Real Estate Connecticut: Commission and
Licensing Requirements UPDATED
ACTUAL Questions and CORRECT
Answers
Why was the Real Estate Commission created? - CORRECT ANSWER - To protect the
public
Why did CT create a Real Estate Commission? - CORRECT ANSWER - For
administrative power and duties, like licensure
What important federal department does the CT Real Estate Commission operate under? -
CORRECT ANSWER - Department of Consumer Protection
What is the purpose of the Department of Consumer Protection? - CORRECT ANSWER -
granting licenses "only to persons...competent to transact the business of real estate...in such a
manners to safeguard the interests of the public...and with due regard to the paramount interests
of the public"
How many commissioners are in the CT Real Estate Commission? - CORRECT
ANSWER -8
Who appoints the commissioners of the CT Real Estate Commission? - CORRECT
ANSWER - The Governor
What can the CT Real Estate Commission REQUEST the Department of Consumer Protection to
do? - CORRECT ANSWER - Investigate the actions of a real estate broker or salesperson
If you are being investigated by the Department of Consumer Protection or CT Real Estate
Commission, what must you do? - CORRECT ANSWER - Cooperate with investigation
and do not lie to investigation or hearing
, What are some powers of the CT Real Estate Commission - CORRECT ANSWER --
Request the Department of Consumer Protection to investigate the actions of a real estate broker
or salesperson
- determining whether or not provisions of the license law have been violated
- determining appropriate penalties or fines
No more than a $2,000 fine can be imposed for... - CORRECT ANSWER - 1.
misrepresentation
2. obtaining a license illegally
3. a false promise of a character
4. acting as an agent for multiple people in 1 transaction and not letting the parties in the
transaction know this fact
5. pretending to represent a real estate broker without their knowledge or your own broker
6. failing to give back money that is not yours in a timely manner
7. entering an EXCLUSIVE contract that has a termination date and automatic continuation date
that go against each other
8. failing to immediately give a copy of a contract to all parties
9. Convicted in a court for forgery, embezzlement, obtaining money under false pretenses,
larceny, extortion, conspiracy to defraud, etc.
10. Collecting compensation for a service, upon your client asking, and then failing to show the
accounting of where the money went.
11. commingling funds with the realtors own funds
12. failing to keep funds of others in an escrow or trustee account
13. conduct that is dishonest, fraudulent, or improper
14. failing to provide the disclosure by section 20-325c
15. to either refuse or intentionally fail to refer a homebuyer to a lender or mortgage broker who
uses an appraiser whose appraisal is less than the sale contract price
No more than a $1,000 fine can be imposed for... - CORRECT ANSWER - 1. receiving a
referral fee for referring any buyer to an attorney, mortgage broker, or lender
Licensing Requirements UPDATED
ACTUAL Questions and CORRECT
Answers
Why was the Real Estate Commission created? - CORRECT ANSWER - To protect the
public
Why did CT create a Real Estate Commission? - CORRECT ANSWER - For
administrative power and duties, like licensure
What important federal department does the CT Real Estate Commission operate under? -
CORRECT ANSWER - Department of Consumer Protection
What is the purpose of the Department of Consumer Protection? - CORRECT ANSWER -
granting licenses "only to persons...competent to transact the business of real estate...in such a
manners to safeguard the interests of the public...and with due regard to the paramount interests
of the public"
How many commissioners are in the CT Real Estate Commission? - CORRECT
ANSWER -8
Who appoints the commissioners of the CT Real Estate Commission? - CORRECT
ANSWER - The Governor
What can the CT Real Estate Commission REQUEST the Department of Consumer Protection to
do? - CORRECT ANSWER - Investigate the actions of a real estate broker or salesperson
If you are being investigated by the Department of Consumer Protection or CT Real Estate
Commission, what must you do? - CORRECT ANSWER - Cooperate with investigation
and do not lie to investigation or hearing
, What are some powers of the CT Real Estate Commission - CORRECT ANSWER --
Request the Department of Consumer Protection to investigate the actions of a real estate broker
or salesperson
- determining whether or not provisions of the license law have been violated
- determining appropriate penalties or fines
No more than a $2,000 fine can be imposed for... - CORRECT ANSWER - 1.
misrepresentation
2. obtaining a license illegally
3. a false promise of a character
4. acting as an agent for multiple people in 1 transaction and not letting the parties in the
transaction know this fact
5. pretending to represent a real estate broker without their knowledge or your own broker
6. failing to give back money that is not yours in a timely manner
7. entering an EXCLUSIVE contract that has a termination date and automatic continuation date
that go against each other
8. failing to immediately give a copy of a contract to all parties
9. Convicted in a court for forgery, embezzlement, obtaining money under false pretenses,
larceny, extortion, conspiracy to defraud, etc.
10. Collecting compensation for a service, upon your client asking, and then failing to show the
accounting of where the money went.
11. commingling funds with the realtors own funds
12. failing to keep funds of others in an escrow or trustee account
13. conduct that is dishonest, fraudulent, or improper
14. failing to provide the disclosure by section 20-325c
15. to either refuse or intentionally fail to refer a homebuyer to a lender or mortgage broker who
uses an appraiser whose appraisal is less than the sale contract price
No more than a $1,000 fine can be imposed for... - CORRECT ANSWER - 1. receiving a
referral fee for referring any buyer to an attorney, mortgage broker, or lender
