Colorado License LawIntermediateColorado Exam
A Colorado broker's license was revoked for fraud. After the revocation, the broker may apply for reinstatement:
AAfter 6 months with proof of additional education, which reflects common industry practice
BAfter the time period specified in the Commission's order and upon showing rehabilitationCorrect
CImmediately if they pay a reinstatement fee
DNever — revocation is permanent in Colorado
Why After the time period specified in the Commission's order and upon showing rehabilitation Is Correct
Answer B: After the time period specified in the Commission's order and upon showing rehabilitation
In Colorado, a person whose license has been revoked may apply for reinstatement after the time period specified in the Commission's revocation order (if any) and upon demonstrating rehabilitation and fitness to hold a license. The Commission reviews each case individually.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
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