deed of trust. B B




The lower the loan-to-value ratio, the higher the - ANSWER-
B B B B B B B B B owner's equity. B




The property owner has given a potential buyer the right to buy the property at a set price for
B B B B B B B B B B B B B B B B B B B



a set period; this is, a(n) - ANSWER-
B B B B B B B option.



The clause in all deeds that passes on the rights and obligations is known as - ANSWER-
B B B B B B B B B B B B B B B B



words of conveyance. B B




A lender is required to give the borrower a loan estimate - ANSWER-
B B B B B B B B B B B B



within three days after loan application.
B B B B B




An example of specific performance for breaching a real property purchase contract is -
B B B B B B B B B B B B B



B ANSWER- a court action to force compliance with the contract.
B B B B B B B B




How would the buyer's earnest money deposit be entered on a closing statement in a typical r
B B B B B B B B B B B B B B B B



eal estate transaction? - ANSWER-
B B B B Credit to buyer only B B B




A recent zoning amendment has changed the area zoning from commercial to residential. All t
B B B B B B B B B B B B B B



he commercial buildings within the area will now - ANSWER-
B B B B B B B B B



be considered a grandfathered nonconforming use.
B B B B B




The listing broker is on her way to present an offer to a seller when she receives a message tha
B B B B B B B B B B B B B B B B B B B



t the seller has died. Because of the seller's death, - ANSWER-
B B B B B B B B B B B



both the listing contract and offer are terminated.
B B B B B B B




Which deed offers only two covenants or warranties? - ANSWER-
B B B B B B B B B Special warranty B




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