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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: General Real Estate Knowledge | 67% | - Valuation and Market Analysis
|
| Topic 2: Massachusetts Real Estate Law | 33% | - Massachusetts License Law
|
1. The commission rate included in a listing contract is determined by
A) negotiation.
B) state statute.
C) national trade organizations.
D) local custom.
2. A licensee lists a property and discovers that the property is too far away to market effectively. The licensee's firm retains the listing, but does not advertise or show it. Which of the following has been violated?
A) seller disclosure laws
B) Consumer Protection Act
C) statute of frauds
D) fiduciary responsibility
3. A rectangular lot contains 16,500 square feet. It has a depth of 150 feet. Each of two adjacent rectangular lots contains 4,950 square feet with a depth of 150 feet. What is the total street frontage of the three lots in linear feet?
A) 159
B) 133
C) 176
D) 143
4. A prescriptive easement is proven by a
A) previous recorded deed.
B) recorded abstract.
C) quiet title action.
D) title policy.
5. To be legally binding, a listing agreement can be signed for the owner by the
A) trust beneficiary acting under a valid trust.
B) owner's heirs apparent.
C) attorney-in-fact.
D) broker, upon telephone instructions from the owner.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: C |
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