19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
MA Real Estate Exam Study Guide (2025) EXAM
QUESTIONS AND ALL CORRECT ANSWERS 100%
SOLVED AND GUARANTEED SUCCESS
Save
Terms in this set (400)
An estimation of a property's value, usually prepared
Appraisal
by a professional who is licensed in this field.
The business of bringing people together in a real
Brokerage
estate transaction.
The types of properties that include office spaces,
Commerical shopping centers, stores, theaters, hotels, parking
facilities, etc.
The term for the construction of improvements upon
Development
the land.
Insurance agents are required to obtain one of these
Elevation Certificate on any property before issuing quotes for flood
insurance.
The pledging of real property and collateral for the
Financing repayment of a loan through a mortgage or deed of
trust.
This agency can fine and withdraw its insurance from
Federal Deposit Insurance
lenders that do not carry flood insurance on required
Corporation
mortgages.
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,19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
This type of homeowner's insurance policy covers
"rising water" problems such as a burst water main,
overloaded drains, and melting snow. It is usually an
optional add-on policy that becomes effective 30
Flood Insurance
days after purchase, unless the property is in a
specific area and is collateral for a federal loan, in
which case it is a mandatory policy and effective
immediately.
This is the basic form of a homeowner's hazard
insurance policy, and the default policy when a
HO1
property has been empty for any length of time. It
covers fire, lightning, hail, and other perils.
This form of a homeowner's hazard insurance policy
covers more than the basic form, but not as much as
HO2
the special form. It is often available for second
homes.
This special form homeowner's hazard insurance
policy offers the most coverage for the most
HO3 reasonable price, and is the preferred policy on
primary residences. It covers both real and personal
property.
This form of a hazard insurance policy is designed for
HO6 condominiums and can be customized to comply with
the condo association's bylaws.
This renter's insurance policy is similar to the
homeowner's insurance policy carried on primary
HO4
residences, but doesn't include coverage on real
property owned by someone else.
Additions to property that increase its value or
Improvements enhance its appearance. It can include buildings,
fixtures, and landscaping.
This insurance policy is the reverse of a renter's policy
Landlord's policy
and covers only the real property.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 2/51
,19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
A broad term for a person or company hired to
Property Management maintain and manage a property on behalf of its
owners, and who are to maximize the owner's returns.
These people provide clients with competent,
Real Estate Counsellors independent real estate advice without representing
them as an agent.
Properties in this area are required by federal law to
Special Flood Hazard
have special insurance as part of any federally-
Area
backed mortgages.
The process of splitting a single property into smaller
Subdivision
parcels.
The type of properties that include single and multi-
Residential
family homes.
The types of properties that include warehouses,
Industrial factories, power plants, and other manufacturing
areas, even if the property has a storefront attached.
The types of properties that include farmlands,
Agricultural
timberlands, orchards, and ranches.
The types of properties that include churches,
Special Purpose
schools, cemeteries, and government-held lands.
The setting where real property is bought and sold
Real Estate Market
and prices are established.
A real estate market defined by property type and/or
Submarket
geographic location.
A professional real estate organization that requires
National Association of members to uphold a specific set of ethics and pay
Realtors dues. In turn, the members can call themselves
Realtors.
The situation where demand for real property is
Seller's Market greater than the supply, which causes sale prices to
rise and builders to become more motivated to build.
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, 19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
This characteristic of real property is important
Location because a parcel's value is impacted by surrounding
land uses.
This factor determines the quantity and type of
housing in demand in a particular area. It evaluates
Demographics
family sizes, ratio of adults to children, number of
senior citizens, family incomes, lifestyles, etc.
This term refers to both a physical article and the
Property
rights and interests involved in its use of ownership.
A "bundle" of legal rights associated with owned
property. These rights include possession, control of
Rights of Ownership
the property (within legal bounds), enjoyment of the
property, exclusion, and disposition.
Anything that is used with land for its benefits.
Appurtenance Examples include subsurface, air, and water rights, as
well as gardens and certain easements.
The right to legally ban other people from entering
Exclusion
your property without your consent.
These rights are for the use of space above a piece of
Air Rights real property. They can be transferred and
subdivided.
These rights are for the use of anything found
beneath a piece of real property, such as oil, coal, or
gas. These rights can be transferred separately from
Subsurface Rights
the property itself, and include an implied easement
that allows the owner access to the property so that
they can exercise their rights.
The earth's surface down to the center of the earth
and upwards to infinity ("heaven to hell"), including all
Land
things attached by nature. Also known by the term
real estate.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 4/51
MA Real Estate Exam Study Guide (2025) EXAM
QUESTIONS AND ALL CORRECT ANSWERS 100%
SOLVED AND GUARANTEED SUCCESS
Save
Terms in this set (400)
An estimation of a property's value, usually prepared
Appraisal
by a professional who is licensed in this field.
The business of bringing people together in a real
Brokerage
estate transaction.
The types of properties that include office spaces,
Commerical shopping centers, stores, theaters, hotels, parking
facilities, etc.
The term for the construction of improvements upon
Development
the land.
Insurance agents are required to obtain one of these
Elevation Certificate on any property before issuing quotes for flood
insurance.
The pledging of real property and collateral for the
Financing repayment of a loan through a mortgage or deed of
trust.
This agency can fine and withdraw its insurance from
Federal Deposit Insurance
lenders that do not carry flood insurance on required
Corporation
mortgages.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 1/51
,19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
This type of homeowner's insurance policy covers
"rising water" problems such as a burst water main,
overloaded drains, and melting snow. It is usually an
optional add-on policy that becomes effective 30
Flood Insurance
days after purchase, unless the property is in a
specific area and is collateral for a federal loan, in
which case it is a mandatory policy and effective
immediately.
This is the basic form of a homeowner's hazard
insurance policy, and the default policy when a
HO1
property has been empty for any length of time. It
covers fire, lightning, hail, and other perils.
This form of a homeowner's hazard insurance policy
covers more than the basic form, but not as much as
HO2
the special form. It is often available for second
homes.
This special form homeowner's hazard insurance
policy offers the most coverage for the most
HO3 reasonable price, and is the preferred policy on
primary residences. It covers both real and personal
property.
This form of a hazard insurance policy is designed for
HO6 condominiums and can be customized to comply with
the condo association's bylaws.
This renter's insurance policy is similar to the
homeowner's insurance policy carried on primary
HO4
residences, but doesn't include coverage on real
property owned by someone else.
Additions to property that increase its value or
Improvements enhance its appearance. It can include buildings,
fixtures, and landscaping.
This insurance policy is the reverse of a renter's policy
Landlord's policy
and covers only the real property.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 2/51
,19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
A broad term for a person or company hired to
Property Management maintain and manage a property on behalf of its
owners, and who are to maximize the owner's returns.
These people provide clients with competent,
Real Estate Counsellors independent real estate advice without representing
them as an agent.
Properties in this area are required by federal law to
Special Flood Hazard
have special insurance as part of any federally-
Area
backed mortgages.
The process of splitting a single property into smaller
Subdivision
parcels.
The type of properties that include single and multi-
Residential
family homes.
The types of properties that include warehouses,
Industrial factories, power plants, and other manufacturing
areas, even if the property has a storefront attached.
The types of properties that include farmlands,
Agricultural
timberlands, orchards, and ranches.
The types of properties that include churches,
Special Purpose
schools, cemeteries, and government-held lands.
The setting where real property is bought and sold
Real Estate Market
and prices are established.
A real estate market defined by property type and/or
Submarket
geographic location.
A professional real estate organization that requires
National Association of members to uphold a specific set of ethics and pay
Realtors dues. In turn, the members can call themselves
Realtors.
The situation where demand for real property is
Seller's Market greater than the supply, which causes sale prices to
rise and builders to become more motivated to build.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 3/51
, 19/06/2025, 09:45 MA Real Estate Exam Study Guide (2025) EXAM QUESTIONS AND ALL CORRECT ANSWERS 100% SOLVED AND GUARANT…
This characteristic of real property is important
Location because a parcel's value is impacted by surrounding
land uses.
This factor determines the quantity and type of
housing in demand in a particular area. It evaluates
Demographics
family sizes, ratio of adults to children, number of
senior citizens, family incomes, lifestyles, etc.
This term refers to both a physical article and the
Property
rights and interests involved in its use of ownership.
A "bundle" of legal rights associated with owned
property. These rights include possession, control of
Rights of Ownership
the property (within legal bounds), enjoyment of the
property, exclusion, and disposition.
Anything that is used with land for its benefits.
Appurtenance Examples include subsurface, air, and water rights, as
well as gardens and certain easements.
The right to legally ban other people from entering
Exclusion
your property without your consent.
These rights are for the use of space above a piece of
Air Rights real property. They can be transferred and
subdivided.
These rights are for the use of anything found
beneath a piece of real property, such as oil, coal, or
gas. These rights can be transferred separately from
Subsurface Rights
the property itself, and include an implied easement
that allows the owner access to the property so that
they can exercise their rights.
The earth's surface down to the center of the earth
and upwards to infinity ("heaven to hell"), including all
Land
things attached by nature. Also known by the term
real estate.
https://quizlet.com/1055531588/ma-real-estate-exam-study-guide-2025-exam-questions-and-all-correct-answers-100-solved-and-guaranteed-succes… 4/51
