Ct real estate exam prep ch 1-3 UPDATED
ACTUAL Exam Questions and CORRECT
Answers
What type of agency agreement is required in CT? - CORRECT ANSWER - A written
agency agreement is required in order for the broker to recieve payment
What are the 6 fiduciary responsibilities? - CORRECT ANSWER - Care, obedience,
loyalty, disclosure, Accounting and confidentiality (COLD-AC)
Is dual agency permitted in CT? - CORRECT ANSWER - Yes, with informed consent
What is designated agency? - CORRECT ANSWER - Where the buyer and the seller each
have their own agent, but both of those agents work for the same broker
What is dual agency? - CORRECT ANSWER - an agent that works with both the buyer
and seller of a home.
Does a sale have to take place for a broker to receive commission? - CORRECT
ANSWER - No, as long as the broker produces a ready, willing and able buyer
Can a broker receive a referral fee from a lawyer? - CORRECT ANSWER - No, they can't
receive referral fees for the referral of a buyer to an attorney, mortgage broker, or lender
A licensed real estate salesperson must be
A. affiliated with a licensed real estate broker.
B. an employee of a licensed real estate broker.
, C. an independent contractor.
D. willing to enter into agency relationships with clients - CORRECT ANSWER - Ans = A
A real estate broker's license allows a broker to do all of the following EXCEPT
A. sell real estate.
B. resell a mobile home.
C. collect rent on behalf of a landlord.
D. appraise real estate - CORRECT ANSWER - Ans = D
A licensed real estate salesperson must be with a licensed real estate broker.
A. affiliated with a licensed real estate broker.
B. an employee of a licensed real estate broker.
C. an independent contractor.
D. willing to enter into agency relationships with clients. - CORRECT ANSWER - Ans =
A
Under Connecticut licensing law, a limited liability company (LLC) will be granted a broker's
license only if
ACTUAL Exam Questions and CORRECT
Answers
What type of agency agreement is required in CT? - CORRECT ANSWER - A written
agency agreement is required in order for the broker to recieve payment
What are the 6 fiduciary responsibilities? - CORRECT ANSWER - Care, obedience,
loyalty, disclosure, Accounting and confidentiality (COLD-AC)
Is dual agency permitted in CT? - CORRECT ANSWER - Yes, with informed consent
What is designated agency? - CORRECT ANSWER - Where the buyer and the seller each
have their own agent, but both of those agents work for the same broker
What is dual agency? - CORRECT ANSWER - an agent that works with both the buyer
and seller of a home.
Does a sale have to take place for a broker to receive commission? - CORRECT
ANSWER - No, as long as the broker produces a ready, willing and able buyer
Can a broker receive a referral fee from a lawyer? - CORRECT ANSWER - No, they can't
receive referral fees for the referral of a buyer to an attorney, mortgage broker, or lender
A licensed real estate salesperson must be
A. affiliated with a licensed real estate broker.
B. an employee of a licensed real estate broker.
, C. an independent contractor.
D. willing to enter into agency relationships with clients - CORRECT ANSWER - Ans = A
A real estate broker's license allows a broker to do all of the following EXCEPT
A. sell real estate.
B. resell a mobile home.
C. collect rent on behalf of a landlord.
D. appraise real estate - CORRECT ANSWER - Ans = D
A licensed real estate salesperson must be with a licensed real estate broker.
A. affiliated with a licensed real estate broker.
B. an employee of a licensed real estate broker.
C. an independent contractor.
D. willing to enter into agency relationships with clients. - CORRECT ANSWER - Ans =
A
Under Connecticut licensing law, a limited liability company (LLC) will be granted a broker's
license only if
