COLORADO REAL ESTATE NATIONAL EXAM REVIEW QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GRADED A+

COLORADO REAL ESTATE NATIONAL EXAM



What is a Conventional Loan? - ANSWER-
B B B B B B



A loan NOT insured or guaranteed by the government
B B B B B B B B B




(NOT a FHA, VA, or USDA loan)
B B B B B B




Which appraisal method is best for single family homes? - ANSWER-
B B B B B B B B B B



Reproduction Approach B




Does the date of mailing (postmark) or the date of acceptance cause a contract to be valid afte
B B B B B B B B B B B B B B B B B



r offering? - ANSWER-
B B B Date of mailing ( Postmark
B B B B




Consideration is required by law for a deed to be valid. True or False? - ANSWER-
B B B B B B B B B B B B B B B False



In the market approach of appraising, are adjustments made to the subject property or the co
B B B B B B B B B B B B B B B



mparable property? - ANSWER- B B B Comparable Property B




What is the National Association of Realtors responsible for establishing? - ANSWER-
B B B B B B B B B B B



Code of Ethics B B




All agents in an office are allowed to set the same commission rates. True or False? - ANSWER-
B B B B B B B B B B B B B B B B B



True



What does the Uniform of Commercial Code require of borrower for a furnished home? -
B B B B B B B B B B B B B B



B ANSWER- Sign a security agreement and file a financing statement
B B B B B B B B




An easement is an encumbrance. True or False? - ANSWER-
B B B B B B B B B True



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Wicky

, What is Joint Tenancy? - ANSWER-
B B B B B



The equal sharing of a property between two or more people; with the right of survivor
B B B B B B B B B B B B B B B



ship.



What is Rule E-35? - ANSWER-B B B B B



All agency contracts must be in writing with full disclosure.
B B B B B B B B B




What is a Certificate of Reasonable Value ( CRV ) - ANSWER-
B B B B B B B B B B B



An "appraisal" made by the VA; the amount that the VA lending institution is willing to
B B B B B B B B B B B B B B B B



provide for a property. B B B




What was Fannie Mae established for? - ANSWER-
B B B B B B B To buy existing insured FHA Loans
B B B B B




The amount due to the seller appears on a closing statement as a: - ANSWER-
B B B B B B B B B B B B B B



Credit to the broker B B B




MUST READ EXPLAINATION B B




This answer pertains to the bottom of the settlement sheet when the columns are reconciled.
B B B B B B B B B B B B B B B



Once you have applied all credit and debits, you total up all columns to the bottom. Obviously
B B B B B B B B B B B B B B B B B



they are not going to be the same. Looking at the Seller's debit and credit columns. After you a
B B B B B B B B B B B B B B B B B B



dd them up. If the Seller's debit column is less than the Seller's Credit column, it means the Sel
B B B B B B B B B B B B B B B B B B



ler is getting money back -
B B B B B



Bs/he owes less than s/he is getting. To determine how much, you add whatever you need to th
B B B B B B B B B B B B B B B B B



e Debit column to make it equal to the Credit column. If for example, the debit column totals $
B B B B B B B B B B B B B B B B B B



60,000 and the Credit column totals $100,000; you would add $40,000 to the Debit column m
B B B B B B B B B B B B B B B



aking both columns equal to $100.000. Unfortunately, you are not done yet. You have added $
B B B B B B B B B B B B B B B



40,000 to the Seller's Debit column. For every Debit there must be a Credit. Where does this c
B B B B B B B B B B B B B B B B B



orresponding Credit go? To the Broker Credit column. Remember, the Broker columns represe
B B B B B B B B B B B B



nt the Escrow account. The Debit column represents money being deposited into the account
B B B B B B B B B B B B B B



(expl - B



Bmoney from lender). The Credit column represent checks (or wire transfers) that need to be w
B B B B B B B B B B B B B B B



ritten from the account. In this case; the $40,000 Broker credit is a check that needs to be writt
B B B B B B B B B B B B B B B B B B



en to the Seller. This is how the Closing Agents knows that s/he needs to write a check. Theref
B B B B B B B B B B B B B B B B B B



ore the amount due to the Seller appears as a Credit Broker.
B B B B B B B B B B B




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Wicky