CT Real Estate Agency 101 UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Broker - CORRECT ANSWER - A person who performs real estate activities for a real
estate consumer. In CT only a broker can enter into an agency relationship with a client. Agency
runs from broker to client. All salespersons working for the broker are automatically agents of
the brokers clients and owe clients fiduciary duties.
Fiduciary responsibility - CORRECT ANSWER - Care, Obedience, Loyalty, disclosure,
accounting and confidentiality (COLDAC)
Fiduciary r and customers - CORRECT ANSWER - Fidicuary duties are not owed to a
customer. You do own them honesty though.
Continuing Education - CORRECT ANSWER - Every 2 years, by may 31st for
salespersons and march 21 for brokers - 12 hours of real estste education.
Offers - CORRECT ANSWER - In CT you must present all offers received without
altering or omitting pertinent details that may influence anyone, and ensure that everything is
documented and written up.
Cooperation - CORRECT ANSWER - don't be difficult.
What is required by law if a broker wishes to collect payment for services provided - CORRECT
ANSWER - Written Agency Agreement
Does Ct law permit a broker to represent two clients involved in the same transaction? -
CORRECT ANSWER - yes. Dual Agency is allowed ONLY if both clients give written
informed consent. All sales persons working for the broker are then also dual agents . BUT the
broker can make them designated agents and the salespeople lose their dual agency( with the
written consent of the buyer and seller).
, What procedure is followed with unrepresented customers - CORRECT ANSWER -
Broker must disclose to the unrepresented customer that the broker/salesperson does not
represent the customer but rather represents whoever the b0orker's client is. Use the Real Estate
Disclosure Notice Given to Unrepresented Persons.
Diligent Effort - CORRECT 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... - CORRECT 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
Engaging in the Real Estate Business - CORRECT ANSWER - Any person acting for
another for a fee, commission, or other valuable consideration, who performs or offers or
attempts to perform brokerage activities.
Guaranty Fund - CORRECT ANSWER - Fund from which persons may recover
compensation if they are aggrieved by the following actions of a real estate broker, salesperson
or unlicensed employee of a broker
-embezzlement
Interfering with Agency Relationship - CORRECT ANSWER - - demanding a referral fee
from another licensee without reasonable cause
-threatening to take harmful actions against the client of another licensee because of agency
relationship
-counseling a client of another licensee on how to terminate or amend an existing agency
contract
Internet Advertising - rules - CORRECT ANSWER - Must include on EVERY PAGE of
the site...
ACTUAL Exam Questions and CORRECT
Answers
Broker - CORRECT ANSWER - A person who performs real estate activities for a real
estate consumer. In CT only a broker can enter into an agency relationship with a client. Agency
runs from broker to client. All salespersons working for the broker are automatically agents of
the brokers clients and owe clients fiduciary duties.
Fiduciary responsibility - CORRECT ANSWER - Care, Obedience, Loyalty, disclosure,
accounting and confidentiality (COLDAC)
Fiduciary r and customers - CORRECT ANSWER - Fidicuary duties are not owed to a
customer. You do own them honesty though.
Continuing Education - CORRECT ANSWER - Every 2 years, by may 31st for
salespersons and march 21 for brokers - 12 hours of real estste education.
Offers - CORRECT ANSWER - In CT you must present all offers received without
altering or omitting pertinent details that may influence anyone, and ensure that everything is
documented and written up.
Cooperation - CORRECT ANSWER - don't be difficult.
What is required by law if a broker wishes to collect payment for services provided - CORRECT
ANSWER - Written Agency Agreement
Does Ct law permit a broker to represent two clients involved in the same transaction? -
CORRECT ANSWER - yes. Dual Agency is allowed ONLY if both clients give written
informed consent. All sales persons working for the broker are then also dual agents . BUT the
broker can make them designated agents and the salespeople lose their dual agency( with the
written consent of the buyer and seller).
, What procedure is followed with unrepresented customers - CORRECT ANSWER -
Broker must disclose to the unrepresented customer that the broker/salesperson does not
represent the customer but rather represents whoever the b0orker's client is. Use the Real Estate
Disclosure Notice Given to Unrepresented Persons.
Diligent Effort - CORRECT 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... - CORRECT 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
Engaging in the Real Estate Business - CORRECT ANSWER - Any person acting for
another for a fee, commission, or other valuable consideration, who performs or offers or
attempts to perform brokerage activities.
Guaranty Fund - CORRECT ANSWER - Fund from which persons may recover
compensation if they are aggrieved by the following actions of a real estate broker, salesperson
or unlicensed employee of a broker
-embezzlement
Interfering with Agency Relationship - CORRECT ANSWER - - demanding a referral fee
from another licensee without reasonable cause
-threatening to take harmful actions against the client of another licensee because of agency
relationship
-counseling a client of another licensee on how to terminate or amend an existing agency
contract
Internet Advertising - rules - CORRECT ANSWER - Must include on EVERY PAGE of
the site...
