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Connecticut Real Estate Licensing Exam: STATE CONTENT Katherine A. Pancak, University of Connecticut Connecticut Real Estate Instructors Seminar, March.

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Presentation on theme: "Connecticut Real Estate Licensing Exam: STATE CONTENT Katherine A. Pancak, University of Connecticut Connecticut Real Estate Instructors Seminar, March."— Presentation transcript:

1 Connecticut Real Estate Licensing Exam: STATE CONTENT Katherine A. Pancak, University of Connecticut Connecticut Real Estate Instructors Seminar, March 30, 2007

2 Number of Questions – State Portion Salespersons Exam –30 questions –plus 5 pretest questions Broker Exam –40 questions –plus 5 pretest questions

3 Overview – State Content Outline Connecticut Real Estate Commission and Licensing Requirements –(Sales 5 questions; Broker 5 questions) Connecticut Laws Governing the Activities of Licensees –(Sales 10 questions; Broker 11 questions) Connecticut Real Estate Agency –(Sales 8 questions; Broker 9 questions) Connecticut-Specific Real Estate Principles and Practices –(Sales 7 questions, Broker 7 questions) For Brokers Exam Only –(Broker 8 questions)

4 Connecticut Real Estate Commission and Licensing Requirements Real Estate Commission Powers and Duties –Sec. 20-311a, b, e, f; Sec. 20-314a, c; Sec. 20-326 Activities Requiring a License –Sec. 20-311; Sec. 20-312 Exemptions from Licensure –Sec. 20-311; Sec. 20-314c; Sec. 20-329 License Types and Qualifications –Sec. 20-314; Sec. 20-316 License Renewal, Continuing Education, and Transfer –Sec. 20-314; Sec. 20-319; Sec.20-319a; Sec. 20-328-10a Real Estate Guaranty Fund –Sec. 20-324a, e License Suspension and Revocation –Sec. 20-320

5 Connecticut Laws Governing the Activities of Licensees Broker/Salesperson Relationship –Sec. 20-311; Sec. 20-312a, b; CREC Policy on Agency Overview (3) Duties to Parties –Sec. 20-328-2a Handling of Deposits and Other Monies –Sec. 8-365f; Sec. 20-328-7a Misrepresentation –Sec. 20-328-5a Disclosure of Nonmaterial Facts –Sec. 20-329cc, ee Advertising –Sec. 20-328-5a Commissions and Compensation –Sec. 20-325a; Sec. 20-328-8a Unlicensed Personal Assistants –CREC Policy on Use of Unlicensed Persons by Licensees

6 Connecticut Real Estate Agency Agency: Representing a Client vs. Working with a Customer –CREC Policy on Agency (5) Agency Agreements –Sec. 20-328-6a; CREC Policy on Agency (5) Agency Disclosure –Sec. 20-325d-2, 5, 7 Subagency Limitations –Sec. 20-325f Dual Agency –Sec. 20-325g; CREC Policy on Agency (8) Designated Agency –Sec. 20-325i, j; CREC Policy on Agency (12) Confidential Information –Sec. 20-325h Interference with Agency Relationships –Sec. 20-328-9a; CREC Policy on Referral Fees and Interfering with Agency Relationships

7 Connecticut-Specific Real Estate Principles and Practices Connecticut-Specific Property Ownership and Transfer Issues Co-ownership Forms and Shares –Sec. 47-14a, g Adverse Possession/Prescriptive Easement Time –Sec.47-37 Land Records and Recording –Sec. 47-10; Sec. 47-12 Real Property Taxes and Assessments –Sec. 12-62; Sec. 12-81; Sec. 12-81g, r, bb Conveyance Tax –Sec. 12-494 Residential Property Condition Disclosure –Sec. 20-327b, c Connecticut Landlord-Tenant Act –Sec. 47a-7; Sec. 47a-11; Sec. 47a-21 Connecticut Common Interest Ownership Act –Sec. 47-202; Sec. 47-224; Sec. 47-270 Connecticut Fair Housing Law –Sec. 46a-64c Connecticut Lead Paint Laws –Sec. 19a.-111-3 of The Department of Health Services Regulations Connecticut Disclosure of Of-Site Conditions Law –Sec. 20-327f Connecticut Uniform Electronic Transactions Act –Sec. 1-267; Sec. 1-268; Sec. 1-280

8 For Brokers Exam Only Record keeping –Public Act 06-12 Escrow accounts –Sec. 8-265f; Sec. 20-324k Brokers Lien –Sec. 20-325a Notice of Commission rights in commercial transactions –Sec. 20-325k Cooperation with out-of-state brokers –Sec. 20-325l Interstate land sales –Sec. 20-329b, h; Sec. 20-329b-f Mortgage brokerage fees charged by brokers –Sec. 20-325c Real properties securities / syndication –Sec. 20-329q; Sec. 47-92; Sec. 47-99


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