Lesson 14

Question 1

A salesperson may work for:

Answer 1

A broker/owner of a real estate firm

Question 2

According to the Massachusetts Fair Housing Law, it is unlawful to ask prospective tenants questions about:

Answer 2

Their marital status

Question 3

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?

Answer 3

A blind ad

Question 4

Which of the following statements would be considered FALSE with respect to the sale of out-of-state land within the Commonwealth?

Answer 4

The Board may recommend that a land court prohibit the sale of the property within the Commonwealth

Question 5

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?

Answer 5

The seller will pay $456.00 in deed tax stamps

Question 6

According to the Massachusetts Rivers Protection Act, a developer who wants to build near a river should first check with:

Answer 6

The community\s Conservation Commission

Question 7

A licensee may lose his license for all of the following EXCEPT:

Answer 7

Charging less than 60% commission on a sale

Question 8

The Massachusetts Wetlands Protection Act

Answer 8

Is enforced by local Conservation Commissions AND Requires local approval if work is proposed within the wetlands or 100\ buffer zone

Question 9

Which of the following statements is not true?

Answer 9

Real estate salespersons must maintain a $5,000 bond.

Question 10

When a broker advertises a house for sale, the ad must indicate:

Answer 10

A broker and not a private party is selling

Question 11

Interest on security deposits held by the landlord:

Answer 11

May not be applied by the tenant toward future rents

Question 12

Massachusetts towns may require that:

Answer 12

New housing of four or more units be equipped with spinkler systems.

Question 13

Brokers are required to maintain a deposit in an escrow or trust account until the:

Answer 13

Consummation or termination of the transaction

Question 14

All of the following acts could result in a fine EXCEPT:

Answer 14

Failing to give all parties in a real estate transaction a copy of the purchase and sale agreement

Question 15

Seller A lists property with broker B with stipulation A will get $75,000. All proceeds over that will go to B.

Answer 15

In Massachusetts B could lose his license for taking a net listing

Question 16

Which of the following bond amounts is required of all MA licensed salespeople?

Answer 16

$0

Question 17

According to the Massachusetts Fair Housing Law, it is unlawful to ask prospective tenants questions about:

Answer 17

Neither; Whether they have children under the age of six OR If they are on a rental subsidy program

Question 18

In Massachusetts, a prospective buyer MUST be given a ten-day period to inspect a home for the presence of:

Answer 18

Lead

Question 19

It is a violation under the Massachusetts Fair Housing laws to inquire of a prospective tenant about all of the following EXCEPT:

Answer 19

Children and the Ages of Children

Question 20

Which of the following is prohibited in Massachusetts according to the Board of Registration regulations?

Answer 20

Net listings

Question 21

A licensed Salesperson may:

Answer 21

Advertise a property he owns

Question 22

The Board of Registration in proceeding with a compliant against a licensee:

Answer 22

Must give a minimum of ten days written notice of the hearing to the broker or salesperson

Question 23

Which of the following categories is NOT covered under the Massachusetts Fair Housing Law?

Answer 23

Credit history

Question 24

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

Answer 24

May not show the buyer homes in the other state without a non-resident license

Question 25

In Massachusetts, dower rights become effective

Answer 25

at the moment of a spouse’s death

Question 26

If an agent has actual knowledge he may answer inquiries on all of the following stigmatisms, EXCEPT:

Answer 26

AIDS

Question 27

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

Answer 27

may take the exam and receive an inactive license

Question 28

An enforeceable listing agreement does NOT have to be in writing because the

Answer 28

statute of frauds does not apply to a listing agreement

Question 29

Massachusetts requires the following at closing:

Answer 29

Local Fire Department Smoke Detection Certificate

Question 30

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

Answer 30

can sue the broker under MCPA

Question 31

A broker is legally entitled to a commission if she

Answer 31

Produces a purchaser and a binding contract, and the transaction closes

Question 32

Where are complaint hearings given for Salesperson and Brokers?

Answer 32

At the License Board

Question 33

Mass housing’s ability to adjust income and price limits is determined by:

Answer 33

U.S. Treasury and HUD

Question 34

In Massachusetts, what is the name of the law that is similar to CERCLA or Superfund?

Answer 34

Massachusetts Oil and Hazardous Material Release Prevention and Response Act

Question 35

Upon change of ownership, who inspects smoke detectors?

Answer 35

Fire Department

Question 36

Failure of a broker to post an equal housing opportunity poster could result in:

Answer 36

Shifting the burden of proof as to discrimination from the plaintiff to the broker