| FSBO | For Sale by owner |
| Limited Service Brokers | "unbundle" the traditional full service and will list, advertise, and possibly provide other services but, for a lessor commission, let the seller make appointments, show the property and settle on the price. |
| Fee for service brokers | Encourage sellers to sell their own property and then help close the sale for a fee covering only the service rendered. |
| What needs to be between an Office principle and his Sales people | A written agreement stating the obligations and responsibilities of the relationship |
| Does an independent contractor receive benefits | No |
| The principal is liable for any wrongful acts of his agent while the agent is acting in his behalf under the legal theory of ... | vicarious liability |
| A broker working for both a buyer and a seller on the same property with the informed consent of both parties is considered to be a ... | informed dual agent |
| Special Agent | one authorized to perform only a specified act or to conduct a particular transaction. |
| General Agent | authorized to perform all acts associated with the continued operation of a specific job or a certain business, such as a property manager of an apartment complex. |
| Universal Agency | gives authorization to act for a principal in all areas, such as in a power of attorney. |
| Express Authority | That authority granted an agent explicitly either orally or in writing, such as a listing. |
| Implied Authority | The authority granted an agent to accomplish all things necessary and incidental to the express authority granted but which is not specifically set forth. |
| Apparent Authority | In situations where innocent third persons suffer because of a secret limitation on an agent's powers or because of authority not actually granted but which an agent "appears" to have, the courts impose apparent authority as a matter of law. |
| The three basic classes of zoning are | Residential, commercial, and industrial |
| A non-conforming use is | one which existed prior to enactment or revision of current zoning |
| Sikes' proposed garage would violate a sideline requirement. Which must he obtain? | A variance |
| A zoning ordinance could validly affect which of the following | all of the above |
| A buffer zone is one which | Separates residential areas from other types of zoning |
| The Interstate Land Sales Act regulates | Sale or lease within the state of of out-of-state unimproved subdivision lots |
| A parcel containing dwellings grouped closely together in one section and the rest maintained as open space will likely be a | cluster development |
| A wishes to list a 20,500 square foot lot in a flood plain district with you as his broker. You should: | Check first at town hall to see if the lot can be built upon |
| A developer wishing to fill a small portion of a wetland in order to comply with local zoning should first contact the | Conversation commission |
| Radon gas can be detected by which of the following | Testing |
| The MA Environmental Policy Act | Requires an environmental impact report for conversion of wetlands |
| Development of large tracts of undeveloped land may require the filing of | An environmental impact report |
| In which type property is a Superlien a chronological lien | Residential |
| The presence of asbestos must be disclosed to a prospective buyer | Before signing a P&S |
| A seller cannot discriminate because of children under six in the sale of a property containing | lead paint |
| A's house, completed in December 1970, heated by steam, is being shown by broker B to prospect B to prospect C who has children aged 9,7,5, and 3. Broker B must | Advise C the property may have lead paint |
| Title 5 requires inspection of sewage systems | Within 2 years before a transfer of title |
| Asbestos materials are considered harmful when they are | Emitting dust |
| A failed septic system must be repaired within | 2 years |
| A added fill to his river front without a permit to build a pier. A, transferred suddenly, sold to B. B is | Liable to restore the real estate to its former condition |
| A, for years, changed the crank-case oil in his car and disposed of the old oil on his land in the gully behind his house. In the listing process he casually mentioned this to broker . Broker B should: | Advise A to have the soil examined by an expert |
| If found, lead paint must be removed from which of the following | 5 ft up interior walls and exterior siding |
| An abandoned underground oil storage tank must be | Removed |
