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Real Estate Salesperson Exam — National Portion

Recovery fund (CT): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Connecticut

Within what time must an application to the Real Estate Guaranty Fund be brought?

  1. One year from the date the fraud or embezzlement was first discovered
  2. Six months from the date the licensee's license was suspended or revoked
  3. Two years from final determination of the arbitration decision or judgment
  4. Three years from the closing date of the underlying real estate transaction
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C. Two years from final determination of the arbitration decision or judgment — Conn. Gen. Stat. 20-324d, as amended by P.A. 26-100, s. 15.

Question 2 · Connecticut

Above what balance are Real Estate Guaranty Fund moneys transferred to the General Fund?

  1. $1,000,000
  2. $75,000
  3. $500,000
  4. $750,000
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C. $500,000 — Conn. Gen. Stat. 20-324c, as amended by P.A. 26-100, s. 14.

Question 3 · Connecticut

What is the most the Connecticut Real Estate Guaranty Fund will pay in connection with any one transaction or claim?

  1. $25,000 in the aggregate
  2. $100,000 in the aggregate
  3. $50,000 in the aggregate
  4. $7,500 in the aggregate
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A. $25,000 in the aggregate — Conn. Gen. Stat. 20-324a, as amended by P.A. 26-100, s. 13.

Question 4 · Connecticut

After the Guaranty Fund pays a claim caused by a licensee, when may that person receive a new license?

  1. After repaying the amount in full plus 10 percent yearly interest
  2. After waiting five years from the date the fund paid out
  3. After posting a surety bond equal to the amount paid out
  4. After completing twelve extra hours of ethics coursework
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A. After repaying the amount in full plus 10 percent yearly interest — Conn. Gen. Stat. 20-324e(e), as amended by P.A. 25-111 and P.A. 26-100, s. 16.

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