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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

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

2. 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) major appliances and home systems such as electric, heating, and plumbing
C) only home systems such as the roof, plumbing, and foundation
D) structure or flooding issues after closing

3. A licensee lists a property and discovers that the property is too far away to market effectively. The licensee's firm retains the listing, but does not advertise or show it. Which of the following has been violated?

A) statute of frauds
B) fiduciary responsibility
C) Consumer Protection Act
D) seller disclosure laws

4. A broker may withdraw money from the broker's escrow account

A) To cover the broker's commission.
B) When ordered by the seller's attorney.
C) To pay for advertising expenses related to the sale.
D) When the transaction has been consummated.

5. Standard title insurance would protect a buyer

A) if after closing, the HOA placed a lien on the property for the previous owner's unpaid dues.
B) for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.
C) when the seller has forged an ex-partner's signature on the deed.
D) in a purchase where the buyer had knowledge of a shed violating setback requirements.

Solutions: