COLORADO STATE PREP EXAM QUESTIONS
WITH ALL CORRECT & VERIFIED ANSWERS
Duties of the Colorado Real Estate Commission include all of the following EXCEPT Correct answer-
hearing disputes 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 Correct answer-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? Correct answer-The National Association of
REALTORS® ethics course
Errors and omissions professional liability insurance is required for all of the following EXCEPT
Correct answer-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? Correct
answer-Active but may not sell real estate
All of the following are required to have an active Colorado real estate license EXCEPT Correct
answer-an attorney selling property as part of an estate.
Brokers selling real estate must renew their license and errors and omission insurance every
Correct answer-three years for the license and every year for the errors and omissions insurance.
A broker associate works for All Star Realty™. The broker must ensure all advertising, including social
media, has the Correct answer-brokerage's name as registered with the Colorado Real Estate
Commission.
A Colorado broker associate referred her client to a broker in Florida. The Florida broker called to tell
her that the buyer's property in Florida will close soon and she wants to know where to send the
referral fee. Which of the following is TRUE about this referral fee? Correct answer-The fee must be
made payable to the brokerage firm.
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? Correct answer-
No need for any additional disclosures
As part of the requirement to supervise all associate brokers in the firm, the employing broker would
be required to do all of the following EXCEPT Correct answer-attend, or have a qualified broker
attend, all listing appointments, showings, and closings of any newly licensed broker associate for the
first month of licensure.
In Colorado, real estate commissions are negotiated Correct answer-between the parties.
An employing broker leaving town can delegate supervision of a broker associate to all of the
following EXCEPT Correct answer-an unlicensed office manager.
, 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 Correct answer-list the property but make sure the new listing
contract does not start until the expiration of the current listing.
The Colorado Real Estate Commission requires all brokerage firms to have a written office policy to
give broker associates a full understanding of the firm's operations. Which of these is the only item
required by statute to be in writing? Correct answer-The brokerage relationships the firm offers
and how brokers are designated
When the seller offers to assist with the buyer's down payment or gives other concessions, the
broker should help safeguard everyone's interest by doing all of the following EXCEPT Correct
answer-informing the Colorado Real Estate Commission and title company.
An unlicensed assistant may do all of the following to support the efforts of a licensed broker EXCEPT
Correct answer-prepare a comparative market analysis and present it to a seller
A seller received a flyer and a phone call from a broker at XYZ Realty, suggesting that the seller list
with the firm and that broker. The seller's home is actively listed with ABC Realty. Is there any issue
with XYZ Realty's solicitation? Correct answer-Yes, the brokerage may send flyers with a disclaimer
but may not make phone calls.
The minimum right-to-cure period for non-agricultural and agricultural property in Colorado is
Correct answer-110 days for non-agricultural and 215 days for agricultural.
Which of the following is NOT true regarding Colorado property taxes? Correct answer-If taxpayers
choose to make one payment, they must continue to make only single payments for as long as they
own the property.
All of the following are true about Colorado fair housing law EXCEPT Correct answer-disabled
tenants must make a request to the owner or management company in order to make reversible
changes to their unit.
If an associate broker agrees to manage rental properties for a friend, the associate broker must
Correct answer-have the employing broker sign a management agreement and establish the trust
accounts for the management assignment
A broker who fails to return a tenant's damage deposit could be liable for Correct answer-up to
treble damages.
The required minimum notice to quit for a tenant under a tenancy at will is Correct answer-3 days.
Upon filing the election and demand with the public trustee, the next step in a foreclosure is the
Correct answer-public trustee will advertise the foreclosure sale.
In a single party listing, which of the following provisions or contingencies does NOT apply? Correct
answer-Holdover
A broker lists the square footage of a new listing in the marketing materials. The listing broker must
do all of the following EXCEPT Correct answer-personally measure or hire someone to measure the
property.
WITH ALL CORRECT & VERIFIED ANSWERS
Duties of the Colorado Real Estate Commission include all of the following EXCEPT Correct answer-
hearing disputes 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 Correct answer-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? Correct answer-The National Association of
REALTORS® ethics course
Errors and omissions professional liability insurance is required for all of the following EXCEPT
Correct answer-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? Correct
answer-Active but may not sell real estate
All of the following are required to have an active Colorado real estate license EXCEPT Correct
answer-an attorney selling property as part of an estate.
Brokers selling real estate must renew their license and errors and omission insurance every
Correct answer-three years for the license and every year for the errors and omissions insurance.
A broker associate works for All Star Realty™. The broker must ensure all advertising, including social
media, has the Correct answer-brokerage's name as registered with the Colorado Real Estate
Commission.
A Colorado broker associate referred her client to a broker in Florida. The Florida broker called to tell
her that the buyer's property in Florida will close soon and she wants to know where to send the
referral fee. Which of the following is TRUE about this referral fee? Correct answer-The fee must be
made payable to the brokerage firm.
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? Correct answer-
No need for any additional disclosures
As part of the requirement to supervise all associate brokers in the firm, the employing broker would
be required to do all of the following EXCEPT Correct answer-attend, or have a qualified broker
attend, all listing appointments, showings, and closings of any newly licensed broker associate for the
first month of licensure.
In Colorado, real estate commissions are negotiated Correct answer-between the parties.
An employing broker leaving town can delegate supervision of a broker associate to all of the
following EXCEPT Correct answer-an unlicensed office manager.
, 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 Correct answer-list the property but make sure the new listing
contract does not start until the expiration of the current listing.
The Colorado Real Estate Commission requires all brokerage firms to have a written office policy to
give broker associates a full understanding of the firm's operations. Which of these is the only item
required by statute to be in writing? Correct answer-The brokerage relationships the firm offers
and how brokers are designated
When the seller offers to assist with the buyer's down payment or gives other concessions, the
broker should help safeguard everyone's interest by doing all of the following EXCEPT Correct
answer-informing the Colorado Real Estate Commission and title company.
An unlicensed assistant may do all of the following to support the efforts of a licensed broker EXCEPT
Correct answer-prepare a comparative market analysis and present it to a seller
A seller received a flyer and a phone call from a broker at XYZ Realty, suggesting that the seller list
with the firm and that broker. The seller's home is actively listed with ABC Realty. Is there any issue
with XYZ Realty's solicitation? Correct answer-Yes, the brokerage may send flyers with a disclaimer
but may not make phone calls.
The minimum right-to-cure period for non-agricultural and agricultural property in Colorado is
Correct answer-110 days for non-agricultural and 215 days for agricultural.
Which of the following is NOT true regarding Colorado property taxes? Correct answer-If taxpayers
choose to make one payment, they must continue to make only single payments for as long as they
own the property.
All of the following are true about Colorado fair housing law EXCEPT Correct answer-disabled
tenants must make a request to the owner or management company in order to make reversible
changes to their unit.
If an associate broker agrees to manage rental properties for a friend, the associate broker must
Correct answer-have the employing broker sign a management agreement and establish the trust
accounts for the management assignment
A broker who fails to return a tenant's damage deposit could be liable for Correct answer-up to
treble damages.
The required minimum notice to quit for a tenant under a tenancy at will is Correct answer-3 days.
Upon filing the election and demand with the public trustee, the next step in a foreclosure is the
Correct answer-public trustee will advertise the foreclosure sale.
In a single party listing, which of the following provisions or contingencies does NOT apply? Correct
answer-Holdover
A broker lists the square footage of a new listing in the marketing materials. The listing broker must
do all of the following EXCEPT Correct answer-personally measure or hire someone to measure the
property.
