MRES Massachusetts Real Estate Salesperson Exam - Set 5 - Part 1
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 1: In a typical Massachusetts sale, the seller conveys title using the customary deed, which carries limited covenants warranting only against claims arising through the grantor's own acts. Which deed is customary in Massachusetts?
Question 2: A buyer wants the strongest possible deed protection, with the grantor warranting title against all claims, including those arising before the grantor owned the property. Which deed provides this broadest protection?
Question 3: A grantor wants to transfer whatever interest he may have in a parcel without making any promises or warranties about the title at all. Which deed accomplishes this with no covenants?
Question 4: When real estate is sold and the deed is recorded in Massachusetts, a state transfer tax based on the sale price must be paid. Who customarily bears responsibility for paying this deeds excise?
Question 5: A buyer wants protection in case a hidden defect in the chain of title, such as a forged prior deed or an undisclosed lien, surfaces after closing. Which product provides this protection?
Question 6: A Massachusetts purchase contract requires the seller to deliver title that is free of undisclosed defects and acceptable for transfer, often described as good and clear record and which kind of title?
Question 7: A buyer records her deed at the registry of deeds promptly after closing. Recording the deed gives the public legal notice of her ownership. This type of notice provided by the public records is called what?
Question 8: A buyer signs the purchase contract weeks before closing but wonders when ownership of the property actually transfers to her. Generally, at what point does title pass from seller to buyer?
Question 9: At a Massachusetts residential closing, the deed and mortgage must be reviewed and executed and the funds directed by a particular professional whose participation is required. Who must substantively conduct this closing?
Question 10: A builder sells a brand-new home with no express warranty. Massachusetts law still recognizes the builder impliedly promises it was built in a workmanlike manner and is fit to live in. What is this called?
Question 11: A Massachusetts homeowner falls seriously behind on mortgage payments, and the lender prepares to sell the property without going to court, using the power of sale in the mortgage. This process is best described as what?
Question 12: A homeowner owes more on her mortgage than the home is worth. The lender agrees to accept a sale price less than the full loan balance. This arrangement is called what?
Question 13: A person dies owning a home, and the personal representative of the estate needs to sell it. Before selling, the representative often must obtain authority from a particular court. Which court grants that authority?
Question 14: The federal Fair Housing Act prohibits housing discrimination based on a defined list of protected characteristics. Which of the following is one of the protected classes under the federal act?
Question 15: Under a federal Fair Housing Act exemption, an owner who lives in a small multifamily building and rents the other units may be exempt. The exemption applies to owner-occupied buildings of how many units?
Question 16: An agent guides a minority buyer only toward certain neighborhoods and steers him away from others based on the racial makeup of the areas. This prohibited practice is known as what?
Question 17: An agent tells homeowners that families of a certain background are moving in and urges them to sell quickly before values drop, hoping to profit from the listings. This illegal practice is called what?
Question 18: A lender refuses to approve mortgage loans for properties located in certain neighborhoods based on the racial or ethnic composition of those areas. This discriminatory lending practice is known as what?
Question 19: A tenant who uses a wheelchair asks permission to install grab bars and a ramp at her own expense to make the unit usable. Under fair housing law, this request is for what?
Question 20: A landlord advertises an apartment with the phrase no Section 8 and refuses applicants who would pay rent with a housing voucher. How does Massachusetts fair housing law treat this conduct?
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