Connecticut Real Estate Exam Study Questions With Correct Answers.
Connecticut Real Estate Commissions primary duties: Answer- 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? Answer- 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.. Answer- 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.. Answer- be bonded in accordance with the requirements of the state insurance purchasing board.Are CT Real Estate Commission members paid for their services? Answer- 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 Answer- 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
- must have a salesperson license
- must have a brokers license
- are exempt from the licensing requirements if you reside at the apartment
- are violating the license law Answer- C) are exempt from the licensing
complex
requirements if you reside at the apartment complex The initial salespersons license fee is presently ----, and annual renewals are ----
A) $285/$285
B) $565/$285
C) $285/$75
- $565/$375 Answer- A) $285/$285 1 / 2
Connecticut Real Estate Exam Study Questions With Correct Answers.Which of the following is EXEMPT from the real estate licensing requirement?
- attorney at law when serving as legal counsel to a client
- Appraiser when valuing a client's property
- Associations, partnerships, corporations
- Real property securities dealers Answer- A) attorney at law when serving as legal
- address of all properties listed
- sellers contact information for all of the properties listed
- last date when bennshoed any of the properties listed
- last date when the website property information was updated. Answer- D) last
- A broker who does not receive an earned commision
- A seller who pays a commission to a broker under false pretenses
- A buyer who pays a fee to a broker under a buyer agency agreement
- A cooperating broker who does not receive a commission split Answer- B) A
counsel to a client Ben broker maintains the website that highlights all of the property listings that he has. Ben knows that the licensing law requires that he include certain information on this website, including the certain information on this website, including the
date when the website property information was updated.Who may receive compensation form the Real Estate Guaranty Fund?
seller who pays a commission to a broker under false pretenses to change broker affiliation, a salesperson must Answer- Register the change with the commission A saleswoman regularly communicates with all of her clients and potential claims via email. The licensing law requires that her email contains all of the following EXCEPT
Answer- CORRECT ANSWER: her license certificate number
Should include her 1) name and office address 2) the name of the broker she is affiliated with 3) all of the states where she licensed Duel Agency Answer- 1) Both clients must give written formal consent 2) In this situation all salespersons working for the broker are also duel agents Designated Agency Answer- A process that accommodates an in-house sale in which two different agents are involved. The broker designates one agent to represent the seller and one agent to represent the buyer.Agency Relationship Answer- Fiduciary relationship (relationship of trust) in which agent acts on behalf of principal Real Estate Broker Answer- A person licensed to arrange for the purchase and sale of real estate for a fee or commission.
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