Real Estate Massachusetts-Real-Estate-Salesperson valid exam dumps : Massachusetts Real Estate Salesperson Exam

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Real Estate Massachusetts-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. The two clauses in a mortgage which allow the lender to proceed with a foreclosure sale are which of the following?

A) escalation clause and power of sale clause
B) acceleration clause and power of sale clause
C) foreclosure clause and alienation clause
D) escalation clause and alienation clause

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

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

3. Which of the following is incorrect regarding carbon monoxide inspection?

A) The inspection must be completed as a prerequisite to sell a residential property burning fossil fuel.
B) The inspection must be completed by a building inspector.
C) The inspection must be completed by the local fire department.
D) There is no additional fee if the inspection is done at the same time as the smoke detector inspection.

4. What type of loan would allow homeowners to utilize the equity built up in their home without having to sell?

A) accelerated mortgage
B) sale-and-leaseback
C) reverse mortgage
D) graduated payment

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

Solutions: