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Real Estate Massachusetts Real Estate Salesperson - Massachusetts-Real-Estate-Salesperson Exam Practice Test

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Total 139 questions

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Question 1

A licensee listed a property that had an unfinished garage. The licensee received an offer subject to the garage being finished. Was a contractual obligation created?

A. No, because contractual obligations must be in writing and notarized. B. No, because the seller has not accepted the offer. C. Yes, because a definite and certain offer was made by the buyer. D. Yes, because both the seller and buyer offered to enter into a contract.

Correct Answer: B

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Question 2

A contract in which a licensee is employed by an owner to find a buyer for a 20-unit apartment building is most likely

A. a contract of sale. B. a property management contract. C. an option contract. D. a listing contract.

Correct Answer: D

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Question 3

A salesperson owns an apartment complex in Boston. The salesperson has decided to advertise the property for sale in a local newspaper and personally sell it. If the salesperson proceeds in this manner, the salesperson is

A. Not violating the law because the broker-salesperson distinction does not apply to commercial properties. B. Violating the law because the salesperson is not a broker and cannot advertise. C. Violating the law because a salesperson may not sell an income-producing property. D. Not violating the law because the salesperson has all the rights of a non-salesperson owner.

Correct Answer: D

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Question 4

What type of relationship does NOT require confidentiality?

A. Facilitator B. Seller agency C. Buyer agency D. Dual agency

Correct Answer: A

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Question 5

The two clauses in a mortgage which allow the lender to proceed with a foreclosure sale are which of the following?

A. escalation clause and power of sale clause B. acceleration clause and power of sale clause C. escalation clause and alienation clause D. foreclosure clause and alienation clause

Correct Answer: B

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Question 6

Broker N has five affiliated salespersons. On Monday at 10:00 a.m., Salesperson J submitted an offer to purchase from a prospective buyer. The offer price was $300,000. An hour later, Salesperson R submitted an offer of $296,000. However, Broker N held the second offer until the seller rejected the first offer. Broker N's conduct in this situation is

A. Permissible as long as both salespeople knew of Broker N's action. B. Not permissible because a broker must inform all potential buyers of existing offers. C. Permissible as long as both salespeople share a commission on either of the offers accepted by the seller. D. Not permissible because a broker must present all offers to the principal forthwith.

Correct Answer: D

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Question 7

A licensee whose license has been suspended is required to

A. Surrender the license to the Board of Registration. B. Do nothing; no action is required. C. Stop working, but may still make referrals. D. Appeal the decision within 14 days.

Correct Answer: A

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Question 8

A married couple owns property as tenants by the entirety. If they were to divorce, their ownership would be

A. Tenancy in severalty. B. Joint tenancy. C. Tenancy in common. D. Tenancy by the entirety.

Correct Answer: C

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Question 9

A couple enters into a purchase contract to buy a house, and their parents are providing a $5,000 earnest money check. The check is deposited in the listing broker's escrow account. The buyers are unable to get financing, and the contract provides for return of the earnest money to the buyers. The buyers and seller agree in writing to the release of the earnest money. The listing broker should

A. issue a $5,000 check to the buyers. B. return the earnest money check, minus expenses, to the parents. C. return the earnest money check, minus expenses, to the buyers. D. issue a $5,000 check to the parents.

Correct Answer: A

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Total 139 questions

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