CT Real Estate Licensing Practice
Exam
A dealer and the buyers he represents are anxiously anticipating the last on their new home.
The last is scheduled in 4 days. The shoppers inform the dealer that they just obtained
revised Loan Estimate and Closing Disclosure bureaucracy from the lender, indicating the
Annual Percentage Rate on their mortgage has accelerated by means of 0.3%. Based at the
TILA-RESPA Integrated Disclosure rule, what motion have to the broking absorb this
situation?
1. Assist the customers in calculating the new loan bills and ask them in the event that they
need to continue with the final as scheduled.
2. Advise the customers to record a criminal motion in opposition to the lender for violation of
predatory lending practices beneath the Real Estate Settlement Procedures Act.
Three. Call the lender and tell them that they are in violation of the seven-day ready length
and can not alternate the phrases of the mortgage this near the final.
Four. Confirm with the vendor's broking, the lender and the - ANS-4. Confirm with the seller's
broking, the lender and the last entity that the ultimate ought to be delayed to allow for a
brand new seven-day waiting duration because of the hobby rate revision.
A dealer has brought a equipped, willing, and in a position customer to a vendor. In MOST
listing contracts, the broker has earned his commission whilst:
1. Any provide is brought to the seller.
2. The vendor accepts the offer.
3. All contingencies are removed.
Four. The sale closes. - ANS-2. The vendor accepts the provide.
A dealer has signed a listing contract for the sale of a home. Which of the following should
make this agreement voidable?
1. The seller cannot write and sign with an "X".
2. The list settlement specifies that no different broking might also show the house.
3. The vendor is closely beneath the influence of alcohol at the time of signing.
Four. The list contract specifies that a commission could be paid simplest if the house is
offered within three weeks. - ANS-three. The vendor is heavily underneath the impact of
alcohol on the time of signing.
A buyer wants to buy a domestic for $one hundred sixty,000 with a 15% down fee. The
lender expenses 2 factors. How a lot money does the buyer want up the front to make the
purchase?
1. $2,720
,2. $24,000
three. $24,408
4. $26,720 - ANS-4. $26,720
A buyer become negotiating the purchase of a residence for himself. During a
communication with the vendor, the seller agreed to encompass all kitchen appliances in the
sale, and this truth become included inside the sales settlement. In this situation, if the seller
takes the appliances with him, what recourse does the buyer have?
1. The buyer has no recourse because he negotiated the sale himself.
2. The consumer may claim the sales settlement invalid.
3. The consumer may sue the vendor for partial overall performance.
4. The client may also sue the seller for unique performance. - ANS-four. The customer
might also sue the vendor for specific performance.
A price of violation of Federal Fair Housing legal guidelines can be heard by means of an
administrative regulation judge inside the Department of Housing and Urban Development
(HUD) or with the aid of a Federal district court choose in Federal court docket. The
advantage of a Federal courtroom listening to to the complaining party is that:
1. The case will be greater thoroughly reviewed.
2. There is no dollar limit on damages paid.
Three. Best a district courtroom judge can order that the belongings be offered to the
complaining birthday party.
Four. Most effective a district courtroom judge can order jail time for the responsible birthday
party. - ANS-2. There is no greenback restriction on damages paid.
A company agrees to hire a belongings for use as a gambling on line casino. State legal
guidelines prohibit gambling. This unique agreement would be legally described as:
1. Void.
2. Voidable.
3. Valid.
Four. Unenforceable. - ANS-1. Void.
A aggressive market analysis takes into consideration:
1. Rectangular footage of the subject property.
2. Community nuisances.
3. Unemployment ranges inside the network.
4. Age of the sellers. - ANS-1. Rectangular footage of the concern belongings.
A settlement for the sale of a home has been signed by way of each parties. This contract
will remain executory until:
1. Acceptance of the client's offer is delivered to the client.
2. The transaction has closed.
3. All contingencies were met.
, 4. The consumer takes ownership. - ANS-2. The transaction has closed.
A settlement has been drawn which obliges the dealers to bring identify to their land to the
customers if the shoppers give you $22,000 on or earlier than December 31st. This is known
as:
1. A purchase-sell agreement.
2. An option settlement.
3. An installment agreement.
4. A vendor's lien interest. - ANS-2. An option contract.
A couple are shifting to a brand new town. They have determined to rent briefly earlier than
buying a residence to see which a part of the metropolis they would like to stay in. What form
of hire would BEST in shape the couple's wishes?
1. Lease option.
2. Rental hire.
Three. Month-to-month rent.
Four. Lease purchase. - ANS-three. Month-to-month lease.
A couple listed their domestic with a broking. After 2 months, the vendor determined a
customer, and the sale closed. The vendor changed into no longer obligated to pay a fee to
the dealer. This list turned into MOST in all likelihood:
1. An distinctive corporation listing.
2. An different proper to sell list.
Three. A internet listing.
4. An advance rate list. - ANS-1. An distinct company listing.
A couple owns an older home in a neighborhood this is becoming a commercial place.
Because of the trade within the use of the land, the couple can expect the cost in their parcel
to growth at some future time. This is an example of the principle of:
1. Substitution.
2. Contribution.
Three. Conformity.
Four. Anticipation. - ANS-4. Anticipation.
A deed restrict is applicable to the sports of:
1. The contemporary proprietor only.
2. Gift and future owners.
3. Destiny proprietors most effective.
4. Mortgagors. - ANS-2. Present and destiny owners.
A gross rent may be best defined as one in which the tenant will pay, as a part of the lease,
1. All assets changes apart from utilities.
Exam
A dealer and the buyers he represents are anxiously anticipating the last on their new home.
The last is scheduled in 4 days. The shoppers inform the dealer that they just obtained
revised Loan Estimate and Closing Disclosure bureaucracy from the lender, indicating the
Annual Percentage Rate on their mortgage has accelerated by means of 0.3%. Based at the
TILA-RESPA Integrated Disclosure rule, what motion have to the broking absorb this
situation?
1. Assist the customers in calculating the new loan bills and ask them in the event that they
need to continue with the final as scheduled.
2. Advise the customers to record a criminal motion in opposition to the lender for violation of
predatory lending practices beneath the Real Estate Settlement Procedures Act.
Three. Call the lender and tell them that they are in violation of the seven-day ready length
and can not alternate the phrases of the mortgage this near the final.
Four. Confirm with the vendor's broking, the lender and the - ANS-4. Confirm with the seller's
broking, the lender and the last entity that the ultimate ought to be delayed to allow for a
brand new seven-day waiting duration because of the hobby rate revision.
A dealer has brought a equipped, willing, and in a position customer to a vendor. In MOST
listing contracts, the broker has earned his commission whilst:
1. Any provide is brought to the seller.
2. The vendor accepts the offer.
3. All contingencies are removed.
Four. The sale closes. - ANS-2. The vendor accepts the provide.
A dealer has signed a listing contract for the sale of a home. Which of the following should
make this agreement voidable?
1. The seller cannot write and sign with an "X".
2. The list settlement specifies that no different broking might also show the house.
3. The vendor is closely beneath the influence of alcohol at the time of signing.
Four. The list contract specifies that a commission could be paid simplest if the house is
offered within three weeks. - ANS-three. The vendor is heavily underneath the impact of
alcohol on the time of signing.
A buyer wants to buy a domestic for $one hundred sixty,000 with a 15% down fee. The
lender expenses 2 factors. How a lot money does the buyer want up the front to make the
purchase?
1. $2,720
,2. $24,000
three. $24,408
4. $26,720 - ANS-4. $26,720
A buyer become negotiating the purchase of a residence for himself. During a
communication with the vendor, the seller agreed to encompass all kitchen appliances in the
sale, and this truth become included inside the sales settlement. In this situation, if the seller
takes the appliances with him, what recourse does the buyer have?
1. The buyer has no recourse because he negotiated the sale himself.
2. The consumer may claim the sales settlement invalid.
3. The consumer may sue the vendor for partial overall performance.
4. The client may also sue the seller for unique performance. - ANS-four. The customer
might also sue the vendor for specific performance.
A price of violation of Federal Fair Housing legal guidelines can be heard by means of an
administrative regulation judge inside the Department of Housing and Urban Development
(HUD) or with the aid of a Federal district court choose in Federal court docket. The
advantage of a Federal courtroom listening to to the complaining party is that:
1. The case will be greater thoroughly reviewed.
2. There is no dollar limit on damages paid.
Three. Best a district courtroom judge can order that the belongings be offered to the
complaining birthday party.
Four. Most effective a district courtroom judge can order jail time for the responsible birthday
party. - ANS-2. There is no greenback restriction on damages paid.
A company agrees to hire a belongings for use as a gambling on line casino. State legal
guidelines prohibit gambling. This unique agreement would be legally described as:
1. Void.
2. Voidable.
3. Valid.
Four. Unenforceable. - ANS-1. Void.
A aggressive market analysis takes into consideration:
1. Rectangular footage of the subject property.
2. Community nuisances.
3. Unemployment ranges inside the network.
4. Age of the sellers. - ANS-1. Rectangular footage of the concern belongings.
A settlement for the sale of a home has been signed by way of each parties. This contract
will remain executory until:
1. Acceptance of the client's offer is delivered to the client.
2. The transaction has closed.
3. All contingencies were met.
, 4. The consumer takes ownership. - ANS-2. The transaction has closed.
A settlement has been drawn which obliges the dealers to bring identify to their land to the
customers if the shoppers give you $22,000 on or earlier than December 31st. This is known
as:
1. A purchase-sell agreement.
2. An option settlement.
3. An installment agreement.
4. A vendor's lien interest. - ANS-2. An option contract.
A couple are shifting to a brand new town. They have determined to rent briefly earlier than
buying a residence to see which a part of the metropolis they would like to stay in. What form
of hire would BEST in shape the couple's wishes?
1. Lease option.
2. Rental hire.
Three. Month-to-month rent.
Four. Lease purchase. - ANS-three. Month-to-month lease.
A couple listed their domestic with a broking. After 2 months, the vendor determined a
customer, and the sale closed. The vendor changed into no longer obligated to pay a fee to
the dealer. This list turned into MOST in all likelihood:
1. An distinctive corporation listing.
2. An different proper to sell list.
Three. A internet listing.
4. An advance rate list. - ANS-1. An distinct company listing.
A couple owns an older home in a neighborhood this is becoming a commercial place.
Because of the trade within the use of the land, the couple can expect the cost in their parcel
to growth at some future time. This is an example of the principle of:
1. Substitution.
2. Contribution.
Three. Conformity.
Four. Anticipation. - ANS-4. Anticipation.
A deed restrict is applicable to the sports of:
1. The contemporary proprietor only.
2. Gift and future owners.
3. Destiny proprietors most effective.
4. Mortgagors. - ANS-2. Present and destiny owners.
A gross rent may be best defined as one in which the tenant will pay, as a part of the lease,
1. All assets changes apart from utilities.
