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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A broker lists a property for ninety days. A buyer stops at the owner's residence and makes an offer for the property, which the owner accepts. The broker has no knowledge of the sales agreement between the buyer and the owner. The broker is entitled to a commission from the sale if the agreement the broker had with the owner was a(n)

A) Net listing.
B) Open listing.
C) Exclusive agency listing.
D) Exclusive right-to-sell listing.

2. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase which is 20% less than the list price. Which of the following is appropriate?

A) The seller is under no obligation to accept the offer or make a counteroffer.
B) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
C) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
D) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.

3. A home warranty for a previously owned home would usually cover which of the following items?

A) major appliances and home systems such as electric, heating, and plumbing
B) major appliances, the buyer's personal property, and any seller added fixtures
C) structure or flooding issues after closing
D) only home systems such as the roof, plumbing, and foundation

4. Which of the following is true about a competitive market analysis?

A) It is employed for insurance purposes.
B) It is used to establish depreciable value.
C) It is usually based on local tax assessment.
D) It is useful to the buyer as well as to the seller.

5. What kind of lease would require the lessee to pay the taxes, insurance, repairs, and other operating expenses of the premises in addition to the regular rental payment?

A) percentage lease
B) graduated lease
C) net lease
D) gross lease

Solutions: