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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. An escrow or trust account is often held by a lender to pay

A) interest on a loan.
B) the bank's outstanding invoices.
C) property taxes and insurance payments.
D) mortgage payments.

2. The provisions of the Real Estate License Law apply to which of the following individuals?

A) A licensed person who for a fee receives a referral from a licensed broker
B) A regular employee of a property owner who conducts lease transactions on the property
C) Salespersons who sell their primary residences
D) A property manager who handles the sale of units within a managed condominium complex

3. What is the difference between a license to use property and an easement?

A) A license can be cancelled by the issuer.
B) There must be consideration paid for an easement.
C) There must be consideration paid for a license.
D) An easement can be cancelled by the issuer.

4. If a seller defaults in performance of a contract, any of the following actions would be likely to help the buyer recover any losses EXCEPT

A) suing the seller for specific performance.
B) bringing an action against the seller for payment of compensatory damages.
C) filing a complaint with the Real Estate Commission.
D) canceling the contract and recovering the earnest money.

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

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