Exam (elaborations)
Massachusetts Real Estate License Practice Exam
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Massachusetts Real Estate License Practice Exam
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Massachusetts Real Estate License Practice Exam___________ antitrust violation is one in which the competing firms agreed to violate
antitrust laws. A __________________ violation means that authorities don't need to
make any additional inquiries about the violation to impose penalties. The fact that
collusion existed
is enough.
A. Price fixing (collusion)
B. Market allocation
C. Group boycotting
D. Per Se - ANSWER-D
____________ is a measure of both the interest rate and other fees associated with the
mortgage loan. - ANSWER-APR
____________ is an agreement between two or more parties who conspire to not do
business with a particular person or company.
A. Price fixing (collusion)
B. Market allocation
C. Group boycotting
D. Per Se - ANSWER-C
_______________ means following a client's lawful instructions. Licensees may not
obey a client's illegal or unethical instructions.
A. Obedience
B. Loyalty
C. Disclosure
D. Confidential
E. Accounting
F. Reasonable Skill and Care - ANSWER-A
________________ involves businesses that conspire to restrict competition or trade,
resulting in diminished choices or higher prices (or
both) for the consumer. - ANSWER-antitrust
________________ is the act of guiding prospective buyers to or away from specific
areas based on membership in or a preference for or against a protected class
A. Reverse redlining
B. Blockbusting
C. Steering
D. Fraud - ANSWER-C
,_________________ and _____________________ address the substitution of one
party in a contract for another party.
A. Assignment
B. Novation
C. Reasonable time
D. Time is of the essence - ANSWER-a and b
__________________ involves an agreement between brokers to divide up the market
and then refrain from competing for business.
A. Price fixing (collusion)
B. Market allocation
C. Group boycotting
D. Per Se - ANSWER-B
__________________ is defined as the right of government to make decisions relative
to the welfare and safety of its citizens.
A. Police power
B. Doctrine of laches
C. Power of escheat
D. Municipal master plan - ANSWER-A
__________________ means putting your client's interests ahead of others, including
your own. It also means working in the client's best interests.
A. Obedience
B. Loyalty
C. Disclosure
D. Confidential
E. Accounting
F. Reasonable Skill and Care - ANSWER-B
__________________ mortgages involve interest-only payments until the end of the
loan term, when the entire principal balance comes due.
A. Straight
B. Budget
C. Amortized
D. Adjustable - ANSWER-A
___________________ is a legal doctrine implying that time is of the essence, and that
delays may result in individuals losing various legal rights.
,A. Police power
B. Doctrine of laches
C. Power of escheat
D. Municipal master plan - ANSWER-B
___________________ is applied when a community wants all of the structures in a
given area to have a similar visual look.
A. Aesthetic zoning
B. Downzoning
C. Incentive zoning
D. Spot zoning - ANSWER-A
___________________ is when both parties sign the contract.
A. Acceptance
B. Binding acceptance
C. Personal delivery
D. Notarization - ANSWER-A
___________________ is when trust funds are deposited into anything besides a trust
account set up specifically to hold funds belonging to others.
A. Commingling
B. Conversion
C. Theft - ANSWER-A
____________________ involves an agreement between competitors (brokers) to fix
contract terms, services, or products at a specific price or level, such as suggesting
there's a "standard" fee for broker compensation.
A. Price fixing (collusion)
B. Market allocation
C. Group boycotting
D. Per Se - ANSWER-A
____________________ is when lenders refuse to provide mortgage financing to
borrowers in specific geographic areas based on area demographics - ANSWER-
redlining
____________________ is when the signed contract is delivered to all parties.
A. Acceptance
B. Binding acceptance
C. Personal delivery
D. Notarization - ANSWER-B
, _____________________ means proper handling of client property, which includes
keys, funds, paperwork, and the property itself. This means no commingling or
conversion of the earnest money, among other requirements.
A. Obedience
B. Loyalty
C. Disclosure
D. Confidential
E. Accounting
F. Reasonable Skill and Care - ANSWER-E
______________________ is when trust funds are spent for any purpose other than
that for which they were intended.
A. Commingling
B. Conversion
C. Theft - ANSWER-B
_______________________ applies when someone dies without a will, an heir, or a
creditor.
A. Police power
B. Doctrine of laches
C. Power of escheat
D. Municipal master plan - ANSWER-C
_______________________ is the practice of inducing the sale of properties in a
neighborhood by threatening that members of a minority class moving into the
neighborhood will decrease property values
A. Reverse redlining
B. Blockbusting
C. Steering
D. Fraud - ANSWER-B
_______________________ is what parties are supposed to adhere to if a date hasn't
been specified in the contract.
A. Assignment
B. Novation
C. Reasonable time
D. Time is of the essence - ANSWER-C
_______________________ loan's rates don't fluctuate at any point.
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