CT Real Estate: Chapters 1-10 Practice
Exam Questions and Answers 100%
Pass
1. A bill of sale is used to transfer the ownership of
a. real property.
b. fixtures.
c. appurtenances.
d. personal property. - ✔✔d. personal property.
2. The use of borrowed money to finance a purchase with a relatively small down
payment is called
a. an encroachment.
b. leverage.
c. capital gain.
d. appreciation. - ✔✔b. leverage.
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,3. A real estate licensee helps both buyers and sellers with paperwork for
transferring property. The licensee is not an agent of either party and may not
disclose either party's confidential information to the other. Which of the following
BEST describes the licensee?
a. Transactional broker
b. Buyer's agent
c. Independent contractor
d. Dual agent - ✔✔a. Transactional broker
4. A buyer and seller are both clients of a real estate broker. Which of the following
statements is TRUE of this situation?
a. The real estate broker owes neither party the fiduciary duties of an agent.
b. This arrangement is always illegal.
c. The real estate broker owes the fiduciary duties of an agent only to the seller.
d. The real estate broker owes the fiduciary duties of an agent to both. - ✔✔d. The
real estate broker owes the fiduciary duties of an agent to both.
5. A real estate sales associate shows properties listed for sale with the brokerage to a
prospective buyer. The buyer has refused buyer representation. The buyer is the real
estate brokerage's
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,a. client.
b. customer.
c. principal.
d. fiduciary. - ✔✔b. customer.
6. A broker who represents a seller under an exclusive agency listing receives two
offers for the property at the same time, one from a sales associate of the broker and
one from the sales associate of a cooperating broker. The broker should
a. submit both offers at the same time.
b. submit the offer from the broker's sales associate first.
c. submit the offer from the cooperating broker's sales associate first.
d. submit the higher offer first. - ✔✔a. submit both offers at the same time.
7. A real estate broker is helping a buyer and a seller fill out a sales contract but is not
representing either party. The real estate broker is
a. a traditional broker.
b. a designated broker.
c. a transactional broker.
d. an unlicensed broker - ✔✔c. transactional broker.
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, 8. To net an owner $900,000 after the listing broker is paid a 6% commission, the list
price would be
a. $954,050.
b. $957,447.
c. $959,060.
d. $960,000. - ✔✔b. $957,447.
9. A small office building sold for $949,000, and the broker received a commission of
$55,042. What was the broker's commission rate?
a. 5.8%
b. 6.2%
c. 7%
d. 11.3% - ✔✔a. 5.8%
10. A property owner wishes to net $56,500 from the sale of a vacant lot. After paying
closing costs of $2,285 and a 7% commission, what must the selling price be (rounded
to the nearest dollar)?
a. $60,455
b. $60,753
c. $62,400
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Exam Questions and Answers 100%
Pass
1. A bill of sale is used to transfer the ownership of
a. real property.
b. fixtures.
c. appurtenances.
d. personal property. - ✔✔d. personal property.
2. The use of borrowed money to finance a purchase with a relatively small down
payment is called
a. an encroachment.
b. leverage.
c. capital gain.
d. appreciation. - ✔✔b. leverage.
Brittie Donald, All Rights Reserved © 2025 1
,3. A real estate licensee helps both buyers and sellers with paperwork for
transferring property. The licensee is not an agent of either party and may not
disclose either party's confidential information to the other. Which of the following
BEST describes the licensee?
a. Transactional broker
b. Buyer's agent
c. Independent contractor
d. Dual agent - ✔✔a. Transactional broker
4. A buyer and seller are both clients of a real estate broker. Which of the following
statements is TRUE of this situation?
a. The real estate broker owes neither party the fiduciary duties of an agent.
b. This arrangement is always illegal.
c. The real estate broker owes the fiduciary duties of an agent only to the seller.
d. The real estate broker owes the fiduciary duties of an agent to both. - ✔✔d. The
real estate broker owes the fiduciary duties of an agent to both.
5. A real estate sales associate shows properties listed for sale with the brokerage to a
prospective buyer. The buyer has refused buyer representation. The buyer is the real
estate brokerage's
Brittie Donald, All Rights Reserved © 2025 2
,a. client.
b. customer.
c. principal.
d. fiduciary. - ✔✔b. customer.
6. A broker who represents a seller under an exclusive agency listing receives two
offers for the property at the same time, one from a sales associate of the broker and
one from the sales associate of a cooperating broker. The broker should
a. submit both offers at the same time.
b. submit the offer from the broker's sales associate first.
c. submit the offer from the cooperating broker's sales associate first.
d. submit the higher offer first. - ✔✔a. submit both offers at the same time.
7. A real estate broker is helping a buyer and a seller fill out a sales contract but is not
representing either party. The real estate broker is
a. a traditional broker.
b. a designated broker.
c. a transactional broker.
d. an unlicensed broker - ✔✔c. transactional broker.
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, 8. To net an owner $900,000 after the listing broker is paid a 6% commission, the list
price would be
a. $954,050.
b. $957,447.
c. $959,060.
d. $960,000. - ✔✔b. $957,447.
9. A small office building sold for $949,000, and the broker received a commission of
$55,042. What was the broker's commission rate?
a. 5.8%
b. 6.2%
c. 7%
d. 11.3% - ✔✔a. 5.8%
10. A property owner wishes to net $56,500 from the sale of a vacant lot. After paying
closing costs of $2,285 and a 7% commission, what must the selling price be (rounded
to the nearest dollar)?
a. $60,455
b. $60,753
c. $62,400
Brittie Donald, All Rights Reserved © 2025 4
