1.†† John wants to become a broker in Connecticut.† Before he can receive his broker license, he must take a course in:
A.† Fair Housing
2.†† Dave owes a lot of money. He is being sued by lots of creditors.† The main ones are his 1st Mortgagee bank for $125,000 (a lien against his home,) his 2nd Mortgagee bank for $75,000 (also a lien against his home) and a group of general creditors who have sued and attached his home for a total of $50,000.† His home is worth $280,000.† Daveís 1st Mortgagee bank files a foreclosure action against the home.† If the home sells for $200,000 at the foreclosure sale, how much can the 1st Mortgagee bank receive?
3.†† Bob married Judy. Later, Bob created a will that gave Clarise all of his property. Bob dies while still married to Judy. Judy decided to use the widowís election. What will she get from Bobís estate?
4.†† Which of the following documents are normally recorded in Connecticut?
A.† Mortgage release
B.† Land Contract
C.† Listing Contract
D.† All of the above
5.†† Three persons own a parcel of property in Connecticut. They are joint tenants. They
6.†† The total conveyance tax on a businessís property that sells for $125,000 is:
7.†† A homeowner in Bankruptcy may exempt how much equity in the home from the debt owed a general unsecured creditor:
8.†† The Real Estate Guaranty Fund is funded by
9.†† The amount the Real Estate Guaranty Fund will pay to a claimant is
10. Chucky is a 19 year-old male who has no job. In fact, he has never even bother to get a social security number and has never needed one.† He wants to rent an apartment to a kindly lady named Edna.† Chucky seems nice enough, but Edna requires references and proof of employment for all of her tenants.† Chucky has lots of references, but he has never had a job. However, he agrees to pay Edna in cash (small bills) for the total rent for the entire term of the lease, in advance, before moving in. Edna says no. No job. No lease. Thatís her rule. Edna
11. A mechanicís lien
12. A warranty deed consists of three pages of text plus a one-page description of the property. The recording fees for the deed are:
13. John is the licensed designated broker for Uphill Real Estate Agency.† Joe, one of his salespersons, represents a buyer that wants to make an offer on a house listed by one of Johnís other salespersons, Jill.† John is concerned about ethics and appearances, so he decides to appoint Joe and Jill as Designated Agents for their respective clients. Which of the following is NOT true:
14. The Connecticut Department of Environmental Protection has the authority to:
15. Connecticut law allows a landlord to:
YOU FINISHED ANOTHER ONE!† Special Thanks to Bob Mercer of the New England School of Real Estate for writing the Connecticut Law Quiz and Explanations.† Find a few more questions on Connecticut Law on the Search By State pages at RealtyComplete.com.