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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. Which of the following is used in the cost approach when estimating the value of improvements?

A) The price per square foot of comparable properties.
B) Location, available financing, and depreciation.
C) How much it would cost to build a similar building at today's cost.
D) The assessed value of the property including the land.

2. If a deed creating a tenancy in common does NOT state the fractional interest of each co-owner, it

A) becomes a joint tenancy.
B) is presumed each owner has an equal interest.
C) is void.
D) must be determined by a majority vote of the tenants.

3. An appraisal made by a certified appraiser is required

A) when heirs receive property.
B) before any property settlement in a divorce.
C) when the buyer is using an FHA loan to purchase.
D) before real property can transfer from one owner to another.

4. A landlord may require that a disabled tenant

A) pay double the usual $500 security deposit.
B) remove the wheelchair ramp from the apartment upon vacating the unit.
C) not install grab bars in the tile shower if drilling holes in the tile is required.
D) pay an additional fee for using the swimming pool to cover the added insurance cost.

5. The common area of a condominium development is owned by

A) any individuals who pay a prorated share of the taxes and maintenance.
B) those owners who were original owners of the units.
C) all owners as tenants in common.
D) its duly elected Board of Directors.

Solutions: