CT Real Estate UPDATED ACTUAL Exam
Questions and CORRECT Answers
Broker - CORRECT ANSWER - One who acts as an intermediary between two or more
people in negotiating the sale, purchase, or rental of property
Salesperson - CORRECT ANSWER - Employed by or associated with the broker.
Conducts brokerage activities on behalf of the broker.
Residential, commercial, mixed-use, industrial, agricultural, special-purpose - CORRECT
ANSWER - 6 Types of Real Property
Land - CORRECT ANSWER - The earth's surface, extending downward to the center of
the earth and upward infinitely into space, including things permanently attached by nature, such
as trees and water.
Real Estate - CORRECT ANSWER - Land at, above, and below the earth's surface, plus
all things permanently attached to the land (both natural and man-made).
Real Property - CORRECT ANSWER - Real estate plus rights that are automatically
included in the ownership of land and real estate.
Right of: possession, control, enjoyment, exclusion, disposition. - CORRECT ANSWER -
Bundle of legal rights
Appurtenance - CORRECT ANSWER - A right of privilege associated with real property
in some way.
Personal Property (chattel) - CORRECT ANSWER - Movable items
, Fructus industriales - CORRECT ANSWER - Annual plantings or crops of grains
(personal property)
Fructus naturales - CORRECT ANSWER - Perennial crops and trees that do not need
cultivation (real property)
Fixture - CORRECT ANSWER - Personal property that has been affixed to the land or
building.
Method of annexation, adaptation to real estate, agreement of the parties - CORRECT
ANSWER - Legal tests for a fixture
Principal, interest, taxes, insurance - CORRECT ANSWER - Basic costs of owning a
home (PITI)
Coinsurance clause - CORRECT ANSWER - Requires the homeowner to maintain
insurance equal to at least 80% of replacement cost of the dwelling for full replacement on loss
Agency - CORRECT ANSWER - The fiduciary relationship in which the agent is held in a
position of special trust and confidence by the principal.
Nonagent - CORRECT ANSWER - Assists one or both parties with the transaction
without representing either party's interests and often is subject to specific statutory
responsiblities.
Express agency - CORRECT ANSWER - An agency relationship based on a formal
agreement between parties.
Implied agency - CORRECT ANSWER - Based on the actions of the parties that imply
that they have mutually consented to an agency relationship.
Questions and CORRECT Answers
Broker - CORRECT ANSWER - One who acts as an intermediary between two or more
people in negotiating the sale, purchase, or rental of property
Salesperson - CORRECT ANSWER - Employed by or associated with the broker.
Conducts brokerage activities on behalf of the broker.
Residential, commercial, mixed-use, industrial, agricultural, special-purpose - CORRECT
ANSWER - 6 Types of Real Property
Land - CORRECT ANSWER - The earth's surface, extending downward to the center of
the earth and upward infinitely into space, including things permanently attached by nature, such
as trees and water.
Real Estate - CORRECT ANSWER - Land at, above, and below the earth's surface, plus
all things permanently attached to the land (both natural and man-made).
Real Property - CORRECT ANSWER - Real estate plus rights that are automatically
included in the ownership of land and real estate.
Right of: possession, control, enjoyment, exclusion, disposition. - CORRECT ANSWER -
Bundle of legal rights
Appurtenance - CORRECT ANSWER - A right of privilege associated with real property
in some way.
Personal Property (chattel) - CORRECT ANSWER - Movable items
, Fructus industriales - CORRECT ANSWER - Annual plantings or crops of grains
(personal property)
Fructus naturales - CORRECT ANSWER - Perennial crops and trees that do not need
cultivation (real property)
Fixture - CORRECT ANSWER - Personal property that has been affixed to the land or
building.
Method of annexation, adaptation to real estate, agreement of the parties - CORRECT
ANSWER - Legal tests for a fixture
Principal, interest, taxes, insurance - CORRECT ANSWER - Basic costs of owning a
home (PITI)
Coinsurance clause - CORRECT ANSWER - Requires the homeowner to maintain
insurance equal to at least 80% of replacement cost of the dwelling for full replacement on loss
Agency - CORRECT ANSWER - The fiduciary relationship in which the agent is held in a
position of special trust and confidence by the principal.
Nonagent - CORRECT ANSWER - Assists one or both parties with the transaction
without representing either party's interests and often is subject to specific statutory
responsiblities.
Express agency - CORRECT ANSWER - An agency relationship based on a formal
agreement between parties.
Implied agency - CORRECT ANSWER - Based on the actions of the parties that imply
that they have mutually consented to an agency relationship.
