CT Real Estate Licensing Practice
Exam Questions with Correct Answers
A home buyer is obtaining a fully amortized loan in the amount of $140,000. The
savings and loan will give him the loan for 15 years at 5% or for 30 years at 6%. To
the nearest dollar, what is the difference between the monthly payments for these
two loans? (BE SURE TO USE THE AMORTIZATION TABLE.)
1. $74
2. $87
3. $267
4. $342 - ANSWER-3. $267
Failure of a real estate agent to comply with Fair Housing practices is punishable by:
1. license revocation only.
2. criminal prosecution only.
3. license revocation and criminal prosecution.
4. probation. - ANSWER-3. license revocation and criminal prosecution.
The Department of Housing and Urban Development estimates that most private
homes built before 1978 contain potentially dangerous levels of lead. Because of
this, some Federal agencies, such as FHA,
1. will no longer lend or guarantee loans on these older properties.
2. require evidence of testing for and disclosure of any type of lead contamination
before they will lend or guarantee loans on such properties.
3. require funds to be escrowed for lead abatement as a condition of lending or
guaranteeing loans on such properties.
4. require the buyer to acknowledge disclosure of the presence of any known lead
paint. - ANSWER-4. require the buyer to acknowledge disclosure of the presence of
any known lead paint.
State laws differ on whether a buyer is entitled to know about:
1. a suicide that occurred in the house last year.
2. possible lead paint in the property.
3. the flooding of the basement every spring.
4. the fact that the sellers are getting a divorce. - ANSWER-1. a suicide that occurred
in the house last year.
Three people buy a house as tenants in common. Subsequently, two of the owners
want to sell, but the third discourages each potential purchaser. The two owners who
wish to sell the house can:
1. sell without the third owner's consent.
, 2. file an action for partition against the third owner.
3. file for a lien against the third owner's interest as damages.
4. force the third owner to sell if they invoke the rule of specific performance. -
ANSWER-2. file an action for partition against the third owner.
A couple owns an older home in a neighborhood that is becoming a commercial
area. Because of the change in the use of the land, the couple can expect the value
of their parcel to increase at some future time. This is an example of the principle of:
1. substitution.
2. contribution.
3. conformity.
4. anticipation. - ANSWER-4. anticipation.
A gross lease can be best defined as one where the tenant pays, as a part of the
rent,
1. all property changes excluding utilities.
2. no operating expenses of the leased space.
3. outside maintenance and property taxes only.
4. all property expenses except the interest on the owner's mortgage. - ANSWER-2.
no operating expenses of the leased space.
The Civil Rights Act of 1866 prohibits any type of discrimination based on:
1. gender.
2. race.
3. race and gender.
4. religion. - ANSWER-2. race.
Ordinances that specify construction standards are:
1. building codes.
2. building permits.
3. construction alterations.
4. certificates of occupancy. - ANSWER-1. building codes.
A written agreement in which a purchaser agrees to buy and a seller agrees to sell is
called:
1. an agency.
2. an assessment.
3. a contract.
4. a fiduciary obligation. - ANSWER-3. a contract.
Legal descriptions using the government survey system are NOT generally used in:
1. the original 13 states.
2. subdivisions.
3. quitclaim deeds.
Exam Questions with Correct Answers
A home buyer is obtaining a fully amortized loan in the amount of $140,000. The
savings and loan will give him the loan for 15 years at 5% or for 30 years at 6%. To
the nearest dollar, what is the difference between the monthly payments for these
two loans? (BE SURE TO USE THE AMORTIZATION TABLE.)
1. $74
2. $87
3. $267
4. $342 - ANSWER-3. $267
Failure of a real estate agent to comply with Fair Housing practices is punishable by:
1. license revocation only.
2. criminal prosecution only.
3. license revocation and criminal prosecution.
4. probation. - ANSWER-3. license revocation and criminal prosecution.
The Department of Housing and Urban Development estimates that most private
homes built before 1978 contain potentially dangerous levels of lead. Because of
this, some Federal agencies, such as FHA,
1. will no longer lend or guarantee loans on these older properties.
2. require evidence of testing for and disclosure of any type of lead contamination
before they will lend or guarantee loans on such properties.
3. require funds to be escrowed for lead abatement as a condition of lending or
guaranteeing loans on such properties.
4. require the buyer to acknowledge disclosure of the presence of any known lead
paint. - ANSWER-4. require the buyer to acknowledge disclosure of the presence of
any known lead paint.
State laws differ on whether a buyer is entitled to know about:
1. a suicide that occurred in the house last year.
2. possible lead paint in the property.
3. the flooding of the basement every spring.
4. the fact that the sellers are getting a divorce. - ANSWER-1. a suicide that occurred
in the house last year.
Three people buy a house as tenants in common. Subsequently, two of the owners
want to sell, but the third discourages each potential purchaser. The two owners who
wish to sell the house can:
1. sell without the third owner's consent.
, 2. file an action for partition against the third owner.
3. file for a lien against the third owner's interest as damages.
4. force the third owner to sell if they invoke the rule of specific performance. -
ANSWER-2. file an action for partition against the third owner.
A couple owns an older home in a neighborhood that is becoming a commercial
area. Because of the change in the use of the land, the couple can expect the value
of their parcel to increase at some future time. This is an example of the principle of:
1. substitution.
2. contribution.
3. conformity.
4. anticipation. - ANSWER-4. anticipation.
A gross lease can be best defined as one where the tenant pays, as a part of the
rent,
1. all property changes excluding utilities.
2. no operating expenses of the leased space.
3. outside maintenance and property taxes only.
4. all property expenses except the interest on the owner's mortgage. - ANSWER-2.
no operating expenses of the leased space.
The Civil Rights Act of 1866 prohibits any type of discrimination based on:
1. gender.
2. race.
3. race and gender.
4. religion. - ANSWER-2. race.
Ordinances that specify construction standards are:
1. building codes.
2. building permits.
3. construction alterations.
4. certificates of occupancy. - ANSWER-1. building codes.
A written agreement in which a purchaser agrees to buy and a seller agrees to sell is
called:
1. an agency.
2. an assessment.
3. a contract.
4. a fiduciary obligation. - ANSWER-3. a contract.
Legal descriptions using the government survey system are NOT generally used in:
1. the original 13 states.
2. subdivisions.
3. quitclaim deeds.
