Connecticut Real Estate Unit 10: Real Estate
License Law UPDATED Exam Questions
and CORRECT Answers
A person of entity engaging in the real estate business in CT must have - CORRECT
ANSWER - CT Real Estate License
2 Categories of License: - CORRECT ANSWER - Broker and Salesperson (Both are
Licensees)
A salesperson - CORRECT ANSWER - must be affiliated with and can only work on
behalf of a broker
Connecticut Real Estate Commission - CORRECT ANSWER - Enforces CT licensing
laws
Main responsibilites:
(1) Issue Licenses
(2) Arbitrate disputes between brokers and salespersons
(3) Investigate and prosecute complaints against licensees
(4) Formulate and enforce rues and regulations regarding licensing and conduct of licensees
Structure of Real Estate Commission: - CORRECT ANSWER - (1) 8 Members -- Five of
Real Estate Business (3 Brokers and 2 Licensed Salespersons) 3 Member of the Public
(2) At least one member from each congressional district
(3) Not more than a bare majority from the same political party
Members of Commission:
(1) Must be electors in state
(2) Are appointed by the governor
(3) Take an oath to perform faithfully the prescribed duties
, (4) May be removed from office for cause by the governor after being given an opportunity to be
heard
Commission Members select a chairperson: - CORRECT ANSWER - When voting on
issues a majority of members constitutes a quorum
Seats vacated through resignation, death, or removal are filled by appointees of the governor
Commission members are not paid for their services but are reimbursed for necessary expenses
incurred in the performance of their duties
Real Estate Guaranty Fund - CORRECT ANSWER - $20 Fee assessed on new real estate
licensees to fund Real Estate Guaranty Fund
Continuing Education - CORRECT ANSWER - Classes required for license renewal
Broker - CORRECT ANSWER - A person who performs real estate activities for a real
estate customer
Salesperson - CORRECT ANSWER - Works on behalf of the broker, either as employee or
independent contractor
Person - CORRECT ANSWER - A person includes individuals, partnerships, associations,
limited liability companies, or corporations
Engaging in real estate business - CORRECT ANSWER - Any person acting for another
for a fee, commission, or other valuable consideration, who performs or offers or attempts to
perform brokerage activities.
Real Estate Broker - CORRECT ANSWER - any person or business entity including a
partnership, association, corporation or limited liability company, who for compensation sells or
offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate.
License Law UPDATED Exam Questions
and CORRECT Answers
A person of entity engaging in the real estate business in CT must have - CORRECT
ANSWER - CT Real Estate License
2 Categories of License: - CORRECT ANSWER - Broker and Salesperson (Both are
Licensees)
A salesperson - CORRECT ANSWER - must be affiliated with and can only work on
behalf of a broker
Connecticut Real Estate Commission - CORRECT ANSWER - Enforces CT licensing
laws
Main responsibilites:
(1) Issue Licenses
(2) Arbitrate disputes between brokers and salespersons
(3) Investigate and prosecute complaints against licensees
(4) Formulate and enforce rues and regulations regarding licensing and conduct of licensees
Structure of Real Estate Commission: - CORRECT ANSWER - (1) 8 Members -- Five of
Real Estate Business (3 Brokers and 2 Licensed Salespersons) 3 Member of the Public
(2) At least one member from each congressional district
(3) Not more than a bare majority from the same political party
Members of Commission:
(1) Must be electors in state
(2) Are appointed by the governor
(3) Take an oath to perform faithfully the prescribed duties
, (4) May be removed from office for cause by the governor after being given an opportunity to be
heard
Commission Members select a chairperson: - CORRECT ANSWER - When voting on
issues a majority of members constitutes a quorum
Seats vacated through resignation, death, or removal are filled by appointees of the governor
Commission members are not paid for their services but are reimbursed for necessary expenses
incurred in the performance of their duties
Real Estate Guaranty Fund - CORRECT ANSWER - $20 Fee assessed on new real estate
licensees to fund Real Estate Guaranty Fund
Continuing Education - CORRECT ANSWER - Classes required for license renewal
Broker - CORRECT ANSWER - A person who performs real estate activities for a real
estate customer
Salesperson - CORRECT ANSWER - Works on behalf of the broker, either as employee or
independent contractor
Person - CORRECT ANSWER - A person includes individuals, partnerships, associations,
limited liability companies, or corporations
Engaging in real estate business - CORRECT ANSWER - Any person acting for another
for a fee, commission, or other valuable consideration, who performs or offers or attempts to
perform brokerage activities.
Real Estate Broker - CORRECT ANSWER - any person or business entity including a
partnership, association, corporation or limited liability company, who for compensation sells or
offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate.
