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Exam-State Portion- Colorado Real Estate Questions with Answers Rated A+
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Exam-State Portion- Colorado Real Estate Questions with Answers Rated A+
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Exam-State Portion- Colorado Real Estate Questionswith Answers Rated A+
A real estate broker filling out a listing agreement finds that there is not enough room for the
legal description. The broker may: Correct Answer-Attach the legal description as
information may be added outside the body of the contract
A licensee may accept compensation from: Correct Answer-The licensees employing
broker only
When a licensee uses a licensee buyout addendum you are putting the seller on notice that:
Correct Answer-The buyer is a licensee, the buyer may make a profit and the seller may
incur a loss.
When must a listing broker disclose to a potential buyer the broker's working relationship
with the seller? Correct Answer-In writing before receiving or eliciting confidential
information
Agent Mike is the broker owner of AAA Realty, a trade name registered with the state of
Colorado and licensed with the Colorado Real Estate Commission. Which of the following is
, Exam-State Portion- Colorado Real Estate Questions
with Answers Rated A+
correct? Correct Answer-All licensees employed by Mike must only do business under AAA
Realty
According to Real Estate Commission rules - who has responsibility for the accuracy of a
closing? Correct Answer-The designated broker, the employing broker and any substitute
broker
A new loan for $165,000 is taken out at 6 1/2 % by the buyer the closing is May 16. How will
the interest be shown on the settlement sheet? Correct Answer-$470.13 debit to the
buyer, credit to the broker
For a deed to be valid in Colorado, which of the following must be true concerning the
grantor's signature? Correct Answer-The grantor's signature is required
The Colorado law that requires real estate contracts to be in writing is called the: Correct
Answer-Statue of frauds
, Exam-State Portion- Colorado Real Estate Questions
with Answers Rated A+
A Seller signs an offer prior to the acceptance time and date. Before the offer is returned to
the Buyer, the Buyer withdraws the offer. This offer is: Correct Answer-void and not
binding as it was withdrawn before delivery to the Buyer
When a Seller decides to submit a Counterproposal in response to a Contract to Buy and Sell,
the Seller: Correct Answer-Carefully signs and submits only the Counterproposal
Earnest money checks received by a broker in connection with a real estate purchase contract
must be; Correct Answer-Placed in brokers escrow account within 3 days of acceptance of
contract.
How is the broker's fee usually shown on the settlement statement? Correct Answer-Debit
to the seller, credit to the broker
Which of the following is contained in the preprinted portion of a purchase and sale contract?
Correct Answer-Preowned home warranty information
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