MA real estate salesperson National
Exam Questions and Answers
Severence - ANSWER-When real property is converted to personal property.
Merge of titles - ANSWER-Cannot create a legal easement
Government surveys - ANSWER-Cannot be used in 13 origins
Water is scarce - ANSWER-The doctrine of prior appropriation most applys to states
where
Conditional use permit or zoning variance - ANSWER-When a land owner wishes to
build a grocery store inresidencial area, what is needed to build?
Law suit for inverse condemnation - ANSWER-May only be brought to court by yue
home owner
Square footage - ANSWER-Competitive market analysis takes into consideration
First house is the cheapest - ANSWER-Three similar house's are sold in the same
area which house sells for the least amount?
Small houses sell for most - ANSWER-When small houses are located around larger
houses
Selling to a secondary market - ANSWER-A formal appraisal will always be required
Six story office building - ANSWER-Which locations would a parking lot sell for the
highest?
FHA - ANSWER-Functions most like an insurance company
Reverse mortgage - ANSWER-Works best for an older couple trying to tap into the
equity of their home.
Truth in lending act - ANSWER-Prepayment penalties and rebates can not appear in
Regulation Z - ANSWER-Regulates advertisements
Helping buyers select a lender - ANSWER-Recommend a mortgage banker instead
of a mortgage broker
Acceleration clause - ANSWER-This permits the lender to demand immediate
payment of the entire note
An exclusive right to sell listing - ANSWER-Belongs to the employing broker only.
Exam Questions and Answers
Severence - ANSWER-When real property is converted to personal property.
Merge of titles - ANSWER-Cannot create a legal easement
Government surveys - ANSWER-Cannot be used in 13 origins
Water is scarce - ANSWER-The doctrine of prior appropriation most applys to states
where
Conditional use permit or zoning variance - ANSWER-When a land owner wishes to
build a grocery store inresidencial area, what is needed to build?
Law suit for inverse condemnation - ANSWER-May only be brought to court by yue
home owner
Square footage - ANSWER-Competitive market analysis takes into consideration
First house is the cheapest - ANSWER-Three similar house's are sold in the same
area which house sells for the least amount?
Small houses sell for most - ANSWER-When small houses are located around larger
houses
Selling to a secondary market - ANSWER-A formal appraisal will always be required
Six story office building - ANSWER-Which locations would a parking lot sell for the
highest?
FHA - ANSWER-Functions most like an insurance company
Reverse mortgage - ANSWER-Works best for an older couple trying to tap into the
equity of their home.
Truth in lending act - ANSWER-Prepayment penalties and rebates can not appear in
Regulation Z - ANSWER-Regulates advertisements
Helping buyers select a lender - ANSWER-Recommend a mortgage banker instead
of a mortgage broker
Acceleration clause - ANSWER-This permits the lender to demand immediate
payment of the entire note
An exclusive right to sell listing - ANSWER-Belongs to the employing broker only.
