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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are

A) fulfilled.
B) voidable.
C) executed.
D) executory.

2. The Massachusetts State Sanitary Code requires

A) The property owner to provide a refrigerator in working order.
B) A stove in good repair in any rental unit.
C) Tenants to pay for their own water and/or sewer costs.
D) Separate meters for all heating and electric systems.

3. A buyer is purchasing a $625,000 property. The lender requires a 20% down payment to avoid mortgage insurance. The buyer provided $5,000 in earnest money. The buyer closing costs are $13,000. What is the amount the buyer must bring to settlement to close the transaction?

A) $138,000
B) $133,000
C) $143,000
D) $120,000

4. If a lender has granted a VA-guaranteed loan to a veteran, the veteran

A) makes the down payment directly to the VA.
B) cannot prepay any of the principal amount of the loan.
C) may sell the property to another veteran who assumes the loan.
D) cannot apply for another VA loan in the veteran's lifetime.

5. A tenant in a building that is being converted to condominiums is required to receive an opportunity to purchase the unit the tenant occupies at terms

A) 15% less than that offered to the general public.
B) 20% less than that offered to the general public.
C) At a monthly payment equal to the tenant's current monthly rent.
D) Equal to or better than that offered to the general public.

Solutions: