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

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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. An offer of $569,000 is verbally accepted by a seller. Two hours later an offer of $589,000 is presented to the seller, which the seller accepts in writing. Based on the above situation the first buyer is

A) Not entitled to the status as a backup offer.
B) Not entitled to purchase the property.
C) Entitled to purchase the property.
D) Entitled to an additional offer.

2. What type of relationship does NOT require confidentiality?

A) Facilitator
B) Buyer agency
C) Seller agency
D) Dual agency

3. A broker has listed a property for $225,000. An offer of $210,000 contingent upon inspection comes in the first week and the seller accepts it. Another offer of $205,000 comes in the second week. The seller accepts it as a secondary offer contingent upon the termination of the first offer. The first offeror demands the seller spend $5,000 in repairs before going through with the purchase. The seller may do any of the following EXCEPT

A) refuse to do the repairs and still proceed with the sale in as-is condition.
B) terminate the first agreement in writing and sell to the second offeror.
C) agree to do the needed repairs and consummate the transaction with the first offeror.
D) ignore the demand and sell the property to the second offeror.

4. A first-year licensee without either a degree in finance, or a strong background in real estate investment should generally refrain from

A) representing an owner who wants to sell raw land to a developer.
B) listing commercial income property.
C) representing a first time home buyer.
D) acting as the seller's agent in selling an oceanfront lot to a retiree.

5. The two clauses in a mortgage which allow the lender to proceed with a foreclosure sale are which of the following?

A) acceleration clause and power of sale clause
B) escalation clause and alienation clause
C) foreclosure clause and alienation clause
D) escalation clause and power of sale clause

Solutions: