Estate License Law Exam Questions
and Answers 100% Pass
A person of entity engaging in the real estate business in CT must have - ✔✔CT Real
Estate License
2 Categories of License: - ✔✔Broker and Salesperson (Both are Licensees)
A salesperson - ✔✔must be affiliated with and can only work on behalf of a broker
Connecticut Real Estate Commission - ✔✔Enforces CT licensing laws
Main responsibilites:
(1) Issue Licenses
(2) Arbitrate disputes between brokers and salespersons
(3) Investigate and prosecute complaints against licensees
(4) Formulate and enforce rues and regulations regarding licensing and conduct of
licensees
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, Structure of Real Estate Commission: - ✔✔(1) 8 Members -- Five of Real Estate
Business (3 Brokers and 2 Licensed Salespersons) 3 Member of the Public
(2) At least one member from each congressional district
(3) Not more than a bare majority from the same political party
Members of Commission:
(1) Must be electors in state
(2) Are appointed by the governor
(3) Take an oath to perform faithfully the prescribed duties
(4) May be removed from office for cause by the governor after being given an
opportunity to be heard
Commission Members select a chairperson: - ✔✔When voting on issues a majority of
members constitutes a quorum
Seats vacated through resignation, death, or removal are filled by appointees of the
governor
Commission members are not paid for their services but are reimbursed for necessary
expenses incurred in the performance of their duties
Real Estate Guaranty Fund - ✔✔$20 Fee assessed on new real estate licensees to fund
Real Estate Guaranty Fund
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