Real Estate Massachusetts-Real-Estate-Salesperson

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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. 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.

2. In a jurisdiction where a seller's property condition disclosure is required, the licensee is responsible for

A) ensuring that the seller complete the property condition disclosure before closing.
B) completing the property condition disclosure.
C) checking the disclosure for accuracy and ensuring that the buyer receives it before closing.
D) ensuring that the buyer receives the property disclosure before the contract is finalized.

3. The broker has a single agency relationship with the seller. The broker will show the property to a buyer who is a customer. The broker must disclose that the

A) home has a lake view.
B) home has a leaky roof in heavy rains.
C) seller needs to move soon.
D) seller does not like the next door neighbor.

4. What is the function of a promissory note or bond when used in conjunction with a mortgage?

A) It furnishes a complete legal description of the property.
B) It provides the elements necessary to make the mortgage valid.
C) It makes the borrower personally obligated to pay the debt.
D) In case of default, it limits the lender's rights to interest only.

5. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) exclusive right to sell
B) nonexclusive buyer-agency
C) exclusive agency representation
D) nonexclusive right-to-lease

Solutions: