REAL ESTATE PRINCIPLES AND
PRACTICES QUESTIONS AND
ANSWERS
Three of the test of a fixture are: - ANSWER-Adaptability, intent, attachment
A property manager is in trouble because of compensation she received. she
received: - ANSWER-Kickbacks From suppliers
In Connecticut, the basic unit of real property tax rate is called a(n): - ANSWER-Mill
rate
The maximum fine that the real estate commission can charge is: - ANSWER-$2000
Recording a deed: - ANSWER-Gives constructive notice of a guarantee's claim of
ownership of real estate
Richard Carlisle owned 2 acres of land. He sold 1 acre to Andrew Frick and reserved
an easement appurtenant of Ingress over Frick's acre to reach the public road.
Frick's land: - ANSWER-Is called the servient tenement.
A broker Acting as an agent of the seller in the sale of a real property may, without
further authority from a principal: - ANSWER-Solicit the signature of the buyer on a
sales contract, which will be binding on the parties should the seller accept.
In Connecticut the broker's commission is: - ANSWER-Set by mutual agreement
between the principal and the agent
Seller lists A home for $240,000 and the seller's broker tells the prospective buyer to
submit a low offer because the seller is desperate. Buyer offer is $228,000 and seller
accepts. In this instance: - ANSWER-The broker violated the agency relationship
Mechanics lien - ANSWER-A statutory lien on the real property of another, created to
ensure payment for work performed and materials furnished in the repair or
improvement of real property, such as a building.
The Americans with disabilities act requires: - ANSWER-That reasonable
accommodations be provided for people with disabilities
In Connecticut fees for title insurance are usually paid by the: - ANSWER-Buyer
After deducting $5000 in closing cost and a 5% brokerage fee, the seller netted
$170,750. What was the selling price? - ANSWER-$185,000
In Connecticut, the real estate commission has the power to revoke a sales person's
license, if the sales person: - ANSWER-Deposits a buyer's down payment in their
personal bank account
, Under Connecticut law, a landlord Most likely would be guilty of discrimination if the
lease agreement included a clause that renters: - ANSWER-May not have children
living in the apartment
Connecticut real estate guaranty fund was established to: - ANSWER-Compensate a
buyer whose broker embezzled deposit money
For land to be taken by the government under Its right of eminent domain, which of
the following must apply? - ANSWER-A) The taking must be for a public purpose.
In Connecticut when does a Real estate broker's license expire? - ANSWER-It
expires annually on March 31st
If a broker as agent under an exclusive right to sell listing received two offers for the
same house at the same time, one from his sales person, and one from the sales
person of a cooperating broker, the broker should: - ANSWER-Present both offers
A broker's real estate license may be revoked if she: - ANSWER-Engages in
blockbusting
When a lien against a parcel of real estate may result from a lawsuit currently before
the courts, one examining the public records would look for: - ANSWER-Lis pendens
The primary purpose for real estate licensing laws is to: - ANSWER-Protect the
public
In Connecticut the statute of frauds requires that all contracts that are in excess of
how much be in writing? - ANSWER-$500
Listing based upon a net price: - ANSWER-Are illegal in Connecticut
The real estate settlement procedures ACT (RESPA) Applies to the activities of: -
ANSWER-Lender's financing the purchase of a borrower's residence
A black homebuyer inquires about a home in a predominately white residential
neighborhood. What should the broker say to this buyer? - ANSWER-I'll show you
that house and any other house in which you're interested
The clause in a mortgage that permits the mortgage to the clear the entire unpaid
some upon a default by the mortgage is called: - ANSWER-Acceleration clause
Fred Thompson rents in apartment under a two year written lease. He has occupied
the apartment for one full year and now the landlord is selling the apartment building
to a new owner. As far as Thompson's lease is concerned: - ANSWER-The sale has
no effect on Thompson's tenancy.
A homeowner has an exclusive agency listing with a broker but finds a buyer for the
property without the broker. The listing broker is entitled to: - ANSWER-No
commission
PRACTICES QUESTIONS AND
ANSWERS
Three of the test of a fixture are: - ANSWER-Adaptability, intent, attachment
A property manager is in trouble because of compensation she received. she
received: - ANSWER-Kickbacks From suppliers
In Connecticut, the basic unit of real property tax rate is called a(n): - ANSWER-Mill
rate
The maximum fine that the real estate commission can charge is: - ANSWER-$2000
Recording a deed: - ANSWER-Gives constructive notice of a guarantee's claim of
ownership of real estate
Richard Carlisle owned 2 acres of land. He sold 1 acre to Andrew Frick and reserved
an easement appurtenant of Ingress over Frick's acre to reach the public road.
Frick's land: - ANSWER-Is called the servient tenement.
A broker Acting as an agent of the seller in the sale of a real property may, without
further authority from a principal: - ANSWER-Solicit the signature of the buyer on a
sales contract, which will be binding on the parties should the seller accept.
In Connecticut the broker's commission is: - ANSWER-Set by mutual agreement
between the principal and the agent
Seller lists A home for $240,000 and the seller's broker tells the prospective buyer to
submit a low offer because the seller is desperate. Buyer offer is $228,000 and seller
accepts. In this instance: - ANSWER-The broker violated the agency relationship
Mechanics lien - ANSWER-A statutory lien on the real property of another, created to
ensure payment for work performed and materials furnished in the repair or
improvement of real property, such as a building.
The Americans with disabilities act requires: - ANSWER-That reasonable
accommodations be provided for people with disabilities
In Connecticut fees for title insurance are usually paid by the: - ANSWER-Buyer
After deducting $5000 in closing cost and a 5% brokerage fee, the seller netted
$170,750. What was the selling price? - ANSWER-$185,000
In Connecticut, the real estate commission has the power to revoke a sales person's
license, if the sales person: - ANSWER-Deposits a buyer's down payment in their
personal bank account
, Under Connecticut law, a landlord Most likely would be guilty of discrimination if the
lease agreement included a clause that renters: - ANSWER-May not have children
living in the apartment
Connecticut real estate guaranty fund was established to: - ANSWER-Compensate a
buyer whose broker embezzled deposit money
For land to be taken by the government under Its right of eminent domain, which of
the following must apply? - ANSWER-A) The taking must be for a public purpose.
In Connecticut when does a Real estate broker's license expire? - ANSWER-It
expires annually on March 31st
If a broker as agent under an exclusive right to sell listing received two offers for the
same house at the same time, one from his sales person, and one from the sales
person of a cooperating broker, the broker should: - ANSWER-Present both offers
A broker's real estate license may be revoked if she: - ANSWER-Engages in
blockbusting
When a lien against a parcel of real estate may result from a lawsuit currently before
the courts, one examining the public records would look for: - ANSWER-Lis pendens
The primary purpose for real estate licensing laws is to: - ANSWER-Protect the
public
In Connecticut the statute of frauds requires that all contracts that are in excess of
how much be in writing? - ANSWER-$500
Listing based upon a net price: - ANSWER-Are illegal in Connecticut
The real estate settlement procedures ACT (RESPA) Applies to the activities of: -
ANSWER-Lender's financing the purchase of a borrower's residence
A black homebuyer inquires about a home in a predominately white residential
neighborhood. What should the broker say to this buyer? - ANSWER-I'll show you
that house and any other house in which you're interested
The clause in a mortgage that permits the mortgage to the clear the entire unpaid
some upon a default by the mortgage is called: - ANSWER-Acceleration clause
Fred Thompson rents in apartment under a two year written lease. He has occupied
the apartment for one full year and now the landlord is selling the apartment building
to a new owner. As far as Thompson's lease is concerned: - ANSWER-The sale has
no effect on Thompson's tenancy.
A homeowner has an exclusive agency listing with a broker but finds a buyer for the
property without the broker. The listing broker is entitled to: - ANSWER-No
commission
