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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker's right to be compensated and to work with other clients, this means that during the term of this agreement, the broker

A) must be compensated by the seller.
B) is entitled to compensation even if the buyer purchases a property that they locate.
C) is only due compensation if the buyer purchases one of the broker's listings.
D) may not show a property to other buyers until the buyer decides if they want to make an offer.

2. Multi-ethnic families were beginning to move into a neighborhood that had previously been all one ethnicity.
A local broker passed out flyers to homeowners that said, "Sell now before it's too late! We have beautiful new homes with attractive financing and good schools." These flyers would likely be viewed by the courts as

A) blockbusting.
B) good marketing.
C) redlining.
D) steering.

3. Which of the following assurances is provided to home buyers who purchase a $75,000 property with an FHA- insured mortgage?

A) The property has been appraised for value.
B) A down payment is not required.
C) The neighborhood values will increase.
D) The property is not subject to eminent domain.

4. Time is of the essence means

A) the closing must occur as soon as possible.
B) time limits set forth in the contract must be carefully observed.
C) time limits stated in the contract may not be modified, even by mutual agreement of the parties.
D) every act under the contract must be performed on the exact date specified.

5. What is the difference between a license to use property and an easement?

A) There must be consideration paid for a license.
B) A license can be cancelled by the issuer.
C) An easement can be cancelled by the issuer.
D) There must be consideration paid for an easement.

Solutions: