Real Estate Massachusetts-Real-Estate-Salesperson : Massachusetts Real Estate Salesperson Exam

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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A motel is the subject of an appraisal and it is determined that a rerouting of a county highway has limited customer access to the motel. This is an example of

A) functional obsolescence.
B) economic obsolescence.
C) landlocked property.
D) regression.

2. What kind of lease would require the lessee to pay the taxes, insurance, repairs, and other operating expenses of the premises in addition to the regular rental payment?

A) net lease
B) percentage lease
C) gross lease
D) graduated lease

3. To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?

A) FHA and VA financing available
B) owner willing to finance
C) buy for less than $650 per month
D) assumable loan

4. Standard title insurance would protect a buyer

A) if after closing, the HOA placed a lien on the property for the previous owner's unpaid dues.
B) in a purchase where the buyer had knowledge of a shed violating setback requirements.
C) when the seller has forged an ex-partner's signature on the deed.
D) for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.

5. In a jurisdiction where the common law of agency applies, a broker has listed a home and then presented to the seller an offer from another client of the broker. The offer has been accepted. The broker has what type of agency relationship with the parties?

A) no agency relationship; in this situation the broker becomes a facilitator only
B) seller agency, buyer sub-agency
C) seller agency, no agency relationship with buyer
D) dual agency

Solutions: