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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Massachusetts State-Specific Real Estate Law | - Real Estate Practices in Massachusetts
|
| National Real Estate Principles & Practices | - Land Use Controls & Regulations
|
Real Estate Massachusetts Real Estate Salesperson Sample Questions:
1. Which of the following best completes the following metes and bounds description? "Beginning at the intersection of Bunker Hill Road and Munson Avenue, thence 150 feet south; thence 85 feet west; thence 150 feet north; thence"
A) 85 feet west to the Point of Beginning.
B) 150 feet south to the Point of Beginning.
C) 85 feet east to the Point of Beginning.
D) 150 feet west to the Point of Beginning.
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 higher loan-to-value ratio.
D) a balloon payment after 5 years.
3. The Massachusetts Consumer Protection Act (M.G.L. c. 93A)
A) Protects homeowners who sell their homes without a broker.
B) Prohibits use of unfair and deceptive practices in business.
C) Protects tenants from personal property disputes.
D) Prohibits use of only deceptive practices in landlord-tenant law.
4. What is the function of a promissory note or bond when used in conjunction with a mortgage?
A) It provides the elements necessary to make the mortgage valid.
B) It makes the borrower personally obligated to pay the debt.
C) It furnishes a complete legal description of the property.
D) In case of default, it limits the lender's rights to interest only.
5. A buyer is purchasing a $625,000 property. The lender requires a 20% down payment to avoid mortgage insurance. The buyer provided $5,000 in earnest money. The buyer closing costs are $13,000. What is the amount the buyer must bring to settlement to close the transaction?
A) $143,000
B) $120,000
C) $138,000
D) $133,000
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: D |


