Massachusetts-Real-Estate-Salesperson by Real Estate Actual Free Exam Questions And Answers

Question 1

Real Estate Mortgage Investment Conduits (REMICs) principally hold or invest in:

A. Individual undeveloped land parcels

B. Brokerage offices

C. Portfolios of physical apartment buildings

D. Pools or portfolios of mortgages secured by real estate

Discussion 0

Correct Answer: D Vote an answer

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Question 2

A buyer and seller have signed a binding purchase-and-sale agreement, but closing has not yet taken place.
How is the contract classified?

A. Non-recourse

B. Executed

C. Nonbinding

D. Executory

Discussion 0

Correct Answer: D Vote an answer

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Question 3

A seller lists the same property nonexclusively with several brokers and agrees to compensate only the broker who successfully procures the buyer. What type of listing is this?

A. Exclusive-agency listing

B. Open listing

C. Net listing

D. Exclusive-right-to-sell listing

Discussion 0

Correct Answer: B Vote an answer

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Question 4

In which residential ownership form does the occupant typically receive shares of stock together with a proprietary lease rather than a deed to the individual apartment?

A. Cooperative

B. Fee-simple subdivision

C. Life estate

D. Condominium

Discussion 0

Correct Answer: A Vote an answer

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Question 5

Which process can convert an item that is part of real property into personal property?

A. Annexation

B. Severance

C. Fiduciary relationship

D. Hypothecation

Discussion 0

Correct Answer: B Vote an answer

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Question 6

Which practice commonly results from blockbusting?

A. Panic peddling

B. Trust busting

C. Redlining

D. Blind advertising

Discussion 0

Correct Answer: A Vote an answer

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Question 7

A home warranty for a previously owned home would usually cover which of the following items?

A. major appliances and home systems such as electric, heating, and plumbing

B. only home systems such as the roof, plumbing, and foundation

C. major appliances, the buyer ' s personal property, and any seller added fixtures

D. structure or flooding issues after closing

Discussion 0

Correct Answer: A Vote an answer

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Question 8

Before a Massachusetts consumer ordinarily files a Chapter 93A consumer claim alleging unfair or deceptive business conduct, what document must generally be sent to the business?

A. Mortgage commitment

B. Lis pendens

C. Ten-day eviction notice

D. Thirty-day demand letter

Discussion 0

Correct Answer: D Vote an answer

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Question 9

A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A. Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.

B. No, because as an integrated club, they could discriminate on the basis of race in renting facilities.

C. Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.

D. No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.

Discussion 0

Correct Answer: A Vote an answer

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Question 10

The listing broker has been presented with multiple offers. The seller would accept only a cash offer on the home, so the broker will present

A. the highest cash offer to the seller.

B. all offers to the seller.

C. only cash offers to the seller.

D. the highest offer to the seller.

Discussion 0

Correct Answer: B Vote an answer

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Real Estate Massachusetts Real Estate Salesperson - Massachusetts-Real-Estate-Salesperson Exam Practice Test

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