COLORADO PSI REAL ESTATE QUESTION BANK
WITH RATIONALES 2025 COMPLETE ACTUAL
EXAM QUESTIONS WITH DETAILED VERIFIED
ANSWERS | ALREADY GRADED A+ |
GUARANTEED PASS
Which of the following is a true statement concerning escrow accounts?
1. There is no reconciliation procedure for escrow accounts.
2. An employed broker may hold an escrow account for the company.
3. Each escrow account must have a corresponding set of office accounting
records.
4. An interest-bearing account does not need a description. - ✔✔✔ Correct
Answer > 3. Each escrow account must have a corresponding set of office
accounting records.
This answer is right because each escrow account must have a corresponding
set of office accounting records. Only an employing broker may hold an escrow
account for the company. Interest-bearing passport accounts or certificates of
deposit must have a description of their purpose. Rule E describes the
reconciliation process required for escrow accounts.
Compucram
Record Keeping and Trust Accounts
,ID: 33789
At least one version of the Commission-approved Contract to Buy and Sell Real
Estate form has a provision (checkbox) on page 1 for "Property with No
Residences". The _________________ form is one of them.
1. Income-Residential
2. Commercial
3. Residential
4. Residential (Colorado Foreclosure Protection Act) - ✔✔✔ Correct Answer > 2.
Commercial
This answer is right because the Commercial CBS provision (checkbox) does
include a provision (checkbox) for property with no residences. The Income-
Residential CBS does not have a provision (checkbox) for property with no
residences. The CBS used with foreclosures does not include any checkbox
provision. The Residential CBS does not have a checkbox.
Compucram
Colorado Forms and Contracts
ID: 32795
When a buyers' Contract to Buy and Sell Real estate is delivered to the listing
broker, which of the following is a responsibility of either brokers?
1. All of the answers.
,2. The selling broker must deliver the buyer's contract and the buyer's earnest
money to the listing broker.
3. The listing broker must deposit the earnest money into the brokerage trust
account no later than the 3rd calendar day after contract acceptance.
4. The listing broker must complete an Earnest Money Receipt form only if the
monies are being deposited with a third party. - ✔✔✔ Correct Answer > 1. All of
the answers.
This answer is right because Commission Rule E-1 requires the selling broker to
deliver the contract and the earnest money to the listing broker unless the
parties have otherwise agreed in writing. The listing broker is required to
deposit an earnest money check addressed to the broker in the broker's escrow
account no later than the 3rd business day following the day of contract
acceptance. The listing broker must complete the Earnest Money Receipt if the
listing broker is the earnest money holder.
Compucram
Colorado Forms and Contracts
ID: 32743
If a licensee is found guilty of committing or attempting to commit any prohibited
acts, the Commission can do any of the following EXCEPT
1. fine the licensee up to $10,000 for each separate offense.
2. place the licensee on probation.
3. require the licensee to complete educational coursework.
4. censure the licensee. - ✔✔✔ Correct Answer > 1. fine the licensee up to
$10,000 for each separate offense.
, Correct. The Commission can fine a licensee up to $2,500 for each separate
offense.
Oncourselearning "Proschools"
Colorado Real Estate Contracts and Regulations
Colorado Real Estate Commission
Which of the following deadlines has been added in 2016 to Colorado's
Commission-approved forms?
1. Alternate Earnest Money Deadline
2. Appraisal Resolution Deadline
3. Right of First Refusal Deadline
4. Inspection Resolution Deadline - ✔✔✔ Correct Answer > 2. Appraisal
Resolution Deadline
This answer is right because the appraisal resolution deadline has been added
to the Commission-approved forms effective 1-6-16.
Compucram
Colorado Forms and Contracts
ID: 32778
When the Commission-approved Counterproposal form is used, which of the
following occurs?
WITH RATIONALES 2025 COMPLETE ACTUAL
EXAM QUESTIONS WITH DETAILED VERIFIED
ANSWERS | ALREADY GRADED A+ |
GUARANTEED PASS
Which of the following is a true statement concerning escrow accounts?
1. There is no reconciliation procedure for escrow accounts.
2. An employed broker may hold an escrow account for the company.
3. Each escrow account must have a corresponding set of office accounting
records.
4. An interest-bearing account does not need a description. - ✔✔✔ Correct
Answer > 3. Each escrow account must have a corresponding set of office
accounting records.
This answer is right because each escrow account must have a corresponding
set of office accounting records. Only an employing broker may hold an escrow
account for the company. Interest-bearing passport accounts or certificates of
deposit must have a description of their purpose. Rule E describes the
reconciliation process required for escrow accounts.
Compucram
Record Keeping and Trust Accounts
,ID: 33789
At least one version of the Commission-approved Contract to Buy and Sell Real
Estate form has a provision (checkbox) on page 1 for "Property with No
Residences". The _________________ form is one of them.
1. Income-Residential
2. Commercial
3. Residential
4. Residential (Colorado Foreclosure Protection Act) - ✔✔✔ Correct Answer > 2.
Commercial
This answer is right because the Commercial CBS provision (checkbox) does
include a provision (checkbox) for property with no residences. The Income-
Residential CBS does not have a provision (checkbox) for property with no
residences. The CBS used with foreclosures does not include any checkbox
provision. The Residential CBS does not have a checkbox.
Compucram
Colorado Forms and Contracts
ID: 32795
When a buyers' Contract to Buy and Sell Real estate is delivered to the listing
broker, which of the following is a responsibility of either brokers?
1. All of the answers.
,2. The selling broker must deliver the buyer's contract and the buyer's earnest
money to the listing broker.
3. The listing broker must deposit the earnest money into the brokerage trust
account no later than the 3rd calendar day after contract acceptance.
4. The listing broker must complete an Earnest Money Receipt form only if the
monies are being deposited with a third party. - ✔✔✔ Correct Answer > 1. All of
the answers.
This answer is right because Commission Rule E-1 requires the selling broker to
deliver the contract and the earnest money to the listing broker unless the
parties have otherwise agreed in writing. The listing broker is required to
deposit an earnest money check addressed to the broker in the broker's escrow
account no later than the 3rd business day following the day of contract
acceptance. The listing broker must complete the Earnest Money Receipt if the
listing broker is the earnest money holder.
Compucram
Colorado Forms and Contracts
ID: 32743
If a licensee is found guilty of committing or attempting to commit any prohibited
acts, the Commission can do any of the following EXCEPT
1. fine the licensee up to $10,000 for each separate offense.
2. place the licensee on probation.
3. require the licensee to complete educational coursework.
4. censure the licensee. - ✔✔✔ Correct Answer > 1. fine the licensee up to
$10,000 for each separate offense.
, Correct. The Commission can fine a licensee up to $2,500 for each separate
offense.
Oncourselearning "Proschools"
Colorado Real Estate Contracts and Regulations
Colorado Real Estate Commission
Which of the following deadlines has been added in 2016 to Colorado's
Commission-approved forms?
1. Alternate Earnest Money Deadline
2. Appraisal Resolution Deadline
3. Right of First Refusal Deadline
4. Inspection Resolution Deadline - ✔✔✔ Correct Answer > 2. Appraisal
Resolution Deadline
This answer is right because the appraisal resolution deadline has been added
to the Commission-approved forms effective 1-6-16.
Compucram
Colorado Forms and Contracts
ID: 32778
When the Commission-approved Counterproposal form is used, which of the
following occurs?
