COLORADO TEST CONTRACT EXAM REVIEW QUESTIONS AND ANSWERS. 100% ACCURATE.| latest update 2024/25|

COLORADO TEST CONTRACT EXAM REVIEW QUESTIONS AND ANSWERS. 100% ACCURATE. The Colorado Real Estate Commission requires subdivision registration for all of the following EXCEPT: A- residential time-shares. B- residential apartment-to-condominium conversions. C- bulk land sales between developers. D- properties subdivided into 20 or more residential lots. C - bulk land sales between developers. The Exclusive Right-to-Buy contract provides for payment of the brokerage firm's fee by optional instruction for the: A- Broker to request payment from the listing brokerage firm with the buyer obligated to pay any difference between that amount and the total fee. B- Broker to request payment from the seller with the buyer NOT obligated to pay any part of the fee. C- Buyer to pay the entire fee. D- All of the above. D- All of the above. A brokerage relationship between a buyer and a broker includes: A- Only the buyer and the broker. B- The buyer, the broker and the supervising broker. C- The buyer, the broker and the employing broker. D- Both b. and c. are correct. A- Only the buyer and the broker. The purpose of the "Real Property Transfer Declaration (TD- 1000)" is to: A- assist the county assessor in fair and uniform assessments for all property for property tax purposes. B- Remit the 2% out of state tax withhold to the Colorado Department of Revenue. C- provide sales data to the county treasurer for tax purposes. D- document personal property value to the Colorado Department of Revenue for the collection of state sales and use tax. A- assist the county assessor in fair and uniform assessments for all property for property tax purposes. The Contract to Buy and Sell Real Estate provides for agreement allowing signatures to be evidenced by electronic delivery. Original signatures: A- are no longer required. B- shall be provided upon request of any party. C- shall be provided to the other party within 72 hours of contract acceptance. D- are required on all documents retained by the broker for later inspection by the Colorado Real Estate Commission. B- shall be provided upon request of any party. If the seller ignores the buyers' request for repairs in the "Notice to Correct," the buyers may still purchase the property if they withdraw the "Notice to Correct:" A- three days after the "Inspection Objection Deadline." B- two days after the "Governing Documents & Title Inspection Deadline." C- on or before the end of the "Inspection Resolution Deadline" D- the buyer does not have the option of waiving the "Notice to Correct." C- on or before the end of the "Inspection Resolution Deadline" Client confidential information does NOT include: A- Knowledge of latent defects. B- Seller's willingness to accept less than the list price. C- Buyer motives for purchasing