Agency
A Colorado broker's employing broker is responsible for the actions of their associate brokers when:
AA. Only when the employing broker personally supervises each transaction
BB. The associate broker is acting within the scope of their real estate brokerage activities on behalf of the firm✓ Correct
CC. Only for commercial transactions
DD. Only if the associate broker has less than 2 years of experience
Explanation
An employing broker in Colorado is responsible for supervising all associated brokers and is liable for their associates' actions performed within the scope of their licensed real estate activities. This responsibility is why employing brokers must establish proper supervision systems, written policies, and training programs for their associates.
Related Colorado Agency Questions
- A Colorado buyer's broker who also shows one of their own listings to the buyer has a potential:
- A Colorado buyer's broker who receives confidential information from the seller's listing broker about the seller's motivation should:
- A Colorado buyer's agent has a fiduciary duty of loyalty, which means the agent must:
- In Colorado, 'implied agency' arises when:
- A Colorado listing broker receives an offer significantly below asking price. The broker thinks it is a waste of time. The broker should:
- In Colorado, a broker's 'duty of reasonable care' means the broker must:
- In Colorado, a broker's duty to exercise 'reasonable skill and care' requires them to:
- A Colorado transaction broker is assisting both the buyer and seller in a transaction. The broker's primary obligation is to:
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →