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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Licensee A and Licensee B work for a principal broker for ABC Realty. For Licensee A, the principal broker supervises the work as a listing/buyer's agent, collects commissions, and pays out based on their commission split agreement. Licensee A works from home and attends training meetings at the office. Licensee B works 8 a.m. to 4 p.m. in the ABC Realty office for relocations, showing local properties to relocating clients.
Licensee B is licensed to show homes and submits offers for purchase from individuals who are relocating but is paid by salary based on hours worked, with a bonus for production. What are Licensee A and B's relationships with ABC Realty?

A) Licensee A is an employee and Licensee B is a contractor.
B) Licensee A is a contractor and Licensee B is an employee.
C) Licensee A and Licensee B are both contractors.
D) Licensee A and Licensee B are both employees.

2. An escrow or trust account is often held by a lender to pay

A) interest on a loan.
B) the bank's outstanding invoices.
C) property taxes and insurance payments.
D) mortgage payments.

3. A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when

A) the licensee discloses the interest in the company to the client.
B) it is in the best interest of the client.
C) the client does not ask for other recommendations.
D) the licensee does not know any of the other title companies in the area.

4. A home warranty for a previously owned home would usually cover which of the following items?

A) major appliances, the buyer's personal property, and any seller added fixtures
B) only home systems such as the roof, plumbing, and foundation
C) structure or flooding issues after closing
D) major appliances and home systems such as electric, heating, and plumbing

5. A salesperson's client is the lessee. Who does the salesperson represent?

A) lien holder
B) landlord
C) tenant
D) lender

Solutions: