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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. On which of the following must the landlord pay interest when collecting first month, last month, and security deposit?

A) Only if they are deposited in an interest-bearing account
B) Security deposit and last month
C) Last month only
D) First month only

2. A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when

A) it is in the best interest of the client.
B) the licensee discloses the interest in the company to the client.
C) the licensee does not know any of the other title companies in the area.
D) the client does not ask for other recommendations.

3. A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?

A) $1,260
B) $1,386
C) $231
D) $693

4. The Massachusetts State Sanitary Code requires

A) The property owner to provide a refrigerator in working order.
B) A stove in good repair in any rental unit.
C) Tenants to pay for their own water and/or sewer costs.
D) Separate meters for all heating and electric systems.

5. When lending standards are tightened, lenders typically require

A) a lower loan-to-value ratio.
B) a higher loan-to-value ratio.
C) a waiver of the Equal Credit Opportunity Act.
D) a balloon payment after 5 years.

Solutions: