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Real Estate Exam #5 Copy

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  1. Question 1 of 50
    1. Question

    Requirements for licensing as a real estate salesperson include all, except:

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    Incorrect
  2. Question 2 of 50
    2. Question

    A real estate broker’s advertisements need to include:

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  3. Question 3 of 50
    3. Question

    An unlicensed assistant may:

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  4. Question 4 of 50
    4. Question

    Roland, a broker, arranges a sale and opens escrow. Before escrow closes, his license is revoked by the Department of Real Estate (DRE). What happens to Roland’s commission?

    Correct
    Incorrect
  5. Question 5 of 50
    5. Question

    Real estate licenses are issued for:

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  6. Question 6 of 50
    6. Question

    Robert, a developer who is unlicensed, hires Yvonne, a broker, to sell his properties. While Yvonne is out of town, Robert shows property, quotes prices and makes sales. Have Robert or Yvonne violated the Real Estate Law?

    Correct
    Incorrect
  7. Question 7 of 50
    7. Question

    Which of the following is true?

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  8. Question 8 of 50
    8. Question

    A salesperson’s commission is paid by:

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    Incorrect
  9. Question 9 of 50
    9. Question

    The : prohibits an employer from discriminating against a person with a disability seeking employment based on their disability.

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    Incorrect
  10. Question 10 of 50
    10. Question

    Salesperson Sally advertised in a newspaper that anyone who bought a home through her services would receive a free home appliance valued up to $500. Such an advertisement is:

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    Incorrect
  11. Question 11 of 50
    11. Question

    A prohibition against a “For Sale” sign in a residential neighborhood:

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    Incorrect
  12. Question 12 of 50
    12. Question

    A newspaper advertisement is considered “blind” when it:

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    Incorrect
  13. Question 13 of 50
    13. Question

    If a group of brokers agreed to divide a market area or set commission rates, it would:

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  14. Question 14 of 50
    14. Question

    Any suggestion by a licensee that the racial makeup of a neighborhood is changing to induce panic selling is an example of:

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    Incorrect
  15. Question 15 of 50
    15. Question

    The Uniform Commercial Code, which pertains to a bulk sale transfer, exists primarily for the protection of:

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  16. Question 16 of 50
    16. Question

    When purchasing a business, the buyer needs to be certain a certificate of clearance has been issued by the:

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  17. Question 17 of 50
    17. Question

    The best guideline to determine whether an action is ethical can be found in:

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  18. Question 18 of 50
    18. Question

    A prospective buyer is interested in purchasing a vacant lot in a rural subdivision. The buyer wishes to know about sewer assessments, liens, utilities to the lot, blanket encumbrances and street maintenance. The source that provides all of this information is the:

    Correct
    Incorrect
  19. Question 19 of 50
    19. Question

    If a licensee’s name is on a list of obligors who have not complied with a court-ordered payment of child support, the licensee’s renewal application will:

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    Incorrect
  20. Question 20 of 50
    20. Question

    State regulations in Colorado contain a statement that prohibits discrimination due to race, color, religion, marital status, national origin, or ancestry. Discrimination in which of the following areas would not be a direct violation of the Rumsford Act?

    Correct
    Incorrect
  21. Question 21 of 50
    21. Question

    Commingling involves the mixing of one client’s monies with:

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  22. Question 22 of 50
    22. Question

    In Colorado, commission fees charged on residential properties cannot exceed:

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  23. Question 23 of 50
    23. Question

    A seller’s broker sold a property to a buyer. Four months later, when the first rains of the season began, the buyer discovered significant roof leaks. The buyer sued both the seller and the broker for the cost of repairs. The seller sued the broker in the same action since the seller had informed the broker numerous times that the building needed a new roof. The broker’s testimony in court revealed the broker was aware of the leaky roof but had not mentioned it to the buyer since the issue of the leaking roof was not mentioned by the buyer. What is the most likely result of the court action?

    Correct
    Incorrect
  24. Question 24 of 50
    24. Question

    A real estate broker takes listing on a residential property. The broker likes the property and chooses to buy it in the name of a separate investment company he owns. Which of the following statements is most correct?

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    Incorrect
  25. Question 25 of 50
    25. Question

    A buyer of a common interest development (CID) is entitled to receive all except copies of:

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    Incorrect
  26. Question 26 of 50
    26. Question

    Under the Alquist-Priolo Special Studies Act, a subdivider is required to disclose to potential purchasers:

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    Incorrect
  27. Question 27 of 50
    27. Question

    Under no circumstances may a real estate broker misrepresent a material fact to a buyer. If they do, the broker faces:

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    Incorrect
  28. Question 28 of 50
    28. Question

    It is least likely to be a violation of the Real Estate Law for a broker to pay a portion of the commission to a(n):

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  29. Question 29 of 50
    29. Question

    A Natural Hazard Disclosure Statement (NHD) needs to be given to a buyer when a natural hazard exists. Which of the following does not trigger delivery of an NHD?

    Correct
    Incorrect
  30. Question 30 of 50
    30. Question

    Earthquake fault zones need to be disclosed to prospective buyers of certain properties in Colorado. Typically, earthquake fault zones are:

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  31. Question 31 of 50
    31. Question

    A verbal agreement to sell real estate is enforceable when:

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  32. Question 32 of 50
    32. Question

    Discriminatory acts in the sale or rental of residential housing accommodations based on sex, religion or national origin of the prospective tenant or buyer are:

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    Incorrect
  33. Question 33 of 50
    33. Question

    Which of the following state agencies is empowered to prevent acts of discrimination in housing accommodations in Colorado due to race, color, sex, national origin or ancestry:

    Correct
    Incorrect
  34. Question 34 of 50
    34. Question

    A Latino real estate agent working in a Hispanic neighborhood informed current owners they should move out because another ethnic group is moving into the area. This conduct is an example of all of the following, except:

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  35. Question 35 of 50
    35. Question

    An agreement between two parties in which one party is granted the right to offer, sell, or distribute goods or services under a marketing plan described by the other party is commonly known as:

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    Incorrect
  36. Question 36 of 50
    36. Question

    A broker chooses to employ their salespeople as independent contractors rather than employees. By doing so, the broker will save out of pocket expenses relating to:

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    Incorrect
  37. Question 37 of 50
    37. Question

    When inspecting a residence in a hillside subdivision, the salesperson observes cracks in the foundation and notices the doors and windows do not close properly. As a matter of best practice, the salesperson references their observations in the Transfer Disclosure Statement (TDS) and recommends that which of the following be ordered?

    Correct
    Incorrect
  38. Question 38 of 50
    38. Question

    The maximum security deposit for a furnished apartment is:

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  39. Question 39 of 50
    39. Question

    An investor made a $40,000 down payment on a $400,000 condominium. One year later, the property increased 10% in value. This resulted in a $40,000 or 100% gain on the $40,000 equity. This is an example of:

    Correct
    Incorrect
  40. Question 40 of 50
    40. Question

    The purpose of a(n) :, like an easement and a lease, is to grant the right to use property owned by another person.

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  41. Question 41 of 50
    41. Question

    Roy, an inactive real estate salesperson, offers to assist Mel lease or purchase federal land for a fee.

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  42. Question 42 of 50
    42. Question

    After an applicant passes the real estate licensing exam, they need to apply for a license within:

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  43. Question 43 of 50
    43. Question

    Which of the following is an example of “puffing”:

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    Incorrect
  44. Question 44 of 50
    44. Question

    It is appropriate for real property managers to be compensated in all of the following ways, except:

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  45. Question 45 of 50
    45. Question

    Who is authorized to manage property for the general public?

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    Incorrect
  46. Question 46 of 50
    46. Question

    An unlawful detainer (UD) action is instigated by:

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    Incorrect
  47. Question 47 of 50
    47. Question

    The purpose of the Real Estate Law is to:

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  48. Question 48 of 50
    48. Question

    Most real estate records need to be kept for a period of three years, commencing from the date that a property is first listed or the date:

    Correct
    Incorrect
  49. Question 49 of 50
    49. Question

    When a purchase agreement states the property is being sold “as is,” it:

    Correct
    Incorrect
  50. Question 50 of 50
    50. Question

    An example of a red flag would be:

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    Incorrect
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