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Real Estate Massachusetts-Real-Estate-Salesperson Certification Exam Cost - Reliable Massachusetts-Real-Estate-Salesperson Test Blueprint

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Real Estate Massachusetts Real Estate Salesperson Exam Sample Questions (Q51-Q56):

NEW QUESTION # 51
A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A. The first offer received
B. All three of the offers
C. The offer with the highest sale price
D. The offer most favorable to the seller, including price and all terms

Answer: B

Explanation:
A Massachusetts real estate licensee has a fiduciary duty of full disclosure and obedience to the client (the seller). That means the listing broker must present all offers promptly and in full to the seller, regardless of the order received or whether one seems more favorable.
The Massachusetts Board of Registration of Real Estate Brokers and Salespersons emphasizes that withholding offers or "screening" them based on price, terms, or timing constitutes a violation of fiduciary duty and can result in disciplinary action. The seller has the exclusive right to decide which offer to accept, reject, or counter. The broker's responsibility is only to deliver all offers in a timely fashion.
Therefore, at the 7 p.m. appointment, the listing broker must present all three offers that had been received. It would be improper to withhold later offers or to select the "best" offer unilaterally.
Reference: Massachusetts Real Estate Salesperson Candidate Information Bulletin; 254 CMR 3.00:
Obligations to the Client; National Association of REALTORS Code of Ethics, Article 1.

NEW QUESTION # 52
A licensee listed a property that had an unfinished garage. The licensee received an offer subject to the garage being finished. Was a contractual obligation created?

A. Yes, because both the seller and buyer offered to enter into a contract.
B. No, because contractual obligations must be in writing and notarized.
C. Yes, because a definite and certain offer was made by the buyer.
D. No, because the seller has not accepted the offer.

Answer: D

Explanation:
A contract is only created when there is an offer, acceptance, and consideration. In this case, the buyer made an offer subject to a condition (the garage being finished). However, until the seller accepts the offer, no contractual obligation exists. The mere existence of an offer-even if definite and certain-does not bind either party until acceptance has been communicated.
Massachusetts real estate exam law and practice stress that the offer to purchase is not binding on the seller until accepted. Once the seller accepts, it becomes a valid and enforceable contract, provided that all other legal elements (consideration, competent parties, lawful purpose, and in writing per the Statute of Frauds) are satisfied. The requirement for notarization is not necessary for a valid sales contract in Massachusetts; notarization is only required in the case of deeds or certain recorded instruments.
Thus, since the seller had not yet accepted, there was no contract-only a pending offer with a condition.
Reference: Massachusetts Real Estate Salesperson Exam Content Outline - Contracts; Massachusetts General Laws Chapter 259 (Statute of Frauds).

NEW QUESTION # 53
A tenant in a building that is being converted to condominiums is required to receive an opportunity to purchase the unit the tenant occupies at terms

A. Equal to or better than that offered to the general public.
B. 20% less than that offered to the general public.
C. At a monthly payment equal to the tenant's current monthly rent.
D. 15% less than that offered to the general public.

Answer: A

Explanation:
Under Massachusetts law (specifically M.G.L. c. 183A), tenants in properties being converted to condominiums are given the right of first refusal to purchase the unit they occupy. The offer must be made at terms that are equal to or better than those offered to the general public.
This ensures that tenants have the opportunity to buy their units at the same price or better terms than any outside buyers. This protection allows tenants the chance to remain in their homes as owners, rather than being displaced.
The law does not stipulate that the unit must be offered at a discount (such as 20% or 15% off); rather, the terms must be equal or more favorable than those available to others.
Reference: M.G.L. c. 183A, 9; Massachusetts Real Estate Candidate Information Bulletin - Tenants' Rights.

NEW QUESTION # 54
A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?

A. $693
B. $1,260
C. $1,386
D. $231

Answer: A

Explanation:

Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Math & Commissions.

NEW QUESTION # 55
Standard title insurance would protect a buyer

A. for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.
B. if after closing, the HOA placed a lien on the property for the previous owner's unpaid dues.
C. in a purchase where the buyer had knowledge of a shed violating setback requirements.
D. when the seller has forged an ex-partner's signature on the deed.

Answer: D

Explanation:
Comprehensive and Detailed Explanation (150-250 words):
Standard title insurance protects against defects in title that existed prior to closing and were not discovered in the public record. Covered risks include:
Forged deeds or signatures.
Fraud in the chain of title.
Undisclosed heirs.
Mistakes in recording.
Therefore, if a seller forged a co-owner's (ex-partner's) signature on the deed, title insurance would cover the buyer.
B: Post-closing liens (such as new HOA liens) are not covered.
C: Known defects or issues (shed violating setbacks) are not covered.
D: Occupancy issues are outside the scope of standard title coverage.
Thus, the correct answer is A.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Transfer of Title; Title Insurance.

NEW QUESTION # 56
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