CT REAL ESTATE LICENSING
PRACTICE EXAM QUESTIONS WITH
CORRECT ANSWERS
A couple are moving to a new city. They have decided to rent temporarily before
buying a house to see which part of the city they would like to live in. What type of
lease would BEST suit the couple's needs?
1. Lease option.
2. Rental lease.
3. Month-to-month lease.
4. Lease purchase. - ANSWER-3. Month-to-month lease.
At the closing on June 15, the buyer is assuming a mortgage presently on the
property, on which the monthly interest charge is currently $600. The seller has
made the payment due on June 1. Assuming a VA mortgage, what is the adjustment
made at closing?
1. Credit seller $300; credit buyer $300.
2. Debit seller $300; debit buyer $300.
3. Credit seller $300; debit buyer $300.
4. Debit seller $300; credit buyer $300. - ANSWER-4. Debit seller $300; credit buyer
$300.
A charge of violation of Federal Fair Housing laws can be heard by an administrative
law judge within the Department of Housing and Urban Development (HUD) or by a
Federal district court judge in Federal court. The advantage of a Federal court
hearing to the complaining party is that:
1. the case will be more thoroughly reviewed.
2. there is no dollar limit on damages paid.
3. only a district court judge can order that the property be sold to the complaining
party.
4. only a district court judge can order jail time for the guilty party. - ANSWER-2.
there is no dollar limit on damages paid.
A real estate salesperson is representing only the buyer in a transaction. Which of
the following actions would be a violation of the salesperson's agency duties to the
client?
1. disclosing the price the seller originally paid for the property
2. disclosing the highest price the buyer is willing to pay
3. preparing a competitive market analysis
4. identifying latent property defects - ANSWER-2. disclosing the highest price the
buyer is willing to pay
, Building codes are:
1. created to establish zoning in a neighborhood.
2. ordinances that specify construction standards.
3. established in each neighborhood or development.
4. set up to hear complaints about effects of zoning ordinances. - ANSWER-2.
ordinances that specify construction standards.
An environmental impact statement typically describes the effects of a proposed
project on factors such as:
1. public health and safety.
2. zoning regulations.
3. highest and best use of the land.
4. mapping requirements. - ANSWER-1. public health and safety.
To what party or parties does the broker owe the fiduciary duty of care?
1. the seller
2. both the buyer and the seller
3. the party or parties employing the broker
4. the party or parties paying the commission - ANSWER-3. the party or parties
employing the broker
A minority couple come to a salesperson looking for a house. The salesperson has
some properties for which the couple qualify but avoids showing or mentioning these
listings. Instead, the salesperson shows only properties in low-priced and integrated
neighborhoods. This practice is known as:
1. steering.
2. blockbusting.
3. redlining.
4. conciliation. - ANSWER-1. steering.
A broker and the buyers he represents are anxiously awaiting the closing on their
new home. The closing is scheduled in 4 days. The buyers inform the broker that
they just received revised Loan Estimate and Closing Disclosure forms from the
lender, indicating the Annual Percentage Rate on their loan has increased by 0.3%.
Based on the TILA-RESPA Integrated Disclosure rule, what action should the broker
take in this situation?
1. Assist the buyers in calculating the new loan payments and ask them if they want
to proceed with the closing as scheduled.
2. Advise the buyers to file a legal action against the lender for violation of predatory
lending practices under the Real Estate Settlement Procedures Act.
3. Call the lender and inform them that they are in violation of the seven-day waiting
period and cannot change the terms of the loan this close to the closing.
4. Confirm with the seller's broker, the lender and the - ANSWER-4. Confirm with the
seller's broker, the lender and the closing entity that the closing must be delayed to
allow for a new seven-day waiting period because of the interest rate revision.
PRACTICE EXAM QUESTIONS WITH
CORRECT ANSWERS
A couple are moving to a new city. They have decided to rent temporarily before
buying a house to see which part of the city they would like to live in. What type of
lease would BEST suit the couple's needs?
1. Lease option.
2. Rental lease.
3. Month-to-month lease.
4. Lease purchase. - ANSWER-3. Month-to-month lease.
At the closing on June 15, the buyer is assuming a mortgage presently on the
property, on which the monthly interest charge is currently $600. The seller has
made the payment due on June 1. Assuming a VA mortgage, what is the adjustment
made at closing?
1. Credit seller $300; credit buyer $300.
2. Debit seller $300; debit buyer $300.
3. Credit seller $300; debit buyer $300.
4. Debit seller $300; credit buyer $300. - ANSWER-4. Debit seller $300; credit buyer
$300.
A charge of violation of Federal Fair Housing laws can be heard by an administrative
law judge within the Department of Housing and Urban Development (HUD) or by a
Federal district court judge in Federal court. The advantage of a Federal court
hearing to the complaining party is that:
1. the case will be more thoroughly reviewed.
2. there is no dollar limit on damages paid.
3. only a district court judge can order that the property be sold to the complaining
party.
4. only a district court judge can order jail time for the guilty party. - ANSWER-2.
there is no dollar limit on damages paid.
A real estate salesperson is representing only the buyer in a transaction. Which of
the following actions would be a violation of the salesperson's agency duties to the
client?
1. disclosing the price the seller originally paid for the property
2. disclosing the highest price the buyer is willing to pay
3. preparing a competitive market analysis
4. identifying latent property defects - ANSWER-2. disclosing the highest price the
buyer is willing to pay
, Building codes are:
1. created to establish zoning in a neighborhood.
2. ordinances that specify construction standards.
3. established in each neighborhood or development.
4. set up to hear complaints about effects of zoning ordinances. - ANSWER-2.
ordinances that specify construction standards.
An environmental impact statement typically describes the effects of a proposed
project on factors such as:
1. public health and safety.
2. zoning regulations.
3. highest and best use of the land.
4. mapping requirements. - ANSWER-1. public health and safety.
To what party or parties does the broker owe the fiduciary duty of care?
1. the seller
2. both the buyer and the seller
3. the party or parties employing the broker
4. the party or parties paying the commission - ANSWER-3. the party or parties
employing the broker
A minority couple come to a salesperson looking for a house. The salesperson has
some properties for which the couple qualify but avoids showing or mentioning these
listings. Instead, the salesperson shows only properties in low-priced and integrated
neighborhoods. This practice is known as:
1. steering.
2. blockbusting.
3. redlining.
4. conciliation. - ANSWER-1. steering.
A broker and the buyers he represents are anxiously awaiting the closing on their
new home. The closing is scheduled in 4 days. The buyers inform the broker that
they just received revised Loan Estimate and Closing Disclosure forms from the
lender, indicating the Annual Percentage Rate on their loan has increased by 0.3%.
Based on the TILA-RESPA Integrated Disclosure rule, what action should the broker
take in this situation?
1. Assist the buyers in calculating the new loan payments and ask them if they want
to proceed with the closing as scheduled.
2. Advise the buyers to file a legal action against the lender for violation of predatory
lending practices under the Real Estate Settlement Procedures Act.
3. Call the lender and inform them that they are in violation of the seven-day waiting
period and cannot change the terms of the loan this close to the closing.
4. Confirm with the seller's broker, the lender and the - ANSWER-4. Confirm with the
seller's broker, the lender and the closing entity that the closing must be delayed to
allow for a new seven-day waiting period because of the interest rate revision.
