MA Salesperson Bundled Exams Questions and Answers 100% Pass

MA Salesperson Exam Module 2: Property Rights Study Guide Solutions Personal Property - ANSWER-Anything not associated with the land, personalty, moveable property Real Property - ANSWER-the land, anything attached to the land, and all of the various rights associated with the ownership of the l...

MA Salesperson Exam Module 3: Interests in Real Estate Study Guide Solutions Freeholds - ANSWER-Fee simple absolute, fee simple defeasible, life estates Fee Simple Absolute - ANSWER-Default type -aka fee, fee simple, fee simple indefeasible -not limited, inheritable -owner is entitle to the e...

MA Salesperson Exam Module 4: Limitations of Property Rights Study Guide Solutions encumberance - ANSWER-the term used to refer to restrictions that limit real property public limitations - ANSWER-limitations on what property owners can do with their real estate, P.E.T.E Police power - ANSWER-...

MA Salesperson Exam Module 5: Transfer of Property Study Guide Solutions Deeds - ANSWER-- How RE is transferred or conveyed -legal document that transfers title or ownership -receipt for RE Valid deed must contain: - ANSWER-§ Must be written § Grantor must be legally competent § Must name ...

MA Salesperson Exam Module 6: Contracts and Contracts in Practice Study Guide Solutions contract - ANSWER-legally binding agreements between two or more parties (natural or legal persons) perform - ANSWER-do what you legally promised in the contract essentials of a contract - ANSWER-offer and a...

MA Salesperson Exam Module 7: Leases Study Guide Solutions Leases - ANSWER--also known as tenancy for years, estate for years, interest for years, or demise -written conveyance of possession but not ownership of real estate, for some specific period of time privity of estate - ANSWER-a legal rel...

MA Salesperson Exam Module 8: Property Valuation Study Guide Solutions appraisal - ANSWER-estimate of value of property Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 - ANSWER-o appraisers must have an appraisal license to make an appraisal for federally rel...

MA Salesperson Exam Module 9: Introduction to Real Estate Financing Study Guide Solutions financing - ANSWER-receiving, or providing, money for the purchase of real estate debt to income ratio - ANSWER-A standard tool that calculates whether a borrower will have difficulty meeting his or her lo...

MA Salesperson Exam Module 10: Real Estate Financing Exam Study Guide Solutions secondary mortgage market - ANSWER--banks have the option to sell off the loan investors -After the loan is sold (either at a discount for less that its worth or at a premium for more than it's worth) the mortgag...

MA Salesperson Exam Module 11: Government Financing Programs & Regulations Study Guide Solutions Updated 2024 conventional loans - ANSWER-not apart of government financing programs government financing programs - ANSWER-encourage home ownership by making loans affordable. Allow borrowers to us...

MA Salesperson Exam Module 12: Consumer Protection Laws Study Guide Solutions | Grade A+ Consumer Protection Act, MGL 93A - ANSWER-§ Allow for private right of action o Law is designed to protect consumers from unfair and deceptive practice employed by some businesses o Empower consumer who f...

MA Salesperson Exam Module 13: Real Estate Agency Study Guide Solutions Law of Agency - ANSWER-governs the relationship between clients and agents Principal - ANSWER--person hiring the agents -could be client or broker -vicarious liability vicarious liability - ANSWER-if you are a client who h...

MA Salesperson Exam Module 14: Fair Housing Law Exam Study Guide Solutions Fair housing law - ANSWER-· prohibits discrimination in real estate based on a number of protected classes o Covers real estate agent, sellers, buyers, landlords, appraisers, and anyone else involved in a RE transaction...

MA Salesperson Exam Module 7: Leases Study Guide Solutions Leases - ANSWER--also known as tenancy for years, estate for years, interest for years, or demise -written conveyance of possession but not ownership of real estate, for some specific period of time privity of estate - ANSWER-a legal rel...