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
, Exam- Colorado Real Estate Exam with Complete
Solutions
D) Active and may sell real estate if she pays within 30 days Correct Answer-B) Active but
may not sell real estate
All of the following are required to have an active Colorado real estate license EXCEPT
A) An attorney who lists and sells property in addition to practicing law.
B) A mortgage broker who helps buyers find and buy homes.
C) A business opportunity salesperson selling a franchise with a leasehold estate.
D) An attorney selling property as part of an estate. Correct Answer-D) An attorney selling
property as part of an estate.
Brokers selling real estate must renew their license and errors and omission insurance every
A) Three years for the license and every two years for the errors and omissions insurance.
B) Year for the license and every three years for the errors and omissions insurance.
C) Three years for the license and every year for the errors and omissions insurance.
D) Three years for the license and every three years for the errors and omissions insurance.
Correct Answer-C) Three years for the license and every year for the errors and omissions
insurance.
, Exam- Colorado Real Estate Exam with Complete
Solutions
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. Correct
Answer-D) 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?
A) The broker associate must deposit the fee into a trust account for holding until after
closing.
B) The fee must be made payable to the brokerage firm.
C) The broker associate does not need to inform anyone of the fee and can deposit it into her
personal account.
D) The broker associate needs to split the fee 50/50 with the brokerage. Correct Answer-B)
The fee must be made payable to the brokerage firm.
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