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Real Estate Salesperson Exam — National Portion

Agency (CO): practice questions

Our Real Estate (National) bank has 13 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Colorado

After a Colorado agency relationship ends, which duty continues?

  1. Promoting the former client's interests
  2. Keeping confidential information confidential
  3. Seeking more offers on the property
  4. Presenting offers
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B. Keeping confidential information confidential — C.R.S. 12-10-409(2)(b); accounting for money also continues.

Question 2 · Colorado

What must a Colorado transaction-broker disclose to a seller about a buyer?

  1. Nothing about the buyer at all
  2. Known adverse facts about the buyer's financial ability to perform
  3. The buyer's highest price
  4. The buyer's personal reasons for buying
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B. Known adverse facts about the buyer's financial ability to perform — C.R.S. 12-10-407(2)(b)(VII).

Question 3 · Colorado

Which relationships may a Colorado broker hold with a client?

  1. Single agent or transaction-broker
  2. Dual agent only
  3. Subagent only
  4. Facilitator only, in every transaction
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A. Single agent or transaction-broker — C.R.S. 12-10-403(1).

Question 4 · Colorado

Before a Colorado transaction-broker starts working with a party, what must they disclose in writing?

  1. Their commission split with other brokers
  2. That they are not the party's agent
  3. The seller's lowest acceptable price
  4. Their total sales volume
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B. That they are not the party's agent — C.R.S. 12-10-408(2)(a).

Question 5 · Colorado

Is a Colorado seller vicariously liable for their broker's acts they didn't approve?

  1. Yes, always
  2. No
  3. Only for fraud
  4. Only if the broker is unlicensed
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B. No — C.R.S. 12-10-403(7).

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