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Updated: Jul 03, 2026
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1. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?
A) nonexclusive right-to-lease
B) nonexclusive buyer-agency
C) exclusive agency representation
D) exclusive right to sell
2. Two top licensees in a small town have agreed not to show listings of a new real estate firm charging a low commission rate to sellers. This behavior is a violation of the
A) Sherman Antitrust Act.
B) federal fair housing laws.
C) Equal Credit Opportunity Act.
D) Blue-Sky laws.
3. 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 transferred to the tenant when the building is sold.
C) It may be maintained in the landlord's regular business account as long as it is interest-bearing.
D) It must be returned to the tenant within twenty-one days of termination of occupancy.
4. A buyer makes an offer on a property and asks the Seller's broker to recommend a good home inspector. The Seller's broker may
A) Provide the complete list of home inspectors prepared by the Commonwealth of Massachusetts.
B) Recommend a specific home inspector.
C) Provide a list of no fewer than 20 licensed home inspectors in the county where the property is located.
D) Provide business cards of local home inspectors.
5. A seller informs the listing broker that the wind chime on the back door is broken and the roof leaks when it rains. The listing broker is required to disclose
A) Nothing.
B) The wind chime.
C) Both the wind chime and the leaky roof.
D) The leaky roof.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |
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