From the breathtaking views of Nederland to the ski slopes of Breckenridge, there’s an abundance of beautiful places to live in Colorado. With that comes a need for real estate agents ready to help people find their dream home in the Centennial State. In order to do this, you’ll have to pass the Colorado real estate exam. Read more below to learn everything you need to know about the examination, including the most frequently asked questions, where to take the test, what to expect on the exam and the pass rates for the top online schools.
How Much Does It Cost To Take the Colorado Real Estate Exam?
The Colorado real estate exam alone costs $44.95, including licensing fees. There may be some other fees associated with licensing.
Where Do You Take the Colorado Real Estate Exam?
The Colorado Real Estate Broker License exam is offered in seven locations, including Centennial (Denver), Wheat Ridge, Pueblo, Colorado Springs, Grand Junction, and Durango. To find out more about where and how to take the test, consult the Colorado PSI manual. Students who have finished their pre-license education at an accredited Colorado Real Estate School must schedule their exam at a PSI testing center. PSI also has exam centers in many other regions across the United States. Students may take their exams at any of these out-of-state locations after submitting the out-of-state request form.
What Is on the Colorado Real Estate Exam?
The Colorado Real Estate Broker Exam is made up of two sections: a National portion and a state-specific section focusing on the state of Colorado. The sections will cover various topics such as land-use controls and regulations, property disclosures, and contracts.
How Many Questions Are on the Colorado Real Estate Exam
The national section is comprised of 80 questions, and the state-specific portion contains 74 questions for a total of 154 questions.
What Percentage Do You Need To Pass the Colorado State Real Estate Exam?
- National Section - Students must answer at least 60 of the 80 questions correctly, achieving a 75% or higher score to pass.
- Colorado Section (State-Specific) – Students must answer 53 out of 74 questions correctly, achieving a score of 71.6% or higher to pass this part of the exam.
How Long Is the Colorado Real Estate Exam?
Students are given 120 minutes (2 hours) for the National section and 110 minutes for the state-specific section. This means the entire exam is a total of 3 hours and 50 minutes.
Exam Outline
The following information about the exam outline has been taken from the PSI Candidate Handbook. The examination will be administered via computer. You will be using a mouse and computer keyboard.
- Identification Screen - You'll be taken to a semi-private testing station to take an examination, where you'll need to confirm your name, identification number, and registered examination.
- Tutorial - Before the exam, there is an introductory tutorial, up to 15 minutes long, provided on the computer screen before the examination. This does not count towards the exam time.
- Test Question Screen - The "function bar" at the top of the test question screen allows easy access to features during examinations. One question appears at a time, and minutes remaining are displayed at the top, updated as answers are recorded.
IMPORTANT - After you have entered your responses, you will later be able to return to any question(s) and change your response, provided the examination time has not run out or you have ended your examination.
- Experimental Questions - During exams, candidates may be given unscored, experimental questions, which are not scored and do not count against testing time. This is a crucial step in developing future licensing exams, as the time spent answering these questions is not counted against testing time.
Can You Take Your Exam Online?
The Colorado real estate exam cannot be taken online. All students are required to go to a PSI Testing Center, where they will be monitored while taking the exam.
When Will I Receive My Exam Results?
The average turnaround time for Colorado agents is a week, if not sooner. Some pupils get their test results the same day they take the exam.
Can I Retake the Real Estate Exam in Colorado?
You can retake the Colorado exam if you fail it. The second time around, the cost is an additional fee of $42.50.
Sample Exam Questions From PSI
- Which of the following interests in property is held by a person who is granted a lifetime use of a property that will be transferred to a third party upon the death of the lifetime user?
- A life estate
- A remainder estate
- An estate for years
- A reversionary estate
- Which of the following statements BEST identifies the meaning of the term “rescission of a contract”?
- A ratification of a contract by all parties
- A return of all parties to their condition before the contract was executed
- A transfer or assignment of a particular responsibility from one of the parties to another
- A review of the contract by the legal counsel of either party that may result in a cancellation without penalty or further obligation
- Which of the following clauses in a mortgage allows the lender to demand loan repayment if a borrower sells the property?
- Defeasance
- Prepayment
- Acceleration
- Alienation
- How much cash MUST a buyer furnish in addition to a $2,500 deposit if the lending institution grants a 90% loan on an $80,000 property?
- $5,500
- $6,975
- $7,450
- None of the above
- Which of the following single-family residences would get the MOST accurate appraisal by applying the reproduction cost approach to value?
- A rental property
- A vacant property
- A new property
- An historic property
Answers to Sample Questions:
- A
- B
- D
- A
- D
Source: PSI
How Difficult Is the Colorado Real Estate Exam?
The difficulty of the exam depends on your study habits and learning style. Most students find it challenging and require multiple attempts to pass. But you shouldn't be intimidated by it! In our 23 years of experience, we have found that the students struggle the most with the following topics:
- Contracts
- Regulations
- Closings
- Record Keeping
How Many People Pass the Real Estate Exam in Colorado on the 1st Try?
The following are the pass rates for the top online real estate schools in Colorado. These pass rates represent the combined percentage of students who passed the National and the Colorado portions of the exam.
VanEd - 85%
VanEd currently has the highest pass rate for online schools in the Colorado portion at 91%, as well as the number one pass rate for both portions combined at 85%.
The CE Shop - 82.5%
The CE Shops currently has the second-highest pass rate for the combined portions at 82.5%.
Colorado Real Estate School - 75%
Colorado Real Estate School, at number 3, has a 70% pass rate on the Colorado portion and a combined pass rate of 75%.
Mckissock - 71.5%
Last is Mckissock, with a combined score of 71.5%
You can review a summary of the state’s published pass rates here.
How To Study for the Colorado Real Estate Exam
The most effective way to study for and pass your exam is by reviewing the material in your 168-hour coursework.
At VanEd, we make this easy with our Colorado Real Estate Exam Prep Course Program. Our course contains a full review of your pre-license courses and various practice questions that you will find on both the National and State-Specific portions of the exam.
VanEd also provides additional tips on passing your exam and how to prepare for your test here.
Written and Published by: VanEd
