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CONNECTICUT REAL ESTATE SALESPERSON (PSI)
EXAMINATION COMPLETE VERIFIED QUESTIONS
AND DETAILED SOLUTIONS LATEST UPDATE THIS
YEAR JUST RELEASED
A licensee can do all the following without entering into a
written buyer agency agreement EXCEPT:
(a) Give the buyer information on the licensee's firm.
(b) Provide the buyer with information on the licensee's
firm.
(c) Physically show the buyer in-house listings.
(d) Ask the buyer to disclose his or her confidential
information. - Answer-A licensee can do all the following
without entering into a written buyer agency agreement
EXCEPT:
(d) Ask the buyer to disclose his or her confidential
information.
- A licensee cannot ask about confidential information
unless a written buyer agency is entered into, or the
licensee is going to represent the sell and has presented
the buyer with the required agency disclosure notice
stating that the licensee represents the seller.
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Under Connecticut licensing law, brokers and agents have
to disclosure a present or contemplated interest in a
property listed with them:
(a) Only when executing a buyer's broker agreement
(b) If they are contemplating purchasing the property for
the own account
(c) Only when a buyer decides to make an offer
(d) In the listing agreement and in any advertisements -
Answer-Under Connecticut licensing law, brokers and
agents have to disclosure a present or contemplated
interest in a property listed with them:
(b) If they are contemplating purchasing the property for
the own account
- If the broker or agent has a present or contemplated
interest in the property the broker has listed, the broker or
agent must disclosure that interest to the buyer.
Which statement is TRUE under Connecticut law?
(a) Net listings are recognized as listings
(b) A broker can accept a net listing if all funds over the
stated brokerage fee are received as a bonus instead of a
commission
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(c) Connecticut license laws provide that licensed brokers
may not accept a listing that is based on a "net" price
(d) Net listings require the consent of the seller, buyer and
real estate licensee - Answer-Which statement is TRUE
under Connecticut law?
(c) Connecticut license laws provide that licensed brokers
may not accept a listing that is based on a "net" price
- Net listings are illegal under Connecticut license law.
Under Connecticut law, real estate brokers are required to
retain certain brokerage records such as offers and
counteroffers drafted by the brokers office, contracts,
leases, agency agreements and disclosures, escrow and
trust account check , and bank statements. These records
must be kept:
(a) Ten years
(b) Indefinitely by the broker
(c) Five years
(d) Seven years - Answer-Under Connecticut law, real
estate brokers are required to retain certain brokerage
records such as offers and counteroffers drafted by the
brokers office, contracts, leases, agency agreements and
disclosures, escrow and trust account check , and bank
statements. These records must be kept:
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(d) Seven years
- Records must be kept for seven years. Records include
transactions that did not close and buyer agency
agreements where the buyer never purchased.
Connecticut licensing law recognizes the following listing
agreements:
(a) Exclusive right to sell, exclusive agency, open listing
(b) Exclusive right to sell, exclusive agency, open listing,
MLS
(c) Exclusive right to sell, exclusive agency, open listing,
net listing
(d) Exclusive right to sell, exclusive agency, open listing,
MLS, net listing. - Answer-Connecticut licensing law
recognizes the following listing agreements:
(a) Exclusive right to sell, exclusive agency, open listing
- Connecticut licensing law recognizes exclusive right to
sell, exclusive agency, and open listings. MLS is a service
where agents pool their listings. Net listings are illegal in
Connecticut.
Sharon Buyer called Agent Michael to view his listing on
Monroe Street. Sharon does not have an agent. Michael
CONNECTICUT REAL ESTATE SALESPERSON (PSI)
EXAMINATION COMPLETE VERIFIED QUESTIONS
AND DETAILED SOLUTIONS LATEST UPDATE THIS
YEAR JUST RELEASED
A licensee can do all the following without entering into a
written buyer agency agreement EXCEPT:
(a) Give the buyer information on the licensee's firm.
(b) Provide the buyer with information on the licensee's
firm.
(c) Physically show the buyer in-house listings.
(d) Ask the buyer to disclose his or her confidential
information. - Answer-A licensee can do all the following
without entering into a written buyer agency agreement
EXCEPT:
(d) Ask the buyer to disclose his or her confidential
information.
- A licensee cannot ask about confidential information
unless a written buyer agency is entered into, or the
licensee is going to represent the sell and has presented
the buyer with the required agency disclosure notice
stating that the licensee represents the seller.
,2|Page
Under Connecticut licensing law, brokers and agents have
to disclosure a present or contemplated interest in a
property listed with them:
(a) Only when executing a buyer's broker agreement
(b) If they are contemplating purchasing the property for
the own account
(c) Only when a buyer decides to make an offer
(d) In the listing agreement and in any advertisements -
Answer-Under Connecticut licensing law, brokers and
agents have to disclosure a present or contemplated
interest in a property listed with them:
(b) If they are contemplating purchasing the property for
the own account
- If the broker or agent has a present or contemplated
interest in the property the broker has listed, the broker or
agent must disclosure that interest to the buyer.
Which statement is TRUE under Connecticut law?
(a) Net listings are recognized as listings
(b) A broker can accept a net listing if all funds over the
stated brokerage fee are received as a bonus instead of a
commission
,3|Page
(c) Connecticut license laws provide that licensed brokers
may not accept a listing that is based on a "net" price
(d) Net listings require the consent of the seller, buyer and
real estate licensee - Answer-Which statement is TRUE
under Connecticut law?
(c) Connecticut license laws provide that licensed brokers
may not accept a listing that is based on a "net" price
- Net listings are illegal under Connecticut license law.
Under Connecticut law, real estate brokers are required to
retain certain brokerage records such as offers and
counteroffers drafted by the brokers office, contracts,
leases, agency agreements and disclosures, escrow and
trust account check , and bank statements. These records
must be kept:
(a) Ten years
(b) Indefinitely by the broker
(c) Five years
(d) Seven years - Answer-Under Connecticut law, real
estate brokers are required to retain certain brokerage
records such as offers and counteroffers drafted by the
brokers office, contracts, leases, agency agreements and
disclosures, escrow and trust account check , and bank
statements. These records must be kept:
, 4|Page
(d) Seven years
- Records must be kept for seven years. Records include
transactions that did not close and buyer agency
agreements where the buyer never purchased.
Connecticut licensing law recognizes the following listing
agreements:
(a) Exclusive right to sell, exclusive agency, open listing
(b) Exclusive right to sell, exclusive agency, open listing,
MLS
(c) Exclusive right to sell, exclusive agency, open listing,
net listing
(d) Exclusive right to sell, exclusive agency, open listing,
MLS, net listing. - Answer-Connecticut licensing law
recognizes the following listing agreements:
(a) Exclusive right to sell, exclusive agency, open listing
- Connecticut licensing law recognizes exclusive right to
sell, exclusive agency, and open listings. MLS is a service
where agents pool their listings. Net listings are illegal in
Connecticut.
Sharon Buyer called Agent Michael to view his listing on
Monroe Street. Sharon does not have an agent. Michael
