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

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A veteran has applied for a VA loan to purchase a house with a sale price of $90,000. The Department of Veterans Affairs (VA) appraised the house at $85,000. In this situation, the veteran

A) may buy the property with the VA loan only if the price is reduced to $85,000.
B) may use the VA loan to buy the house after making a down payment of $5,000.
C) cannot secure a VA loan because such loans are limited to a maximum of $75,000.
D) may buy the property with the VA loan only if the seller agrees to take back a second mortgage for
$5,000.

2. A broker lists a property abutting a pond. A potential buyer is interested in the property but plans to build an addition onto a boathouse. The buyer will need

A) Approval from the State Sanitary Commission.
B) A certificate of compliance.
C) A letter of interim control.
D) Approval from the local conservation commission.

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

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

4. A 2-year lease on a property has expired. The owner permits the tenant to remain in the house while a new lease is being negotiated. Which of the following types of interest does the tenant now have?

A) tenancy at will
B) tenancy from year to year
C) tenancy at sufferance
D) tenancy in common

5. A salesperson's client is the lessee. Who does the salesperson represent?

A) landlord
B) lien holder
C) tenant
D) lender

Solutions: