Real Estate Massachusetts-Real-Estate-Salesperson : Massachusetts Real Estate Salesperson Exam

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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. The Massachusetts Consumer Protection Act (M.G.L. c. 93A) does NOT apply to which of the following persons?

A) Owners who sell their homes privately
B) Listing brokers who receive only a percentage of commissions
C) Builders who sell fewer than ten homes a year
D) Salespersons since they are obligated to their employing brokers only

2. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase which is 20% less than the list price. Which of the following is appropriate?

A) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
B) The seller is under no obligation to accept the offer or make a counteroffer.
C) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
D) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.

3. 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) The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.
B) 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.
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) 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.

4. If owners ask a broker not to show a property to recipients of government assistance, the broker must

A) Inform the Board of Registration.
B) Refuse the listing.
C) Accept the listing.
D) Inform the Massachusetts Commission Against Discrimination.

5. Licensee A and Licensee B work for a principal broker for ABC Realty. For Licensee A, the principal broker supervises the work as a listing/buyer's agent, collects commissions, and pays out based on their commission split agreement. Licensee A works from home and attends training meetings at the office. Licensee B works 8 a.m. to 4 p.m. in the ABC Realty office for relocations, showing local properties to relocating clients.
Licensee B is licensed to show homes and submits offers for purchase from individuals who are relocating but is paid by salary based on hours worked, with a bonus for production. What are Licensee A and B's relationships with ABC Realty?

A) Licensee A is a contractor and Licensee B is an employee.
B) Licensee A is an employee and Licensee B is a contractor.
C) Licensee A and Licensee B are both contractors.
D) Licensee A and Licensee B are both employees.

Solutions: