| latest update 2024/25|COLORADO REAL ESTATE STATE EXAM PART 1: EXAM REVIEW QUESTIONS AND ANSWERS, WITH RATIONALE/ GRADED A+/

| latest update 2024/25|COLORADO REAL ESTATE STATE EXAM PART 1: EXAM REVIEW QUESTIONS AND ANSWERS, WITH RATIONALE/ GRADED A+/ According to the Exclusive-Right-To-Sell Listing Contract, what happens to the earnest money if the buyer defaults? a.The seller and listing broker evenly split the funds b.The mediator decides who receives the funds c.The seller gets the funds d.The buyer receives the funds back - -c.The seller gets the funds Buyer is in default If a broker moves his place of business without advising the Real Estate Commission: A. His license is inactivated but not licensees working for him B. His license and all associate brokers working for him are inactivated C. The licenses of all associate brokers under him are inactivated - -B. His license and all associate brokers working for him are inactivated Buyer Jones makes a full price offer to purchase, to seller Smith, who rejects the offer outright. What recourse does Jones have? A. Sue Smith for damages B. Sue Smith for specific performance C. Sue for damages and specific performance D. Buyer Jones cannot sue - -D. Buyer Jones cannot sue When a seller wishes to counter an offer made by a purchaser, which of the following documents should be signed by the seller? A. The purchase and sale contract B. The counter offer C. The purchase and sale contract and the counter offer D. The purchase and sale contract after the appropriate changes have been stricken or changed and initialed - -B. The counter offer An agent sells a mobile home. Its purpose will be a residence, with the transfer of real property. What kind of license is needed? A. Motor vehicle license B. Real estate license C. Mobile home dealer's license D. Mobile home vehicle license - -B. Real estate license The sale of real property requires a real estate license. The authority to carry out eviction of a delinquent tenant from rented property is held by: A. a landlord B. the sheriff C. any of the above - -B. the sheriff The short version is this - a landlord may req