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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A tenant in a building that is being converted to condominiums is required to receive an opportunity to purchase the unit the tenant occupies at terms

A) 20% less than that offered to the general public.
B) Equal to or better than that offered to the general public.
C) 15% less than that offered to the general public.
D) At a monthly payment equal to the tenant's current monthly rent.

2. Which of the following assurances is provided to home buyers who purchase a $75,000 property with an FHA- insured mortgage?

A) The neighborhood values will increase.
B) The property has been appraised for value.
C) The property is not subject to eminent domain.
D) A down payment is not required.

3. A seller wants $120,000 for a home and still owes $20,000 of the original loan at 7% interest. The current interest rate is 12%. A buyer can pay $60,000 down and wants to carry a mortgage that includes the seller's
$20,000 existing mortgage and the remaining $40,000 for a total of $60,000 at an interest rate of 10%. What kind of mortgage loan is this?

A) blanket
B) equity
C) buydown
D) wraparound

4. A home warranty for a previously owned home would usually cover which of the following items?

A) major appliances, the buyer's personal property, and any seller added fixtures
B) only home systems such as the roof, plumbing, and foundation
C) structure or flooding issues after closing
D) major appliances and home systems such as electric, heating, and plumbing

5. Based on the common law of agency, which of the following would always be an agent's duty?

A) placing the interests of the principal above all others, including the agent's own interests
B) disclosing that the reason a client is selling is an impending divorce
C) analyzing the preliminary title report and advising the buyer regarding exceptions listed
D) hiring a contractor to repair a listing with a leaky roof

Solutions: