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MA Salesperson Exam Module 15: Real Estate Licensing Law Exam Study Guide Solutions $11.49   Add to cart
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MA Salesperson Exam Module 15: Real Estate Licensing Law Exam Study Guide Solutions
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MA Salesperson Exam Module 15: Real Estate Licensing Law Exam Study Guide Solutions Board of registration of Real Estate Brokers and Salespersons - ANSWER-enforces the license law o Part of the Division of Professional Licensure o Made up on 5 members appointed by the governor § each member h...

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  • November 4, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ma salesperson exam module 15 real estate licensi

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  • Real Estate
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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




MA Salesperson Exam Module 15: Real Estate

Licensing Law Exam Study Guide Solutions


Board of registration of Real Estate Brokers and Salespersons - ANSWER✔✔-enforces the license law


o Part of the Division of Professional Licensure


o Made up on 5 members appointed by the governor


§ each member has a 5-year term.


§ one member's term expires each year


§ 3 of the members are brokers with at least 5 years of experience


§ 2 of the members represent the public


§ One member is appointed chair


§ Meet at least 4 times a year


· With a quorum of at least 3 members present


· Their budget comes from the state and fees they collect go to the state treasury


You do not need a license to - ANSWER✔✔-§ Buying, selling, or renting a property for yourself


§ Lawyers and other people holding written powers of attorney


· Lawyers are entitled to their broker's license. If someone is a licensed lawyer in MA, they can pay a fee

to get their broker's license without any real estate experience, classes, or a test



Copyright ©Stuvia International BV 2010-2024 Page 1/6

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


§ regular hourly or salaries employees of a company that engage in daily activities related to a property


· property managers


§ public officers/employees performing official duties


§ auctioneers, appraisers, and the employees of lenders/insurance companies


§ persons acting under a court order, e.g. executors, administrators, or guardians


§ trustees


biennially - ANSWER✔✔-licenses are renewed every 2 years on your birthday


inactive licenses - ANSWER✔✔-can make a referral to active licensees and collect referral fee from agent


states with full reciprocity to MA license - ANSWER✔✔-CT, GA, IA, NE, NM, PA, RI, NY


states with limited reciprocity to MA license - ANSWER✔✔-DE, ID, KY, NH, NC, SC, SD, WA, WV


MA is a physical location state - ANSWER✔✔-§ Out of state licensees are not permitted to perform real

estate services in MA, but they may receive commission for transaction in MA so long as the services

they performed on behalf of the client occurred in MA.


cooperative state - ANSWER✔✔-states that permit out of state licensees to perform real estate services

in the state if they enter into a written co-broker agreement with an in-state licensee for the transaction


turf state - ANSWER✔✔-states that only permit out of state licensees to receive a referral fee


Entities involved in Re (LLCs) - ANSWER✔✔-must have a broker's license and designate one of their

officers as the broker of record, who must hold a broker's license


practicing without a license - ANSWER✔✔-$500 fine for


Copyright ©Stuvia International BV 2010-2024 Page 2/6

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