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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around

A) $147,500
B) $128,500
C) $123,500
D) $148,500

2. A 2-year lease on a property has expired. The owner permits the tenant to remain in the house while a new lease is being negotiated. Which of the following types of interest does the tenant now have?

A) tenancy at will
B) tenancy in common
C) tenancy from year to year
D) tenancy at sufferance

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

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

4. 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) The original contract is still in effect.
D) There is no longer a valid contract.

5. When performing its duties, the Board of Registration protects and safeguards the interests of the

A) Governor's office.
B) Licensees.
C) General public.
D) State legislature.

Solutions: