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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A motel is the subject of an appraisal and it is determined that a rerouting of a county highway has limited customer access to the motel. This is an example of

A) functional obsolescence.
B) regression.
C) economic obsolescence.
D) landlocked property.

2. The need to protect the public's health and safety against poor construction practices has resulted in the enactment of

A) zoning ordinances.
B) restrictive deed conditions.
C) zoning committees.
D) building codes.

3. An advertisement emphasizes information meant to appeal to a particular ethnic or national group in an effort to maintain the character of the neighborhood. From the viewpoint of the federal Fair Housing Act, this could constitute a violation known as

A) blockbusting.
B) redlining.
C) steering.
D) panic selling.

4. When lending standards are tightened, lenders typically require

A) a higher loan-to-value ratio.
B) a lower loan-to-value ratio.
C) a balloon payment after 5 years.
D) a waiver of the Equal Credit Opportunity Act.

5. Real estate taxes that are paid in advance are prorated on the closing statement as

A) a credit to buyer; a debit to seller.
B) a debit to buyer; a credit to seller.
C) no entry to buyer; a debit to seller.
D) no entry to buyer; a credit to seller.

Solutions: