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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Deposit money received by a salesperson must be turned over to the salesperson's broker

A) Immediately.
B) At the date specified in the offer to purchase.
C) Within three days.
D) At the signing of the purchase and sale agreement.

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

3. A buyer files a complaint against a licensee with the Massachusetts Commission Against Discrimination (MCAD). MCAD denies the complaint because the buyer filed it too long after the discriminatory incident occurred. Within how many days after the alleged incident must a complaint be filed to be considered?

A) 300
B) 200
C) 150
D) 365

4. A building was purchased for $350,000 with a 20% down payment. If the lender charged the buyer three discount points, how much will the buyer need to close?

A) $80,500
B) $360,500
C) $61,600
D) $78,400

5. A licensee must provide disclosure of licensed status when acting as a principal if

A) the licensee has any economic interest in the property.
B) the licensee does not have errors and omission insurance.
C) any relative of the licensee has ever lived in the residence.
D) the agent of the other party asks about this specifically.

Solutions: