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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Which of the following property valuation estimates or reports would have to be prepared by a licensed or certified appraiser?

A) a comparative market analysis
B) a reconciliation report for an FHA loan
C) a value analysis for a non-residential property valued below $250,000
D) a broker's price opinion

2. Two top licensees in a small town have agreed not to show listings of a new real estate firm charging a low commission rate to sellers. This behavior is a violation of the

A) Blue-Sky laws.
B) Equal Credit Opportunity Act.
C) Sherman Antitrust Act.
D) federal fair housing laws.

3. A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A) All three of the offers
B) The offer with the highest sale price
C) The offer most favorable to the seller, including price and all terms
D) The first offer received

4. Which of the following is among the typical responsibilities of a residential property manager?

A) making decisions about structural changes that will enhance the property value
B) selecting tenants to provide a diverse environment
C) negotiating leases between the property owner and potential tenants
D) requesting that the tenant's employer withhold the past due rent from wages

5. Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?

A) Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.
B) Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.
C) The buyer's broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.
D) The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.

Solutions: