Colorado License Law
Colorado's 'Real Estate Recovery Fund' protects consumers by:
AA. Insuring all real estate transactions against price declines
BB. Providing compensation to consumers who have suffered actual monetary losses due to a licensed broker's fraud or misrepresentation, when the broker cannot pay✓ Correct
CC. Paying broker commissions when sellers default
DD. Funding the Colorado Division of Real Estate's operations
Explanation
Colorado's Real Estate Recovery Fund (C.R.S. § 12-10-120) allows consumers who obtain an unsatisfied court judgment against a licensed broker for fraud, misrepresentation, or deceit to apply for reimbursement from the fund. The broker's license is revoked upon payment from the fund.
Related Colorado Colorado License Law Questions
- In Colorado, an 'associate broker' is:
- A Colorado broker who has been licensed for 2 years applying to become an employing broker must:
- Colorado requires that the Annual Update Course (AUC) be taken in each year of the 3-year CE cycle. How many AUC hours are required per cycle?
- Under Colorado Rules and Regulations, the Seller's Property Disclosure (SPD) form is:
- A Colorado broker who sells a property belonging to a family member must:
- In Colorado, which of the following activities requires a real estate broker's license?
- Under Colorado law, a person who practices real estate without a license may face:
- Under Colorado Commission rules, a broker who receives compensation for property management activities must provide their principal with:
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →