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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?

A) $693
B) $231
C) $1,386
D) $1,260

2. Before it was recognized as a health hazard, asbestos was commonly used as insulation in residential and commercial construction because it is

A) repellent to common pests.
B) fire resistant.
C) water resistant.
D) an air purifier.

3. Which of the following statements concerning a security deposit is correct?

A) It may be maintained in the landlord's regular business account as long as it is interest-bearing.
B) It must be returned to the tenant within twenty-one days of termination of occupancy.
C) It must be transferred to the tenant when the building is sold.
D) It may not exceed the first month's rent.

4. Which of the following property valuation estimates or reports would have to be prepared by a licensed or certified appraiser?

A) a value analysis for a non-residential property valued below $250,000
B) a comparative market analysis
C) a broker's price opinion
D) a reconciliation report for an FHA loan

5. Which of the following best completes the following metes and bounds description? "Beginning at the intersection of Bunker Hill Road and Munson Avenue, thence 150 feet south; thence 85 feet west; thence 150 feet north; thence"

A) 85 feet east to the Point of Beginning.
B) 85 feet west to the Point of Beginning.
C) 150 feet south to the Point of Beginning.
D) 150 feet west to the Point of Beginning.

Solutions: