CT REAL ESTATE AGENCY 101 EXAM
QUESTIONS AND ANSWERS
Referral Fee - requirements to request - ANSWER-- an actual introduction of
business has been made
-a subagency relationship exists
-a contractual referral fee relationship exists
or
-a contractual cooperative brokerage relationship exists
Salesperson - ANSWER-Works on behalf of the broker, either as an employee or
independent contractor.
Broker - ANSWER-Offers, attempts to negotiate the following for another person for
compensation
Lists for sale
Sell,
Buys
Exchanges,
rents ,
resells a mobile home.
The state law in Ct requiring licensure - ANSWER-Chapter 392 of the CT general
Statutes.
What are the requirements for a corporation/partnership to be licensed as a broker -
ANSWER-all persons with an ownership interest in a legal entity that is licensed as a
broker must hold either a broker or salesperson license with licensed broker s
owning at least 51% of the entirety
the broker. - ANSWER-In a broker-salesperson relationship who is liable for the
salespersons behaviour?
What are the states with which CT has reciprocal agreements - ANSWER-AL, Co,
FL, GA IL, IN, MA, MS, NE, NY, OH, OK, RI
Agency relationship - ANSWER-When a broker represents a person. broker is the
agent, person is the client/principal. Broker owes fiduciary responsibility to the client
.
Diligent Effort - ANSWER-Working hard to make sure you do the job, and keeping
the client always updated on what's going on.
Electronic Communication must include... - ANSWER--the licensee's name and
office address
-the name of the real estate broker the licensee is affiliated with
-all states where the licensee is licensed
QUESTIONS AND ANSWERS
Referral Fee - requirements to request - ANSWER-- an actual introduction of
business has been made
-a subagency relationship exists
-a contractual referral fee relationship exists
or
-a contractual cooperative brokerage relationship exists
Salesperson - ANSWER-Works on behalf of the broker, either as an employee or
independent contractor.
Broker - ANSWER-Offers, attempts to negotiate the following for another person for
compensation
Lists for sale
Sell,
Buys
Exchanges,
rents ,
resells a mobile home.
The state law in Ct requiring licensure - ANSWER-Chapter 392 of the CT general
Statutes.
What are the requirements for a corporation/partnership to be licensed as a broker -
ANSWER-all persons with an ownership interest in a legal entity that is licensed as a
broker must hold either a broker or salesperson license with licensed broker s
owning at least 51% of the entirety
the broker. - ANSWER-In a broker-salesperson relationship who is liable for the
salespersons behaviour?
What are the states with which CT has reciprocal agreements - ANSWER-AL, Co,
FL, GA IL, IN, MA, MS, NE, NY, OH, OK, RI
Agency relationship - ANSWER-When a broker represents a person. broker is the
agent, person is the client/principal. Broker owes fiduciary responsibility to the client
.
Diligent Effort - ANSWER-Working hard to make sure you do the job, and keeping
the client always updated on what's going on.
Electronic Communication must include... - ANSWER--the licensee's name and
office address
-the name of the real estate broker the licensee is affiliated with
-all states where the licensee is licensed
