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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Massachusetts State Portion | 33% | - Fair Housing and Consumer Protection
|
| Topic 2: National Portion | 67% | - Valuation and Market Analysis
|
1. The common area of a condominium development is owned by
A) any individuals who pay a prorated share of the taxes and maintenance.
B) its duly elected Board of Directors.
C) those owners who were original owners of the units.
D) all owners as tenants in common.
2. 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
A) real property.
B) an appurtenance.
C) a fixture.
D) personal property.
3. A married couple owns property as tenants by the entirety. If they were to divorce, their ownership would be
A) Joint tenancy.
B) Tenancy in common.
C) Tenancy by the entirety.
D) Tenancy in severalty.
4. A seller informs the listing broker that the wind chime on the back door is broken and the roof leaks when it rains. The listing broker is required to disclose
A) The wind chime.
B) The leaky roof.
C) Nothing.
D) Both the wind chime and the leaky roof.
5. On which of the following must the landlord pay interest when collecting first month, last month, and security deposit?
A) Only if they are deposited in an interest-bearing account
B) Security deposit and last month
C) Last month only
D) First month only
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: B |
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