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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. To be legally binding, a listing agreement can be signed for the owner by the

A) trust beneficiary acting under a valid trust.
B) attorney-in-fact.
C) broker, upon telephone instructions from the owner.
D) owner's heirs apparent.

2. The purpose of Regulation Z is to

A) set maximum interest charges.
B) control the use of credit.
C) inform the borrower of credit costs.
D) regulate interest charges.

3. Disclosure of licensee relationships to prospective buyers and sellers is required

A) When listing commercial properties.
B) When responding to a telephone or internet inquiry.
C) When discussing any real estate issue.
D) At the first personal meeting to discuss a specific single-family property.

4. Inactive salespersons are permitted to perform which of the following activities?

A) Affiliate with inactive brokers.
B) Refer potential listings to an active broker in exchange for a fee from the active broker.
C) Refer potential buyers to an active salesperson in exchange for a fee from the salesperson.
D) List homes by telephone.

5. A first-year licensee without either a degree in finance, or a strong background in real estate investment should generally refrain from

A) representing an owner who wants to sell raw land to a developer.
B) acting as the seller's agent in selling an oceanfront lot to a retiree.
C) representing a first time home buyer.
D) listing commercial income property.

Solutions: