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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. What kind of lease would require the lessee to pay the taxes, insurance, repairs, and other operating expenses of the premises in addition to the regular rental payment?

A) percentage lease
B) net lease
C) gross lease
D) graduated lease

2. When lending standards are tightened, lenders typically require

A) a lower loan-to-value ratio.
B) a waiver of the Equal Credit Opportunity Act.
C) a balloon payment after 5 years.
D) a higher loan-to-value ratio.

3. What is the difference between a license to use property and an easement?

A) There must be consideration paid for a license.
B) An easement can be cancelled by the issuer.
C) A license can be cancelled by the issuer.
D) There must be consideration paid for an easement.

4. A licensee listed a property that had an unfinished garage. The licensee received an offer subject to the garage being finished. Was a contractual obligation created?

A) No, because the seller has not accepted the offer.
B) No, because contractual obligations must be in writing and notarized.
C) Yes, because a definite and certain offer was made by the buyer.
D) Yes, because both the seller and buyer offered to enter into a contract.

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

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

Solutions: