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

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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A person acquires an option to purchase a parcel of another person's land. Which of the following statements is correct?

A) The consideration for the option right, plus interest, will be automatically applied to the purchase price if the option is exercised.
B) The terms and conditions of the sale must be stated if the option is to be a valid contract.
C) An option is a promise by the optionee to enter into a contract in the future.
D) The potential buyer is the optionor and the seller is the optionee.

2. An appraisal made by a certified appraiser is required

A) before real property can transfer from one owner to another.
B) before any property settlement in a divorce.
C) when heirs receive property.
D) when the buyer is using an FHA loan to purchase.

3. A buyer is considering a property in one of the subdivisions of a Planned Unit Development (PUD). The buyer noticed nearby properties having detached garages and workshops. The buyer mentions to their agent that they want to build a detached building on the back of the lot for a home business. There is an HOA for this subdivision. Additionally, there are overarching covenants, conditions, and restrictions (CC&Rs) for the PUD. What actions, if any, should be taken by the broker to assure the buyer can use the property as they wish?

A) Take no action because other properties have detached buildings.
B) Recommend the buyer determine if architectural review requirements exist for the subdivision.
C) Recommend the buyer obtain the current CC&Rs and all current HOA documents.
D) Determine if home business use is allowed in the subdivision.

4. Which of the following acts does NOT require notifying the Board of Registration?

A) A broker changes his or her mailing address.
B) A broker commences business under the trade name of ABC Realty.
C) A broker conducts business under the broker's own name.
D) A salesperson terminates employment with one broker and affiliates with another.

5. A buyer receives a seller's property condition disclosure in which the buyer's agent believes the seller has misrepresented the condition of the property. The buyer's agent should

A) remain silent as the agent does not know for certain that the seller has misrepresented the property.
B) recommend that the buyer withdraw from the transaction.
C) point out this concern to the buyer and recommend further inspection or investigation before proceeding.
D) call the listing agent and express this concern.

Solutions: