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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: National Real Estate Principles & Practices | - Land Use Controls & Regulations
|
| Topic 2: Massachusetts State-Specific Real Estate Law | - Real Estate Practices in Massachusetts
|
Real Estate Massachusetts Real Estate Salesperson Sample Questions:
A single homeowner bought a principal residence for $177,800 and later sells it for $306,100 after owning and occupying it as the main home for at least two of the five years preceding the sale. Ignoring basis adjustments and assuming all eligibility requirements are satisfied, how much of the $128,300 gain is taxable under the federal home-sale exclusion?
- A. $0
- B. $128,300
- C. $78,300
- D. $64,150
Correct Answer: A 🗳️
Explanation: Only visible for VCEDumps members. You can sign-up / login (it's free).
A buyer receives a seller's property condition disclosure in which the buyer's agent believes the seller has misrepresented the condition of the property. The buyer's agent should
- A. remain silent as the agent does not know for certain that the seller has misrepresented the property.
- B. recommend that the buyer withdraw from the transaction.
- C. call the listing agent and express this concern.
- D. point out this concern to the buyer and recommend further inspection or investigation before proceeding.
Correct Answer: D 🗳️
Explanation: Only visible for VCEDumps members. You can sign-up / login (it's free).
A residence has severely outdated plumbing and an obsolete floor plan that reduce its market appeal. What type of depreciation does this represent?
- A. External obsolescence
- B. Appreciation
- C. Physical deterioration only
- D. Functional obsolescence
Correct Answer: D 🗳️
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Under Massachusetts law effective in 2026, what is the standard declared homestead exemption available through a properly recorded declaration for a qualifying principal residence?
- A. $500,000
- B. $250,000
- C. $1,000,000
- D. $125,000
Correct Answer: C 🗳️
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A homebuyer obtains a qualifying FHA mortgage through an approved private lender. What is FHA ' s principal role?
- A. FHA insures the qualifying mortgage loan
- B. FHA acts as the buyer ' s real estate broker
- C. FHA guarantees that the property will increase in value
- D. FHA purchases the property for the borrower
Correct Answer: A 🗳️
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