Under the Colorado Real Estate License Act, all of the following are recognized grounds for CREC to impose disciplinary action against a Colorado broker EXCEPT:
Correct Answer
C) Failing to renew a license on time while ceasing all brokerage activities.
Failing to renew a license on time while simultaneously ceasing all brokerage activities is not a disciplinary offense under C.R.S. § 12-10-217. A broker who allows their license to lapse without practicing is simply unlicensed — they have not engaged in prohibited conduct. Discipline arises when a licensee practices with an expired license or commits an affirmative violation, not merely for administrative non-renewal while inactive.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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