Colorado Real Estate Exam Questions
with correct answers
A broker and a seller agree orally to extend the term of an exclusive listing agreement. The seller is bound by the extended dates
A) As long as the broker gets a written agreement to amend/extend before the revised expiration date.
B) Because the statute of frauds permits oral modifications to written contracts.
C) If the written agreement to amend/extend is signed before the original expiration date.
D) Only if the broker gets a completely new listing agreement with the new date. - ANSWERS✔-C) If the written agreement to amend/extend is
signed before the original expiration date.
\Q\.A broker associate works for All Star Realty™. The broker must ensure all advertising, including social media, has the
A) Firm's trade name at least two times larger than the brokerage's name.
B) Firm's trade name as registered with the Department of Revenue.
C) Broker's name and firm's trade name the same size.
D) Brokerage's name as registered with the Colorado Real Estate Commission. - ANSWERS✔-D) Brokerage's name as registered with the
Colorado Real Estate Commission.
\Q\.A broker completed all of her required continuing education, but 15 days after her anniversary date, she still has not paid renewal fees for
her license. What is the current status of her license?
A) Inactive and may not sell real estate
B) Active but may not sell real estate
C) Expired
D) Active and may sell real estate if she pays within 30 days - ANSWERS✔-B) Active but may not sell real estate
\Q\.A broker developed a website to advertise the broker's office with the brokerage's name, location, and phone number. What additional
information does the broker need to include?
A)Name and address of the home office and the states in which the brokerage holds licenses
B) License number of the brokerage and list of current active licensees
C) Names of active licensees, addresses, and phone numbers
, Colorado Real Estate Exam Questions
with correct answers
D) No need for any additional disclosures - ANSWERS✔-D) No need for any additional disclosures
\Q\.A broker has a signed Exclusive Right-To-Buy Listing Contract. The broker may get her commission from
A) The buyer, the seller, or the listing broker.
B) Only from the listing broker or the seller; the buyer is under no obligation to pay.
C) The listing broker who must pay the negotiated fee at closing.
D) The buyer who must pay the fee at closing. - ANSWERS✔-A) The buyer, the seller, or the listing broker.
\Q\.A broker has been approached by a neighbor to list the neighbor's home. The property is currently listed with another company and the
neighbor said she only has two weeks left on the listing contract. The broker should
A) List the property but make sure the new listing contract does not start until the expiration of the current listing.
B) Explain that the broker cannot speak to her while she is under a listing contract with another broker to avoid violating Rule E-13.
C) Determine if the current broker is in breach before proceeding.
D) Tell her to wait and the broker will contact her once the current listing has expired. - ANSWERS✔-A) List the property but make sure the new
listing contract does not start until the expiration of the current listing.
\Q\.A broker is a principal buying a For Sale by Owner (FSBO) and the seller is NOT represented. What will the brokerage relationship be?
A) The buyer is an agent; the seller is a customer.
B) The buyer is a customer; the seller is the principal.
C) The broker is a transaction-broker to both parties.
D) The employing broker is an agent for the seller. - ANSWERS✔-A) The buyer is an agent; the seller is a customer.
\Q\.A broker lists the square footage of a new listing in the marketing materials. The listing broker must do all of the following EXCEPT
A) List the method used to measure the property.
B) Verify that the buyer received a copy of the disclosure.
, Colorado Real Estate Exam Questions
with correct answers
C) Personally measure or hire someone to measure the property.
D) Give the form to the buyer in a timely manner. - ANSWERS✔-C) Personally measure or hire someone to measure the property.
\Q\.A broker received an earnest money deposit with an offer from a buyer. Under Colorado law, the broker should
A) Open a separate trust account that will contain funds for this transaction only.
B) Deposit the money in an existing special non-interest bearing trust account in which all earnest money received from buyers may be held at
the same time.
C) Immediately deposit the earnest money in the broker's personal interest-bearing checking or savings account.
D) Hold the earnest money deposit in a secure place until acceptance. - ANSWERS✔-D) Hold the earnest money deposit in a secure place until
acceptance.
\Q\.A broker who fails to return a tenant's damage deposit could be liable for
A) Up to treble damages.
B) No more than the original deposit.
C) The deposit plus half of the monthly rent, if over 32 days.
D) Double the deposit. - ANSWERS✔-A) Up to treble damages.
\Q\.A broker's trust account must comply with all of the following EXCEPT
A) Be maintained in the name of the licensed brokerage.
B) Have only the broker authorized to withdraw funds.
C) Be insured by an agency of the federal government.
D) Be reconciled regularly to guard against commingling. - ANSWERS✔-B) Have only the broker authorized to withdraw funds.
\Q\.A brokerage firm acquired a contracts software program for use in the firm. After a month of use, a broker associate discovers that one of
the approved forms is missing a section. Per rule F, who is responsible for the error?
with correct answers
A broker and a seller agree orally to extend the term of an exclusive listing agreement. The seller is bound by the extended dates
A) As long as the broker gets a written agreement to amend/extend before the revised expiration date.
B) Because the statute of frauds permits oral modifications to written contracts.
C) If the written agreement to amend/extend is signed before the original expiration date.
D) Only if the broker gets a completely new listing agreement with the new date. - ANSWERS✔-C) If the written agreement to amend/extend is
signed before the original expiration date.
\Q\.A broker associate works for All Star Realty™. The broker must ensure all advertising, including social media, has the
A) Firm's trade name at least two times larger than the brokerage's name.
B) Firm's trade name as registered with the Department of Revenue.
C) Broker's name and firm's trade name the same size.
D) Brokerage's name as registered with the Colorado Real Estate Commission. - ANSWERS✔-D) Brokerage's name as registered with the
Colorado Real Estate Commission.
\Q\.A broker completed all of her required continuing education, but 15 days after her anniversary date, she still has not paid renewal fees for
her license. What is the current status of her license?
A) Inactive and may not sell real estate
B) Active but may not sell real estate
C) Expired
D) Active and may sell real estate if she pays within 30 days - ANSWERS✔-B) Active but may not sell real estate
\Q\.A broker developed a website to advertise the broker's office with the brokerage's name, location, and phone number. What additional
information does the broker need to include?
A)Name and address of the home office and the states in which the brokerage holds licenses
B) License number of the brokerage and list of current active licensees
C) Names of active licensees, addresses, and phone numbers
, Colorado Real Estate Exam Questions
with correct answers
D) No need for any additional disclosures - ANSWERS✔-D) No need for any additional disclosures
\Q\.A broker has a signed Exclusive Right-To-Buy Listing Contract. The broker may get her commission from
A) The buyer, the seller, or the listing broker.
B) Only from the listing broker or the seller; the buyer is under no obligation to pay.
C) The listing broker who must pay the negotiated fee at closing.
D) The buyer who must pay the fee at closing. - ANSWERS✔-A) The buyer, the seller, or the listing broker.
\Q\.A broker has been approached by a neighbor to list the neighbor's home. The property is currently listed with another company and the
neighbor said she only has two weeks left on the listing contract. The broker should
A) List the property but make sure the new listing contract does not start until the expiration of the current listing.
B) Explain that the broker cannot speak to her while she is under a listing contract with another broker to avoid violating Rule E-13.
C) Determine if the current broker is in breach before proceeding.
D) Tell her to wait and the broker will contact her once the current listing has expired. - ANSWERS✔-A) List the property but make sure the new
listing contract does not start until the expiration of the current listing.
\Q\.A broker is a principal buying a For Sale by Owner (FSBO) and the seller is NOT represented. What will the brokerage relationship be?
A) The buyer is an agent; the seller is a customer.
B) The buyer is a customer; the seller is the principal.
C) The broker is a transaction-broker to both parties.
D) The employing broker is an agent for the seller. - ANSWERS✔-A) The buyer is an agent; the seller is a customer.
\Q\.A broker lists the square footage of a new listing in the marketing materials. The listing broker must do all of the following EXCEPT
A) List the method used to measure the property.
B) Verify that the buyer received a copy of the disclosure.
, Colorado Real Estate Exam Questions
with correct answers
C) Personally measure or hire someone to measure the property.
D) Give the form to the buyer in a timely manner. - ANSWERS✔-C) Personally measure or hire someone to measure the property.
\Q\.A broker received an earnest money deposit with an offer from a buyer. Under Colorado law, the broker should
A) Open a separate trust account that will contain funds for this transaction only.
B) Deposit the money in an existing special non-interest bearing trust account in which all earnest money received from buyers may be held at
the same time.
C) Immediately deposit the earnest money in the broker's personal interest-bearing checking or savings account.
D) Hold the earnest money deposit in a secure place until acceptance. - ANSWERS✔-D) Hold the earnest money deposit in a secure place until
acceptance.
\Q\.A broker who fails to return a tenant's damage deposit could be liable for
A) Up to treble damages.
B) No more than the original deposit.
C) The deposit plus half of the monthly rent, if over 32 days.
D) Double the deposit. - ANSWERS✔-A) Up to treble damages.
\Q\.A broker's trust account must comply with all of the following EXCEPT
A) Be maintained in the name of the licensed brokerage.
B) Have only the broker authorized to withdraw funds.
C) Be insured by an agency of the federal government.
D) Be reconciled regularly to guard against commingling. - ANSWERS✔-B) Have only the broker authorized to withdraw funds.
\Q\.A brokerage firm acquired a contracts software program for use in the firm. After a month of use, a broker associate discovers that one of
the approved forms is missing a section. Per rule F, who is responsible for the error?
