REAL ESTATE EXAM PREP (COLORADO) VANED|QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026 |GUARANTEED A+

REAL ESTATE EXAM PREP (COLORADO)




True or false, when working with a buyer, an agent should make sure the buyer has enough for
B B B B B B B B B B B B B B B B B



B a down payment AND closing costs? - ANSWER-
B B B B B B B True



A major difference of a Comparative Market Analysis and an appraisal performed for a lender i
B B B B B B B B B B B B B B B



s that ___ - ANSWER-
B B B B



Lender's appraisals for federally insured financial institutions must be prepared by licen
B B B B B B B B B B B



sed appraisers, while a CMA is prepared by a real estate broker
B B B B B B B B B B B




At what time can a licensed broker commingle tenant security deposits and earned sales inco
B B B B B B B B B B B B B B



me? - ANSWER- B B



When the brokerage maintains less than seven single family residential units.
B B B B B B B B B B




Errors and Omissions (E&O) Insurance must be purchased through - ANSWER-
B B B B B B B B B B



The group E&O carrier with whom the Real Estate Commission contracts, or any carrier
B B B B B B B B B B B B B B



who meets the minimum requirements established by the Commission
B B B B B B B B




E&O Insurance must be in place . - ANSWER-
B B B B B B B B Before an active license can be issued
B B B B B B




True or false, your clients' children who weigh less than 40 lbs. do not have to be in a "child sea
B B B B B B B B B B B B B B B B B B B B



t" while you show property, if the parents don't care? - ANSWER-
B B B B B B B B B B B False



True or false, you should have a set of personal and business goals in order to be very successf
B B B B B B B B B B B B B B B B B B



ul in real estate? - ANSWER-
B B B B B True



True or false, the Code of Ethics is one of the requirements of being a Realtor? - ANSWER-
B B B B B B B B B B B B B B B B B



True



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Wicky

,True or false, dreams and goals are the same thing? - ANSWER-
B B B B B B B B B B B False



True or false, finding a company you would like to be associated with could determine your su
B B B B B B B B B B B B B B B B



ccess or failure? - ANSWER-
B B B B True



True or false, new agents need little contact with other licensees? - ANSWER-
B B B B B B B B B B B B False



True or false, you do not need a sphere of influence if you already know a lot of people? -
B B B B B B B B B B B B B B B B B B B



B ANSWER- False



True or false, personal brochures are a good marketing tool? - ANSWER-
B B B B B B B B B B B True



True or false, you cannot call expired listings to see if you can list the property until 5 days have
B B B B B B B B B B B B B B B B B B B



passed, in order to allow the previous listing agent time to re-list the property? - ANSWER-
B B B B B B B B B B B B B B B B



False



True or false, when listing a property, you should always list it for 10% more than it is worth? -
B B B B B B B B B B B B B B B B B B B



B ANSWER- False



True or false, there is no difference between a CMA and an appraiser's appraisal for a bank? -
B B B B B B B B B B B B B B B B B



B ANSWER- False



True or false, real estate agents love open listings because they give everyone a chance to sell t
B B B B B B B B B B B B B B B B B



he property? - ANSWER-
B B B False



True or false, real estate agents should always disclose the source of measurement for a home
B B B B B B B B B B B B B B B



B which they are listing? - ANSWER-
B B B B B True



True or false, a settlement statement for the party represented or assisted must be included in
B B B B B B B B B B B B B B B



B the closed transaction file? - ANSWER-
B B B B B True

2
Wicky

,Calling expired listing is - ANSWER-B B B B B A type of prospecting
B B B




The most convenient way to get referrals is from your sphere of influence. To do so - ANSWER-
B B B B B B B B B B B B B B B B B



-Ask them if they can refer a friend to you
B B B B B B B B B




B -Send them a personal note B B B B




B -Ask if you can add them to your client appreciation program
B B B B B B B B B B




Being an Independent contractor involves - ANSWER-
B B - B B B B



Maintaining independent control of your business functions
B B B B B B B




-Creating your own work schedule B B B B




-Keeping track of your accounting B B B B




Independent contractor tax deductions - ANSWER- - B B B B B



Can include just about any expense that is incurred in the conduct of your business
B B B B B B B B B B B B B B




-Are the same as a small business deductions
B B B B B B B




If you haven't yet selected a real estate office to bless with your presence, you should consider
B B B B B B B B B B B B B B B B



B B - ANSWER- Striving to work in an office that fits your personality and interests
B B B B B B B B B B B




New agents __ - ANSWER-
B Often have never been in business for themselves—
B B B B B B B B B B



they've only worked as employees B B B B




A good business plan include all of the following EXCEPT - ANSWER-
B B B B B B B B B B B Your vacation plans
B B




( A good business plan includes your goals, services you provide, budget and funding, and a m
B B B B B B B B B B B B B B B B



arketing plan.) B




Prospecting can involve - ANSWER- B B B B



1. Picking specific neighborhoods to mail information
B B B B B B




B 2. Farming
B




3
Wicky

, B 3. Calling your sphere
B B B




To find prospects and develop a clientele, all the following applies EXCEPT - ANSWER-
B B B B B B B B B B B B B



Being reserved—people will respect you and want to work with you
B B B B B B B B B B




(To find prospects and develop a clientele, tell people what you do. Talk about real estate; just
B B B B B B B B B B B B B B B B B



begin speaking to a few people and you will have drawn a crowd.)
B B B B B B B B B B B B




When you plan a brochure, it's not a good idea to __ - ANSWER-
B B B B B B B B B B B B B



. Use a high school year book picture or glamour-shot photo
B B B B B B B B B B




(When you plan a brochure, it's a good idea to use the standard 8½" x11" with a tri-
B B B B B B B B B B B B B B B B B



fold, which will easily fit into a business-
B B B B B B B



size envelope. Have a professional photographer take a picture of you to use in all of your mar
B B B B B B B B B B B B B B B B B



keting materials. You can create your brochure on your website then print it (it is better to hav
B B B B B B B B B B B B B B B B B



e a professional print it).)
B B B B




A REALTOR® who is a specialist in a certain neighborhood and who is considered an expert in t
B B B B B B B B B B B B B B B B B



hat neighborhood, is obligated to disclose facts about __ - ANSWER-
B B B B B B B B B B



1. Minorities in the area
B B B B




CORRECT ANSWER B B




B 2. Expansive soil
B B




B 3. Crime
B




B 4. Stigmatized property
B B




If a broker is not experienced in farm and ranch properties and he or she has been asked to list
B B B B B B B B B B B B B B B B B B B



Bone, he or she should - ANSWER-
B B B B B B



2. Seek the assistance of another real estate licensee who does have the necessary exp
B B B B B B B B B B B B B B



erience

B 3. Refer the listing to another more experienced broker
B B B B B B B B




When preparing a Competitive Market Analysis (CMA), the most likely highest price would be
B B B B B B B B B B B B B B



represented by the average__ - ANSWER- B B B B B



List price of three comparable homes listed but not yet sold
B B B B B B B B B B




4
Wicky