Real estate official practice exam
A void contract is one that: - answer was never legally enforceable
Once a newly constructed property has been declared habitable by meeting certain
health and safety standards, what is a builder issued by the municipality? - answer
Certificate of Occupancy
The most commonly used title search in Connecticut is: - answerthe attorney's
certificate of title
A real estate broker's responsibility to keep the principal informed of all of the facts that
could effect a transaction is the duty of: - answer disclosure
Functional obsolescence can be created by: - answeran over improvement
Connecticut Public Accommodations Law: - answerprohibits discrimination in any place
of public accommodation
A house is valued at $175,000 and assessed for 60% of its value. If the tax bill is $3,150
what is the rate per $100? - answer$3
Loan-to-value ratio refers to the ratio of the loan to: - answerAppraised value
A metes-and-bounds legal description: - answermust commence and finish at the same
identifiable point
Under which of the following events can there be an exception to the Connecticut Fair
Housing Laws: - answerthe rental ofunits in a home intenteded to be occupied by no
more than two families if the owner actually lives in one of the two units
Mr. Jones passed the Connecticut real estate license examination, but is not yet
licensed. As an emplovee for Broker Smith, he helps in selling a house to a client. How
is the sales commission distributed? - answerThe commission is paid the real estate
firm, but Mr. Jones receives no portion of it
A property is assessed at 53% of market value. What is the assessed value of that
property if it has a market value of $125,000? - answer125,000 x .53 = 66,250
Under CT law, which of the following is a mandated disclosure for residential
properties? - answerResidential Property Condition Disclosure Report
, Which of the following is not a form of co-ownership? - answerTenancy at will
A listing contract in which payment of the commission is contingent on the broker's
being able to produce a buyer before the property is sold by the owner or another
broker is called a(n): - answeropen listing
If no period is set for a residential tenancy but rent is to be paid monthly, the lease is a: -
answermonth-to-month tenancy
The Closing Disclosure Form must be given to the borrower: - answerat least 3
business days prior to the closing
The maximum compensation will be paid from the Connecticut Real Estate Guaranty
Fund for a single transaction is: - answer$10,000
The water rights of an owner of property located along the banks of a non-navigable
river are called: - answerriparian rights
A salesperson receives $2,250 as his 50% of the commission on a $75,000 sale. The
full commission was computed at rate of: - answer6%
Lead poisoning can occur when: - answer-children injest lead paint dust
-lead in pipes leaches into water supply
Under CT law, which of the following is true: - answer-licensee shall not misrepresent or
conceal any material fact
-actual sale price must be accurately represented
-full disclosure of the brokers name, address and telephone number shall be utilized in
advertising
All of the following have been proven to pose a health hazard EXCEPT: -
answerelectromagnetic fields
An appraiser who is using the sales comparison approach to value would most likely
use which of the following similar homes as a comparable property? One that was: -
answersold within the last 6 months or less and is the same style
Under a standard listing contract, a Connecticut broker is considered to be a: -
answerspecial agent
The prescriptive period in the state of Connecticut to acquire title to real property
through adverse possession is: - answer15 years
A seller refused to pay a commission to the broker even though there was a valid listing
agreement and the broker had procured abuyer for the property. The property has
sinceclosed. What can the broker do? - answersue the seller for the commission
A void contract is one that: - answer was never legally enforceable
Once a newly constructed property has been declared habitable by meeting certain
health and safety standards, what is a builder issued by the municipality? - answer
Certificate of Occupancy
The most commonly used title search in Connecticut is: - answerthe attorney's
certificate of title
A real estate broker's responsibility to keep the principal informed of all of the facts that
could effect a transaction is the duty of: - answer disclosure
Functional obsolescence can be created by: - answeran over improvement
Connecticut Public Accommodations Law: - answerprohibits discrimination in any place
of public accommodation
A house is valued at $175,000 and assessed for 60% of its value. If the tax bill is $3,150
what is the rate per $100? - answer$3
Loan-to-value ratio refers to the ratio of the loan to: - answerAppraised value
A metes-and-bounds legal description: - answermust commence and finish at the same
identifiable point
Under which of the following events can there be an exception to the Connecticut Fair
Housing Laws: - answerthe rental ofunits in a home intenteded to be occupied by no
more than two families if the owner actually lives in one of the two units
Mr. Jones passed the Connecticut real estate license examination, but is not yet
licensed. As an emplovee for Broker Smith, he helps in selling a house to a client. How
is the sales commission distributed? - answerThe commission is paid the real estate
firm, but Mr. Jones receives no portion of it
A property is assessed at 53% of market value. What is the assessed value of that
property if it has a market value of $125,000? - answer125,000 x .53 = 66,250
Under CT law, which of the following is a mandated disclosure for residential
properties? - answerResidential Property Condition Disclosure Report
, Which of the following is not a form of co-ownership? - answerTenancy at will
A listing contract in which payment of the commission is contingent on the broker's
being able to produce a buyer before the property is sold by the owner or another
broker is called a(n): - answeropen listing
If no period is set for a residential tenancy but rent is to be paid monthly, the lease is a: -
answermonth-to-month tenancy
The Closing Disclosure Form must be given to the borrower: - answerat least 3
business days prior to the closing
The maximum compensation will be paid from the Connecticut Real Estate Guaranty
Fund for a single transaction is: - answer$10,000
The water rights of an owner of property located along the banks of a non-navigable
river are called: - answerriparian rights
A salesperson receives $2,250 as his 50% of the commission on a $75,000 sale. The
full commission was computed at rate of: - answer6%
Lead poisoning can occur when: - answer-children injest lead paint dust
-lead in pipes leaches into water supply
Under CT law, which of the following is true: - answer-licensee shall not misrepresent or
conceal any material fact
-actual sale price must be accurately represented
-full disclosure of the brokers name, address and telephone number shall be utilized in
advertising
All of the following have been proven to pose a health hazard EXCEPT: -
answerelectromagnetic fields
An appraiser who is using the sales comparison approach to value would most likely
use which of the following similar homes as a comparable property? One that was: -
answersold within the last 6 months or less and is the same style
Under a standard listing contract, a Connecticut broker is considered to be a: -
answerspecial agent
The prescriptive period in the state of Connecticut to acquire title to real property
through adverse possession is: - answer15 years
A seller refused to pay a commission to the broker even though there was a valid listing
agreement and the broker had procured abuyer for the property. The property has
sinceclosed. What can the broker do? - answersue the seller for the commission
