Real Estate Licensing Massachusetts-Real-Estate-Salesperson Exam Dumps

Comprehensive and Detailed Explanation (150--250 words):

A VA-guaranteed loan allows veterans to purchase with little or no down payment. Once the loan is made, the veteran deals directly with the lender --- not the VA. The VA guarantees repayment to the lender if default occurs.

A: Down payments, if required, are paid to the lender, not the VA.

B: Veterans may obtain multiple VA loans in a lifetime, depending on eligibility and entitlement.

C: VA loans allow prepayment without penalty.

D: VA loans are assumable, meaning another veteran (or even non-veteran, with lender approval) may assume the existing financing, often a benefit if the loan has a favorable interest rate.

Correct answer: D.

Comprehensive and Detailed Explanation (150--250 words):

The CAN-SPAM Act of 2003 governs commercial email. Key requirements include:

Emails must not use misleading subject lines (A).

Must include the sender's valid physical postal address (B).

Must provide a clear, simple way to opt out of future emails (C).

Opt-out requests must be honored within 10 business days, not 180 days.

Thus, advising that it will take 180 days to remove an email address is not compliant.

Correct answer: D.

Comprehensive and Detailed Explanation (150--250 words):

Federal law (FIRREA, 1989) and HUD regulations require that FHA and VA loans be supported by an appraisal from a state-licensed or certified appraiser. The purpose is to determine whether the property meets minimum standards and supports the loan amount.

A: Appraisals are not required for all property transfers, only certain financed ones.

B: Inheritances may require valuations for estate tax purposes, but not necessarily certified appraisals.

D: Divorce settlements may require appraisals for division of assets, but this is not federally mandated.

Thus, the correct answer is C.

Comprehensive and Detailed Explanation (150--250 words):

Zoning ordinances are enacted at the local (municipal) level---cities and towns---under police power delegated by the state. While states pass enabling legislation and can set broad land-use frameworks, the actual creation and administration of zoning (district maps, permitted uses, dimensional regulations, variances, special permits) is done by local authorities such as city or town councils and implemented by local planning and zoning boards. Federal and regional bodies may influence land use through funding or environmental regulations, but they do not enact local zoning ordinances. On the Massachusetts exam, candidates are expected to know that municipalities adopt zoning bylaws/ordinances to promote public health, safety, and welfare, and administer them via local boards, inspectors, and appeals processes. Thus, the correct answer is D.

An exclusive right-to-sell listing guarantees that the broker will receive a commission no matter who finds the buyer --- even if the owner sells the property themselves. If the broker had an exclusive right-to-sell listing with the owner, the broker is entitled to a commission if the property sells during the listing period, regardless of whether the broker was involved in the sale or not.

Exclusive agency listing only entitles the broker to a commission if they or another agent find the buyer; if the owner sells the property themselves, they do not owe the broker a commission.

Open listing allows the owner to sell the property themselves without owing the broker a commission unless the broker finds the buyer.

Net listing is illegal in Massachusetts as it could encourage brokers to manipulate the sale price for their own benefit.

Thus, the broker is entitled to a commission if the listing was an exclusive right-to-sell.