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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. The two clauses in a mortgage which allow the lender to proceed with a foreclosure sale are which of the following?

A) escalation clause and alienation clause
B) escalation clause and power of sale clause
C) foreclosure clause and alienation clause
D) acceleration clause and power of sale clause

2. A broker has been engaged to locate a property for a buyer. The broker has determined that a suitable property for the buyer is for sale and is owned by the broker's cousin. The broker has not informed the buyer of the broker's relationship with the owner. If the buyer purchases the property under these circumstances, the broker is

A) Violating the license law because a relative's interest shall be made known to all parties.
B) Not violating the license law because the broker in this situation has no duty of disclosure.
C) Not violating the license law because a relative's interest is an exception to the fiduciary duty rule.
D) Violating the license law because it is illegal to purchase family property for a principal.

3. Standard title insurance would protect a buyer

A) for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.
B) when the seller has forged an ex-partner's signature on the deed.
C) in a purchase where the buyer had knowledge of a shed violating setback requirements.
D) if after closing, the HOA placed a lien on the property for the previous owner's unpaid dues.

4. A subordination agreement is used to

A) assign rents to the lender in case of borrower default.
B) pledge property for a loan without giving up possession.
C) initiate foreclosure proceedings.
D) change the priority of mortgages.

5. A buyer and seller agreed upon a selling price for a property and both signed a written agreement. As part of the contract, the buyer reserved the right to cancel the sale if the buyer's house, which was on the market, did not sell within 30 days. This contract is

A) an executed contract.
B) a unilateral contract.
C) an implied contract.
D) an executory contract.

Solutions: