Exam (elaborations)
Practice Exam: Massachusetts State- Exam Questions – Prepagent/Questions and Answers
Practice Exam: Massachusetts State- Exam Questions – Prepagent/Questions and Answers
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Practice Exam: Massachusetts State- ExamQuestions – Prepagent/Questions and
Answers
When a real estate company has agency agreements with both a seller and a
buyer, can the buyer make an offer on the seller's property?
A. No because the real estate company would then be a dual agent.
B. Yes, if both the buyer and seller give their verbal consent to dual agency.
C. Yes, if the seller has agreed to pay the commission.
D. Yes, if both parties have completed written agency agreements. - -D. Yes,
if both parties have completed written agency agreements.
- Peter, a licensed broker, finds a buyer for his seller-principal, the Noonans.
After accepting the buyer's offer in writing, the Noonans change their minds
and withdraw their acceptance. Which of the following is Peter's recourse?
A. Peter may keep the deposit as is commission.
B. He may sue the buyer.
C. He has no recourse because the sale was never completed.
D. Peter is entitled to collect a commission. - -D. Peter is entitled to collect a
commission.
- Leslie's listing agreement with Mr. and Mrs. Wilson has expired and they
have listed with a different brokerage firm. When Leslie has a buyer who is
interested in the Wilson property, which of the following is correct?
A. Leslie cannot represent the buyer.
B. Leslie cannot disclose to the buyer any offers received on the Wilson
property while he had the listing.
C. Leslie cannot disclose to the buyer any information about the physical
condition of the property.
D. Leslie is a dual agent. - -B. Leslie cannot disclose to the buyer any offers
received on the Wilson property while he had the listing.
- Roger is a real estate salesman who is often asked by buyers for
assistance with securing a mortgage. He knows a lender who pays a referral
fee. Should Roger refer them to this lender?
A. Yes, if Roger discloses the referral fee to the sellers.
B. Yes, if the lender's interest rates and terms are the best available.
C. No, because salespeople may only be compensated by their employing
broker.
D. Yes, if Roger and the buyers have a written buyer agency agreement. - -
C. No, because salespeople may only be compensated by their employing
broker.
, - Bonnie does not wish to enter into a buyer agency agreement, but she is
interested in seeing a house they have listed. Which of the following
conditions must be met in order for a salesperson from the agency to show
Bonnie the listing?
A. Bonnie must verbally agree to buyer agency in the event she wishes to
purchase the house.
B. The salesperson must provide Bonnie a dual agency consent form.
C. The salesperson must obtain the seller's permission.
D. The salesperson must provide Bonnie an agency disclosure stating that
the real estate company represents the seller. - -D. The salesperson must
provide Bonnie an agency disclosure stating that the real estate company
represents the seller.
- Which of the following best describes an exclusive right-to-buy contract in
Massachusetts?
A. It is illegal.
B. It should be indicated as such in the buyer agency agreement.
C. It is equivalent to an exclusive right-to-sell listing agreement.
D. It requires the signature of the principal. - -C. It is equivalent to an
exclusive right-to-sell listing agreement.
- When should an Agency Disclosure form be provided to a prospective
buyer or seller of real estate in Massachusetts?
A. At the first contact with the customer
B. At the closing
C. At the first personal meeting held for the purpose of discussing a specific
property
D. Just prior to presentation of an offer - -C. At the first personal meeting
held for the purpose of discussing a specific property
- Which types of agency are recognized in Massachusetts?
A. Sub-agency, disclosed dual, seller's
B. Seller's, buyer's, subagency, disclosed dual
C. Seller's, buyer's, full fiduciary
D. Seller's buyer's, undisclosed dual - -B. Seller's, buyer's, subagency,
disclosed dual
- When is a Property Condition Statement required?
A. whenever a seller employs a real estate agent
B. when the seller is not assisted by a licensed agent
C. It is not required in Massachusetts.
D. if the property has vacant for a least one year - -C. It is not required in
Massachusetts.
- Leslie is selling her house and has no knowledge of any plumbing
problems. However, the plumbing stack is seriously corroded and will require
, replacement soon. In the seller property condition disclosure, how should
Leslie respond when asked whether she has knowledge of plumping system
problems?
A. No
B. Unknow
C. I don't know
D. She would not be require to respond to this question - -A. No
- When a broker is listing a home in Massachusetts and asks the seller to
complete a property condition disclosure, which of the following statements
is true?
A. Seller disclosure is required but repairs that are up to building code are
optional
B. The disclosure is optional
C. The standard disclosure should cover structural conditions only
D. Seller disclosure is required - -B. The disclosure is optional
- Tarik represents Alan in selling his property. when potential buyer ask to
see the property, which of the following is an appropriate step for Tarik to
take?
A. Inform them, verbally or in writing, that the he represents Alan
B. provide them with the Agency Disclosure form indicating in writing that he
represents Alan's interests
C. show them the property without making any disclosures about his
relationship with Tarik
D. request they enter into a buyer representation agreement with a different
licensee - -B. provide them with the Agency Disclosure form indicating in
writing that he represents Alan's interests
- Ceaser is the agent for an estate that included a detached villa in a
residential community. The former owner of the villa died on the property
and her cause of death was the AIDS virus. Ceaser also knows that a highly
publicized murder took place in the villa five years ago. What are his
disclosure responsibilities regarding this villa?
A. Ceaser is specifically relieved of liability for nondisclosure of either
according to Massachusetts license law.
B. He must disclose the AIDS- related death, but he does not need to disclose
the murder.
C. He must disclose both.
D. He cannot disclose the AIDS related death; if asked he must disclose the
murder. - -D. He cannot disclose the AIDS related death; if asked he must
disclose the murder.
- When Nelson listed his house he told his broker that the basement leaked
and they agreed not to tell any prospective buyers. Six months after the new
buyer moved in, the basement leaked and considerable damage resulted.
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