Colorado Real Estate Exam Questions And Well Elaborated Solutions. Verified 100% Correct
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Course
Colorado Real Estate
Institution
Colorado Real Estate
Colorado Real Estate Exam Questions And
Well Elaborated Solutions. Verified 100%
Correct
Which of the following could a Colorado real estate broker use toward meeting the 12
hours of required elective continuing education credits?
A) An exam prep class taken to prepare for the stat...
Colorado Real Estate Exam Questions And
Well Elaborated Solutions. Verified 100%
Correct
Which of the following could a Colorado real estate broker use toward meeting the 12
hours of required elective continuing education credits?
A) An exam prep class taken to prepare for the state portion of the licensing exam
B) A brokerage firm's orientation and personal marketing course
C) Passing the national portion of the broker licensing exam
D) The National Association of REALTORS® ethics course - ANSWER D) The National
Association of REALTORS® ethics course
Errors and omissions professional liability insurance is required for all of the following
EXCEPT
A) Inactive licensees.
B) Active licensees.
C) All license applicants.
D) Employing brokers. - ANSWER A) 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?
A) Inactive and may not sell real estate
B) Active but may not sell real estate
C) Expired
D) Active and may sell real estate if she pays within 30 days - 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. - 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. - ANSWER C) 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
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. -
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. - ANSWER B)
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?
A)Name and address of the home office and the states in which the brokerage holds
licenses
B) License number of the brokerage and list of current active licensees
C) Names of active licensees, addresses, and phone numbers
D) No need for any additional disclosures - ANSWER D) 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
A) Review all real estate contracts brought to the firm by all associate brokers.
B) 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.
C) Have a written office policy that all broker associates must sign stating they have
read it and agree to follow it.
D) Give newly licensed broker associates a higher level of supervision, including being
available or having a qualified broker available to answer questions. - ANSWER B)
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.
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