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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

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

2. Which of the following will NOT be considered relevant if HUD investigates a prospective home buyer's allegation of discriminatory treatment by a licensee in a brokerage office?

A) whether or not the HUD Equal Housing Opportunity poster is displayed in the office
B) the reports of undercover testers who visited the office
C) whether the licensee believed they were acting in the best interests of the prospective buyer
D) records of the houses shown and properties suggested to the prospective buyer

3. A licensee whose license has been suspended is required to

A) Stop working, but may still make referrals.
B) Do nothing; no action is required.
C) Surrender the license to the Board of Registration.
D) Appeal the decision within 14 days.

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

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

5. Real estate taxes that are paid in advance are prorated on the closing statement as

A) no entry to buyer; a debit to seller.
B) a debit to buyer; a credit to seller.
C) no entry to buyer; a credit to seller.
D) a credit to buyer; a debit to seller.

Solutions: