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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around

A) $148,500
B) $147,500
C) $128,500
D) $123,500

2. A buyer wants to purchase a home for $275,000 with a 20% down payment. The lender charges 2.25 points.
How much money does the buyer need up front to make the purchase?

A) $59,950
B) $61,188
C) $55,000
D) $56,238

3. 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.

4. When a licensee is hired to find a tenant for a summer vacation home on Cape Cod built in 1950, for a period of two weeks,

A) The Massachusetts Fair Housing Law does not apply.
B) An unlicensed assistant may handle the transaction.
C) The Massachusetts Lead Law is not applicable.
D) There is no limit on the amount of the security deposit.

5. Based on the common law of agency, which of the following would always be an agent's duty?

A) analyzing the preliminary title report and advising the buyer regarding exceptions listed
B) disclosing that the reason a client is selling is an impending divorce
C) hiring a contractor to repair a listing with a leaky roof
D) placing the interests of the principal above all others, including the agent's own interests

Solutions: