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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A person acquires an option to purchase a parcel of another person's land. Which of the following statements is correct?

A) The terms and conditions of the sale must be stated if the option is to be a valid contract.
B) The consideration for the option right, plus interest, will be automatically applied to the purchase price if the option is exercised.
C) The potential buyer is the optionor and the seller is the optionee.
D) An option is a promise by the optionee to enter into a contract in the future.

2. Which of the following groups are protected under the Massachusetts Fair Housing Laws?

A) Students
B) Sex offenders
C) Public assistance recipients
D) Smokers

3. Which of the following is true of a quitclaim deed?

A) It can be used to remove a cloud on a title.
B) It cannot be recorded.
C) It has warranties similar to a special warranty deed.
D) It cannot be used to transfer a title held in fee simple.

4. 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) representing a first time home buyer.
C) listing commercial income property.
D) representing an owner who wants to sell raw land to a developer.

5. A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker's right to be compensated and to work with other clients, this means that during the term of this agreement, the broker

A) is entitled to compensation even if the buyer purchases a property that they locate.
B) may not show a property to other buyers until the buyer decides if they want to make an offer.
C) must be compensated by the seller.
D) is only due compensation if the buyer purchases one of the broker's listings.

Solutions: