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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: General Real Estate Knowledge | 67% | - Property Ownership
|
| Topic 2: Massachusetts Real Estate Law | 33% | - Massachusetts License Law
|
1. An example of modular construction is
A) prefabricated housing.
B) a home used as a model.
C) an apartment building.
D) a log cabin.
2. A licensee lists a property and discovers that the property is too far away to market effectively. The licensee's firm retains the listing, but does not advertise or show it. Which of the following has been violated?
A) seller disclosure laws
B) fiduciary responsibility
C) statute of frauds
D) Consumer Protection Act
3. 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) filing a complaint with the Real Estate Commission.
B) bringing an action against the seller for payment of compensatory damages.
C) suing the seller for specific performance.
D) canceling the contract and recovering the earnest money.
4. Real estate taxes that are paid in advance are prorated on the closing statement as
A) a debit to buyer; a credit to seller.
B) no entry to buyer; a debit to seller.
C) a credit to buyer; a debit to seller.
D) no entry to buyer; a credit to seller.
5. What is the difference between a license to use property and an easement?
A) An easement can be cancelled by the issuer.
B) A license can be cancelled by the issuer.
C) There must be consideration paid for a license.
D) There must be consideration paid for an easement.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
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