CRES Connecticut Real Estate Salesperson - Set 2 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: At a real estate settlement, one neutral party collects the buyer's funds, ensures the deed and mortgage are signed, pays off existing liens, and disburses the remaining proceeds to the seller. This coordinating party is best described as which of the following?

The closing or settlement agent

The seller's listing broker

The buyer's home inspector

The municipal tax assessor

Question 42: At closing on a Stamford condo the buyer pays a one-time premium for a policy that protects her, up to the purchase price, against covered title defects for as long as she or her heirs own the property. Which policy did she buy?

A lender's title policy

A homeowner's hazard policy

An owner's title policy

A home warranty contract

Question 43: Within a general warranty deed one specific covenant assures the grantee that the grantor actually owns the estate being conveyed and holds the legal right to transfer it at the moment of the conveyance. Which covenant provides that particular assurance?

Covenant against encumbrances

Covenant of seisin

Covenant of quiet enjoyment

Covenant of further assurance

Question 44: After settlement on a Hartford colonial, the buyer carries the signed deed to the town clerk and enters it into the public land records maintained locally. This act of recording chiefly serves to give the world which of the following?

Constructive notice of his ownership

Actual notice of every lien

Marketable title free of defects

A warranty against all encumbrances

Question 45: A New Haven historic home's title shows a possible leftover interest from a divorced former spouse, and the attorney wants that person to release any claim she might hold without promising she owns anything. Which deed best accomplishes this release?

General warranty deed

Special warranty deed

Bargain and sale deed

Quitclaim deed

Question 46: A seller signs and hands the executed deed to the buyer at a Norwalk closing table, and the buyer takes it willingly with intent to own the colonial. Title actually passes to the buyer at the moment marked by which of the following events?

Signing of the purchase contract

Recording the deed at town clerk

Delivery and acceptance of the deed

Payment of the earnest money

Question 47: A seller of a Greenwich colonial signs a deed promising to defend the buyer's title against all claims arising at any time, even from owners who held the property long before the seller acquired it. Which deed provides this broadest protection?

General warranty deed

Special warranty deed

Bargain and sale deed

Quitclaim deed

Question 48: A purchase contract for a Norwalk property requires the seller to deliver title free from reasonable doubt about defects, the kind a well-informed and prudent buyer would willingly accept without fear of litigation. Which standard of title quality does that contract language describe?

Insurable title

Equitable title

Record title

Marketable title

Question 49: While examining the town clerk's records, an attorney discovers that one link is missing: title appears to jump from an owner decades ago to a later grantor with no recorded conveyance connecting them. Which title problem has the attorney identified?

A prescriptive easement

An encroachment

A gap in the chain of title

A lis pendens

Question 50: A bank has taken back a Norwalk condo through foreclosure and now offers it for sale. Because the lender never lived in the unit and lacks personal knowledge of its condition, buyers of such bank-owned property should generally expect which of the following?

A full seller condition disclosure

An as-is sale with limited disclosures

A guaranteed defect-free property

An automatic price reduction

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