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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Which of the following statements concerning a security deposit is correct?

A) It may not exceed the first month's rent.
B) It must be returned to the tenant within twenty-one days of termination of occupancy.
C) It must be transferred to the tenant when the building is sold.
D) It may be maintained in the landlord's regular business account as long as it is interest-bearing.

2. Which of the following groups are protected under the Massachusetts Fair Housing Laws?

A) Smokers
B) Public assistance recipients
C) Sex offenders
D) Students

3. When real estate brokers and salespersons engage in renting residential dwelling units, they must provide a prospective tenant with written notice of the

A) Name and address of the landlord.
B) Amount of the rent.
C) Amount of fee, if any, that the prospective tenant will have to pay for the broker's services.
D) Presence of any sex offenders living in the neighborhood.

4. Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?

A) Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.
B) The buyer's broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.
C) Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.
D) The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.

5. A first-year licensee without either a degree in finance, or a strong background in real estate investment should generally refrain from

A) representing an owner who wants to sell raw land to a developer.
B) listing commercial income property.
C) representing a first time home buyer.
D) acting as the seller's agent in selling an oceanfront lot to a retiree.

Solutions: