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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A tenant in a building that is being converted to condominiums is required to receive an opportunity to purchase the unit the tenant occupies at terms

A) 15% less than that offered to the general public.
B) 20% less than that offered to the general public.
C) Equal to or better than that offered to the general public.
D) At a monthly payment equal to the tenant's current monthly rent.

2. An offer of $569,000 is verbally accepted by a seller. Two hours later an offer of $589,000 is presented to the seller, which the seller accepts in writing. Based on the above situation the first buyer is

A) Not entitled to the status as a backup offer.
B) Entitled to an additional offer.
C) Not entitled to purchase the property.
D) Entitled to purchase the property.

3. If a seller defaults in performance of a contract, any of the following actions would be likely to help the buyer recover any losses EXCEPT

A) bringing an action against the seller for payment of compensatory damages.
B) filing a complaint with the Real Estate Commission.
C) canceling the contract and recovering the earnest money.
D) suing the seller for specific performance.

4. Which of the following is incorrect regarding carbon monoxide inspection?

A) The inspection must be completed as a prerequisite to sell a residential property burning fossil fuel.
B) There is no additional fee if the inspection is done at the same time as the smoke detector inspection.
C) The inspection must be completed by a building inspector.
D) The inspection must be completed by the local fire department.

5. Which of the following assurances is provided to home buyers who purchase a $75,000 property with an FHA- insured mortgage?

A) The property has been appraised for value.
B) A down payment is not required.
C) The neighborhood values will increase.
D) The property is not subject to eminent domain.

Solutions: