MA Real Estate Exam General Questions
with Verified Solutions
Broker ✔✔acts as a point of contact between two or more people in negotiating the sale,
purchase, or rental of property
Slesperson ✔✔Conducts brokerage activities on behalf of the broker. The broker is responsible
for the salesperson's acts.
property management ✔✔a person or company hired to maintain and manage property on behalf
of its owner
home inspection ✔✔A profession that allows practicioners to combine their interest in real estate
with their professional skills in the construction trades or in engineering.
NAR ✔✔National Association of Realtors. Must be a member of this to be a realtor.
Types of Real Property ✔✔Residential, commercial, Industrial, agricultural, special purpose.
,Supply and Demand ✔✔When supply increases and demand remains stable, prices go down.
When demand increases and supply remains stable, prices go up.
factors affecting real estate supply ✔✔labor force, construction costs, government controls, gov
financial policies.
factors affecting real estate demand ✔✔population, employment, wage levels.
Guidelines for becoming a broker ✔✔Must be a salesperson for at least one year, with a
minimum of 25 hours a week work. Must have 30 hours of additional class and post a 15000
dollar assurity bond that costs 50 dollars and is good for up to 5 years. Can do it over 2 years.
Land ✔✔the earths surface extending downward to the center of earth and upward to infinity,
including permanent objects such as trees and water.
Real Estate ✔✔Land at, above, and below the earth's surface, plus things permanently attached
to it whether artificial or natural.
,Real Property ✔✔the interests, benefits, and rights that are automatically included in the
ownership of land and real estate.
Bundle of legal rights ✔✔posession, control, quiet enjoyment, exclusion, disposition.
Title ✔✔the right to ownership of land by the persons bundle of legal rights and evidence of that
ownership by the deed. title refers to ownership of real property deed refers to the document
through which title is transferred.
appurtenence ✔✔a right or privledge attached to a property such as a parking space, usually
conveys to the new owner
Personal Property ✔✔Sometimes referred to as personalty, all property that can be owned.
chattel ✔✔financing on personal property
emblements ✔✔corn, apple tree, crops, also known as fructus industriales.
, severance ✔✔when an item of real property becomes personal property. For example if you cut a
branch off of a tree and make a 2x4.
annexation ✔✔converting personal property into real property
fixture ✔✔personal property that has been affixed to land or a building to become real property
intent to fixture ✔✔how permanent is it attached, is it being used as personal or real property and
have the parties agreed on whether the item is real or personal property in an offer to purchase.
trade fixtures ✔✔real property used in the course of business
4 economic characteristics of real estate ✔✔scarcity,improvements, permanence of investment,
location.
3 physical characteristics of real estate. ✔✔Immobility, indestructibility, uniqueness. This is also
the definition of land.
with Verified Solutions
Broker ✔✔acts as a point of contact between two or more people in negotiating the sale,
purchase, or rental of property
Slesperson ✔✔Conducts brokerage activities on behalf of the broker. The broker is responsible
for the salesperson's acts.
property management ✔✔a person or company hired to maintain and manage property on behalf
of its owner
home inspection ✔✔A profession that allows practicioners to combine their interest in real estate
with their professional skills in the construction trades or in engineering.
NAR ✔✔National Association of Realtors. Must be a member of this to be a realtor.
Types of Real Property ✔✔Residential, commercial, Industrial, agricultural, special purpose.
,Supply and Demand ✔✔When supply increases and demand remains stable, prices go down.
When demand increases and supply remains stable, prices go up.
factors affecting real estate supply ✔✔labor force, construction costs, government controls, gov
financial policies.
factors affecting real estate demand ✔✔population, employment, wage levels.
Guidelines for becoming a broker ✔✔Must be a salesperson for at least one year, with a
minimum of 25 hours a week work. Must have 30 hours of additional class and post a 15000
dollar assurity bond that costs 50 dollars and is good for up to 5 years. Can do it over 2 years.
Land ✔✔the earths surface extending downward to the center of earth and upward to infinity,
including permanent objects such as trees and water.
Real Estate ✔✔Land at, above, and below the earth's surface, plus things permanently attached
to it whether artificial or natural.
,Real Property ✔✔the interests, benefits, and rights that are automatically included in the
ownership of land and real estate.
Bundle of legal rights ✔✔posession, control, quiet enjoyment, exclusion, disposition.
Title ✔✔the right to ownership of land by the persons bundle of legal rights and evidence of that
ownership by the deed. title refers to ownership of real property deed refers to the document
through which title is transferred.
appurtenence ✔✔a right or privledge attached to a property such as a parking space, usually
conveys to the new owner
Personal Property ✔✔Sometimes referred to as personalty, all property that can be owned.
chattel ✔✔financing on personal property
emblements ✔✔corn, apple tree, crops, also known as fructus industriales.
, severance ✔✔when an item of real property becomes personal property. For example if you cut a
branch off of a tree and make a 2x4.
annexation ✔✔converting personal property into real property
fixture ✔✔personal property that has been affixed to land or a building to become real property
intent to fixture ✔✔how permanent is it attached, is it being used as personal or real property and
have the parties agreed on whether the item is real or personal property in an offer to purchase.
trade fixtures ✔✔real property used in the course of business
4 economic characteristics of real estate ✔✔scarcity,improvements, permanence of investment,
location.
3 physical characteristics of real estate. ✔✔Immobility, indestructibility, uniqueness. This is also
the definition of land.
