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Colorado Broker Examination - State Portion — Information & Free Practice

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Colorado Broker Examination - State Portion

Provider
PSI Services LLC
Format
Computer-administered examination
Exam questions
74 scored questions; 5 to 10 unscored experimental questions may be administered
Time limit
110 minutes
Passing score
53 correct answers
Examination outline
  • Duties and Powers of the Real Estate Commission (2 items)
    • General Powers of the Real Estate Commission
    • Investigations or Audits, Hearings and Appeals; Criminal Violations; License Law Violations
  • Licensing Requirements (5 items)
    • Types of Licenses/Corporations
    • Acts Requiring a License
    • License Maintenance: Renewal, Changes, Expiration, Suspension, Inactive Status, and Continuing Education
    • License Qualifications and Exemptions
    • Errors and Omissions Insurance
  • Requirements Governing the Activities of Licensees (11 items)
    • Advertising; Trade Names
    • Brokerage Administration
    • Brokerage Administration - i. Employer/Employee Relationships
    • Brokerage Administration - ii. Place of Business Requirements
    • Brokerage Administration - iii. Office Policy Requirements
    • Commissions, Rebates, Referrals, & Fees; Inducements from Settlement Service Providers
    • Disclosure of Conflict of Interest or Licensed Status
    • Handling of Documents
    • Listings
    • Practice of Law/Seller Financing
    • Unlicensed Personal Assistants
    • Sign Crossing
  • Additional Topics (7 items)
    • Property Management; Landlord Tenant Act
    • Water Rights & Disclosures; Well Change of Ownership
    • Colorado Taxes
    • Colorado Fair Housing Act
    • Foreclosure Protection Act & Processes
  • Colorado Forms and Contracts (23 items)
    • Listing Contracts and Buyer Representation Agreements
    • Contracts to Buy and Sell Real Estate (incl. new disclosures)
    • Use of Standard Forms
    • Deeds of Trust/Promissory Notes
    • Disclosure Documents
    • Addenda to Contracts (Including Foreclosure Property Addendum, Short Sales)
    • Counterproposal Form
    • Closing Instructions
    • Seller Financing
  • Record Keeping and Trust Accounts (5 items)
    • Transaction Record Keeping
    • Trust Accounts
    • Trust Accounts - i. Account Requirements
    • Trust Accounts - ii. Delivery of Funds to Broker or Title Company
    • Trust Accounts - iii. Trust Account Record Keeping
  • Closing and Settlement (10 items)
    • Computation of Proration
    • Responsibility for Accuracy of Closing Statements
    • Ensuring that Closing Statements Match Contract Instructions
    • Responsibilities of Parties at Closing
    • Closing Documents
  • Brokerage Relationships (11 items)
    • Brokerage Relationship Disclosure
    • Transaction Brokerage
    • Single Agent
    • Designated Brokers
Examination sources