Samenvattingen, Aantekeningen en Examens

Colorado Real Estate – Contracts Exam Questions and Answers 100% Pass vicarious liability - Correct Answer ️️ -a principal's liability for an agent's acts performed within the scope of the agency; specifically excluded by Colorado statute from a principal's liability unless the act or omission was approved, directed or ratified. (The employing broker is responsible to licensees actions) Sam is an associate broker who wishes to purchase investment property. What must Sam do when the ...

Madison Davidson negotiated for a $30,000 loan with $200 monthly payments, plus 9 percent interest. In this case, what is the monthly interest in the first month? A: $225 B: $450 C: $425 D: $205 - A: 225 First, you take $30,000 and multiply it by 9% for the total annual interest paid, or $2,700. Divide that by 12 (months) for a total of $225 per month interest payment. If this is a fully amortized loan, the ratio of principal and interest will change every month, with the interest declin...

COLORADO REAL ESTATE EXAM ALL INCLUSIVE EXAM 2024 | ALL VERSIONS AND A STUDY GUIDE INCLUDED | ACCURATE AND VERIFIED FOR GUARANTEED PASS | LATEST UPDATE

Duties of the Colorado Real Estate Commission include all of the following EXCEPT A) Investigation of verified written complaints. B) Approving errors and omissions carriers. C) Creating the Annual Commission Update course each year. D) Hearing disputes between brokers. - ANSWER-D) Hearing disputed between brokers. A buyer in a closed transaction has filed a complaint with the Colorado Real Estate Commission, claiming the buyer's agent misrepresented the property. The Commission, in resp...

All of the following must be in compliance with a broker's escrow or trust account EXCEPT - ANSWER-by being maintained in the name of the licensed brokerage. The approved Earnest Money Promissory Note - ANSWER-must be due early enough to assure good funds for closing. In Colorado license law, the terms "employing broker" and employed licensee mean that - ANSWER-The employing broker has specific supervisory requirements for all employeed licensees. The Residential Contract to Buy and ...

The purpose of the CRE Commission is to... - ANSWER-Protect the public of the state of CO in real estate matters If a broker is accused of a violation of license law in a complaint to the commission investigative staff and its determined that the violation probably happened, the commission... - ANSWER-May decide to refer the matter to a hearing before an appointed administrative law judge If judge finds broker in violation, penalties include public censure, license suspension, license revo...

COLORADO REAL ESTATE EXAM PREP QUESTIONS & ANSWERS, GRADED A+/ An owner of real estate possesses certain rights, including: possession of the property control of the property disposition of the property all of the above - -all of the above Possession, control and disposition of ownership are included in the bundle of rights. The "Bundle of Rights" can best be remembered by the name "C-U-P-E-D". These letters stand for control, use, possess, enjoyment, and dispose. According to l...

COLORADO REAL ESTATE EXAM PREP STATE PORTION SECTION 1 DUTIES AND POWERS OF THE REAL ESTATE COMMISSION AND SECTION 2 LICENSING REQUIREMENTS. EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+. What is the purpose of Colorado real estate License Law - -Protect the public of the State of Colorado The purpose of the Colorado Real Estate Commission is to: - -Protect the public of the state of Colorado in real estate matters Acting as a real estate broker without a license or with a suspended lic...

COLORADO REAL ESTATE EXAM PREP STATE PORTION SECTION 5, FORMS AND CONTRACTS. QUESTIONS & ANSWERS, RATED A+/ The Supreme Court decision in the Conway-Bogue case relating to the practice of law by real estate brokers and employed licensees stated: - -Colorado licensees completing standard form are practicing law and have a limited permission to do so. The purpose of Commission Rule F relating to approved forms is to: - -help insure the brokers compliance with the Conway-Bogue decision of ...

COLORADO REAL ESTATE EXAM QUESTIONS & ANSWERS, GRADED A+/ VERIFIED. According to the Colorado Licensing Law, in order for a non-resident to become a broker: - -• he must meet Colorado licensing law only • he must be involved in real estate in his home state • he must be 21 and have been involved in real estate for two years. > he must be a broker from his home state and pass Colorado licensing laws, but need not open an office in Colorado The minimum age requirement for a lic...