BILL'S CT REAL ESTATE VOCAB
EXAM REVIEW QUESTIONS AND
ANSWERS
CT Single agency - ANSWER-Connecticut law allows a broker to be the agent of a
seller, buyer landlord or tenant
CT Dual agency consent agreement - ANSWER-Connecticut has provided that a
client can give informed consent to dual agency by signing this statutorily prescribed
document prior to executing a purchase, sale, or lease contract.
CT Mandatory written Disclosure of agency to unrepresented persons - ANSWER-
CT real estate licensing law requires this to unrepresented prospective purchasers,
sellers, landlords or tenants
Broker compensation in Connecticut - ANSWER-an amount of commission of which
the rate is not fixed by law. It is set by each broker individually and may be
negotiable between a seller and a broker
Ct Broker's lien - ANSWER-A lien on the real estate placed by broker to secure
payment of compensation pursuant to section 10 - 325 a of the Connecticut General
Statutes. The lien does not attach until it is recorded.
Mortgage brokerage service fee - ANSWER-A fee negotiated for negotiating and/or
arranging for a mortgage loan for a buyer and not for the referral of the buyer to a
mortgage lender
CT Required record retention - ANSWER-A 7 year. Of time in which a real estate
broker is required to keep offers and counter offers drafted by the broker's office,
contracts, leases, agency agreements and disclosures, and escrow and trust
account checks and bank statements
Types of listing agreement - ANSWER-Exclusive rights to sell
exclusive agency
Open listings
Buyer agency agreements - ANSWER-Exclusive right to represent buyer
Exclusive agency right to represent buyer
Open right to represent buyer
Negotiating on behalf of a buyer - ANSWER-Showing the buyer property
Discussing an offer with the buyer
, Engaging in negotiation on behalf of the buyer
Giving advice to the buyer about particular real estate
Steps to working with a buyer - ANSWER-1. ask whether the buyer is currently being
represented by another firm
2. Explain the real estate firms office policy on the various agencies and customer
relationships that the licensee could potentially have with the buyer
3. Specifically tell the buyer not to provide confidential information unless and until
the buyer and licensee have entered into an agency relationship
CT Six things that cannot be done with a buyer without a written Buyer Agency
Agreement or disclosure notice of representation of the seller - ANSWER-1. Ask the
buyer to disclose Confidential Information
2. Express an opinion or give advice about particular real estate
3. Physically show the buyer in house listings
4. Physically show the buyer property listed with another firm
5. Discuss an offer with the buyer
6. Engage in any verbal or written negotiations concerning purchase price, terms, or
conditions
Diligent effort - ANSWER-The effort a broker who enters into an exclusive listing with
a seller or less or must make to sell or lease the property
materials facts - ANSWER-A fact that might change a reasonable person's mind
about buying the property or the price offered. Physical facts
Non material facts - ANSWER-Hey fat related to whether a property occupancy
house or had a disease, a mergency illness, or health condition listed by the public
health commissioner, or the fact that there was the death or felony on the property.
Property condition disclosure - ANSWER-A disclosure required by law to be provided
by sellers to prospective buyers with regard to the condition of the residential real
estate property
Avulsion - ANSWER-water quickly submerging land or moving land to another
location
Erosion - ANSWER-gradual deterioration of land due to nature such as floods,
hurricanes and storms
Eminent Domain - ANSWER-the government's right to acquire private property for
public use
Intestate - ANSWER-the state of dying without a will
Testate - ANSWER-the state of dying with a will
Dower Rights - ANSWER-legal rights of a wife to husband's estate upon death
EXAM REVIEW QUESTIONS AND
ANSWERS
CT Single agency - ANSWER-Connecticut law allows a broker to be the agent of a
seller, buyer landlord or tenant
CT Dual agency consent agreement - ANSWER-Connecticut has provided that a
client can give informed consent to dual agency by signing this statutorily prescribed
document prior to executing a purchase, sale, or lease contract.
CT Mandatory written Disclosure of agency to unrepresented persons - ANSWER-
CT real estate licensing law requires this to unrepresented prospective purchasers,
sellers, landlords or tenants
Broker compensation in Connecticut - ANSWER-an amount of commission of which
the rate is not fixed by law. It is set by each broker individually and may be
negotiable between a seller and a broker
Ct Broker's lien - ANSWER-A lien on the real estate placed by broker to secure
payment of compensation pursuant to section 10 - 325 a of the Connecticut General
Statutes. The lien does not attach until it is recorded.
Mortgage brokerage service fee - ANSWER-A fee negotiated for negotiating and/or
arranging for a mortgage loan for a buyer and not for the referral of the buyer to a
mortgage lender
CT Required record retention - ANSWER-A 7 year. Of time in which a real estate
broker is required to keep offers and counter offers drafted by the broker's office,
contracts, leases, agency agreements and disclosures, and escrow and trust
account checks and bank statements
Types of listing agreement - ANSWER-Exclusive rights to sell
exclusive agency
Open listings
Buyer agency agreements - ANSWER-Exclusive right to represent buyer
Exclusive agency right to represent buyer
Open right to represent buyer
Negotiating on behalf of a buyer - ANSWER-Showing the buyer property
Discussing an offer with the buyer
, Engaging in negotiation on behalf of the buyer
Giving advice to the buyer about particular real estate
Steps to working with a buyer - ANSWER-1. ask whether the buyer is currently being
represented by another firm
2. Explain the real estate firms office policy on the various agencies and customer
relationships that the licensee could potentially have with the buyer
3. Specifically tell the buyer not to provide confidential information unless and until
the buyer and licensee have entered into an agency relationship
CT Six things that cannot be done with a buyer without a written Buyer Agency
Agreement or disclosure notice of representation of the seller - ANSWER-1. Ask the
buyer to disclose Confidential Information
2. Express an opinion or give advice about particular real estate
3. Physically show the buyer in house listings
4. Physically show the buyer property listed with another firm
5. Discuss an offer with the buyer
6. Engage in any verbal or written negotiations concerning purchase price, terms, or
conditions
Diligent effort - ANSWER-The effort a broker who enters into an exclusive listing with
a seller or less or must make to sell or lease the property
materials facts - ANSWER-A fact that might change a reasonable person's mind
about buying the property or the price offered. Physical facts
Non material facts - ANSWER-Hey fat related to whether a property occupancy
house or had a disease, a mergency illness, or health condition listed by the public
health commissioner, or the fact that there was the death or felony on the property.
Property condition disclosure - ANSWER-A disclosure required by law to be provided
by sellers to prospective buyers with regard to the condition of the residential real
estate property
Avulsion - ANSWER-water quickly submerging land or moving land to another
location
Erosion - ANSWER-gradual deterioration of land due to nature such as floods,
hurricanes and storms
Eminent Domain - ANSWER-the government's right to acquire private property for
public use
Intestate - ANSWER-the state of dying without a will
Testate - ANSWER-the state of dying with a will
Dower Rights - ANSWER-legal rights of a wife to husband's estate upon death
