Connecticut Real Estate Exam Study Questions and Detailed Answers

Connecticut Real Estate Commissions primary duties: 1) issue licenses 2) arbitrates disputes between brokers and salespersons 3) investigates and prosecutes complaints against licensees 4) formulate and enforce rules and regulations regarding licensing and conduct of licensing How is the CT Real Estate Commision made up? eight members - five in the real estate business (3 brokers and 2 salespersons) and three members of the public (at least 1 member from each congressional district and not more than the bare majority from the same political party) To be a member of the CT Real Estate Commission you must.. 1) electors in the state 2) appointed by the governor 3) take an oath to perform faithfully to prescribed duties 4) may be removed from the office for a cause by the governor after being given an opportunity to be heard The CT Real Estate Commission chairman must.. be bonded in accordance with the requirements of the state insurance purchasing board. Are CT Real Estate Commission members paid for their services? NO, but they are reimbursed for necessary expenses incurred in the performance of their duties Engaging in the real estate business consists of acting for another for a fee in all of the following activities EXCEPT A: investing in real estate B: reselling a mobile home C: selling real-estate D: collecting rent for the use of real estate A: investing in real estate you are employed by an apartment complex as a residential on-site property custodian. Part of your duties involves negotiating leases for the apartments. In this position you A) must have a salesperson license B) must have a brokers license C) are exempt from the licensing requirements if you reside at the apartment complex D) are violating the license law C) are exempt from the licensing requirements if you reside at the apartment complex