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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Property ownership for an indeterminable length of time is an example of what form of estate?

A) Leasehold
B) Freehold
C) Homestead
D) Periodic

2. _____ is a process in which an appraiser determines a probable range of values for a property by comparing a group of comparable sales to the subject. The appraiser attempts to include both superior and inferior units of comparison, such as age and transaction price.

A) Substituting
B) Bracketing
C) Bridging
D) Surrounding

3. What is one drawback of sub-agency from a listing broker's standpoint?

A) Both parties must agree to dual agency.
B) There aren't any drawbacks.
C) The listing broker will have to pay two agents' commissions.
D) The listing broker and listing agent can be liable for the sub-agent's actions.

4. Which of the following is an example of positive misrepresentation?

A) It results in a positive outcome.
B) An inadvertent error occurred.
C) An agent knowingly made a false statement that caused harm.
D) An agent made an unintentional error that resulted in a positive outcome.

5. What might the financial implications be if a buyer needed to use individual retirement account funds toward a down payment?

A) First-time homebuyers can use up to $10,000 of their IRA funds penalty free for down payment and closing costs.
B) Income taxes are waived on IRA distributions for homeownership.
C) The funds are taxable, and an early withdrawal penalty fee will apply.
D) Funds can be used if they go toward the borrower's first-time homeownership in the last five years.

Solutions: