Free Connecticut Real Estate Practice Exam Questions (April 2024) 30+

A broker or salesperson must report to the commission if they have been convicted of a crime within ten days of the conviction.

Regarding real estate licenses reciprocity, Connecticut does with the following states: Alabama, Colorado, Florida, Georgia, Illinois, Indiana, Massachusetts, Mississippi, Nebraska, New York, Ohio, Oklahoma, Rhode Island.

Sellers and agents can be liable for failing to give certain documents. One of them is a written disclosure of the Connecticut Department of Environmental Protection lists.

Unlicensed activity is highly illegal in Connecticut. Once someone is actively licensed only then can they start practicing real estate. In order to achieve that status they must do the following. Pass the exam, have their broker receive the results, complete the appropriate paperwork, and get the license issued.

The max amount the Connecticut Real Estate Guarantee Fund will pay is $25,000.00. Regardless of the number of licensees held liable.

All of the above are protected classes. It is against the law to deny anyone housing in Connecticut because of their: Race, Color, National origin, Sex (gender), Religion, Children or family status, Disability (mental or physical), Ancestry, Marital status, Age (except minors), Sexual orientation, Gender identity or expression, Legal source of income, Veteran status.

None, all agents and brokers are required to complete required continuing education.

By state law, the only way to get rid of a tenant is by legal eviction.

In Connecticut you can sell as much real estate as you’d like as long as you are doing it legally. Establishing a net listing however, is not legal in the state of Connecticut while open listings are.

Connecticut Real Estate Guarantee Fund is supported by a one-time fee of $20.00 charged to each new license applicant, plus renewal fees. Sometimes the fee can be increased if the fund is below a certain amount, but it is almost always $20.00.

Under Connecticut License Law influencing real estate appraisals is prohibited. Per Connecticut Real Estate Law: Sec. 20-320b

Unless Jessica hires the listing broker then she is considered a customer.

In Connecticut a security deposit must be put into an escrow account on each anniversary of the lease. The tenant is entitled to the payment and the interest earned on the deposit.

A seller who pays a commission to a broker under false pretenses would be able to apply for compensation from the Connecticut Real Estate Guarantee Fund. While the other instances are more than likely illegal, this is the only case that grants access to the fund.

Tenants in common or tenancy in common is when a parcel of real estate is owned by two or more tenants. Upon the death of a tenant in common, that share is transferred to the estate or heir of the deceased tenant. Owners own percentages in an undivided property rather than particular units or apartments, and their deeds show only their ownership percentages. In some states tenants in common is used in others its not. For our case, in Connecticut they recognize tenancy in common.

The commission believe or not can and will act as a board of arbitration if there is a voluntary commission dispute between brokers or salespersons. “The commission shall have the power to act as a board of arbitration to consider and decide any dispute over commissions arising between brokers or salespersons that is voluntarily submitted to the commission by the parties to such dispute.” Per Connecticut Real Estate Law: Sec. 20-311f

In Connecticut continuing education is required once every two years.

Whenever you pay your agency fees a portion of those fees go towards the recovery fund, it's $25.00 normally, the goal is for the fund to be $500,000. If it lower than that the commission may ask for an additional fee or take money from interests built on investments. Per the Connecticut License Law: Sec. 20-324c.

Any application for compensation from the Connecticut Real Estate Guarantee Fund must be brought within two years from the final determination of, or expiration of appeal rights concerning, any judgment. This means once the court makes its decision the affected have two years to apply for compensation. Per Connecticut License Law: Sec. 20-324d

In Connecticut, all real estate licenses expire annually on May 31st.

Ads containing only a post office box number are known as blind ads which in Connecticut are illegal.

The Real Estate Commission consists of a minimum of three brokers, two salespersons, and a district representative and a representative of the public at large. This is clearly defined in Sec. 20-311 of the Connecticut real estate code.

The Connecticut Real Estate Commission handles all licensing for Connecticut. If someone decides to deactivate their license they must send it back to the Commission.

The agent can, in fact, practice real estate again when the amount paid on his or her behalf is repaid with interest. It has to be completely paid off otherwise their license remains suspended.

The Real Estate Commission may impose a fine of not more than one thousand dollars on any corporation, limited liability company, partnership or limited liability partnership that engages in real estate business without a license required by this section. Per - Sec. 20-312.

Injunctions are handled by Connecticut state judges, not the commission. Injections are court ordered typically. The commission handles complaints, reprimands, investigations, and more - just not injunctions, that falls on the judges and the court system.

Connecticut license law forbids a licensee from interfering in an agency relationship established by a representation agreement.

Connecticut Real Estate Guarantee Fund is supported by a one-time fee of $25.00 charged to each new license applicant plus licensees renewal fees. Renewal fee wise, $3.00 heads to the fund. Per Connecticut Real Estate Law: Sec. 20-314

A property manager must hold a real estate license in Connecticut. As well as a broker, and salesperson. An unlicensed assistant is not considered an agent because they no hold a license. It violates Connecticut law for an unlicensed assistant to do tasks that require a license.

In Connecticut, licensed activity is defined as anyone who lists, sells, leases, or deals in real estate transactions. If someone does any of those activities without a license it is considered unlicensed activity. In order to do prior tasks they must hold an active real estate license.