Lesson 14 Flashcards
A salesperson may work for:
A broker/owner of a real estate firm
According to the Massachusetts Fair Housing Law, it is unlawful to ask prospective tenants questions about:
Their marital status
An ad was placed in the local newspaper by a real estate broker describing a piece of property along with a phone number to call but nothing else. Which of the following best decribes this ad?
A blind ad
Which of the following statements would be considered FALSE with respect to the sale of out-of-state land within the Commonwealth?
The Board may recommend that a land court prohibit the sale of the property within the Commonwealth
A property is sold in Massachsuetts for $200,000 with the buyer assuming the seller\s existing loan balance of $100,000. Which of the following is true?
The seller will pay $456.00 in deed tax stamps
According to the Massachusetts Rivers Protection Act, a developer who wants to build near a river should first check with:
The community\s Conservation Commission
A licensee may lose his license for all of the following EXCEPT:
Charging less than 60% commission on a sale
The Massachusetts Wetlands Protection Act
Is enforced by local Conservation Commissions AND Requires local approval if work is proposed within the wetlands or 100\ buffer zone
Which of the following statements is not true?
Real estate salespersons must maintain a $5,000 bond.
When a broker advertises a house for sale, the ad must indicate:
A broker and not a private party is selling
Interest on security deposits held by the landlord:
May not be applied by the tenant toward future rents
Massachusetts towns may require that:
New housing of four or more units be equipped with spinkler systems.
Brokers are required to maintain a deposit in an escrow or trust account until the:
Consummation or termination of the transaction
All of the following acts could result in a fine EXCEPT:
Failing to give all parties in a real estate transaction a copy of the purchase and sale agreement
Seller A lists property with broker B with stipulation A will get $75,000. All proceeds over that will go to B.
In Massachusetts B could lose his license for taking a net listing
Which of the following bond amounts is required of all MA licensed salespeople?
$0
According to the Massachusetts Fair Housing Law, it is unlawful to ask prospective tenants questions about:
Neither; Whether they have children under the age of six OR If they are on a rental subsidy program
In Massachusetts, a prospective buyer MUST be given a ten-day period to inspect a home for the presence of:
Lead
It is a violation under the Massachusetts Fair Housing laws to inquire of a prospective tenant about all of the following EXCEPT:
Children and the Ages of Children
Which of the following is prohibited in Massachusetts according to the Board of Registration regulations?
Net listings
A licensed Salesperson may:
Advertise a property he owns
The Board of Registration in proceeding with a compliant against a licensee:
Must give a minimum of ten days written notice of the hearing to the broker or salesperson
Which of the following categories is NOT covered under the Massachusetts Fair Housing Law?
Credit history
A broker operates an office in a town on the state line. a buyer from the adjoining state wants to see homes on both sides of the border, in this case, the broker
May not show the buyer homes in the other state without a non-resident license
In Massachusetts, dower rights become effective
at the moment of a spouse’s death
If an agent has actual knowledge he may answer inquiries on all of the following stigmatisms, EXCEPT:
AIDS
A license applicant signs up to take the state examination, but has failed to obtain an employer prior to the exam date. In this case, the applicant
may take the exam and receive an inactive license
An enforeceable listing agreement does NOT have to be in writing because the
statute of frauds does not apply to a listing agreement
Massachusetts requires the following at closing:
Local Fire Department Smoke Detection Certificate
Six months after the buyer bought a house, the roof leaked during a rainstorm. When the house was listed the seller told the broker that the roof leaked, but they agreed not to tell any prospective buyers. The broker claims that the buyer did not ask about the roof. Under these facts, the buyer
can sue the broker under MCPA
A broker is legally entitled to a commission if she
Produces a purchaser and a binding contract, and the transaction closes
Where are complaint hearings given for Salesperson and Brokers?
At the License Board
Mass housing’s ability to adjust income and price limits is determined by:
U.S. Treasury and HUD
In Massachusetts, what is the name of the law that is similar to CERCLA or Superfund?
Massachusetts Oil and Hazardous Material Release Prevention and Response Act
Upon change of ownership, who inspects smoke detectors?
Fire Department
Failure of a broker to post an equal housing opportunity poster could result in:
Shifting the burden of proof as to discrimination from the plaintiff to the broker
