Real Estate Maryland Real Estate Salesperson Examination - Maryland-Real-Estate-Salesperson FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Which one of these describes a deed?

A. Abstract of title B. Ownership document C. Promissory note D. Recording fee

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Correct Answer: B Vote an answer

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Question 2

In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?

A. A special agent B. A designated agent C. A general agent D. A universal agent

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Correct Answer: A Vote an answer

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Question 3

Before you sign an exclusive right to sell agreement with a seller, what must you do?

A. List the property. B. Market the property. C. Provide a pro forma. D. Explain the option of the exclusive agency agreement.

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Correct Answer: D Vote an answer

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Question 4

To effect a transfer of title by deed, ______ must occur.

A. Delivery and acceptance B. Judicial validation C. Exchange of money D. Deed review

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Correct Answer: A Vote an answer

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Question 5

The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects, is called ______.

A. Real estate B. Land C. Real property D. Estate

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Correct Answer: B Vote an answer

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Question 6

Appraiser Niles uses ________ to determine a range of values based on comparing a subject property to comparable sales. He makes sure to use some comparables that lack features of his subject property, and others that have even more desirable features, to balance out the comparison.

A. Substituting B. Bracketing C. Competition D. Correlation

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Correct Answer: B Vote an answer

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Question 7

Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

A. After the seller accepts the buyer's offer B. At your first scheduled face-to-face meeting with the buyer about the seller's property C. After the buyer deposits the earnest money in escrow D. When the buyer asks you to represent them as well

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Correct Answer: B Vote an answer

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Question 8

Why does HUD test for housing discrimination?

A. To educate the public B. To uncover hidden discrimination C. To punish blatant discrimination D. To create revenue through fines

Discussion 0

Correct Answer: B Vote an answer

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Question 9

Which loan type is a fixed-rate mortgage where the monthly principal payments increase over time, according to a set schedule?

A. Blanket B. Negative amortization C. Pledged account D. Growing equity

Discussion 0

Correct Answer: D Vote an answer

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Question 10

Which of these is an example of a lot-and-block description?

A. "Beginning at the iron pin 30 paces from the center of the brook that runs across the road southwesterly from the dwelling ..." B. 123 Roanoke Street Any Town, ST 98765 C. Lot 6 of Block 3 of the East Subdivision plat as recorded in Map Book 18, Page 11 at the Recorder of Deeds D. S ½ SE ¼ NW ¼ Section 2 ...

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Correct Answer: C Vote an answer

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Question 11

When must informed consent for dual agency be obtained?

A. At the time when the licensee and customer have entered into an agent/client relationship B. In the first face-to-face meeting with a potential client C. As the situation arises D. Prior to entering into a contract for a specific transaction.

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Correct Answer: D Vote an answer

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Question 12

In a real estate transaction, who does a licensee represent?

A. A client B. A principal or customer C. A customer D. A client or customer

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Correct Answer: A Vote an answer

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Question 13

What is the typical fine for a violation under certain real estate regulations?

A. $10,000 per violation B. $1,000 per violation C. $25,000 per violation D. $2,500 per violation

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Correct Answer: A Vote an answer

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