REAL ESTATE OFFICIAL PRACTICE
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Afterdeducting$5,000 in closing costs 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
salesperson's license, if the salesperson: - ANSWER-deposits a buyer's down
payment in her 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
The 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-The taking must be
for a public purpose.
In Connecticut which of the following is true regarding a real estate broker's license: -
ANSWER-expires annually on March 31
If a broker as agent under an exclusive right to sel listing receives two offers for the
same house at the same time, one from his salesperson, and one from the
salesperson 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
The current taxes are $1743.25 and have not been paid. If the sale is to be closed
on August 12, what is the tax proration that will be charged to the seller based on a
360-day year? (for this question assume taxes are paid on January 1st only): -
ANSWER-$1,075
In Connecticut the statute of frauds requires that all contracts that are in excess of _
be in writing - ANSWER-$500.00
, Listing based upon a net price: - ANSWER-are illegal in Connecticut
There is a tract of land that is 1.25 acres. The lot is 150 feet deep. How much will the
lot sell for at $2,650 per front foot? - ANSWER-$961,950
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 predominantly 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 mortgagee to declare the entire unpaid
sum due upon a default by the mortgagor is called a(n): - ANSWER-acceleration
clause
The loan to value ratio is 80 percent on a loan for a building which is sold for
$100,000. If the lending institution charges a one-percent loan origination fee, what
is the total cash outlay for this purchase? - ANSWER-$20,800
Fred Thompson rents an 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 anew 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
A home sold on the following terms: down payment 20 percent of the purchase price;
first mortgage 75 percent of the purchase price; and second mortgage 5percent of
the purchase price. The first mortgage was in the amount of $138,900. What is the
purchase price of the property? - ANSWER-$185,200
Which of the following is the best description of a contract? - ANSWER-an
agreement between competent parties and based upon legal consideration that
creates legally enforceable duties and obligations
Lead poisoning can occur when: - ANSWER--children injest lead paint dust
-lead in pipes leaches into water supply
Under CT law, which of the following is true: - ANSWER--licensee shall not
misrepresent or conceal any material fact
-actual sale price must be accurately represented
-full disclosure of the brokers name, address and telephone number shall be utilized
in advertising
All of the following have been proven to pose a health hazard EXCEPT: - ANSWER-
electromagnetic fields
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Afterdeducting$5,000 in closing costs 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
salesperson's license, if the salesperson: - ANSWER-deposits a buyer's down
payment in her 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
The 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-The taking must be
for a public purpose.
In Connecticut which of the following is true regarding a real estate broker's license: -
ANSWER-expires annually on March 31
If a broker as agent under an exclusive right to sel listing receives two offers for the
same house at the same time, one from his salesperson, and one from the
salesperson 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
The current taxes are $1743.25 and have not been paid. If the sale is to be closed
on August 12, what is the tax proration that will be charged to the seller based on a
360-day year? (for this question assume taxes are paid on January 1st only): -
ANSWER-$1,075
In Connecticut the statute of frauds requires that all contracts that are in excess of _
be in writing - ANSWER-$500.00
, Listing based upon a net price: - ANSWER-are illegal in Connecticut
There is a tract of land that is 1.25 acres. The lot is 150 feet deep. How much will the
lot sell for at $2,650 per front foot? - ANSWER-$961,950
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 predominantly 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 mortgagee to declare the entire unpaid
sum due upon a default by the mortgagor is called a(n): - ANSWER-acceleration
clause
The loan to value ratio is 80 percent on a loan for a building which is sold for
$100,000. If the lending institution charges a one-percent loan origination fee, what
is the total cash outlay for this purchase? - ANSWER-$20,800
Fred Thompson rents an 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 anew 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
A home sold on the following terms: down payment 20 percent of the purchase price;
first mortgage 75 percent of the purchase price; and second mortgage 5percent of
the purchase price. The first mortgage was in the amount of $138,900. What is the
purchase price of the property? - ANSWER-$185,200
Which of the following is the best description of a contract? - ANSWER-an
agreement between competent parties and based upon legal consideration that
creates legally enforceable duties and obligations
Lead poisoning can occur when: - ANSWER--children injest lead paint dust
-lead in pipes leaches into water supply
Under CT law, which of the following is true: - ANSWER--licensee shall not
misrepresent or conceal any material fact
-actual sale price must be accurately represented
-full disclosure of the brokers name, address and telephone number shall be utilized
in advertising
All of the following have been proven to pose a health hazard EXCEPT: - ANSWER-
electromagnetic fields
