Colorado Real Estate Exam – Questions And Answers (Solved)
Title Theory - CORRECT ANSWERS<<>>>lender owns, borrower has equitable title
Hypothecation - CORRECT ANSWERS<<>>>pledging property as collateral for a
loan without giving up possession
Mortgagee - CORRECT ANSWERS<<>>>Lender
Mortgagor - CORRECT ANSWERS<<>>>borrower
Non Judicial foreclosure - CORRECT ANSWERS<<>>>*CO: Public trustee has
power to foreclose
1.Lender complains 2. Notice given 3. trustee sells after 125 days
Strict foreclosure - CORRECT ANSWERS<<>>>No sale.
Full legal title given to lender, loss of equity for borrower
Judicial foreclosure - CORRECT ANSWERS<<>>>done through courts in *Title
Theory states
Conversion - CORRECT ANSWERS<<>>>illegal use of entrusted money
Comingling - CORRECT ANSWERS<<>>>mixing client monies or mixing with
personal monies
Express Agency - CORRECT ANSWERS<<>>>Actual, formal written agreement
establishing terms and conditions
,Gross Income Multiplyer - CORRECT ANSWERS<<>>>=sale price/gross ANNUAL
income
large rental or commercial property
Government deed limitations - CORRECT ANSWERS<<>>>Police power
eminent domain
taxation
escheat
Private deed limitations - CORRECT ANSWERS<<>>>deed restrictions
mortgages
leases
easements
Tennancy at Sufference - CORRECT ANSWERS<<>>>tenant has remained past
lease terms
can be evicted
Township squares - CORRECT ANSWERS<<>>>6x6 mi wide squares
Periodic Tenancy - CORRECT ANSWERS<<>>>No specific duration but notice must
be given
ex. week to week, month to month
Tenancy for years - CORRECT ANSWERS<<>>>specific time limit
no notice to vacate unless written in
Terminating an estate - CORRECT ANSWERS<<>>>eminent domain
voluntary alienation
, adverse possession
Eminent domain - CORRECT ANSWERS<<>>>right of government to acquire
private property for public use
Bounds - CORRECT ANSWERS<<>>>direction
Ranges - CORRECT ANSWERS<<>>>6 mi wide strips running north and south
parallel to principal meridians
Transaction Broker - CORRECT ANSWERS<<>>>disclose known defects and
material facts
help to explain and understand without prejudice or advise
negotiate sale without representation
section - CORRECT ANSWERS<<>>>640 acres
1 square mile
36 per township square
brokerage - CORRECT ANSWERS<<>>>the business of bringing parties together
negligent misrepresentation - CORRECT ANSWERS<<>>>broker SHOULD HAVE
known and is liable for damages
E and O insurance will cover
township tiers - CORRECT ANSWERS<<>>>6 mi wide strips running east and west
parallel to base lines
Title Theory - CORRECT ANSWERS<<>>>lender owns, borrower has equitable title
Hypothecation - CORRECT ANSWERS<<>>>pledging property as collateral for a
loan without giving up possession
Mortgagee - CORRECT ANSWERS<<>>>Lender
Mortgagor - CORRECT ANSWERS<<>>>borrower
Non Judicial foreclosure - CORRECT ANSWERS<<>>>*CO: Public trustee has
power to foreclose
1.Lender complains 2. Notice given 3. trustee sells after 125 days
Strict foreclosure - CORRECT ANSWERS<<>>>No sale.
Full legal title given to lender, loss of equity for borrower
Judicial foreclosure - CORRECT ANSWERS<<>>>done through courts in *Title
Theory states
Conversion - CORRECT ANSWERS<<>>>illegal use of entrusted money
Comingling - CORRECT ANSWERS<<>>>mixing client monies or mixing with
personal monies
Express Agency - CORRECT ANSWERS<<>>>Actual, formal written agreement
establishing terms and conditions
,Gross Income Multiplyer - CORRECT ANSWERS<<>>>=sale price/gross ANNUAL
income
large rental or commercial property
Government deed limitations - CORRECT ANSWERS<<>>>Police power
eminent domain
taxation
escheat
Private deed limitations - CORRECT ANSWERS<<>>>deed restrictions
mortgages
leases
easements
Tennancy at Sufference - CORRECT ANSWERS<<>>>tenant has remained past
lease terms
can be evicted
Township squares - CORRECT ANSWERS<<>>>6x6 mi wide squares
Periodic Tenancy - CORRECT ANSWERS<<>>>No specific duration but notice must
be given
ex. week to week, month to month
Tenancy for years - CORRECT ANSWERS<<>>>specific time limit
no notice to vacate unless written in
Terminating an estate - CORRECT ANSWERS<<>>>eminent domain
voluntary alienation
, adverse possession
Eminent domain - CORRECT ANSWERS<<>>>right of government to acquire
private property for public use
Bounds - CORRECT ANSWERS<<>>>direction
Ranges - CORRECT ANSWERS<<>>>6 mi wide strips running north and south
parallel to principal meridians
Transaction Broker - CORRECT ANSWERS<<>>>disclose known defects and
material facts
help to explain and understand without prejudice or advise
negotiate sale without representation
section - CORRECT ANSWERS<<>>>640 acres
1 square mile
36 per township square
brokerage - CORRECT ANSWERS<<>>>the business of bringing parties together
negligent misrepresentation - CORRECT ANSWERS<<>>>broker SHOULD HAVE
known and is liable for damages
E and O insurance will cover
township tiers - CORRECT ANSWERS<<>>>6 mi wide strips running east and west
parallel to base lines
