Study guides, Class notes & Summaries

Colorado Law and Practice - PSI REAL ESTATE EXAM QUESTIONS AND ANSWERS 100% PASS Abandonment - Correct Answer ️️ -Non-payment of taxes Abstract of title - Correct Answer ️️ -A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause - Correct Answer ️️ -Upon default, all the principal installments come due to immediately Accesion - Correct Answer ️️ -owner of land is entitled to all the soil produces or all t...

Colorado Real Estate Exam – Questions with 100% Correct Answers Who of the following is exempt from real estate license law? - Correct Answer ️️ - Investors who own 12 investment properties and sell one to an owner-occupant The purpose of the CRE Commission is to... - Correct Answer ️️ -Protect the public of the state of CO in real estate matters If a broker is accused of a violation of license law in a complaint to the commission investigative staff and its determined that the ...

Colorado state Real Estate Exam Questions and Answers 100% Pass The Amend/Extend Contract With Broker is used to change : - Correct Answer ️️ -Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - Correct Answer ️️ -non-applicable financing conditions In preparing a Contract to Buy/Sell, a broker can not put exculpatory language into: - Correct Answer ️️ -A...

Colorado Real Estate Exam Prep Questions and Answers 100% Pass Title Theory - Correct Answer ️️ -lender owns, borrower has equitable title Hypothecation - Correct Answer ️️ -pledging property as collateral for a loan without giving up possession Mortgagee - Correct Answer ️️ -Lender Mortgagor - Correct Answer ️️ -borrower Non Judicial foreclosure - Correct Answer ️️ -*CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after ...

Colorado Real Estate- State Portion Questions and Answers 100% Pass Who usually deposits the earnest money check into escrow after a contract has been accepted? - Correct Answer ️️ -Listing Broker The licensee buy-out addendum must be used under all of the following conditions except: - Correct Answer ️️ -When a licensee is purchasing the property as a rental investment. What is the purpose of the real estate commission in Colorado? - Correct Answer ️️ -to protect the public ...

Colorado Real Estate Exam Prep State Portion Section 1 Duties and Powers of the Real Estate Commission and Section 2 Licensing Requirements Questions and Answers 100%Pass What is the purpose of Colorado real estate License Law - Correct Answer ️️ -Protect the public of the State of Colorado The purpose of the Colorado Real Estate Commission is to: - Correct Answer ️️ - Protect the public of the state of Colorado in real estate matters Acting as a real estate broker without a lice...

Colorado Practice Test for PSI Questions and Answers 100% Pass The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. D. will be an agent of the buyer. - Correct Answer ️️ -performs the services and represents the seller. Only a designated broker has an a...

PSI Colorado RE - Colorado Forms and Contracts Questions and Answers 100% Pass single party listing - Correct Answer ️️ -broker or seller has prospective buyer in mind - only valid if that prospect buys listing is only a few days Should have no hold over can use the exclusive right to sell or lease contract but must add commission specific provisions buyer representation agreement/Exclusive Right to Buy Listing Contract - Correct Answer ️️ -An agreement setting out a principal-a...

Colorado Real Estate Exam Prep Questions and Answers 100% Pass If a Seller carries back $12,000 at 10 percent interest and closes on July 9 with the first loan payment due September 1, the interest on the new loan on the settlement worksheet will be: - Correct Answer ️️ -$75.62 Debit Buyer & Credit Seller At a minimum an independent broker's written office policy must identify and describe: - Correct Answer ️️ -The relationships offered to the public by such broker Unless modifie...

Colorado Real Estate Exam Prep #2 Questions and Answers 100% Pass A buyer creates liquidated damages in the sales contract by - Correct Answer ️️ - Doing nothing, the contract will default to liquidated damages Colorado Common Interest Ownership Act requires: - Correct Answer ️️ -real property to be described in a declaration which obligates an individual unit owner to pay property tax, ins. premiums, maintenance or improvement on some declared real property owned in common When ...