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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

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

2. Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?

A) The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.
B) Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.
C) The buyer's broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.
D) Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.

3. A prescriptive easement is proven by a

A) quiet title action.
B) title policy.
C) recorded abstract.
D) previous recorded deed.

4. A subordination agreement is used to

A) assign rents to the lender in case of borrower default.
B) pledge property for a loan without giving up possession.
C) change the priority of mortgages.
D) initiate foreclosure proceedings.

5. A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75 points.
How much money does the buyer need up front to make the purchase?

A) $46,838
B) $45,788
C) $47,625
D) $45,000

Solutions: