Real Estate Massachusetts Real Estate Salesperson - Massachusetts-Real-Estate-Salesperson

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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A) No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.
B) No, because as an integrated club, they could discriminate on the basis of race in renting facilities.
C) Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.
D) Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.

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

3. A couple enters into a purchase contract to buy a house, and their parents are providing a $5,000 earnest money check. The check is deposited in the listing broker's escrow account. The buyers are unable to get financing, and the contract provides for return of the earnest money to the buyers. The buyers and seller agree in writing to the release of the earnest money. The listing broker should

A) return the earnest money check, minus expenses, to the parents.
B) return the earnest money check, minus expenses, to the buyers.
C) issue a $5,000 check to the parents.
D) issue a $5,000 check to the buyers.

4. Which of the following is used in the cost approach when estimating the value of improvements?

A) How much it would cost to build a similar building at today's cost.
B) The assessed value of the property including the land.
C) The price per square foot of comparable properties.
D) Location, available financing, and depreciation.

5. The Massachusetts State Sanitary Code requires

A) Tenants to pay for their own water and/or sewer costs.
B) A stove in good repair in any rental unit.
C) Separate meters for all heating and electric systems.
D) The property owner to provide a refrigerator in working order.

Solutions: