CT Real Estate Final Mock Exam Question and Answers [100% Correct] 2025 Latest Release
3 views 0 purchase
Course
Real Estate
Institution
Real Estate
CT Real Estate Final Mock Exam Question
and Answers [100% Correct] 2025 Latest
Release
What does a real estate agent need to include in an advertising brochure or flyer under Connecticut law?
The agent must include their name, the brokerage name, and a statement indicating that the
adve...
CT Real Estate Final Mock Exam Question
and Answers [100% Correct] 2025 Latest
Release
What does a real estate agent need to include in an advertising brochure or flyer under Connecticut law?
The agent must include their name, the brokerage name, and a statement indicating that the
advertisement is for real estate services.
How does Connecticut law handle lead paint disclosure in homes built before 1978?
Sellers are required to provide a lead-based paint disclosure form and allow buyers a 10-day
period to inspect for lead hazards.
What is the maximum penalty for a real estate violation in Connecticut?
The maximum penalty can be a fine of up to $15,000, along with potential suspension or
revocation of the agent’s license.
How is a buyer's earnest money deposit typically handled in Connecticut?
The earnest money is held in escrow by the broker until closing, at which point it is applied to the
purchase price or refunded under certain conditions.
What is a short sale in real estate?
A short sale occurs when the seller owes more on the mortgage than the current market value of
the property, and the lender agrees to accept less than the full balance.
What is a tenancy in common?
A tenancy in common is a form of property ownership where each owner holds an undivided
share of the property, which can be sold or transferred independently.
How does Connecticut law address illegal discrimination in rental housing?
1
, Discrimination based on race, color, religion, sex, national origin, disability, or familial status is
prohibited in rental housing.
What happens if a contract to purchase real estate in Connecticut is signed but not executed?
If a contract is signed but not executed, the buyer may not have legal recourse unless specific
contingencies or actions are taken.
What does a real estate agent in Connecticut need to do when there is a potential conflict of interest?
The agent must disclose the conflict of interest to all parties involved and seek written consent to
continue the representation.
What is the role of the Connecticut Department of Consumer Protection in real estate transactions?
The Department of Consumer Protection oversees the regulation and enforcement of real estate
laws in Connecticut.
What is a valid reason for a buyer to back out of a real estate contract in Connecticut?
A buyer can back out due to failed inspections, financing issues, or if contingencies in the contract
are not met.
What are the responsibilities of a seller’s agent during the negotiation process?
The seller’s agent must act in the seller’s best interest, present all offers, and negotiate terms that
benefit the seller.
What should a real estate agent do if a buyer makes a lowball offer?
The agent should present the offer to the seller, advise on strategy, and encourage open
communication to find a middle ground.
What is a "cloud on the title" in Connecticut real estate?
A cloud on the title is a potential legal claim against the property, which must be cleared up
before the property can be sold.
2
, How can a real estate agent protect themselves legally during a transaction in Connecticut?
An agent should ensure all agreements are in writing, avoid conflicts of interest, and maintain
accurate records of all communications.
What are the possible consequences of practicing real estate without a license in Connecticut?
Practicing without a license can result in significant fines, penalties, and possible imprisonment.
What is a mortgage contingency clause in a real estate contract?
A mortgage contingency clause allows the buyer to back out of the contract if they are unable to
secure financing.
What must be included in a real estate contract in Connecticut to make it legally binding?
The contract must include the buyer and seller’s names, the property description, the price, and
signatures of both parties.
What does "property disclosure" mean in real estate?
Property disclosure refers to the seller’s obligation to inform the buyer about the condition of the
property, including any known defects or issues.
What is an example of an encumbrance on a property?
An encumbrance is a legal claim on the property, such as a lien, mortgage, or easement, that
affects the title.
What does "subdivision" mean in real estate terms?
A subdivision is the division of a large parcel of land into smaller lots for the purpose of sale or
development.
What is an escrow account used for in Connecticut real estate transactions?
An escrow account holds funds, such as earnest money or property taxes, until certain conditions
of the transaction are met.
3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StellarGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.54. You're not tied to anything after your purchase.
