Principles, Property, and Land Use Practice Question

Question

A client asks whether a fact should be disclosed for the Massachusetts Real Estate Salesperson Exam involving market value and lead paint and consumer disclosure awareness. Which response best applies the rule? (Item 115)

Answer choices

1. A. The issue can be ignored if the parties want to close quickly.
2. B. The rule applies only to commercial transactions and never to residential transactions.
3. C. Identify the probable price under normal market conditions in a way that fits Massachusetts exam practice.
4. D. Client funds may be mixed with business funds if the broker reconciles the account later.

Correct Answer

C. Identify the probable price under normal market conditions in a way that fits Massachusetts exam practice.

Explanation

The correct answer is C because market value requires candidates to identify the probable price under normal market conditions. The Massachusetts reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.

Question details

• Difficulty: medium
• Domain: Principles, Property, and Land Use
• Objective: market value

Practice more

Start Principles, Property, and Land Use practice

Back to Principles, Property, and Land Use