Additional Topics (9 items, 12%)

Question 1

*Property Mgmt Agreements*

A management contract between a brokerage and a landlord must be in _______ and filed with the ______ _____ .

Answer 1

writing

employing broker.

Question 2

*Property Mgmt Agreements*

Property management must be included in the written ________ ________ manual and activities must be in the name of the _________ __________.

Answer 2

office policy

employing broker.

Question 3

*Property Mgmt Agreements*

Funds received on behalf of the owner must be deposited within __ business days.

*Management fees are withdrawn from the trust account only after being ____ ____. *

Answer 3

5

fully earned.

Question 4

*A purchaser of a time-share has __ ________ days following receipt of all required information to _______ the contract in writing.*

Answer 4

5 business rescind

Question 5

Called the ‘_________ ____’ period, the consumer does ____ need to state a reason for rescinding and all payments made must be refunded within ___ days of the written notice.

Answer 5

‘cooling off’

not, 30

Question 6

Colorado law provides for a ___-day expedited eviction of certain ‘____________ and ___________ persons.’

Answer 6

3 undesirable and dangerous

Question 7

Taxes are assessed for the previous year on ________ _.

Answer 7

January 1.

Question 8

Since a ____ _____ attaches to a property at the time of assessment, to avoid delinquency charges, all tax payments just be sent by the scheduled _________ dates *allowing the tax-payer to pay the full amount by the end of _______

OR the first half by the end of _________ and the second half by _______ ___th.

Answer 8

tax lien

payment

April

February, June 15th.

Question 9

Property taxes assessments are based on a ____ _____ that is subject to change on an ________ basis.

Answer 9

mill rate annual

Question 10

*Annual property taxes are determined by ______________ the mill levy times the _________ value as assessed by the county. *

Answer 10

multiplying property

Question 11

An uninterrupted long-term use of the property without the owners _________, such as an individual regularly driving through an undeveloped land to get to his property is called a *__________ __________.*

Answer 11

consent prescriptive easement.

Question 12

The owner of ______ should serve a written notice showing the intent to dispute any claims of adverse ____________.

Answer 12

land

possession.

Question 13

*Any real property divided into ___ or more residential interests offered for sale, lease, or transfer must be registered as a ____________.*

Answer 13

20 subdivision.

Question 14

*AD VALOREM*

Latin meaning “________ to ________” -

normally used to describe a tax based on the _________ value of real property.

Answer 14

according to value assessed

Question 15

*CONDOMINIUM OWNERSHIP*

A common interest _________ in which portions of the real estate are designated for ________ and the remainder is designated for _______ ownership.

Condos are transferred by _____.

Answer 15

community

ownership

common

deed.

Question 16

*EASEMENT BY NECESSITY*

An easement that must be given to allow a buyer of land, ________ to the real property, also called __________ of law.

Answer 16

access

implication

Question 17

*EQUITABLE TITLE* The buyer’s ___________ in real property after the sales contract has been accepted until closing.

Answer 17

interest

Question 18

*NEGILIGENCE*

Failure to exercise the ______ toward others that a reasonable or prudent person would exercise in the same circumstances,

or taking ______ that a reasonable person would not take.

Negligence occurs when a licensee should have known that ____________ statements were being relied on as ________ facts.

Answer 18

care;

action

incorrect, material

Question 19

*TIME SHARE*

An ________ interest in real estate, whereby ownership or occupancy rights circulate among the various ________ owners.

Ownership is ___________ or by ___________ - and must be registered.

Answer 19

interval; interval

contractual or membership

Question 20

The Colorado ______ __________ Commission handles fair housing complaints.

A complaint must be filed with the Colorado court within ___ year of the alleged discriminatory incident or filed directly with the federal court within __ years.

Answer 20

Civil Rights

one year

2 years.

Question 21

The Colorado ____ _______ law adds several protected classes to the federal law including: -creed -ancestry -marital status.

The ________ law (and Colorado) includes:

• race
• color
• religion
• national origin
• sex
• familial status
• physical handicap.

Answer 21

fair housing (CAM)

federal law (RCRNSFP)

Question 22

_______’s Law requires that certain sex offenders register with local police in the area where they ______.

Answer 22

Megan’s live.

Question 23

*A Commission Position statement advises all licensees to refer inquiries about ___ _______ living in an area to the appropriate local and state law __________ agencies.

Answer 23

sex offenders

enforcement