Connecticut License Law
The Connecticut Real Estate Guaranty Fund provides compensation to consumers who have suffered financial loss due to a licensee's misconduct. The maximum payment per transaction is:
A$10,000
B$25,000
C$50,000✓ Correct
D$100,000
Explanation
Connecticut's Real Estate Guaranty Fund provides a maximum recovery of $50,000 per transaction (and $150,000 per licensee lifetime). Consumers must first obtain a judgment against the licensee before applying to the Fund.
Related Connecticut Connecticut License Law Questions
- A Connecticut real estate salesperson who wants to change employing brokers must:
- A Connecticut real estate licensee who receives a written offer on a listed property must present it to the seller:
- A Connecticut broker receives a complaint that they engaged in 'misrepresentation' during a real estate transaction. The complaint is filed with:
- A Connecticut real estate licensee uses a client's personal financial information to invest in a property the client was considering. This is a violation of which fiduciary duty?
- A Connecticut licensee is also a licensed attorney. When the licensee is acting as an attorney in a real estate transaction, their real estate license law obligations:
- A Connecticut licensee has their license suspended for 6 months. After the suspension ends, the licensee may:
- How many years of active real estate salesperson experience is required before applying for a Connecticut broker license?
- Which agency regulates real estate licenses in Connecticut?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →