Real Estate Exam #5 Copy

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

A real estate broker’s advertisements need to include:

An unlicensed assistant may:

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?

Real estate licenses are issued for:

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?

Which of the following is true?

A salesperson’s commission is paid by:

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

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:

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

A newspaper advertisement is considered “blind” when it:

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

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

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

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

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

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:

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:

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?

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

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

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?

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?

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

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

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

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):

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?

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

A verbal agreement to sell real estate is enforceable when:

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:

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:

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:

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:

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:

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?

The maximum security deposit for a furnished apartment is:

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:

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

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

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

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

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

Who is authorized to manage property for the general public?

An unlawful detainer (UD) action is instigated by:

The purpose of the Real Estate Law is to:

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:

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

An example of a red flag would be: