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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Two top licensees in a small town have agreed not to show listings of a new real estate firm charging a low commission rate to sellers. This behavior is a violation of the

A) federal fair housing laws.
B) Blue-Sky laws.
C) Sherman Antitrust Act.
D) Equal Credit Opportunity Act.

2. An escrow or trust account is often held by a lender to pay

A) interest on a loan.
B) property taxes and insurance payments.
C) mortgage payments.
D) the bank's outstanding invoices.

3. A buyer makes an offer on a property and asks the Seller's broker to recommend a good home inspector. The Seller's broker may

A) Provide the complete list of home inspectors prepared by the Commonwealth of Massachusetts.
B) Recommend a specific home inspector.
C) Provide business cards of local home inspectors.
D) Provide a list of no fewer than 20 licensed home inspectors in the county where the property is located.

4. A buyer and a seller have a purchase agreement that contains a home inspection contingency. The buyer has applied for a VA mortgage. After the home inspection is completed, the buyer writes an addendum requesting that the seller pay to repair several items found by the home inspector. The seller counters the addendum by requiring that the buyer agree that the repairs will be made, but that no further expenses will be incurred by the seller. The VA appraisal inspection has not been conducted. Under these circumstances, which of the following is correct?

A) The VA inspection is not necessary because the buyer's home inspection report will be sent to the mortgage company.
B) There is no longer a valid contract.
C) The original contract is still in effect.
D) The licensee should encourage the seller to place the home back on the market.

5. Which of the following property valuation estimates or reports would have to be prepared by a licensed or certified appraiser?

A) a reconciliation report for an FHA loan
B) a value analysis for a non-residential property valued below $250,000
C) a broker's price opinion
D) a comparative market analysis

Solutions: