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Free Massachusetts Real Estate Salesperson Exam Practice Questions

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Total Questions : 350

Start with our free Massachusetts-Real-Estate-Salesperson practice questions, carefully crafted to mirror the domains, phrasing, and difficulty of the real Massachusetts Real Estate exam. Each Massachusetts-Real-Estate-Salesperson exam question comes with a detailed rationale that explains not just which answer is correct but why the others fall short. That's how concepts stick. Use the free set to benchmark yourself: identify your Real Estate weak domains, see where you're losing marks, and build a focused study plan in minutes.

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Question # 1

What does the acronym PETE represent in relation to governmental powers affecting private real estate?

Options:

A.  

Possession, Easement, Title, Encroachment

B.  

Police power, Eminent domain, Taxation, Escheat

C.  

Partition, Estate, Tenancy, Easement

D.  

Police power, Equity, Title, Eminent domain

Discussion 0
Question # 2

The purpose of Regulation Z is to

Options:

A.  

control the use of credit.

B.  

regulate interest charges.

C.  

set maximum interest charges.

D.  

inform the borrower of credit costs.

Discussion 0
Question # 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

Options:

A.  

suing the seller for specific performance.

B.  

filing a complaint with the Real Estate Commission.

C.  

canceling the contract and recovering the earnest money.

D.  

bringing an action against the seller for payment of compensatory damages.

Discussion 0
Question # 4

Which ownership arrangement is most directly characterized as ownership or use allocated according to periods of time?

Options:

A.  

Timeshare

B.  

Interest for years

C.  

Estate for years

D.  

Ordinary non-freehold tenancy

Discussion 0
Question # 5

An income-producing property generates $72,000 annually and has $60,000 of applicable annual expenses. If an 8% capitalization rate is appropriate, what is its indicated value?

Options:

A.  

$96,000

B.  

$120,000

C.  

$150,000

D.  

$900,000

Discussion 0
Question # 6

An appraisal made by a certified appraiser is required

Options:

A.  

before real property can transfer from one owner to another.

B.  

when heirs receive property.

C.  

when the buyer is using an FHA loan to purchase.

D.  

before any property settlement in a divorce.

Discussion 0
Question # 7

In a jurisdiction where a seller ' s property condition disclosure is required, the licensee is responsible for

Options:

A.  

completing the property condition disclosure.

B.  

ensuring that the seller complete the property condition disclosure before closing.

C.  

ensuring that the buyer receives the property disclosure before the contract is finalized.

D.  

checking the disclosure for accuracy and ensuring that the buyer receives it before closing.

Discussion 0
Question # 8

What is the function of a promissory note or bond when used in conjunction with a mortgage?

Options:

A.  

It furnishes a complete legal description of the property.

B.  

It makes the borrower personally obligated to pay the debt.

C.  

It provides the elements necessary to make the mortgage valid.

D.  

In case of default, it limits the lender ' s rights to interest only.

Discussion 0
Question # 9

A buyer ' s earnest-money check has been deposited into the broker ' s escrow account while the transaction remains pending. Which statement best describes the money?

Options:

A.  

It becomes the broker ' s money immediately

B.  

It is held in trust/escrow pending proper disposition under the transaction

C.  

It automatically belongs to the seller once deposited

D.  

It automatically belongs to the salesperson who obtained the offer

Discussion 0
Question # 10

Which of the following agreements may, as a general Massachusetts rule, be enforceable even though made orally?

Options:

A.  

A twenty-year lease

B.  

A real-estate listing agreement

C.  

A completed contract for the sale of land with no written memorandum

D.  

A purchase-and-sale agreement for real property with no signed writing

Discussion 0

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