Practice Exam: Massachusetts State- Exam Questions – Prepagent CORRECT 100%
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Course
Massachusetts Real Estate
Institution
Massachusetts Real Estate
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 s...
Practice Exam: Massachusetts State- Exam
Questions – Prepagent CORRECT 100%
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. - ANSWER 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. - ANSWER 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. - ANSWER 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. - ANSWER 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. - ANSWER 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. - ANSWER 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 - ANSWER 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 - ANSWER 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 - ANSWER 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 - ANSWER 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 - ANSWER 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 - ANSWER 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. - ANSWER 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. Because the buyer did not ask about the basement, the broker claims he
is not responsible. What recourse does the buyer have?
A. He can sue Nelson, the former owner.
B. He cannot do anything because the leaking basement could have been discovered by a home
inspection.
C. He cannot sue the broker because he did not ask about the basement.
D. He can sue the broker. - ANSWER D. He can sue the broker.
Which of the following does NOT have to be disclosed by a real estate agent under Massachusetts
Stigmatized Property Law?
A. a ghost
B. urea formaldehyde foam insulation (UFFI)
C. Everything must be disclosed
D. a foreclosure sale - ANSWER A. a ghost
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