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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:

SectionObjectives
Topic 1: Massachusetts State-Specific Real Estate Law- Real Estate Practices in Massachusetts
  • 1. Transaction procedures
    • 2. Escrow and trust accounts
      - Fair Housing and Anti-Discrimination Laws
      • 1. Federal Fair Housing Act
        • 2. Massachusetts fair housing rules
          - State Licensing Laws
          • 1. License law and regulations
            • 2. Broker and salesperson requirements
              Topic 2: National Real Estate Principles & Practices- Agency Principles
              • 1. Fiduciary duties
                • 2. Disclosure requirements
                  - Land Use Controls & Regulations
                  • 1. Environmental regulations
                    • 2. Zoning laws
                      - Property Ownership
                      • 1. Land use and regulations
                        • 2. Types of ownership (fee simple, leasehold)
                          - Financing
                          • 1. Mortgage types
                            • 2. Loan origination process
                              - Contracts
                              • 1. Purchase and sale agreements
                                • 2. Listing agreements
                                  - Valuation and Market Analysis
                                  • 1. Comparative market analysis
                                    • 2. Appraisal principles

                                      Real Estate Massachusetts Real Estate Salesperson Sample Questions:

                                      Erica purchases a property for $330,000 and later sells it for $425,000. Ignoring transaction expenses, what is her percentage profit based on the original purchase price?

                                      • A. 28.79%
                                      • B. 22.35%
                                      • C. 25.00%
                                      • D. 35.20%
                                      Answer: A

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                                      At settlement, a mortgage lender requires the borrower to deposit $345 into an escrow account. For what purpose would those funds most commonly be held?

                                      • A. Brokerage commissions
                                      • B. Property taxes and homeowners insurance
                                      • C. Furniture purchases
                                      • D. Seller ' s moving costs
                                      Answer: B

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                                      Jeanie is a licensed individual who works for June ' s Massachusetts real-estate brokerage and helps market properties for sellers. Which licensing role most accurately describes Jeanie within June ' s brokerage?

                                      • A. Independent special broker
                                      • B. Unlicensed assistant
                                      • C. Employing broker
                                      • D. Salesperson
                                      Answer: D

                                      Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).

                                      A fixed-term lease expires, but the landlord knowingly permits the tenant to remain and continues accepting the same monthly rent without entering a new fixed-term lease. What tenancy will this most commonly resemble?

                                      • A. Tenancy by the entirety
                                      • B. Joint tenancy
                                      • C. Tenancy at will/periodic tenancy
                                      • D. Life estate
                                      Answer: C

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                                      A property manager has successfully negotiated the lease of a home built in 1965 to tenants who have no children. Regarding disclosure of lead-based paint, the property manager should

                                      • A. have all the lead-based paint covered or removed by licensed mitigators.
                                      • B. do nothing, as regulations only apply when children are present.
                                      • C. have the tenants sign the disclosure form and provide them with the required booklet.
                                      • D. give the tenants 10 days to test the home and provide them with the required booklet.
                                      Answer: C

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