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

SectionObjectives
Topic 1: National Real Estate Principles & Practices- Financing
  • 1. Loan origination process
    • 2. Mortgage types
      - Valuation and Market Analysis
      • 1. Appraisal principles
        • 2. Comparative market analysis
          - Agency Principles
          • 1. Disclosure requirements
            • 2. Fiduciary duties
              - Land Use Controls & Regulations
              • 1. Environmental regulations
                • 2. Zoning laws
                  - Contracts
                  • 1. Listing agreements
                    • 2. Purchase and sale agreements
                      - Property Ownership
                      • 1. Land use and regulations
                        • 2. Types of ownership (fee simple, leasehold)
                          Topic 2: Massachusetts State-Specific Real Estate Law- Real Estate Practices in Massachusetts
                          • 1. Escrow and trust accounts
                            • 2. Transaction procedures
                              - Fair Housing and Anti-Discrimination Laws
                              • 1. Massachusetts fair housing rules
                                • 2. Federal Fair Housing Act
                                  - State Licensing Laws
                                  • 1. Broker and salesperson requirements
                                    • 2. License law and regulations

                                      Real Estate Massachusetts Real Estate Salesperson Sample Questions:

                                      Question #1

                                      A Massachusetts condominium unit is being sold. Which document is commonly required at closing to establish whether condominium common-expense charges are outstanding?

                                      • A. Homestead declaration
                                      • B. Mortgage commitment
                                      • C. 6(d) certificate
                                      • D. Title 5 report
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for BraindumpQuiz members. You can sign-up / login (it's free).

                                      Question #2

                                      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. seller needs to move soon.
                                      • B. seller does not like the next door neighbor.
                                      • C. home has a lake view.
                                      • D. home has a leaky roof in heavy rains.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for BraindumpQuiz members. You can sign-up / login (it's free).

                                      Question #3

                                      Which of the following is true about a competitive market analysis?

                                      • A. It is useful to the buyer as well as to the seller.
                                      • B. It is employed for insurance purposes.
                                      • C. It is used to establish depreciable value.
                                      • D. It is usually based on local tax assessment.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: A  🗳️

                                      Explanation: Only visible for BraindumpQuiz members. You can sign-up / login (it's free).

                                      Question #4

                                      Shelly employs Janice, who does not hold a Massachusetts real estate license. Janice telephones homeowners to solicit potential listings and is paid $100 for every owner who becomes a brokerage lead. Which statement is correct?

                                      • A. It is permitted if Janice never enters the listed properties
                                      • B. This is permitted because Janice does not attend the closing
                                      • C. The arrangement violates licensing requirements because Janice is being compensated for prospecting activity requiring a license
                                      • D. It is permitted if every call lasts less than five minutes
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for BraindumpQuiz members. You can sign-up / login (it's free).

                                      Question #5

                                      A buyer ' s earnest-money check has been deposited into the broker ' s escrow account while the transaction remains pending. Which statement best describes the money?

                                      • A. It is held in trust/escrow pending proper disposition under the transaction
                                      • B. It automatically belongs to the seller once deposited
                                      • C. It automatically belongs to the salesperson who obtained the offer
                                      • D. It becomes the broker ' s money immediately
                                      Reveal Solution  Discussion  0

                                      Correct Answer: A  🗳️

                                      Explanation: Only visible for BraindumpQuiz members. You can sign-up / login (it's free).

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