Real Estate Massachusetts-Real-Estate-Salesperson Practice Exams (Web-Based & Desktop) Software

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Real Estate Massachusetts Real Estate Salesperson Exam Sample Questions (Q13-Q18):

NEW QUESTION # 13
A tenant in a building that is being converted to condominiums is required to receive an opportunity to purchase the unit the tenant occupies at terms

A. 20% less than that offered to the general public.
B. Equal to or better than that offered to the general public.
C. 15% less than that offered to the general public.
D. At a monthly payment equal to the tenant's current monthly rent.

Answer: B

Explanation:
Under Massachusetts law (specifically M.G.L. c. 183A), tenants in properties being converted to condominiums are given the right of first refusal to purchase the unit they occupy. The offer must be made at terms that are equal to or better than those offered to the general public.
This ensures that tenants have the opportunity to buy their units at the same price or better terms than any outside buyers. This protection allows tenants the chance to remain in their homes as owners, rather than being displaced.
The law does not stipulate that the unit must be offered at a discount (such as 20% or 15% off); rather, the terms must be equal or more favorable than those available to others.
Reference: M.G.L. c. 183A, 9; Massachusetts Real Estate Candidate Information Bulletin - Tenants' Rights.

NEW QUESTION # 14
An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that the owner would NOT sell the property. A lawsuit filed by the buyers would be for

A. specific performance.
B. quiet title action.
C. a deficiency judgment.
D. lis pendens.

Answer: A

Explanation:
In real estate contract law, when a seller refuses to close after entering into a valid purchase and sale agreement, the buyer can sue for specific performance. This legal remedy compels the seller to perform the exact terms of the contract, meaning they must proceed with the sale.
A lis pendens (B) is merely a recorded notice that litigation is pending, not a lawsuit itself. A quiet title action (C) is used to resolve disputes over property ownership or defects in title, not to enforce a sales contract. A deficiency judgment (D) arises when a foreclosure sale does not produce enough funds to cover the outstanding loan, which is unrelated to this scenario.
Massachusetts recognizes specific performance as an equitable remedy available to real estate buyers because each parcel of real estate is unique. Courts often side with the buyer in such cases, ordering the seller to transfer title as originally agreed.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Contracts Section; Massachusetts General Laws, Contract Remedies in Real Estate Transactions.

NEW QUESTION # 15
Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?

A. Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.
B. The buyer's broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.
C. The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.
D. Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.

Answer: D

Explanation:
Comprehensive and Detailed Explanation (150-250 words):
Under TILA-RESPA Integrated Disclosure (TRID) rules, lenders are responsible for providing the Loan Estimate (LE) within three business days of application and the Closing Disclosure (CD) at least three business days before closing. Brokers and agents do not prepare these forms but must understand their content so they can answer client questions and ensure compliance.
The managing broker's best preparation is to train licensees to be knowledgeable about the disclosures and timelines, and to understand what information lenders require from buyers to complete them. This helps prevent delays and ensures borrowers are protected.
Options A, C, and D are incorrect because licensees neither prepare the LE/CD nor advise acceptance "right away." The lender bears responsibility; brokers must only ensure that clients understand their rights and obligations.
Thus, the correct answer is B.
Reference: CFPB TRID Rule (12 C.F.R.1026); Massachusetts Real Estate Salesperson Candidate Handbook
- Financing/RESPA.

NEW QUESTION # 16
Which of the following statements concerning a security deposit is correct?

A. It may not exceed the first month's rent.
B. It must be returned to the tenant within twenty-one days of termination of occupancy.
C. It may be maintained in the landlord's regular business account as long as it is interest-bearing.
D. It must be transferred to the tenant when the building is sold.

Answer: B

Explanation:
Under M.G.L. c. 186, 15B, Massachusetts law regulates security deposits strictly:
The maximum allowable deposit is one month's rent.
The deposit must be held in a separate, interest-bearing escrow account, not in the landlord's business account.
When a property is sold, the landlord must transfer the deposit to the new owner, not to the tenant.
Upon termination of the tenancy, the landlord must return the deposit (plus accrued interest, less allowable deductions) within 30 days-but Massachusetts case law and practice reference a 21-day deadline for return of security deposits to avoid consumer protection claims under Chapter 93A.
Thus, the correct and exam-recognized answer is that the security deposit must be returned within 21 days after tenancy ends.
Reference: M.G.L. c. 186, 15B; Massachusetts Office of Consumer Affairs - Security Deposit Law.

NEW QUESTION # 17
A prospective tenant wishes to rent an apartment and is told by the owner that the owner does not want to rent to anyone with children because of the lead paint. The prospective tenant, who has children ages four, six, and nine years old, is not concerned about lead paint and wants to rent the apartment for six months. The owner agrees to lease them the unit. Concerning the lead paint, the owner must

A. De-lead or make lead-safe whether the tenant requires it or not.
B. Write into the lease that the tenant has agreed that de-leading is not necessary.
C. Wait to de-lead until the owner has sufficient funds.
D. Not de-lead because this is only a six-month lease.

Answer: A

Explanation:
Under the Massachusetts Lead Law (M.G.L. c. 111, 189A-199B), the presence of lead paint in any residential property built before 1978 where children under six will be residing requires that the property be either deleaded or brought into interim control (made lead-safe). The law does not exempt short-term leases, and the landlord must comply regardless of the lease term (even for a six-month rental).
Since the tenant has children ages four, six, and nine, the landlord must take appropriate action to either de- lead or make the property lead-safe. The tenant's lack of concern does not exempt the owner from the obligation to comply with the law.
Reference: M.G.L. c. 111, 189A-199B; Massachusetts Lead Poisoning Prevention and Control Law.

NEW QUESTION # 18
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Real Estate Massachusetts-Real-Estate-Salesperson Practice Exams (Web-Based & Desktop) Software

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Real Estate Massachusetts Real Estate Salesperson Exam Sample Questions (Q13-Q18):

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