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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. _____ 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) Surrounding
B) Substituting
C) Bracketing
D) Bridging

2. In a real estate transaction, what's a real estate licensee's responsibility regarding household lead hazards for homes built before 1978?

A) To instruct the seller to remediate the lead-based paint
B) To remind the sellers to disclose the possible presence of lead-based paint to a buyer
C) To make sure all lead is removed by a licensed professional
D) To disclose to buyers that there's lead-based paint in a home

3. Which type of antitrust violation involves two or more businesses conspiring against another business?

A) Price fixing
B) Group boycotting
C) Market allocation
D) Tie-in arrangement

4. In accordance with the Maryland Property Condition Disclosure Law, when is the seller required to provide the Maryland Residential Property Disclosure and Disclaimer Statement to the buyer?

A) On or before entering into a contract of sale with the buyer.
B) Only if the buyer asks for it.
C) Only before entering into a contract of sale with the buyer.
D) No more than 24 hours after both parties have signed the agreement.

5. Who is typically responsible for paying the commission to a listing agent in a real estate transaction?

A) The buyer and the licensee
B) The buyer
C) The buyer and the seller
D) The seller

Solutions: