Colorado License LawIntermediateColorado Exam
A Colorado broker's license may be suspended or revoked for all of the following EXCEPT:
AA. Commingling client funds with personal funds
BB. Making fraudulent misrepresentations
CC. Refusing to accept an overpriced listingCorrect
DD. Failing to account for earnest money deposits
Why C. Refusing to accept an overpriced listing Is Correct
Answer C: C. Refusing to accept an overpriced listing
A broker has no legal obligation to accept any particular listing. However, commingling client funds, fraud, and failure to account for trust money are serious violations that can result in license suspension or revocation under Colorado license law.
Key Colorado License Law Terms in This Question
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Promissory NoteA written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
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