Colorado Real Estate Exam: Questions & Answers:
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The minimum right-to-cure period for non-agricultural and agricultural property in
Colorado is
A) 215 days for non-agricultural and 230 days for agricultural.
B) 110 days for non-agricultural and 215 days for agricultural.
C) 100 days for non-agricultural and 110 days for agricultural.
D) 200 days for non-agricultural and 215 days for agricultural. - ANSWER -B) 110
days for non-agricultural and 215 days for agricultural.
Which of the following is NOT true regarding Colorado property taxes?
A) Property taxes create a lien as of January 1.
B) If taxpayers choose to make one payment, they must continue to make only
single payments for as long as they own the property.
C) Property taxes not paid in two halves in February and June accrue interest as of
March 1.
D) Property taxes not paid in full on April 15 accrue interest as of May 1. -
ANSWER -B) If taxpayers choose to make one payment, they must continue to
make only single payments for as long as they own the property.
All of the following are true about Colorado fair housing law EXCEPT
A) The state law adds marital status and sexual orientation to the federal protected
classes.
B) Owners of multiple units are expected to make reasonable accommodations for
disabled tenants, such as reserved parking, without charging the tenant.
C) Disabled tenants must make a request to the owner or management company in
order to make reversible changes to their unit.
D) Both residential and commercial property are covered, while the federal law
applies only to residential property. - ANSWER -C) Disabled tenants must make a
request to the owner or management company in order to make reversible changes
to their unit.
If an associate broker agrees to manage rental properties for a friend, the associate
broker must
A) Have a written agreement with the property owner clearly establishing the
associate's responsibilities.
,B) Set up the appropriate trust accounts for funds belonging to others to avoid
commingling property management funds.
C) Agree to split the management fees with the employing broker.
D) Have the employing broker sign a management agreement and establish the
trust accounts for the management assignment. - ANSWER -D) Have the
employing broker sign a management agreement and establish the trust accounts
for the management assignment.
A broker who fails to return a tenant's damage deposit could be liable for
A) Up to treble damages.
B) No more than the original deposit.
C) The deposit plus half of the monthly rent, if over 32 days.
D) Double the deposit. - ANSWER -A) Up to treble damages.
The required minimum notice to quit for a tenant under a tenancy at will is
A) No notice is required.
B) 30 days.
C) 10 days.
D) 3 days. - ANSWER -D) 3 days.
Upon filing the election and demand with the public trustee, the next step in a
foreclosure is the
A) Public trustee will advertise the foreclosure sale.
B) Lender must advertise and send notices to the mortgagor.
C) Borrower must move out of the property within 60 days.
D) Borrower will need to pay off the entire loan to stop foreclosure. - ANSWER -
A) Public trustee will advertise the foreclosure sale.
In a single party listing, which of the following provisions or contingencies does
NOT apply?
A) Holdover
B) Financing
C) Mediation
D) Commission - ANSWER -A) Holdover
A broker lists the square footage of a new listing in the marketing materials. The
listing broker must do all of the following EXCEPT
A) List the method used to measure the property.
B) Verify that the buyer received a copy of the disclosure.
C) Personally measure or hire someone to measure the property.
, D) Give the form to the buyer in a timely manner. - ANSWER -C) Personally
measure or hire someone to measure the property.
All of the following are true of Colorado Commission-approved real estate forms
EXCEPT
A) If a form is approved, all active, licensed brokers must use it.
B) Brokers may use a standard form if they like it better, even if there is an
approved form.
C) Attorneys representing a brokerage firm cannot draft a purchase contract for the
firm to use, even if it is for a specific transaction.
D) Attorneys may draft any transaction-specific real estate forms or contracts for
the parties they represent. - ANSWER -B) Brokers may use a standard form if they
like it better, even if there is an approved form.
In Colorado, a number of approved forms are used by brokers. A listing broker
asked a seller to complete the approved Seller's Property Disclosure for a
residential property. All of the following are true about this form EXCEPT
A) It is filled out to the best of the seller's current actual knowledge.
B) The seller may refuse to provide the disclosure but must still give a written list
of all known material defects of the property.
C) It is required by law to be given to the buyer as part of the Contract to Buy and
Sell.
D) Brokers should never fill out this form because it is the seller's disclosure. -
ANSWER -C) It is required by law to be given to the buyer as part of the Contract
to Buy and Sell.
The holdover clause in the approved Exclusive Right-to-Sell Listing Contract
form protects the broker's commission for certain disclosed buyers
A) For up to six months after the listing expires.
B) For a negotiated time unless the seller lists the property with another broker
after expiration.
C) For a negotiated time even if the seller lists the property with another broker
after expiration.
D) Only during the term of the listing and any extensions. - ANSWER -B) For a
negotiated time unless the seller lists the property with another broker after
expiration.
All of the following may draft a specific contract to buy and sell EXCEPT
A) The listing brokerage firm's attorney.
B) The seller's attorney.
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The minimum right-to-cure period for non-agricultural and agricultural property in
Colorado is
A) 215 days for non-agricultural and 230 days for agricultural.
B) 110 days for non-agricultural and 215 days for agricultural.
C) 100 days for non-agricultural and 110 days for agricultural.
D) 200 days for non-agricultural and 215 days for agricultural. - ANSWER -B) 110
days for non-agricultural and 215 days for agricultural.
Which of the following is NOT true regarding Colorado property taxes?
A) Property taxes create a lien as of January 1.
B) If taxpayers choose to make one payment, they must continue to make only
single payments for as long as they own the property.
C) Property taxes not paid in two halves in February and June accrue interest as of
March 1.
D) Property taxes not paid in full on April 15 accrue interest as of May 1. -
ANSWER -B) If taxpayers choose to make one payment, they must continue to
make only single payments for as long as they own the property.
All of the following are true about Colorado fair housing law EXCEPT
A) The state law adds marital status and sexual orientation to the federal protected
classes.
B) Owners of multiple units are expected to make reasonable accommodations for
disabled tenants, such as reserved parking, without charging the tenant.
C) Disabled tenants must make a request to the owner or management company in
order to make reversible changes to their unit.
D) Both residential and commercial property are covered, while the federal law
applies only to residential property. - ANSWER -C) Disabled tenants must make a
request to the owner or management company in order to make reversible changes
to their unit.
If an associate broker agrees to manage rental properties for a friend, the associate
broker must
A) Have a written agreement with the property owner clearly establishing the
associate's responsibilities.
,B) Set up the appropriate trust accounts for funds belonging to others to avoid
commingling property management funds.
C) Agree to split the management fees with the employing broker.
D) Have the employing broker sign a management agreement and establish the
trust accounts for the management assignment. - ANSWER -D) Have the
employing broker sign a management agreement and establish the trust accounts
for the management assignment.
A broker who fails to return a tenant's damage deposit could be liable for
A) Up to treble damages.
B) No more than the original deposit.
C) The deposit plus half of the monthly rent, if over 32 days.
D) Double the deposit. - ANSWER -A) Up to treble damages.
The required minimum notice to quit for a tenant under a tenancy at will is
A) No notice is required.
B) 30 days.
C) 10 days.
D) 3 days. - ANSWER -D) 3 days.
Upon filing the election and demand with the public trustee, the next step in a
foreclosure is the
A) Public trustee will advertise the foreclosure sale.
B) Lender must advertise and send notices to the mortgagor.
C) Borrower must move out of the property within 60 days.
D) Borrower will need to pay off the entire loan to stop foreclosure. - ANSWER -
A) Public trustee will advertise the foreclosure sale.
In a single party listing, which of the following provisions or contingencies does
NOT apply?
A) Holdover
B) Financing
C) Mediation
D) Commission - ANSWER -A) Holdover
A broker lists the square footage of a new listing in the marketing materials. The
listing broker must do all of the following EXCEPT
A) List the method used to measure the property.
B) Verify that the buyer received a copy of the disclosure.
C) Personally measure or hire someone to measure the property.
, D) Give the form to the buyer in a timely manner. - ANSWER -C) Personally
measure or hire someone to measure the property.
All of the following are true of Colorado Commission-approved real estate forms
EXCEPT
A) If a form is approved, all active, licensed brokers must use it.
B) Brokers may use a standard form if they like it better, even if there is an
approved form.
C) Attorneys representing a brokerage firm cannot draft a purchase contract for the
firm to use, even if it is for a specific transaction.
D) Attorneys may draft any transaction-specific real estate forms or contracts for
the parties they represent. - ANSWER -B) Brokers may use a standard form if they
like it better, even if there is an approved form.
In Colorado, a number of approved forms are used by brokers. A listing broker
asked a seller to complete the approved Seller's Property Disclosure for a
residential property. All of the following are true about this form EXCEPT
A) It is filled out to the best of the seller's current actual knowledge.
B) The seller may refuse to provide the disclosure but must still give a written list
of all known material defects of the property.
C) It is required by law to be given to the buyer as part of the Contract to Buy and
Sell.
D) Brokers should never fill out this form because it is the seller's disclosure. -
ANSWER -C) It is required by law to be given to the buyer as part of the Contract
to Buy and Sell.
The holdover clause in the approved Exclusive Right-to-Sell Listing Contract
form protects the broker's commission for certain disclosed buyers
A) For up to six months after the listing expires.
B) For a negotiated time unless the seller lists the property with another broker
after expiration.
C) For a negotiated time even if the seller lists the property with another broker
after expiration.
D) Only during the term of the listing and any extensions. - ANSWER -B) For a
negotiated time unless the seller lists the property with another broker after
expiration.
All of the following may draft a specific contract to buy and sell EXCEPT
A) The listing brokerage firm's attorney.
B) The seller's attorney.
