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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A motel is the subject of an appraisal and it is determined that a rerouting of a county highway has limited customer access to the motel. This is an example of

A) economic obsolescence.
B) functional obsolescence.
C) regression.
D) landlocked property.

2. Inactive salespersons are permitted to perform which of the following activities?

A) Refer potential buyers to an active salesperson in exchange for a fee from the salesperson.
B) Refer potential listings to an active broker in exchange for a fee from the active broker.
C) Affiliate with inactive brokers.
D) List homes by telephone.

3. Which of the following will NOT be considered relevant if HUD investigates a prospective home buyer's allegation of discriminatory treatment by a licensee in a brokerage office?

A) the reports of undercover testers who visited the office
B) whether the licensee believed they were acting in the best interests of the prospective buyer
C) whether or not the HUD Equal Housing Opportunity poster is displayed in the office
D) records of the houses shown and properties suggested to the prospective buyer

4. A broker maintains a trust or escrow account. A $10,000 earnest money deposit is received from a buyer and deposited in the account. Several weeks later and prior to closing, the broker withdraws $7,000 from the account and puts it in an operating account. This transaction is

A) permissible as long as the broker is entitled to at least $7,000 in commission.
B) an instance of illegal conversion of funds.
C) a violation of federal banking regulations.
D) permissible if the seller was informed about the transfer of funds.

5. The purpose of Regulation Z is to

A) set maximum interest charges.
B) inform the borrower of credit costs.
C) regulate interest charges.
D) control the use of credit.

Solutions: