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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A broker has listed a property for $225,000. An offer of $210,000 contingent upon inspection comes in the first week and the seller accepts it. Another offer of $205,000 comes in the second week. The seller accepts it as a secondary offer contingent upon the termination of the first offer. The first offeror demands the seller spend $5,000 in repairs before going through with the purchase. The seller may do any of the following EXCEPT

A) agree to do the needed repairs and consummate the transaction with the first offeror.
B) ignore the demand and sell the property to the second offeror.
C) refuse to do the repairs and still proceed with the sale in as-is condition.
D) terminate the first agreement in writing and sell to the second offeror.

2. Which type of deed provides the purchaser of real estate the greatest protection?

A) trustee's deed
B) deed in trust
C) general warranty deed
D) quitclaim deed

3. A licensee lists a property and discovers that the property is too far away to market effectively. The licensee's firm retains the listing, but does not advertise or show it. Which of the following has been violated?

A) fiduciary responsibility
B) Consumer Protection Act
C) statute of frauds
D) seller disclosure laws

4. Which of the following are potential remedies for violating Massachusetts General Laws Chapter 93A?

A) Imprisonment
B) Double or triple damages, attorney's fees and court costs
C) 1 year probation
D) Fine of not more than $11,000

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

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

Solutions: