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Real Estate Massachusetts Real Estate Salesperson Exam Sample Questions (Q32-Q37):

NEW QUESTION # 32
Which of the following is true about mortgage assumptions?

Answer: D

Explanation:
Comprehensive and Detailed Explanation (150-250 words):
When a mortgage is assumed, the buyer takes over the existing loan obligations. The buyer typically becomes personally liable for the debt if the lender approves the assumption, but the seller remains liable unless formally released by the lender through a novation.
Thus, the seller "may or may not be released" depending on lender approval. The assumption is different from a "subject to" transaction, where the buyer makes payments but is not personally liable.
A is incorrect: the buyer is not relieved of liability-they are assuming it.
C is incorrect: a new note is not signed; the existing obligation is assumed.
D is incorrect: transfer of a deed does not release liability; only lender approval/novation does.
Therefore, the correct answer is B.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Financing; Assumptions vs.
"Subject To" Mortgages.


NEW QUESTION # 33
On which of the following must the landlord pay interest when collecting first month, last month, and security deposit?

Answer: A

Explanation:
Under M.G.L. c. 186, 15B, landlords in Massachusetts must pay interest on both the security deposit and the last month's rent if these funds are held for more than one year. The interest must be paid annually and credited to the tenant's account, unless the tenant and landlord have a written agreement stating otherwise.
The first month's rent is not subject to interest requirements. The landlord must hold the security deposit in a separate, interest-bearing account, and the interest accrues for the benefit of the tenant.
Therefore, the landlord must pay interest on both the security deposit and last month's rent.
Reference: M.G.L. c. 186, 15B; Massachusetts Real Estate Candidate Information Bulletin - Tenant Rights.


NEW QUESTION # 34
An escrow or trust account is often held by a lender to pay

Answer: B

Explanation:
Comprehensive and Detailed Explanation (150-250 words):
Lenders often require borrowers to establish an escrow (or impound) account as part of their monthly mortgage payment. The lender collects a portion of property taxes and hazard insurance premiums along with principal and interest each month. When taxes or insurance are due, the lender pays them from the escrow account.
This protects the lender by ensuring the property remains insured and free of unpaid tax liens, both of which could threaten the lender's collateral.
A (mortgage payments): Paid directly as P&I, not through escrow.
B (interest): Already part of monthly mortgage payments, not escrow.
C (bank invoices): Escrow is never used for the bank's expenses.
Thus, the correct answer is D: property taxes and insurance payments.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Financing; RESPA Escrow Rules.


NEW QUESTION # 35
The Massachusetts Consumer Protection Act (M.G.L. c. 93A) does NOT apply to which of the following persons?

Answer: B

Explanation:
The Massachusetts Consumer Protection Act (M.G.L. c. 93A) prohibits "unfair or deceptive acts or practices in the conduct of any trade or commerce." This law applies to persons engaged in business transactions, including brokers, salespersons, and builders selling homes.
However, a private homeowner selling their own home without engaging in trade or commerce is exempt.
Courts have consistently held that Chapter 93A applies to persons "engaged in business" and does not cover purely private, non-business transactions such as a homeowner selling their own single residence.
Thus, while brokers, agents, and even builders are covered by c. 93A (even if they build/sell fewer than ten homes), a private owner selling without brokerage or business involvement is exempt.
Reference: M.G.L. c. 93A, § 1; Massachusetts Real Estate Candidate Information Bulletin - Consumer Protection Law.


NEW QUESTION # 36
An owner has a freestanding cabinet that was custom-built to fit an alcove of the living room. When the owner sells the home, the cabinet will be best described as

Answer: C

Explanation:
A fixture is personal property that has been permanently attached or adapted to real estate so that it becomes part of the real property. Courts apply the MARIA test (Method of attachment, Adaptation, Relationship, Intention, Agreement) to determine fixture status.
In this case, the cabinet was custom-built to fit an alcove, making it uniquely adapted to the property. Even though it is freestanding, its adaptation to the structure makes it a fixture.
Real property (A): the land and everything permanently attached, which includes fixtures, but the more precise term here is "fixture." Personal property (B): movable and not adapted to the home.
Appurtenance (D): rights and benefits that run with the land (e.g., easements).
Thus, the best description is C: fixture.
Reference: Massachusetts Real Estate Salesperson Candidate Handbook - Property Ownership; Fixtures vs.
Personal Property.


NEW QUESTION # 37
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