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Real Estate Massachusetts Real Estate Salesperson Sample Questions:
1. Broker N has five affiliated salespersons. On Monday at 10:00 a.m., Salesperson J submitted an offer to purchase from a prospective buyer. The offer price was $300,000. An hour later, Salesperson R submitted an offer of $296,000. However, Broker N held the second offer until the seller rejected the first offer. Broker N's conduct in this situation is
A) Permissible as long as both salespeople share a commission on either of the offers accepted by the seller.
B) Not permissible because a broker must present all offers to the principal forthwith.
C) Not permissible because a broker must inform all potential buyers of existing offers.
D) Permissible as long as both salespeople knew of Broker N's action.
2. The common area of a condominium development is owned by
A) all owners as tenants in common.
B) any individuals who pay a prorated share of the taxes and maintenance.
C) its duly elected Board of Directors.
D) those owners who were original owners of the units.
3. Two top licensees in a small town have agreed not to show listings of a new real estate firm charging a low commission rate to sellers. This behavior is a violation of the
A) Blue-Sky laws.
B) Sherman Antitrust Act.
C) federal fair housing laws.
D) Equal Credit Opportunity Act.
4. Licensee A and Licensee B work for a principal broker for ABC Realty. For Licensee A, the principal broker supervises the work as a listing/buyer's agent, collects commissions, and pays out based on their commission split agreement. Licensee A works from home and attends training meetings at the office. Licensee B works 8 a.m. to 4 p.m. in the ABC Realty office for relocations, showing local properties to relocating clients.
Licensee B is licensed to show homes and submits offers for purchase from individuals who are relocating but is paid by salary based on hours worked, with a bonus for production. What are Licensee A and B's relationships with ABC Realty?
A) Licensee A is an employee and Licensee B is a contractor.
B) Licensee A is a contractor and Licensee B is an employee.
C) Licensee A and Licensee B are both employees.
D) Licensee A and Licensee B are both contractors.
5. A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when
A) the client does not ask for other recommendations.
B) the licensee does not know any of the other title companies in the area.
C) it is in the best interest of the client.
D) the licensee discloses the interest in the company to the client.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: D |
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