Colorado Real Estate Exam Questions and Answers 100% Correct

Duties of the Colorado Real Estate Commission include all of the following EXCEPT A) Investigation of verified written complaints. B) Approving errors and omissions carriers. C) Creating the Annual Commission Update course each year. D) Hearing disputes between brokers. - ANSWER-D) Hearing disputed between brokers. A buyer in a closed transaction has filed a complaint with the Colorado Real Estate Commission, claiming the buyer's agent misrepresented the property. The Commission, in responding to a complaint, would A) Use its subpoena power to request records from the agent/broker's brokerage firm. B) Start a lawsuit on behalf of the buyer. C) Seize all the brokerage firm's records. D) Request the agent/broker supply a response in writing. - ANSWER-D) Request the agent/broker supply a response in writing. Which of the following could a Colorado real estate broker use toward meeting the 12 hours of required elective continuing education credits? A) An exam prep class taken to prepare for the state portion of the licensing exam B) A brokerage firm's orientation and personal marketing course C) Passing the national portion of the broker licensing exam D) The National Association of REALTORS® ethics course - ANSWER-D) The National Association of REALTORS® ethics course Errors and omissions professional liability insurance is required for all of the following EXCEPT A) Inactive licensees. B) Active licensees. C) All license applicants. D) Employing brokers. - ANSWER-A) Inactive licensees. 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 - ANSWER-B) Active but may not sell real estate