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CT Real Estate Chapters 1-10 Practice Exam Questions with Verified Answers 10. A property owner wishes to net $56,500 from the sale of a vacant lot. After paying closing costs of $2,285 and a 7% commission, what must the selling price be (rounded to the nearest dollar)? a. $60,455 b. $60,753 c. $62,400 d. $63,210 - ANSWER-d. $63.210. 11. A house was listed for sale at $184,900. The seller received $171,000 after paying the broker a 5% commission. What was the selling price of the prop...

Ct real Estate Chapter 1 Questions and Answers How is dual agency allowed - ANSWER-This is only allowed if both clients get the written informed consent Who has the option of designating one sales person's specifically represent only one client and another person to specifically represent only the other client in the same brokerage - ANSWER-The broker Will the broker still be considered dual agent if there's designated sales persons - ANSWER-yes Tw sales persons in the same age...

CT Real Estate Agency 101 Exam Questions and Answers Diligent Effort - ANSWER-Working hard to make sure you do the job, and keeping the client always updated on what's going on. Electronic Communication must include... - ANSWER--the 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 Engaging in the Real Estate Business - ANSWER-Any person acting for another for a fee, commission, or ...

CT RE Practice Exam Questions with Complete Solutions In cases of involuntary partition, the owners are advised to - ANSWER-Petition the superior court for equitable relief Legal descriptions of property in CT predominantly follow the - ANSWER-Metes-and-bounds method The Connecticut Department of Consumer Protection requires that the land surveyors - ANSWER-Be licensed by the Department of Consumer Protection, Division of Land Surveyors and Professional Engineers Questions about boun...

CT Quiz Correct Answers A real estate broker who regrets a provision in a purchase and sale contract on behalf of a client has most likely - ANSWER-Engaging in the practice of law without a license which is illegal (unless The broker is also an attorney). All funds received by a broker on behalf of his or her client must be deposited in an escrow or trust account within three - ANSWER-Banking days of receiving all signatures. How old must a citizen of Connecticut before he or she may ...

Connecticut Quiz 10 Correct Answers In addition to a course in real estate principles and practices, an broker applicant must also take courses in - ANSWER-Real estate brokerage principles and practices and legal compliances Applicants who fail a license exam - ANSWER-Are notified of the results at the exam site The initial sale person's license fee is presently_____, and the annual renewals are ________. - ANSWER-$285, $285 After moving to CT, Alan applies for a real estate sal...

CT Exam Questions and Answers The disclosure for unrepresented customer is a state mandated form called.... - ANSWER-Real estate agency disclosure notice given to unrepresented persons Often a real estate broken who represents a seller will allow agents at other brokerage firms to show the sellers property... This type of working relationship is referred to as .... - ANSWER-on behalf of the seller/ co-brokerage In the past co-brokers were considered subagents of the seller, meaning bo...

CT Practice Exam Questions with Correct Answers The time required for acquisition of prescriptive easements is - ANSWER-C. 15 years. An easement by prescription may be extinguished if the owner takes, obtains, or regains an open and continuous control and possession of the property for - ANSWER-A. 15 years. - X A couple were married on July 4, 2007. Both individually owned a condominium prior to their marriage in their own name. They decided to keep the condominium units separate. Onc...

CT portion Exam Questions and Answers time required for acquisition of prescriptive easement - ANSWER-15 years Under CT licensing law, Brokers and agents have to disclose a present or contemplated interest in a property listed with them if - ANSWER-they want to buy the property for themselves in CT brokerage records are to be kept for - ANSWER-7 years Escrow fund must be deposited within how many days of signatures from both parties - ANSWER-3 banking days Failure to submit proper...

CT Exam PSI SG Exam Questions and Answers How can a prescriptive easement be terminated in Connecticut? - ANSWER-Abandonment If a licensee who isn't affiliated with a broker wishes to advertise property listed by that broker, the licensee may not do which of the following? - ANSWER-Change the broker's listing information without consulting the broker In Connecticut, a listing broker has a duty to present all offers to the seller without changing or leaving out significant details....

CT Chapter 10 Quiz Complete Solutions a. Be completed before taken the written exam - ANSWER-Applications for any real estate license in Connecticut must a. Be completed before taken the written exam b. Contain a picture of the application c. Be accompanied by a sworn statement d. Be accompanied by a sworn statement attesting to the applicant's character c. Are exempt from the licensing requirements if you reside at the apartment complex - ANSWER-You are employed by an apartmen...

CT chap 17 environmental issues QUIZ latest update d (ct law doesn't require private residential wells be tested but if such test is conducted, results must be reported to municipality public health authority) - ANSWER-buyer ordered home inspection including testing of well water for home being purchased. results of water quality test must be a. kept confidential by firm conducting test b. reported to buyer only c. reported to buyer/seller of property d. reported to municipal public...

CT BOOK REAL ESTATE LAW REVIEW QUESTIONS AND ANSWERS sign real estate agency disclosure notice given to unrepresented persons - ANSWER-unrepresented persons making an offer must true (legal but rarely used) - ANSWER-is subagency legal in ct? negotiable - ANSWER-the amount of broker compensation is false - ANSWER-must compensation be split equally? they must pay the agent - ANSWER-checks for referral fees are payable to the broker and 7 years - ANSWER-in ct records must be ret...

Ch 10 License Law QUIZ Latest Update d (applicants for real estate license must take an approved 60 hour course in real estate principles and practices. in addition applicants for brokers license must take 15 hours of real estate brokerage principles and practices, complete 15 hours of legal compliance, do 1 of following: 2 15 your relicense elective courses, take one 30 hour appraisal course, provide evidence of successfully completing at least 20 real estate transactions in previous 5 yea...

Connecticut state law exam questions and answers Handling of deposits - ANSWER-No commingling of money. Deposits must be made within three banking days. Misrepresentation - ANSWER-Not disclosing a material fact Disclosure of nonmaterial facts - ANSWER-Death, emergency illness, health condition Advertising defined - ANSWER-All forms of identification, representation, promotion, and solicitation disseminated in any manner and any means of communication to the public for any purpose r...

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...

Connecticut Real Estate Practice and Law Quiz Questions with Correct Answers In the previous question, if the broker wished to represent the buyer, Connecticut licensing law requires that the broker enter into a. an oral agency agreement b. a co-brokerage agreement c. a dual agency agreement d. a written agency agreement - ANSWER-d. a written agency agreement When a broker represents the seller of real estate, an agency disclosure must be given to a. any potential unrepresented purc...

Connecticut real estate practice and law chapter 10 (quiz) Complete Answers Applicants who fail a license examination - ANSWER-are notified of the results at the examination site. The initial sales person's license fee is presently in annually renewals are - ANSWER-$285/285 After moving to Connecticut Allen applies for a real estate sales person's license. The commission discovers from his application that he was refused a license in a former state because he was not yet 18 Alle...

Connecticut Real Estate Practice & Law Chapter 2 Listing & Buyer Agency Agreements Quiz Betty is interested in seeing a house listed with Hartfield Realty but does not wish to enter into a buyer agency agreement with Hartfield Realty. A salesperson from Hartfield Realty can show Betty an in-house listing if - ANSWER-the salesperson provides Betty with an Agency Disclosure Notice, stating that Hartfield Realty represents the seller In Connecticut a net listing is - ANSWER-Illegal A broke...

Connecticut Real Estate Practice & Law Chapter 1-Real Estate Brokerage and Agency Latest Update Client - ANSWER-The principle in an agency relationship or other form of representation. Representation - ANSWER-The role of a real estate professional acting on behalf of a client in a real estate transaction. Agency relationship - ANSWER-When a broker represents a person, the broker is the agent, and the person represented is the client. Written agency agreement - ANSWER-Is required by l...