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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A person acquires an option to purchase a parcel of another person's land. Which of the following statements is correct?

A) An option is a promise by the optionee to enter into a contract in the future.
B) The terms and conditions of the sale must be stated if the option is to be a valid contract.
C) The consideration for the option right, plus interest, will be automatically applied to the purchase price if the option is exercised.
D) The potential buyer is the optionor and the seller is the optionee.

2. What kind of lease would require the lessee to pay the taxes, insurance, repairs, and other operating expenses of the premises in addition to the regular rental payment?

A) gross lease
B) percentage lease
C) graduated lease
D) net lease

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

4. A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A) The first offer received
B) All three of the offers
C) The offer with the highest sale price
D) The offer most favorable to the seller, including price and all terms

5. A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?

A) $1,260
B) $693
C) $1,386
D) $231

Solutions: