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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A prescriptive easement is proven by a

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

2. A veteran has applied for a VA loan to purchase a house with a sale price of $90,000. The Department of Veterans Affairs (VA) appraised the house at $85,000. In this situation, the veteran

A) may buy the property with the VA loan only if the seller agrees to take back a second mortgage for
$5,000.
B) may use the VA loan to buy the house after making a down payment of $5,000.
C) may buy the property with the VA loan only if the price is reduced to $85,000.
D) cannot secure a VA loan because such loans are limited to a maximum of $75,000.

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

4. A first-year licensee without either a degree in finance, or a strong background in real estate investment should generally refrain from

A) representing an owner who wants to sell raw land to a developer.
B) representing a first time home buyer.
C) acting as the seller's agent in selling an oceanfront lot to a retiree.
D) listing commercial income property.

5. The Massachusetts Consumer Protection Act requires that

A) The seller disclose all offers received.
B) The seller's information be kept confidential.
C) The broker disclose known material defects.
D) The buyer be informed of all offers.

Solutions: