Study guides, Class notes & Summaries

CT Real Estate exam General: Property ownership Questions and Answers 100% Pass Survey - Correct Answer ️️ -location and dimension of property Real Property - Correct Answer ️️ -The house and land Personal Property - Correct Answer ️️ -everything but the house and land Improvement - Correct Answer ️️ -Addition to the property or land Vertical Land description - Correct Answer ️️ -Defining the Air rights Fixture - Correct Answer ️️ -once-moveable items attached to r...

Connecticut Real Estate Practice & Law Chapter 2 Listing & Buyer Agency Agreements Quiz 100% Correct Solved Buyer-brokerage contracts in Connecticut - Correct Answer ️️ -must be in writing to be enforceable A broker enters into a listing agreement with a seller. The property does not sell, and the listing expires. For how long does the broker need to keep a copy of the listingagreement and related documents? - Correct Answer ️️ -Seven Years In Connecticut, real estate commission a...

CT Real Estate Agency 101 Exam Review questions and answers, graded A+/ verified. Agency relationship - -When a broker represents a person. broker is the agent, person is the client/principal. Broker owes fiduciary responsibility to the client . Broker - -A person who performs real estate activities for a real estate consumer. In CT only a broker can enter into an agency relationship with a client. Agency runs from broker to client. All salespersons working for the broker are automati...

CT real estate Exam Review questions and answers, graded A+/ verified. What characteristics of land have the most impact on market value - -Uniqueness and immobility How does a landlord acquire fixtures left by a tenant after lease expires - -Permanence A person engaging in real estate activities for another and for a fee must hold of valid - -Brokers license Under Connecticut licensing law, a limited liability company will be granted a brokers license only if - -All owners of the LLC h...

Ct Real Estate Exam Review questions and answers, 100% Accurate, graded A+/ Abstract of Title - -The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate. Accelerated Cost Recovery System (ACRS) - -Method for claiming tax deductions for certain property purchased before 1987 in...

CT Real Estate Exam Review questions and answers, graded A+/ verified. Ad valorem - -based on value Agency - -The fiduciary relationship in which the agent is held in a position of special trust and confidence by the principal. Antitrust Laws - -Laws that prohibit price-fixing, group boycotting, allocation of customers or markets, and tie-in agreements. Appurtenance - -A right of privilege associated with real property in some way. Assessed value - -Value based on sales prices of comp...

CT Real Estate Licensing Practice Exam Review questions and answers, graded A+/ verified. A broker and the buyers he represents are anxiously awaiting the closing on their new home. The closing is scheduled in 4 days. The buyers inform the broker that they just received revised Loan Estimate and Closing Disclosure forms from the lender, indicating the Annual Percentage Rate on their loan has increased by 0.3%. Based on the TILA-RESPA Integrated Disclosure rule, what action should the br...

Ct Real Estate Practice exam general Exam Review questions and answers, graded A+/ verified. Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics MOST likely explains the price difference? - -Situs How does a creditor who has obtained a judgment get satisfaction against a debtor who will not pay? - -Writ of execution What type of map is MOST useful for describing the...

CT Real Estate Practice & Law Exam Review questions and answers, graded A+ A broker Candidate must - -Have been licensed two years and pass the exam with a grade of 75 A broker who enters into an exclusive agency listing contract - -must make a diligent attempt to sell or lease the property A broker who wishes to place a for sale sign on a listed property must first - -obtain the consent of the owner of the property A buyer finds and purchases a for sale by owner home. A broker states ...

CT real estate salesperson exam Review questions and answers, graded A+/ verified. 6 things a licensee cannot do without a written buyer agency agreement - -1) Ask the buyer to disclose confidential information 2) Express an opinion or give advice about particular real esate 3) Physically show the buyer an in-house listing 4) Physically show the buyer a property listed with anither firm 5) discuss an offer with the buyer 6) Engage in any verbal or written negotiations concerning purcha...