EXAM FOR CT REVIEW QUESTIONS
AND ANSWERS
under CT fair housing laws, what individual characteristic has protected class status?
- ANSWER-serial orientation
a listing licensee shares this confidential info with a prospective buyer, "the property
owner is having financial problems and must sell, not only quickly but perhaps below
the list price". according to CT real estate license law, under what circumstance
would this be legal? - ANSWER-the owner has granted consent to disclose this info
prior closing on a residential property the listing licensee discovers the plumbing is
acing up and there appears to be termite activity. CT real estate law requires the
licensee to do what action with this info? - ANSWER-disclose it since it represents
known defects that may be a material fact to the buyers decision to proceed
a licensee has a relative who wishes to purchase a rental duplex. in the event the
licensee presents an offer to purchase on behalf of the relative, the licensee must
make what disclosure? - ANSWER-the licensees status and a licensee representing
a relative
a seller is required to give a buyer a residential condition disclosure report in these
transactions? - ANSWER-1. when the seller isn't assisted by a licensed real estate
agent
2. if seller hasn't resided on the property in the last year
3. if buyer has lived on property as a tenant
-not for a sake of commercial property-
all funds received by a broker on behalf of their principal must be deposited in an
escrow ot trust account within? - ANSWER-3 banking days of receiving all signatures
subdivision plans in CT must be drawn up by a? - ANSWER-licensed surveyor
a licensed real estate salesperson is exempt from the appraisal licensing
requirements when the salesperson? - ANSWER-estimates the value of real estate
as part of a market analysis
in CT the percentage of the real estate commission/marketing fees to be paid are? -
ANSWER-negotiatable between seller/buyer and broker
according to CT real estate license law, a correct statement about a licensee
receives an earnest money checking a property listed by another firm. the licensee is
required to take what action with the check? - ANSWER-turn it over to the licensees
broker promptly
AND ANSWERS
under CT fair housing laws, what individual characteristic has protected class status?
- ANSWER-serial orientation
a listing licensee shares this confidential info with a prospective buyer, "the property
owner is having financial problems and must sell, not only quickly but perhaps below
the list price". according to CT real estate license law, under what circumstance
would this be legal? - ANSWER-the owner has granted consent to disclose this info
prior closing on a residential property the listing licensee discovers the plumbing is
acing up and there appears to be termite activity. CT real estate law requires the
licensee to do what action with this info? - ANSWER-disclose it since it represents
known defects that may be a material fact to the buyers decision to proceed
a licensee has a relative who wishes to purchase a rental duplex. in the event the
licensee presents an offer to purchase on behalf of the relative, the licensee must
make what disclosure? - ANSWER-the licensees status and a licensee representing
a relative
a seller is required to give a buyer a residential condition disclosure report in these
transactions? - ANSWER-1. when the seller isn't assisted by a licensed real estate
agent
2. if seller hasn't resided on the property in the last year
3. if buyer has lived on property as a tenant
-not for a sake of commercial property-
all funds received by a broker on behalf of their principal must be deposited in an
escrow ot trust account within? - ANSWER-3 banking days of receiving all signatures
subdivision plans in CT must be drawn up by a? - ANSWER-licensed surveyor
a licensed real estate salesperson is exempt from the appraisal licensing
requirements when the salesperson? - ANSWER-estimates the value of real estate
as part of a market analysis
in CT the percentage of the real estate commission/marketing fees to be paid are? -
ANSWER-negotiatable between seller/buyer and broker
according to CT real estate license law, a correct statement about a licensee
receives an earnest money checking a property listed by another firm. the licensee is
required to take what action with the check? - ANSWER-turn it over to the licensees
broker promptly
