Massachusetts Real Estate Exam Questions With
Complete Answers
\.1 acre - Answer-43,560 ft
\.1 chain - Answer-66 ft
\.1 furlong - Answer-660 ft
\.1 link - Answer-7.92 inches;/8 inches
\.1 mile - Answer-5,280 ft
\.1 rod - Answer-16 ft 6 inches
\.1 square mile - Answer-640 acres
\.1031 like kind exchanges - Answer-Defer capital gains taxes
\.2 types of legal life estates - Answer-homestead, dower rights
\.2 types of voluntary liens - Answer-mortgages, installment sales contract
\.2 ways to remove easement appurtenant - Answer-1. combine the 2 lots
2. reason for easement no longer exist
\.203 (b) is for... - Answer-1-4 family home
\.21E Certificate - Answer-Certifies that property is free from contamination
\.3 approaches an appraiser can use - Answer-sales comparison approach
investment value approach
cost approach
\.3 things in a purchase and sales agreement - Answer-- contingencies
- obligations
- date of performance/ closing
\.3 types of depreciation - Answer-physical deterioration, functional obsolescence and
economic obsolescence
\.3 types of land descriptions - Answer-1. Metes and Bounds
,2. Lot, block and subdivision
3. Government rectangular survey
\.3 ways to transfer a lease - Answer-sublet, assign, or novate
\.4 elements of value - Answer-demand, utility, supply, transferability
\.4 essentials of a contract - Answer--offer and acceptance
-consideration
-legal object
-reality of consent and competence
\.4 stage life cycle - Answer-Growth, stability, decline, and revitalization
\.6D certificate - Answer-states if there are outstanding payments before conveying
ownership
\.A homeowner's insurance underwriter would use which of the following when
underwriting a property? - Answer-The Comprehensive Loss Underwriting Exchange
\.A lender is most concerned with which type of value? - Answer-Appraised Value
\.A private men's only golf club owns a small meeting hall that it provides for reservation
by its members. It restricts the use of this property to men only, per club rules. This is: -
Answer-Legal, because the meeting hall is not open to the public and it is not rented for
a profit
\.acceleration clause - Answer-permits the lender to accelerate the maturity date of the
loan if there is default on the terms of the mortgage
\.accretion - Answer-gradual addition by wind or water
\.accrued depreciation - Answer-already occured when property was purchased
\.action of law - Answer-eminent domain, tax sale, bankrupcy
\.actual eviction - Answer-landlords remedy for a lease violation by the tenant
\.actual notice = - Answer-told something specifically
\.addendum - Answer-provides additional information without changing the original
terms
\.adjustable rate - Answer-interest rate adjust based on prime rate
\.Adverse Possession - Answer-legal term for squatters right
, \.adverse possession doesnt apply to - Answer-public or registered land
\.advertising is _________ exempt from fair housing law - Answer-never
\.aeolian soil - Answer-loose sandy soilo deposited by wind
\.Affiliated Business Arrangements (ABAs) - Answer-service providers, such as
mortgage brokers and real estate attorneys, package their services together as an
offering to their clients
\.after the purchase and sales agreement is signed the lendor is going to order this -
Answer-title search
\.ALJ - Answer-HUD, Administrative Law Judge
\.alluvion - Answer-increase land resulting by addition of water
\.alluvium - Answer-sand, gravel or slay deposited by water
\.amendment - Answer-alters the core contractual terms and conditions
\.amortization - Answer-payment of the debt in equal installments
\.anchor tenants - Answer-large tenant that acts as a draw to a shopping center
\.annexation - Answer-personal property becomes real property
- planting a tree
\.another word for concept of ownership - Answer-title
\.anticipation - Answer-expected benefit of real estate ownership
\.any person must file a complaint with the Department of Housing and Urban
Development within how many days of the alleged discrimination - Answer-300 days
\.APOD sheet= - Answer-annual property operating data
\.appraisers - Answer-licenses professionals who estimate value
\.appurtenance - Answer-extension of property (mailbox at end of driveway)
\.Arm's Length Transaction - Answer-open and willing sale between 2 parties
\.asbestos - Answer-used as insulation material and fire retardant
Complete Answers
\.1 acre - Answer-43,560 ft
\.1 chain - Answer-66 ft
\.1 furlong - Answer-660 ft
\.1 link - Answer-7.92 inches;/8 inches
\.1 mile - Answer-5,280 ft
\.1 rod - Answer-16 ft 6 inches
\.1 square mile - Answer-640 acres
\.1031 like kind exchanges - Answer-Defer capital gains taxes
\.2 types of legal life estates - Answer-homestead, dower rights
\.2 types of voluntary liens - Answer-mortgages, installment sales contract
\.2 ways to remove easement appurtenant - Answer-1. combine the 2 lots
2. reason for easement no longer exist
\.203 (b) is for... - Answer-1-4 family home
\.21E Certificate - Answer-Certifies that property is free from contamination
\.3 approaches an appraiser can use - Answer-sales comparison approach
investment value approach
cost approach
\.3 things in a purchase and sales agreement - Answer-- contingencies
- obligations
- date of performance/ closing
\.3 types of depreciation - Answer-physical deterioration, functional obsolescence and
economic obsolescence
\.3 types of land descriptions - Answer-1. Metes and Bounds
,2. Lot, block and subdivision
3. Government rectangular survey
\.3 ways to transfer a lease - Answer-sublet, assign, or novate
\.4 elements of value - Answer-demand, utility, supply, transferability
\.4 essentials of a contract - Answer--offer and acceptance
-consideration
-legal object
-reality of consent and competence
\.4 stage life cycle - Answer-Growth, stability, decline, and revitalization
\.6D certificate - Answer-states if there are outstanding payments before conveying
ownership
\.A homeowner's insurance underwriter would use which of the following when
underwriting a property? - Answer-The Comprehensive Loss Underwriting Exchange
\.A lender is most concerned with which type of value? - Answer-Appraised Value
\.A private men's only golf club owns a small meeting hall that it provides for reservation
by its members. It restricts the use of this property to men only, per club rules. This is: -
Answer-Legal, because the meeting hall is not open to the public and it is not rented for
a profit
\.acceleration clause - Answer-permits the lender to accelerate the maturity date of the
loan if there is default on the terms of the mortgage
\.accretion - Answer-gradual addition by wind or water
\.accrued depreciation - Answer-already occured when property was purchased
\.action of law - Answer-eminent domain, tax sale, bankrupcy
\.actual eviction - Answer-landlords remedy for a lease violation by the tenant
\.actual notice = - Answer-told something specifically
\.addendum - Answer-provides additional information without changing the original
terms
\.adjustable rate - Answer-interest rate adjust based on prime rate
\.Adverse Possession - Answer-legal term for squatters right
, \.adverse possession doesnt apply to - Answer-public or registered land
\.advertising is _________ exempt from fair housing law - Answer-never
\.aeolian soil - Answer-loose sandy soilo deposited by wind
\.Affiliated Business Arrangements (ABAs) - Answer-service providers, such as
mortgage brokers and real estate attorneys, package their services together as an
offering to their clients
\.after the purchase and sales agreement is signed the lendor is going to order this -
Answer-title search
\.ALJ - Answer-HUD, Administrative Law Judge
\.alluvion - Answer-increase land resulting by addition of water
\.alluvium - Answer-sand, gravel or slay deposited by water
\.amendment - Answer-alters the core contractual terms and conditions
\.amortization - Answer-payment of the debt in equal installments
\.anchor tenants - Answer-large tenant that acts as a draw to a shopping center
\.annexation - Answer-personal property becomes real property
- planting a tree
\.another word for concept of ownership - Answer-title
\.anticipation - Answer-expected benefit of real estate ownership
\.any person must file a complaint with the Department of Housing and Urban
Development within how many days of the alleged discrimination - Answer-300 days
\.APOD sheet= - Answer-annual property operating data
\.appraisers - Answer-licenses professionals who estimate value
\.appurtenance - Answer-extension of property (mailbox at end of driveway)
\.Arm's Length Transaction - Answer-open and willing sale between 2 parties
\.asbestos - Answer-used as insulation material and fire retardant
