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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

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

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

2. A buyer wants to purchase a home for $275,000 with a 20% down payment. The lender charges 2.25 points.
How much money does the buyer need up front to make the purchase?

A) $55,000
B) $59,950
C) $61,188
D) $56,238

3. Quality Supermarkets has taken occupancy of a retail building and has a long-term lease. As part of their fit- up, they bolt to the floor their meat and dairy coolers, shelves, and check-out stands.
When Quality Supermarkets vacates the property at the end of the lease, will Quality Supermarkets be legally entitled to remove these fixtures?

A) Yes, if removed prior to the end of the lease.
B) No, because they are trade fixtures.
C) No, because they are bolted to the floor.
D) Yes, because they are appurtenances.

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

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

5. Which of the following statements about the leasing of apartments in Massachusetts is correct?

A) Interest on security deposits begins after the first year of tenancy.
B) Tenancies at will are enforceable under the law.
C) Leases terminate when the property is sold.
D) Death of the landlord terminates residential leases.

Solutions: