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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A married couple owns property as tenants by the entirety. If they were to divorce, their ownership would be

A) Tenancy in common.
B) Tenancy in severalty.
C) Joint tenancy.
D) Tenancy by the entirety.

2. A first-year licensee without either a degree in finance, or a strong background in real estate investment should generally refrain from

A) representing an owner who wants to sell raw land to a developer.
B) representing a first time home buyer.
C) acting as the seller's agent in selling an oceanfront lot to a retiree.
D) listing commercial income property.

3. Which of the following is true of a quitclaim deed?

A) It has warranties similar to a special warranty deed.
B) It can be used to remove a cloud on a title.
C) It cannot be used to transfer a title held in fee simple.
D) It cannot be recorded.

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

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

5. A buyer and seller agreed upon a selling price for a property and both signed a written agreement. As part of the contract, the buyer reserved the right to cancel the sale if the buyer's house, which was on the market, did not sell within 30 days. This contract is

A) an executory contract.
B) an executed contract.
C) a unilateral contract.
D) an implied contract.

Solutions: