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Real Estate Massachusetts Real Estate Salesperson Sample Questions:
1. Which of the following is true about mortgage assumptions?
A) The buyer is relieved of personal liability.
B) The mortgagee automatically releases the seller upon receipt of a warranty deed.
C) The buyer is required to sign a new mortgage note.
D) The seller may or may not be released from liability.
2. A broker lists a property abutting a pond. A potential buyer is interested in the property but plans to build an addition onto a boathouse. The buyer will need
A) Approval from the local conservation commission.
B) A letter of interim control.
C) A certificate of compliance.
D) Approval from the State Sanitary Commission.
3. An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that the owner would NOT sell the property. A lawsuit filed by the buyers would be for
A) quiet title action.
B) a deficiency judgment.
C) specific performance.
D) lis pendens.
4. A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?
A) $1,260
B) $231
C) $1,386
D) $693
5. Inactive salespersons are permitted to perform which of the following activities?
A) Refer potential listings to an active broker in exchange for a fee from the active broker.
B) List homes by telephone.
C) Affiliate with inactive brokers.
D) Refer potential buyers to an active salesperson in exchange for a fee from the salesperson.
Solutions:
Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: A |