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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A building was purchased for $350,000 with a 20% down payment. If the lender charged the buyer three discount points, how much will the buyer need to close?

A) $360,500
B) $78,400
C) $61,600
D) $80,500

2. An owner has a freestanding cabinet that was custom-built to fit an alcove of the living room. When the owner sells the home, the cabinet will be best described as

A) an appurtenance.
B) a fixture.
C) real property.
D) personal property.

3. Deposit money received by a salesperson must be turned over to the salesperson's broker

A) Immediately.
B) Within three days.
C) At the date specified in the offer to purchase.
D) At the signing of the purchase and sale agreement.

4. An offer of $569,000 is verbally accepted by a seller. Two hours later an offer of $589,000 is presented to the seller, which the seller accepts in writing. Based on the above situation the first buyer is

A) Not entitled to purchase the property.
B) Entitled to an additional offer.
C) Not entitled to the status as a backup offer.
D) Entitled to purchase the property.

5. The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are

A) executory.
B) executed.
C) voidable.
D) fulfilled.

Solutions: