Q13. An offer of $569,000 is verbally accepted by a seller. Two hours later an offer of $589,000 is presented to the seller, which the seller accepts in writing. Based on the above situation the first buyer is

Q14. A broker may withdraw money from the broker’s escrow account

Q15. A licensee must provide disclosure of licensed status when acting as a principal if

Q16. 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

Q17. The Massachusetts Consumer Protection Act (M.G.L. c. 93A)

Q18. A broker maintains a trust or escrow account. A $10,000 earnest money deposit is received from a buyer and deposited in the account. Several weeks later and prior to closing, the broker withdraws $7,000 from the account and puts it in an operating account. This transaction is

Q19. A client makes an offer on a residential property and provides a check for $2,000 as earnest money. The client instructs his buyer agent to hold the check for five days so it will clear the bank. What should the agent do with the check?

Q20. Which of the following activities may result in a fine from the Massachusetts Commission Against Discrimination (MCAD) against a licensee?

Q21. Which of the following will NOT be considered relevant if HUD investigates a prospective home buyer’s allegation of discriminatory treatment by a licensee in a brokerage office?

Q22. The common area of a condominium development is owned by

Q23. A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75 points.
How much money does the buyer need up front to make the purchase?

Q24. An appraisal made by a certified appraiser is required

Q25. Which of the following statements about the leasing of apartments in Massachusetts is correct?

Q26. The Massachusetts Consumer Protection Act (M.G.L. c. 93A) does NOT apply to which of the following persons?

Q27. Which of the following acts does NOT require notifying the Board of Registration?

Q28. 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

Q29. Quality Supermarkets has taken occupancy of a retail building and has a long-term lease. As part of their fit- up, they bolt to the floor their meat and dairy coolers, shelves, and check-out stands.
When Quality Supermarkets vacates the property at the end of the lease, will Quality Supermarkets be legally entitled to remove these fixtures?

Q30. A seller wants $120,000 for a home and still owes $20,000 of the original loan at 7% interest. The current interest rate is 12%. A buyer can pay $60,000 down and wants to carry a mortgage that includes the seller’s
$20,000 existing mortgage and the remaining $40,000 for a total of $60,000 at an interest rate of 10%. What kind of mortgage loan is this?

Q31. A married couple owns property as tenants by the entirety. If they were to divorce, their ownership would be

Q32. A 2-year lease on a property has expired. The owner permits the tenant to remain in the house while a new lease is being negotiated. Which of the following types of interest does the tenant now have?

Q33. What type of relationship does NOT require confidentiality?

Q34. 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

Q35. Under Housing and Urban Development guidelines, when an advertisement includes the phrase “walk to bus- stop,” the advertisement is