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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A licensee must provide disclosure of licensed status when acting as a principal if

A) the licensee does not have errors and omission insurance.
B) the licensee has any economic interest in the property.
C) the agent of the other party asks about this specifically.
D) any relative of the licensee has ever lived in the residence.

2. A buyer wants to purchase a home for $275,000 with a 20% down payment. The lender charges 2.25 points.
How much money does the buyer need up front to make the purchase?

A) $56,238
B) $61,188
C) $55,000
D) $59,950

3. The common area of a condominium development is owned by

A) its duly elected Board of Directors.
B) all owners as tenants in common.
C) those owners who were original owners of the units.
D) any individuals who pay a prorated share of the taxes and maintenance.

4. When a licensee is hired to find a tenant for a summer vacation home on Cape Cod built in 1950, for a period of two weeks,

A) The Massachusetts Fair Housing Law does not apply.
B) An unlicensed assistant may handle the transaction.
C) There is no limit on the amount of the security deposit.
D) The Massachusetts Lead Law is not applicable.

5. Time is of the essence means

A) the closing must occur as soon as possible.
B) time limits stated in the contract may not be modified, even by mutual agreement of the parties.
C) time limits set forth in the contract must be carefully observed.
D) every act under the contract must be performed on the exact date specified.

Solutions: