MA Real estate Class questions from
practice test 1 Q&A
Q 17 With Net lease, tenant doesn't pay: - ANSWER-Under the terms of a net lease
the lessee does not pay the owners mortgage loan payment (debt service).
Q20 A lease clause providing for rent increase/decrease based on agreed index is: -
ANSWER-Escalator clause
Q25 Point and mortgage interest rates are determined by : - ANSWER-The market
(Which is the lender and the borrower..)
q26 To pleade real property as security for a loan without giving up use and
possession is called : - ANSWER-Hypothecation
Deed is signed but before delivery, grantee dies. The deed is considered : -
ANSWER-Void (but heirs can hold seller to P and S.)
Q30 Which of the following does comes under RESPA? A) Lender under office of
Thrift supervision B) Federally-charted bank C) Purchase money mortgage D) HUD
sponsored programs - ANSWER-B) Federally-charted bank C) Purchase money
mortgage D) HUD sponsored programs ---
A) is seller financing which is not covered.
Q31 What is the Torrens Court Used for? - ANSWER-Registering the land (not used
in MA but in Australia)
Q32 Deed stating that a person transfers his rights, if any, in a property is a : -
ANSWER-Quitclaim Deed
Q33 At closing, prepaid taxes are - ANSWER-Credited to the seller for any portion of
the tax year when the seller no longer owns the property
Q34 The transfer of realty by will is a - ANSWER-Devise Transfer
Q36 If a person dies Intestate, the heirs, if any receive by - ANSWER-Statute of
Descent and Distribution
Q38 Which instrument is evidence f debt payment in Full? - ANSWER-Satisfaction
piece of evidence (sent by lender after repayment finished)
Q43 if a real estate license is inactive what must a person do to activate his/her
license again? - ANSWER-Take the required ontinuing Education classes
practice test 1 Q&A
Q 17 With Net lease, tenant doesn't pay: - ANSWER-Under the terms of a net lease
the lessee does not pay the owners mortgage loan payment (debt service).
Q20 A lease clause providing for rent increase/decrease based on agreed index is: -
ANSWER-Escalator clause
Q25 Point and mortgage interest rates are determined by : - ANSWER-The market
(Which is the lender and the borrower..)
q26 To pleade real property as security for a loan without giving up use and
possession is called : - ANSWER-Hypothecation
Deed is signed but before delivery, grantee dies. The deed is considered : -
ANSWER-Void (but heirs can hold seller to P and S.)
Q30 Which of the following does comes under RESPA? A) Lender under office of
Thrift supervision B) Federally-charted bank C) Purchase money mortgage D) HUD
sponsored programs - ANSWER-B) Federally-charted bank C) Purchase money
mortgage D) HUD sponsored programs ---
A) is seller financing which is not covered.
Q31 What is the Torrens Court Used for? - ANSWER-Registering the land (not used
in MA but in Australia)
Q32 Deed stating that a person transfers his rights, if any, in a property is a : -
ANSWER-Quitclaim Deed
Q33 At closing, prepaid taxes are - ANSWER-Credited to the seller for any portion of
the tax year when the seller no longer owns the property
Q34 The transfer of realty by will is a - ANSWER-Devise Transfer
Q36 If a person dies Intestate, the heirs, if any receive by - ANSWER-Statute of
Descent and Distribution
Q38 Which instrument is evidence f debt payment in Full? - ANSWER-Satisfaction
piece of evidence (sent by lender after repayment finished)
Q43 if a real estate license is inactive what must a person do to activate his/her
license again? - ANSWER-Take the required ontinuing Education classes
