Connecticut Real Estate Unit 10 Real
Estate License Law Exam Questions
with Complete Solutions
Convicted Felons are allowed to get a real estate license but the commission
reviews: - ANSWER-(1) The nature of the crime and its relationship to the job for
which the person applied
(2) Information pertaining to the degree of rehabilitation of the convicted person
(3) The amount of time that has elapsed since the applicant's conviction or release
Any business entity-corporation, LLC, LLP, Parnertship, or association that engages
in real estate.. - ANSWER-must obtain a real estate broker license
What percentage must be under broker for your company - ANSWER-51%
Reciprocal Agreement in CT: - ANSWER-A person who holds a real estate
brokers/salesperson license issued by a state that has reciprocity does not need to
meet the state licensing requirement
Reciprocal States to CT: - ANSWER-Alabama, Colorado, FLorida, Georgia, Illinois,
Indiana, Masschusetts, Nebraska, New York, Ohio, Oklahoma, Rhode Island
All nonresident applicants must file an irrevocable consent to suit with the
Commission - ANSWER-This consent enables lawsuits and legal actions to be
brought against the non resident licensee in CT
Connecticuit does not require: - ANSWER-A real estate licensee maintain a definite
place of business or display either a license or a sign indicating that the license is a
real estate broker or salesperson
In lieu of taking continuing education licensee also has options to: - ANSWER-(1)
Take and pass a continuing education exam administered by the state or testing
vendor
(2) Proving to the commission that he or she has rxperience or education tht
amounts to the equivalent of continuing education
Retirement Status: - ANSWER-If retired you cannot engage in business for real
estate, Retirement status fee is $20
Licensee has a duty to disclose - ANSWER-Material Facts about a property or
transaction and cannot misrepresent or conceal a material fact. This duty applies
even when the licensee does not represent a party
Material Fact - ANSWER-An important fact about real estate or the transaction
involving the real estate which, if known, may persuade a buyer or seller of the real
, estate to make a different decision as to whether to purchase or sell the real estate
and at what price
Nonmaterial Fact - ANSWER-Whether a prior occupant had a disease, emergency
illness, health condition, death, or felony on the property are not considered material.
Does not need to be disclosed unless purchaser or tenant puts in writing that this is
important to them
Property Condition Report - ANSWER-Sellers are required to provide prospective
buyers with this
Sellers and agents are potential liable for failure to disclose off-site hazardous waster
conditions - ANSWER-Hunting and shooting properties must be disclosed
Agency Disclosure - ANSWER-A written explanation, to be signed by a prospective
buyer or seller of real estate, explaining to the client the role that the broker plays in
the transaction.
Real Estate Advertising - ANSWER-All forms of identification, representation,
promotion, and solicitation disseminated in any manner and by any means of
communication to the public for any purpose related to licensed real estate activity
Licensee if required to diligently - ANSWER-Obtain and present accurate information
in advertisements
NO BLIND ADS ALLOWED
Full disclosure of Brokers name is required
To advertise Property Listed With Another Broker, - ANSWER-the licensee must get
permission of the other broker. Listing information cant be changed in anyways
without permission of the other broker. Must be updated every 72 hours
Internet Advertising Must Include: - ANSWER-(1) The licensee's name and office
address
(2) The name of the real estate broker the licensee is affiliated with
(3) All states where the licensee is licensed
(4) The last date when the property info was updated
Electronic Communication must contain: - ANSWER-Licensee's name and office
address
The name of the real estate broker the licensee is affiliated with
All states where the licensee is licensed
A written agreement between broker and client is required before any attempt can be
made by the broker or broker's salesperson to negotiate a sale, exchange, purchase,
or lease - ANSWER-This agreement must include:
(1) Identify the property correctly
(2) Contain all terms and conditions including:
Compensation to be paid
Beginning and Expiration Date
Estate License Law Exam Questions
with Complete Solutions
Convicted Felons are allowed to get a real estate license but the commission
reviews: - ANSWER-(1) The nature of the crime and its relationship to the job for
which the person applied
(2) Information pertaining to the degree of rehabilitation of the convicted person
(3) The amount of time that has elapsed since the applicant's conviction or release
Any business entity-corporation, LLC, LLP, Parnertship, or association that engages
in real estate.. - ANSWER-must obtain a real estate broker license
What percentage must be under broker for your company - ANSWER-51%
Reciprocal Agreement in CT: - ANSWER-A person who holds a real estate
brokers/salesperson license issued by a state that has reciprocity does not need to
meet the state licensing requirement
Reciprocal States to CT: - ANSWER-Alabama, Colorado, FLorida, Georgia, Illinois,
Indiana, Masschusetts, Nebraska, New York, Ohio, Oklahoma, Rhode Island
All nonresident applicants must file an irrevocable consent to suit with the
Commission - ANSWER-This consent enables lawsuits and legal actions to be
brought against the non resident licensee in CT
Connecticuit does not require: - ANSWER-A real estate licensee maintain a definite
place of business or display either a license or a sign indicating that the license is a
real estate broker or salesperson
In lieu of taking continuing education licensee also has options to: - ANSWER-(1)
Take and pass a continuing education exam administered by the state or testing
vendor
(2) Proving to the commission that he or she has rxperience or education tht
amounts to the equivalent of continuing education
Retirement Status: - ANSWER-If retired you cannot engage in business for real
estate, Retirement status fee is $20
Licensee has a duty to disclose - ANSWER-Material Facts about a property or
transaction and cannot misrepresent or conceal a material fact. This duty applies
even when the licensee does not represent a party
Material Fact - ANSWER-An important fact about real estate or the transaction
involving the real estate which, if known, may persuade a buyer or seller of the real
, estate to make a different decision as to whether to purchase or sell the real estate
and at what price
Nonmaterial Fact - ANSWER-Whether a prior occupant had a disease, emergency
illness, health condition, death, or felony on the property are not considered material.
Does not need to be disclosed unless purchaser or tenant puts in writing that this is
important to them
Property Condition Report - ANSWER-Sellers are required to provide prospective
buyers with this
Sellers and agents are potential liable for failure to disclose off-site hazardous waster
conditions - ANSWER-Hunting and shooting properties must be disclosed
Agency Disclosure - ANSWER-A written explanation, to be signed by a prospective
buyer or seller of real estate, explaining to the client the role that the broker plays in
the transaction.
Real Estate Advertising - ANSWER-All forms of identification, representation,
promotion, and solicitation disseminated in any manner and by any means of
communication to the public for any purpose related to licensed real estate activity
Licensee if required to diligently - ANSWER-Obtain and present accurate information
in advertisements
NO BLIND ADS ALLOWED
Full disclosure of Brokers name is required
To advertise Property Listed With Another Broker, - ANSWER-the licensee must get
permission of the other broker. Listing information cant be changed in anyways
without permission of the other broker. Must be updated every 72 hours
Internet Advertising Must Include: - ANSWER-(1) The licensee's name and office
address
(2) The name of the real estate broker the licensee is affiliated with
(3) All states where the licensee is licensed
(4) The last date when the property info was updated
Electronic Communication must contain: - ANSWER-Licensee's name and office
address
The name of the real estate broker the licensee is affiliated with
All states where the licensee is licensed
A written agreement between broker and client is required before any attempt can be
made by the broker or broker's salesperson to negotiate a sale, exchange, purchase,
or lease - ANSWER-This agreement must include:
(1) Identify the property correctly
(2) Contain all terms and conditions including:
Compensation to be paid
Beginning and Expiration Date
