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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. 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) home has a lake view.
B) seller needs to move soon.
C) seller does not like the next door neighbor.
D) home has a leaky roof in heavy rains.

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) Sherman Antitrust Act.
C) federal fair housing laws.
D) Equal Credit Opportunity Act.

3. An example of modular construction is

A) a home used as a model.
B) a log cabin.
C) an apartment building.
D) prefabricated housing.

4. A salesperson's client is the lessee. Who does the salesperson represent?

A) tenant
B) lien holder
C) landlord
D) lender

5. A seller wants $120,000 for a home and still owes $20,000 of the original loan at 7% interest. The current interest rate is 12%. A buyer can pay $60,000 down and wants to carry a mortgage that includes the seller's
$20,000 existing mortgage and the remaining $40,000 for a total of $60,000 at an interest rate of 10%. What kind of mortgage loan is this?

A) wraparound
B) buydown
C) blanket
D) equity

Solutions: