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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. What kind of lease would require the lessee to pay the taxes, insurance, repairs, and other operating expenses of the premises in addition to the regular rental payment?

A) percentage lease
B) gross lease
C) net lease
D) graduated lease

2. The common area of a condominium development is owned by

A) its duly elected Board of Directors.
B) those owners who were original owners of the units.
C) any individuals who pay a prorated share of the taxes and maintenance.
D) all owners as tenants in common.

3. The need to protect the public's health and safety against poor construction practices has resulted in the enactment of

A) zoning ordinances.
B) restrictive deed conditions.
C) building codes.
D) zoning committees.

4. A broker lists a property abutting a pond. A potential buyer is interested in the property but plans to build an addition onto a boathouse. The buyer will need

A) A certificate of compliance.
B) Approval from the State Sanitary Commission.
C) A letter of interim control.
D) Approval from the local conservation commission.

5. When lending standards are tightened, lenders typically require

A) a balloon payment after 5 years.
B) a higher loan-to-value ratio.
C) a waiver of the Equal Credit Opportunity Act.
D) a lower loan-to-value ratio.

Solutions: