Lesson 11

Question 1

All of the following are material facts that need to be disclosed by the real estate broker EXCEPT that:

Answer 1

The prior tenant had AIDS

Question 2

Under M.G.L. c.93A, if a broker is found to have willfully misrepresented something to a buyer the maximum penalty is:

Answer 2

Triple damages plus attorney’s fees

Question 3

According to the Mass Consumer Protection Act, c.93A, it is an unfair and deceptive practice for a real estate licensee to:

Answer 3

Fail to inform a prospective buyer that a house being sold has termites unless the buyer asks about it

Question 4

If a salesperson uses undue influence or fails to disclose material defects in a real estate transaction, all of the following would be true EXCEPT that:

Answer 4

The broker of the salesperson would automatically lose her license

Question 5

M.G.L. c.93A requires the broker or salesperson to:

Answer 5

Disclose all known information, good or bad, to the buyer

Question 6

When selling a house with an underground septic system, the seller must:

Answer 6

Prove system was approved under Title 5 guidelines

Question 7

Which environmental hazard can be “friable”?

Answer 7

Asbestos

Question 8

The Residential Lead-Based Paint Hazard Reduction Act require real estate agents to disclose to a buyer the probability of lead-based paint in a home being offered for sale if it was built on or before:

Answer 8

1978

Question 9

Broker knows boiler in a home is lined with asbestos. Broker must:

Answer 9

Broker must disclose the information to buyer

Question 10

Under the federal Lead-Based Paint Hazard Reduction Act (LBPHRFA), which statement is TRUE?

Answer 10

A disclosure statement must be attached to all sales contracts and leases involving residential properties built prior to 1978

Question 11

Which of the following is NOT exempt from the Do Not Call legislation?

Answer 11

Real estate agents

Question 12

The federal legislation funds the clean-up of toxic waste site?

Answer 12

CERCLA

Question 13

An executor of an estate asked an agent to list the home of a relative who had committed suicide inside the property. The suicide didn’t impact the structural soundness of the home, but if it negatively affected its selling price, what name was probably assigned to the property?

Answer 13

Stigmatized

Question 14

Under what circumstances must a lead disclosure form be signed by a prospective buyer or tenant?

Answer 14

The home was built before 1978 and may or may not have lead paint.

Question 15

Mud tunnels at the foundation of a home indicate:

Answer 15

Ground termites

Question 16

Which fact need NOT be disclosed?

Answer 16

The seller has AIDS