Colorado Contracts and Regulations

1. When holding an open house for a seller, a prospective buyer shows real interest and asks detailed questions of the broker. The first question the broker should ask is:

A. Have you ever purchased a home before?
B. Will you have to sell another home in order to purchase this one?
C. Do you have a written, unexpired contract that grants to another licensee an exclusive right-to-buy?
D. What would it take to get you to make an offer on this home today?

2. If a licensee desires to reinstate an expired real estate broker license 18 months after expiration, the cost of the reinstated license will be:
A. the regular license fee plus a 25% penalty.
B. the regular fee plus a penalty equal to the regular 3 yr. license renewal fee.
C. the regular license fee.
D. a license cannot be reinstated that long after expiration.

3.A licensee who intends to purchase one of his own listings must:

A. continue to serve the seller-owner under the terms of the listing agreement.
B. renounce any right to a commission on the sale.
C. add the cost of his own commission to the purchase price.
D. the Commission to place his license on inactive status.

4.When a promissory note is received as earnest money, the seller must be informed by identifying the note in the contract and _____ .
A. attaching a “Disclosure of Promissory Note” to the contract.
B. recording the note in the county office.
C. giving the seller a post-dated check drawn on the buyer’s account.
D. stating the due date in the contract or attaching a copy of the note.

5. In order for a broker to operate as a seller’s limited agent, _____ .
A. the seller must check the transaction brokerage box on the Exclusive B. right to Sell form.
B. the broker must sign as a principal on the Exclusive Right to Sell form.
C.the seller must check the seller agency box on the Exclusive Right to Sell form.
D.the seller must give verbal permission to the broker to so act.

6.In Colorado, a broker must retain transaction records for Commission inspection for:
A.36 months.
B.48 months.
C.60 months.
D.72 months.
7.The commission-approved Square Footage Disclosure is used to:
A. show the square footage the broker obtained when measuring the house.
B. prove that the square footage measurement is accurate.
C. state that real estate agents do not measure square footage.
D. disclose the source, date, and standards used for any square footage represented.

8.Failure by either party to pay “cash at closing” at the time of closing under a Contract to Buy and Sell Real Estate shall:
A. render that party in default.
B. delay closing until the funds are available.
C. be prima facie evidence of broker’s failure to properly anticipate problems in the transaction.
D. automatically trigger the mediation clause of the contract.

9.The listing period on a commercial property listing agreement:
A. must have a definite termination date.
B. be stated as “until sold.”
C. is not required (space may be left blank).
D. is set by state law.
10. Errors and Omissions insurance is:
required for every individual and entity licensee in the state.
optional for new licensees in the first year of their original license.
unnecessary in Colorado because of the commission’s self-insurance program.
unnecessary and redundant in Colorado because of the Real Estate Recovery Fund.

10.Errors and Omissions insurance is:
A.required for every individual and entity licensee in the state.
B. optional for new licensees in the first year of their original license.
C. unnecessary in Colorado because of the commission’s self-insurance program.
D. unnecessary and redundant in Colorado because of the Real Estate Recovery Fund.

11.Under the inspection resolution deadline clause in the Contract to Buy and Sell Real Estate, the contract terminates if the parties cannot agree in writing to settle the buyer’s objections:
A. immediately.
B..on or before the inspection resolution deadline.
C.on the day both parties receive the inspection report.
D.one day following seller receipt of buyer’s notice to terminate.

12.If the Colorado Real Estate Commission takes disciplinary action that is confirmed by an administrative law judge in a public hearing, a broker has how many days to file written objections to that disciplinary action before it becomes final?
A.10 days
B.20 days
C.30 days
D.60 days

13.Failure of an employing broker to renew his or her individual broker license prior to expiration:
A. has no effect on employed licensees.
B.automatically inactivates every employed broker’s license and creates a gap in everyone’s E&O coverage.
C. automatically generates a fine against every employed broker.
D. requires a $200 renewal penalty plus $10 for every licensee employed.

14.Of the following, which information should NOT be divulged in the presence of other brokers in the same office?
A buyer’s inability to qualify for a mortgage loan
B. seller couple’s decision to file for divorce
C. The list price of the property
D. That the basement leaks only during heavy rains

15.If a seller’s broker rebates a portion of earned commission to his or her seller client, _____ .
A.it is NOT a violation of the license law.
B.it is always a violation of the license law.
C,it violates the license law unless the buyer gives permission.
D.it violates the license law unless an equal rebate is given to the buyer.
16.According to the Contract to Buy and Sell Real Estate, personal property is conveyed by the:
A.financing statement.
B.bill of sale or other applicable legal instrument.
C.deed of trust.
D.chattels security agreement.

17. The requirement for electronic or paperless transactions is that they must be:
A.generated on computers using Windows® operating systems.
B.maintained on computers that are networked if more than one PC is in an office.
C.backed up daily with backups stored off-site.
D.in a format that can be legibly printed on Commission request.

18.Under an Exclusive Right-to-Sell Listing Contract, if a seller is contacted directly by a prospective buyer or buyer’s agent, the seller is obligated to:
A.schedule a showing, but not discuss any confidential information.
B.refer the buyer or agent to the listing broker.
C.immediately avoid any form of communication with prospective buyer or agent.
D.answer questions as thoroughly as possible and report the contact to the listing broker.

19.The purpose of the Colorado license law is to:
A.create fees and charges for real estate transactions.
B.protect the public.
C.insure coordination among lending, appraising, and brokerage industries.
D.control real estate transactions.

20.Notification to the Colorado Real Estate Commission of termination of employment between an employing broker and an associate is the responsibility of the:
A.both the employing broker and the associate.
B.the employing broker alone.
C.the terminating associate alone.
D.the brokerage firm’s registered owner alone.

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.

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This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.

It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

Colorado Contracts and Regulations

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