Exam-Colorado Real Estate Exam with Complete
Solutions
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 violation probably happened, the commission...
Correct Answer-May decide to refer the matter to a hearing before an appointed
administrative law judge
If judge finds broker in violation, penalties include public censure, license suspension, license
revocation or fine of no more than $2,500.
Commission doesn't have authority to determine damages or order restitution.
The real estate commission must investigate... Correct Answer-Any verified written
complaint.
, Exam-Colorado Real Estate Exam with Complete
Solutions
The commission doesn't deal with disputes b/t brokers.
In order to be the broker of record for a corporation, a person must hold... Correct Answer-
A valid active CO broker's license.
In March 2001, the law removed the requirement for ownership and office/director status.
In the event that the employing broker of a corporate brokerage is suddenly unable to
continue in that position, the commission may issue a temporary "hardship" license to any....
Correct Answer-CO licensee approved by the corporate board of directors.
Licensee can either be a broker or a salesperson.
Sole proprietorship has no business entity and much rehire all employed licensees and
renegotiate all listings.
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