CONNECTICUT REAL ESTATE SAMPLE
GENERAL EXAM 2 QUESTIONS WITH
VERIFIED ANSWERS
The landlord of an apartment building neglected to repair the building's plumbing
system . As a result , the apartments did not receive water . If a tenant's unit
becomes uninhabitable , what is the MOST likely result ?
A. Suit for possession
B. Claim of constructive eviction
C. Tenancy at sufferance
D. Suit for negligence - ANSWER-B. Claim of constructive eviction
Under the terms of the owner's conveyance , the A property owner conveys a life
estate to a cousin . cousin's death . Which property will pass to the cousin's children
on the interest in the property BEST describes that of the children during the cousin's
lifetime ?
A. Remainder
B. Reversion
C. Life estate pur autre vie
D. Redemption - ANSWER-A. Remainder
At closing , prorations for unpaid real estate taxes are shown as
A. a credit to the seller and a debit to the buyer
B. a debit to the seller and a credit to the buyer
C. a credit to both the seller and the buyer
D. a debit to both the seller and the buyer - ANSWER-B. a debit to the seller and a
credit to the buyer
What type of lease establishes a rental payment and requires the lessor to pay for
the taxes , insurance , and maintenance on the property ?
A. Percentage
B. Net
C. Expense only
D. Gross - ANSWER-D. Gross
A conventional mortgage loan closed on July 1 for $ 165,000 at 3.75 % interest
amortized over 25 years at $ 857.06 per month . Using a 360 - day year and interest
paid in arrears , what would the principal amount be after the monthly payment was
made August 1 ?
A. $ 164,936.30
B. $ 164,484.38
C. $ 164,142.94
D. $ 164,658.57 - ANSWER-D. $ 164,658.57
In the preceding question , what would the interest portion of the payment be ? A. $
17.19
B. $ 257.81
, C. $ 515.63
D. $ 618.75 - ANSWER-C. $ 515.63
A seller lists her home with a real estate professional for $ 220,000 but tells the real
estate professional , who is acting as the seller's agent , " I've got to sell quickly
because of a job transfer . If necessary , I can accept a price as low as $ 175,000 . "
The real estate professional tells a prospective buyer to offer $ 180,000 " because
the seller is desperate to sell . " The seller accepts the buyer's offer . In this
situation , which statement is TRUE ? A. The real estate professional violated an
established agency relationship with the seller
B. The real estate professional's action did not violate any agency relationship with
the seller because the real estate professional did not actually reveal the seller's
lowest acceptable price
C. The real estate professional acted properly to obtain a quick offer on the seller's
property , in accordance with the seller's instructions
D. The real estate professio - ANSWER-A. The real estate professional violated an
established agency relationship with the seller
Which of the following BEST describes the capitalization rate under the income
approach to appraising real estate ?
A. Rate at which a property increases in value
B. Rate of return a property earns as an investment
C. Rate of capital required to keep a property operating most efficiently
D. Maximum rate of return allowed by law on an investment - ANSWER-B. Rate of
return a property earns as an investment
At closing , the cost of the lender's title insurance policy required for a new loan is
usually shown as which of the following ?
A. Credit to the seller
B. Credit to the buyer
C. Debit to the seller
D. Debit to the buyer - ANSWER-D. Debit to the buyer
An FHA - insured loan in the amount of $ 157,500 at 4½ % for 30 years closed on
July 17. The first monthly payment is due on September 1. Using a 360 - day year
and assuming that interest is being paid for the day of closing , what was the amount
of the interest payment the buyer had to make at the settlement ?
A. $ 19.69
B. $ 275.63
C. $ 295.35
D. $ 315.04 - ANSWER-B. $ 275.63
If a home that cost $ 342,500 three years ago is now valued at 127 % of its original
cost , what is its current market value ?
A. $ 364,750
B. $ 395,000
C. $ 424,500
D. $ 434,975 - ANSWER-D. $ 434,975
GENERAL EXAM 2 QUESTIONS WITH
VERIFIED ANSWERS
The landlord of an apartment building neglected to repair the building's plumbing
system . As a result , the apartments did not receive water . If a tenant's unit
becomes uninhabitable , what is the MOST likely result ?
A. Suit for possession
B. Claim of constructive eviction
C. Tenancy at sufferance
D. Suit for negligence - ANSWER-B. Claim of constructive eviction
Under the terms of the owner's conveyance , the A property owner conveys a life
estate to a cousin . cousin's death . Which property will pass to the cousin's children
on the interest in the property BEST describes that of the children during the cousin's
lifetime ?
A. Remainder
B. Reversion
C. Life estate pur autre vie
D. Redemption - ANSWER-A. Remainder
At closing , prorations for unpaid real estate taxes are shown as
A. a credit to the seller and a debit to the buyer
B. a debit to the seller and a credit to the buyer
C. a credit to both the seller and the buyer
D. a debit to both the seller and the buyer - ANSWER-B. a debit to the seller and a
credit to the buyer
What type of lease establishes a rental payment and requires the lessor to pay for
the taxes , insurance , and maintenance on the property ?
A. Percentage
B. Net
C. Expense only
D. Gross - ANSWER-D. Gross
A conventional mortgage loan closed on July 1 for $ 165,000 at 3.75 % interest
amortized over 25 years at $ 857.06 per month . Using a 360 - day year and interest
paid in arrears , what would the principal amount be after the monthly payment was
made August 1 ?
A. $ 164,936.30
B. $ 164,484.38
C. $ 164,142.94
D. $ 164,658.57 - ANSWER-D. $ 164,658.57
In the preceding question , what would the interest portion of the payment be ? A. $
17.19
B. $ 257.81
, C. $ 515.63
D. $ 618.75 - ANSWER-C. $ 515.63
A seller lists her home with a real estate professional for $ 220,000 but tells the real
estate professional , who is acting as the seller's agent , " I've got to sell quickly
because of a job transfer . If necessary , I can accept a price as low as $ 175,000 . "
The real estate professional tells a prospective buyer to offer $ 180,000 " because
the seller is desperate to sell . " The seller accepts the buyer's offer . In this
situation , which statement is TRUE ? A. The real estate professional violated an
established agency relationship with the seller
B. The real estate professional's action did not violate any agency relationship with
the seller because the real estate professional did not actually reveal the seller's
lowest acceptable price
C. The real estate professional acted properly to obtain a quick offer on the seller's
property , in accordance with the seller's instructions
D. The real estate professio - ANSWER-A. The real estate professional violated an
established agency relationship with the seller
Which of the following BEST describes the capitalization rate under the income
approach to appraising real estate ?
A. Rate at which a property increases in value
B. Rate of return a property earns as an investment
C. Rate of capital required to keep a property operating most efficiently
D. Maximum rate of return allowed by law on an investment - ANSWER-B. Rate of
return a property earns as an investment
At closing , the cost of the lender's title insurance policy required for a new loan is
usually shown as which of the following ?
A. Credit to the seller
B. Credit to the buyer
C. Debit to the seller
D. Debit to the buyer - ANSWER-D. Debit to the buyer
An FHA - insured loan in the amount of $ 157,500 at 4½ % for 30 years closed on
July 17. The first monthly payment is due on September 1. Using a 360 - day year
and assuming that interest is being paid for the day of closing , what was the amount
of the interest payment the buyer had to make at the settlement ?
A. $ 19.69
B. $ 275.63
C. $ 295.35
D. $ 315.04 - ANSWER-B. $ 275.63
If a home that cost $ 342,500 three years ago is now valued at 127 % of its original
cost , what is its current market value ?
A. $ 364,750
B. $ 395,000
C. $ 424,500
D. $ 434,975 - ANSWER-D. $ 434,975
