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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

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

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

2. A broker may withdraw money from the broker's escrow account

A) When ordered by the seller's attorney.
B) To cover the broker's commission.
C) To pay for advertising expenses related to the sale.
D) When the transaction has been consummated.

3. 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) $128,500
B) $123,500
C) $148,500
D) $147,500

4. A broker maintains a trust or escrow account. A $10,000 earnest money deposit is received from a buyer and deposited in the account. Several weeks later and prior to closing, the broker withdraws $7,000 from the account and puts it in an operating account. This transaction is

A) a violation of federal banking regulations.
B) permissible if the seller was informed about the transfer of funds.
C) an instance of illegal conversion of funds.
D) permissible as long as the broker is entitled to at least $7,000 in commission.

5. The need to protect the public's health and safety against poor construction practices has resulted in the enactment of

A) building codes.
B) zoning ordinances.
C) restrictive deed conditions.
D) zoning committees.

Solutions: