CONNECTICUT REAL ESTATE EXAM ACTUAL 300 CORRECT QUESTIONS WITH VERIFIED ANSWERS

CONNECTICUT REAL ESTATE EXAM ACTUAL 300 CORRECT QUESTIONS WITH VERIFIED ANSWERS
Question 1: The seller and the buyer finally agreed to a purchase
price of $203,500 with the closing to occur on June 15. The
taxes for the year in the amount of $2,500 have not been paid by
the seller. (Taxes are paid in arrears). How much would the tax
proration amount to, and how would it appear on a full
settlement statement? Base your answer on a 365 day year, and
the buyer is responsible for the day of settlement.
CORRECT ANSWER: $1,130.14 debit the seller and credit the
buyer
Question 2: The Pickets are purchasing a home for $780,000 and
the lender is giving them a 90% loan at 5% interest, plus a 2%
loan origination fee. How much is the loan origination fee?
CORRECT ANSWER: $14,040
Question 3: The sellers listed their property for six months on
February 26 for $522,500. They agreed to pay the listing broker
a 7% commission at closing on the agreed upon sale price. A
buyer made an offer on the property on March 29 for $510,000.
The seller countered the offer on April 1 at $517,500, and the 

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