CONNECTICUT REAL ESTATE
PRACTICE & LAW – KGO EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS
Which of the following is NOT one of the basic types of listing agreements:
a. exclusive right to sell
b. exclusive net listing
c. exclusive agency
d. open listing - ANSWER-b
Listing agreement:
Exclusive agreement with one broker; seller pays broker regardless of who sells the
property
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-a
Listing agreement:
Exclusive agreement with one broker; seller retains right to sell without owning
compensation to broker
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-c
Listing agreement:
Non-exclusive agreement multiple broker; only the selling broker is compensated.
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-b
Which one of the following is NOT a basic type of buyer agency agreement.
a. Net buying agreement
b. Exclusive right to represent buyer
c. Exclusive agency right to represent buyer
d. Open right to represent buyer - ANSWER-a
Buyer agency agreement:
,Exclusive agreement with one broker; broker is entitled to compensation regardless
of who located property
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-b
Buyer agency agreement:
Non-exclusive agreement with multiple brokers; only broker that locates the property
is compensated
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-a
Buyer agency agreement:
Exclusive agreement with one broker; broker is only entitled to compensation if
broker locates property
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-c
The buyer agency agreement must be entered into before a broker or salesperson
attempts to ________________ on behalf of a prospective buyer to tenant. -
ANSWER-negotiate
If a purchaser or tenant advised the owner or licensee in writing that non-material
facts are important to their decision, then the owner, through the owner's agent, does
have a duty to disclose all of the following EXCEPT
a. suicide
b. murder
c. disease
d. felony - ANSWER-c
______________________ is defines as, all forms of identification, representation,
promotion and solicitation disseminated in any manner and by means of
communication to the public for any purposes related to real estate activity. -
ANSWER-advertising
Buyer-brokerage contracts in Connecticut
a. must be in writing to be enforceable
b. must be on specific forms
c. are not regulated under the license laws
d. are illegal - ANSWER-a
,A broker enters into a listing agreement with a seller. The property does not sell, and
the listing expires. How long does the broker need to keep a copy of the listing
agreement and related documents?
a. forever
b. seven years
c. one year
d. no need to keep documents - ANSWER-b
In Connecticut, real estate commission and compensation are
a. set by law
b. set by the Real Estate Commission
c. determined by local groups of brokers
d. negotiable between the seller or the buyer and the broker - ANSWER-d
In Connecticut, an exclusive right-to-buy contact
a. is illegal
b. is equivalent to a listing agreement
c. requires the signature of the principal only
d. must be indicated as such in the buyer agency agreement - ANSWER-d
A broker who enters into an exclusive agency listing contact
a. is guaranteed a commission
b. must split his or her commission
c. must make a diligent attempt to sell or lease the property
d. has violated the law - ANSWER-c
Betty Buyer contacts Hartfield Realty and is interested in potentially purchasing a
home in the Hartfield area. Without entering into a buyer agency relationship with
Betty, the salesperson from Hartfield Realty can do all of the following for her
EXCEPT
a. prequalify Betty for a mortgage
b. give Betty information on mortgage interest rates and terms
c. give Betty information on properties for sale in Hartford
d. explain to Betty about buyer agency, seller agency, and dual agency - ANSWER-a
Betty is interested in seeing a house listed with Hartfield Realty but does not wish to
enter into a buyer agency agreement with Hartfield Realty. A salesperson from
Hartfield Realty can show Betty an in-house listing if
a. a salesperson obtains the seller's permission
b. Betty verbally agrees to buyer agency
c. the salesperson provides Betty with an Agency Disclosure Notice, stating that
Hartfield Realty represent the seller.
d. the salesperson provides Betty with a Dual Agency Consent Form - ANSWER-c
, In Connecticut a net listing is
a. based on a set rate of commission
b. similar to an open listing
c. common
d. is illegal - ANSWER-d
A broker who wishes to place a For Sale sign on a listed property must first
a. obtain the consent of the owner of the property
b. sell the property
c. list the property
d. get Connecticut law changed to permit For Sale signs on properties - ANSWER-a
A broker entered into a listing agreement with the seller. Through the MLS, a broker
from a different office had been working with the buyer, who is interested in making
an offer on the seller's property. Typically, in this kind of transaction, the broker
working with the buyer would enter into a written representation contract with
a. the seller as a subagent
b. the buyer as an agent
c. the buyer as a subagent
d. neither the buyer nor the seller - ANSWER-b
If a broker wishes to represent a buyer in a transaction, Connecticut licensing law
requires that the broker into a(n)
a. oral agency agreement
b. co-brokerage agreement
c. dual agency agreement
d. written agency agreement - ANSWER-d
When a broker represents the seller of real estate, an agency disclosure must be
given to
a. any potential unrepresented purchaser, at the beginning of the first personal
meeting with the purchaser
b. all potential purchasers, a the beginning of the first personal meeting with the
purchaser
c. the purchaser, before the purchase and sale contract is signed
d. the seller, at the time the listing agreement is signed - ANSWER-a
A realty company has entered into agency agreements with both the seller and the
buyer. The buyer is interested in making an offer on the seller's property. Can this
occur?
a. No, because the realty would then be a dual agent
PRACTICE & LAW – KGO EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS
Which of the following is NOT one of the basic types of listing agreements:
a. exclusive right to sell
b. exclusive net listing
c. exclusive agency
d. open listing - ANSWER-b
Listing agreement:
Exclusive agreement with one broker; seller pays broker regardless of who sells the
property
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-a
Listing agreement:
Exclusive agreement with one broker; seller retains right to sell without owning
compensation to broker
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-c
Listing agreement:
Non-exclusive agreement multiple broker; only the selling broker is compensated.
a. exclusive right to sell
b. open listing
c. exclusive agency - ANSWER-b
Which one of the following is NOT a basic type of buyer agency agreement.
a. Net buying agreement
b. Exclusive right to represent buyer
c. Exclusive agency right to represent buyer
d. Open right to represent buyer - ANSWER-a
Buyer agency agreement:
,Exclusive agreement with one broker; broker is entitled to compensation regardless
of who located property
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-b
Buyer agency agreement:
Non-exclusive agreement with multiple brokers; only broker that locates the property
is compensated
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-a
Buyer agency agreement:
Exclusive agreement with one broker; broker is only entitled to compensation if
broker locates property
a. open right to represent buyer
b. exclusive right to represent buyer
c. exclusive agency right to represent buyer - ANSWER-c
The buyer agency agreement must be entered into before a broker or salesperson
attempts to ________________ on behalf of a prospective buyer to tenant. -
ANSWER-negotiate
If a purchaser or tenant advised the owner or licensee in writing that non-material
facts are important to their decision, then the owner, through the owner's agent, does
have a duty to disclose all of the following EXCEPT
a. suicide
b. murder
c. disease
d. felony - ANSWER-c
______________________ is defines as, all forms of identification, representation,
promotion and solicitation disseminated in any manner and by means of
communication to the public for any purposes related to real estate activity. -
ANSWER-advertising
Buyer-brokerage contracts in Connecticut
a. must be in writing to be enforceable
b. must be on specific forms
c. are not regulated under the license laws
d. are illegal - ANSWER-a
,A broker enters into a listing agreement with a seller. The property does not sell, and
the listing expires. How long does the broker need to keep a copy of the listing
agreement and related documents?
a. forever
b. seven years
c. one year
d. no need to keep documents - ANSWER-b
In Connecticut, real estate commission and compensation are
a. set by law
b. set by the Real Estate Commission
c. determined by local groups of brokers
d. negotiable between the seller or the buyer and the broker - ANSWER-d
In Connecticut, an exclusive right-to-buy contact
a. is illegal
b. is equivalent to a listing agreement
c. requires the signature of the principal only
d. must be indicated as such in the buyer agency agreement - ANSWER-d
A broker who enters into an exclusive agency listing contact
a. is guaranteed a commission
b. must split his or her commission
c. must make a diligent attempt to sell or lease the property
d. has violated the law - ANSWER-c
Betty Buyer contacts Hartfield Realty and is interested in potentially purchasing a
home in the Hartfield area. Without entering into a buyer agency relationship with
Betty, the salesperson from Hartfield Realty can do all of the following for her
EXCEPT
a. prequalify Betty for a mortgage
b. give Betty information on mortgage interest rates and terms
c. give Betty information on properties for sale in Hartford
d. explain to Betty about buyer agency, seller agency, and dual agency - ANSWER-a
Betty is interested in seeing a house listed with Hartfield Realty but does not wish to
enter into a buyer agency agreement with Hartfield Realty. A salesperson from
Hartfield Realty can show Betty an in-house listing if
a. a salesperson obtains the seller's permission
b. Betty verbally agrees to buyer agency
c. the salesperson provides Betty with an Agency Disclosure Notice, stating that
Hartfield Realty represent the seller.
d. the salesperson provides Betty with a Dual Agency Consent Form - ANSWER-c
, In Connecticut a net listing is
a. based on a set rate of commission
b. similar to an open listing
c. common
d. is illegal - ANSWER-d
A broker who wishes to place a For Sale sign on a listed property must first
a. obtain the consent of the owner of the property
b. sell the property
c. list the property
d. get Connecticut law changed to permit For Sale signs on properties - ANSWER-a
A broker entered into a listing agreement with the seller. Through the MLS, a broker
from a different office had been working with the buyer, who is interested in making
an offer on the seller's property. Typically, in this kind of transaction, the broker
working with the buyer would enter into a written representation contract with
a. the seller as a subagent
b. the buyer as an agent
c. the buyer as a subagent
d. neither the buyer nor the seller - ANSWER-b
If a broker wishes to represent a buyer in a transaction, Connecticut licensing law
requires that the broker into a(n)
a. oral agency agreement
b. co-brokerage agreement
c. dual agency agreement
d. written agency agreement - ANSWER-d
When a broker represents the seller of real estate, an agency disclosure must be
given to
a. any potential unrepresented purchaser, at the beginning of the first personal
meeting with the purchaser
b. all potential purchasers, a the beginning of the first personal meeting with the
purchaser
c. the purchaser, before the purchase and sale contract is signed
d. the seller, at the time the listing agreement is signed - ANSWER-a
A realty company has entered into agency agreements with both the seller and the
buyer. The buyer is interested in making an offer on the seller's property. Can this
occur?
a. No, because the realty would then be a dual agent
