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Real Estate Express Colorado Closings Final Version
1&2 Newest 2025/2026 Complete All 300 Questions
And Correct Answers |Already Graded A+||Latest
Verified Exam!!!
Which of the following is not permitted in a contract
lawsuit?
a. Liquidated damages
b. Actual damages
c. Specific performance
d. Punitive damages - Answer-d. Punitive damages
A non-conforming loan fails to meet whose underwriting
standards?
a. The primary lender
b. The provider of the mortgagee title policy
c. Fannie Mae
d. The PMI insurer - Answer-c. Fannie Mae
What is the major difference between a title commitment
and a title abstract?
a. An abstract does not create an obligation to insure title.
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b. An abstract is longer.
c. A title commitment is not reviewed as closely by an
attorney.
d. A title searcher does not have to go as far back in time
with a title commitment. - Answer-a. An abstract does not
create an obligation to insure title.
At closing Bill Buyer brings a certified check, but he made
a mistake on the amount, not realizing he owes $36 for
recording the deed. He writes a personal check to the
closing agent. The agent calls Bill's bank to verify he has
the funds to cover the check. Can the closing agent accept
it?
a. No, because the Good Funds Rule only b. allows
disbursement from funds wired in.
b. Yes, because the agent checked with the bank.
c. No, because checking with the bank does not satisfy the
Good Funds Rule.
d. Yes, the Good Funds Rule would allow it because of the
size of the check. - Answer-d. Yes, the Good Funds Rule
would allow it because of the size of the check.
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What is the difference in the proration amount for a $1000
item if closing is on June 6 using the 365 day vs. the 12
mo/30 method of calculation? There are 156 days
between January 1 and June 6, including June 6.
a. $3.21
b. $3.18
c. $3.25
d. None of the above - Answer-d. None of the above
Which of the following is not required with regard to
transferring property owned by a corporation?
a. The corporation must always file a certificate of
incorporation in each county where it holds real property.
b. The deed must be signed by an officer with the power to
convey property.
c. The corporation must always file the articles of
incorporation in the county where it holds property.
d. None of the answers are required. - Answer-a. The
corporation must always file a certificate of incorporation in
each county where it holds real property.
For an item a buyer pays in arrears, which of the following
is true?
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a. The buyer receives a credit and the broker receives a
debit.
b. The buyer receives a credit and the seller receives a
debit.
c. The buyer receives a debit and the seller receives a
credit.
d. The seller receives a credit and the broker receives a
debit. - Answer-b. The buyer receives a credit and the
seller receives a debit.
What are the advantages of a conventional loan?
a. The risk is less than for other kinds of loans.
b. The interest rates are usually lower than on other loans.
c. The loans are easier to obtain than other loans.
d. The terms and rates are more flexible than other loans.
- Answer-b. The interest rates are usually lower than on
other loans.
What are the documentary fees in a transaction where the
purchase price is $100,000 and the mortgage amount is
$50,000, assuming no local transfer fees?
a. None, since the fees would be less than $500
Real Estate Express Colorado Closings Final Version
1&2 Newest 2025/2026 Complete All 300 Questions
And Correct Answers |Already Graded A+||Latest
Verified Exam!!!
Which of the following is not permitted in a contract
lawsuit?
a. Liquidated damages
b. Actual damages
c. Specific performance
d. Punitive damages - Answer-d. Punitive damages
A non-conforming loan fails to meet whose underwriting
standards?
a. The primary lender
b. The provider of the mortgagee title policy
c. Fannie Mae
d. The PMI insurer - Answer-c. Fannie Mae
What is the major difference between a title commitment
and a title abstract?
a. An abstract does not create an obligation to insure title.
,2|Page
b. An abstract is longer.
c. A title commitment is not reviewed as closely by an
attorney.
d. A title searcher does not have to go as far back in time
with a title commitment. - Answer-a. An abstract does not
create an obligation to insure title.
At closing Bill Buyer brings a certified check, but he made
a mistake on the amount, not realizing he owes $36 for
recording the deed. He writes a personal check to the
closing agent. The agent calls Bill's bank to verify he has
the funds to cover the check. Can the closing agent accept
it?
a. No, because the Good Funds Rule only b. allows
disbursement from funds wired in.
b. Yes, because the agent checked with the bank.
c. No, because checking with the bank does not satisfy the
Good Funds Rule.
d. Yes, the Good Funds Rule would allow it because of the
size of the check. - Answer-d. Yes, the Good Funds Rule
would allow it because of the size of the check.
,3|Page
What is the difference in the proration amount for a $1000
item if closing is on June 6 using the 365 day vs. the 12
mo/30 method of calculation? There are 156 days
between January 1 and June 6, including June 6.
a. $3.21
b. $3.18
c. $3.25
d. None of the above - Answer-d. None of the above
Which of the following is not required with regard to
transferring property owned by a corporation?
a. The corporation must always file a certificate of
incorporation in each county where it holds real property.
b. The deed must be signed by an officer with the power to
convey property.
c. The corporation must always file the articles of
incorporation in the county where it holds property.
d. None of the answers are required. - Answer-a. The
corporation must always file a certificate of incorporation in
each county where it holds real property.
For an item a buyer pays in arrears, which of the following
is true?
, 4|Page
a. The buyer receives a credit and the broker receives a
debit.
b. The buyer receives a credit and the seller receives a
debit.
c. The buyer receives a debit and the seller receives a
credit.
d. The seller receives a credit and the broker receives a
debit. - Answer-b. The buyer receives a credit and the
seller receives a debit.
What are the advantages of a conventional loan?
a. The risk is less than for other kinds of loans.
b. The interest rates are usually lower than on other loans.
c. The loans are easier to obtain than other loans.
d. The terms and rates are more flexible than other loans.
- Answer-b. The interest rates are usually lower than on
other loans.
What are the documentary fees in a transaction where the
purchase price is $100,000 and the mortgage amount is
$50,000, assuming no local transfer fees?
a. None, since the fees would be less than $500
