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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Before it was recognized as a health hazard, asbestos was commonly used as insulation in residential and commercial construction because it is

A) an air purifier.
B) water resistant.
C) fire resistant.
D) repellent to common pests.

2. An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that the owner would NOT sell the property. A lawsuit filed by the buyers would be for

A) specific performance.
B) a deficiency judgment.
C) lis pendens.
D) quiet title action.

3. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around

A) $128,500
B) $123,500
C) $148,500
D) $147,500

4. A salesperson owns an apartment complex in Boston. The salesperson has decided to advertise the property for sale in a local newspaper and personally sell it. If the salesperson proceeds in this manner, the salesperson is

A) Violating the law because the salesperson is not a broker and cannot advertise.
B) Violating the law because a salesperson may not sell an income-producing property.
C) Not violating the law because the broker-salesperson distinction does not apply to commercial properties.
D) Not violating the law because the salesperson has all the rights of a non-salesperson owner.

5. A subordination agreement is used to

A) assign rents to the lender in case of borrower default.
B) pledge property for a loan without giving up possession.
C) change the priority of mortgages.
D) initiate foreclosure proceedings.

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