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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Which of the following is true about mortgage assumptions?

A) The buyer is relieved of personal liability.
B) The seller may or may not be released from liability.
C) The mortgagee automatically releases the seller upon receipt of a warranty deed.
D) The buyer is required to sign a new mortgage note.

2. The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are

A) voidable.
B) executed.
C) fulfilled.
D) executory.

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

4. 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 buyers.
D) issue a $5,000 check to the parents.

5. The Massachusetts Sanitary Code requires landlords to

A) Maintain their properties in a safe and habitable condition.
B) Provide a statement of condition within 30 days of the lease.
C) Inspect the property every six months.
D) Notify a tenant 24 hours prior to entering a property.

Solutions: