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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Licensee A and Licensee B work for a principal broker for ABC Realty. For Licensee A, the principal broker supervises the work as a listing/buyer's agent, collects commissions, and pays out based on their commission split agreement. Licensee A works from home and attends training meetings at the office. Licensee B works 8 a.m. to 4 p.m. in the ABC Realty office for relocations, showing local properties to relocating clients.
Licensee B is licensed to show homes and submits offers for purchase from individuals who are relocating but is paid by salary based on hours worked, with a bonus for production. What are Licensee A and B's relationships with ABC Realty?

A) Licensee A and Licensee B are both contractors.
B) Licensee A is an employee and Licensee B is a contractor.
C) Licensee A is a contractor and Licensee B is an employee.
D) Licensee A and Licensee B are both employees.

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

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

3. A buyer and a seller have a purchase agreement that contains a home inspection contingency. The buyer has applied for a VA mortgage. After the home inspection is completed, the buyer writes an addendum requesting that the seller pay to repair several items found by the home inspector. The seller counters the addendum by requiring that the buyer agree that the repairs will be made, but that no further expenses will be incurred by the seller. The VA appraisal inspection has not been conducted. Under these circumstances, which of the following is correct?

A) The licensee should encourage the seller to place the home back on the market.
B) The VA inspection is not necessary because the buyer's home inspection report will be sent to the mortgage company.
C) There is no longer a valid contract.
D) The original contract is still in effect.

4. An offer of $569,000 is verbally accepted by a seller. Two hours later an offer of $589,000 is presented to the seller, which the seller accepts in writing. Based on the above situation the first buyer is

A) Entitled to purchase the property.
B) Entitled to an additional offer.
C) Not entitled to purchase the property.
D) Not entitled to the status as a backup offer.

5. A seller informs the listing broker that the wind chime on the back door is broken and the roof leaks when it rains. The listing broker is required to disclose

A) The wind chime.
B) The leaky roof.
C) Nothing.
D) Both the wind chime and the leaky roof.

Solutions: