Colorado Real Estate Exam Prep 2024 Flashcards

Colorado Real Estate Exam Prep 2024 Flashcards E+O is required for who?Commercial Brokers The effort that brings about the desired result in a real

estate sale is known as:

procuring cause A licensee is a partner in a title company. What should the licensee do if a buyer asks about title insurance?refer the client to the licensees title company only after written discloser.The accuracy of proration calculations is the responsibility

of the:

brokers

Single party listings should:have no holder provisions

Building a $200,000 home in a neighborhood where other homes were valued at $100,000 would cause the new

home to suffer a loss in value according to the principle of:

regression

A counterproposal must be:attached to the original offer

A condition that must be met for the contract to be enforced

is called:

contingency:

BPO is allowed in all situations except: if they're going to use it for financing or to issue financing A seller requests that a broker "take over" for another listing company who has "done nothing". The broker may do what?negotiate a listing be effective when the current listing expires.Money that is held in a trust account and becomes due and payable to a broker must be withdrawn when?Promptly A broker can facilitate safe guards in relation to seller

assisted down payments in all of the following except:

notifying the RE commission of the true price of the residential property.Designated brokerage does not include what? A Real Estate Brokerage firm that consists of only 1 licensed natural person.Which of the following transfer of property provisions is not found in a Colorado Real Estate Deed of Trust?Assumable 1% interest increase.In a buyer-agent situation, what responsibilities does the principal have to the agent?He may have to pay a commission.Unless otherwise agreed, all earnest money shall be deposited in the brokers escrow or trust account not later than when?

• days after the broker received notice of acceptance of a

sales contract.Which does not apply to the use of computer generated forms?Colorado Real Estate Commission approved language must be reproduced exactly.When a broker signs the broker acknowledgment at the end of the residential contract to buy/sell, the broker is acknowledging what?receipt of the earnest money deposit.Colorado Rule E35 requires discloser of a brokerage relationship when?Before any primary assistance or before the receipt of confidential information.When there are no provisions in a lease or management agreement as to the brokers responsibility for escrow

security deposits, the broker must:

remit deposit to owner

Brokers maintaining escrow accounts must maintain all records except what?Profit and loss settlements An unlicensed personal assistant may do what? write checks from escrow Which of the following tags are relevant tags are relevant to Colorado residential Real Estate transitions?Special Assets In an interest bearing trust account:the interest may be donated to a qualified affordable housing act.

Annual plantings are generally considered to be: personal property

An example of a contract terminated due to inability to perform would be one in which what?Seller had contracted for the sale of the entire property without the knowledge or consent of the other joint tenant.An unlicensed manager can do what?Deliver completed contracts to the brokers A life estate is what kind of estate?Freehold In addition to the disclosure of the existence brokerage relationship and definitions of the various working relationships, what must the broker provide for the buyer?written disclosure to the buyer A balance due to the seller is written how? Debit seler, credit broker A listing licensee is responsible for accurately representing what?The source of the square footage.A licensee is in the process of presenting an offer to a seller. The buyer calls and wants to withdraw their offer.What can happen?The buyer can withdraw before the seller accepts.According to the contract to buy and sell real estate, if facsimile signatures will be used, they must be obtained when?upon request