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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Down the Road Brokerage has an in-house transaction situation and has appointed one of its licensees to represent the buyer client and one to represent the seller client. The two licensees are acting as what type of agents?

A) Both are acting as intra-company agents.
B) The buyer agent is acting as a general agent and the seller agent is acting as an assigned agent.
C) Both are acting as special agents.
D) The buyer agent is acting as a special agent and the seller agent is acting as an appointed agent.

2. [Listing Agreements and Buyer Representation]Properly pricing a property that is entering the market will

3. In terms of encumbrances, what's a license?

A) Permission without possession, interest, or ownership
B) Process by which a non-owner gains possession of a property after a certain amount of time
C) Permission to do something on another's land while also possessing an interest or ownership in the land
D) Permission to alter someone's land or property

4. Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?

A) Depreciation
B) Taxable gains
C) Insurance expenses
D) Transfer tax

5. Which of the following is an action that real estate licensees may take without practicing law illegally?

A) Write addenda that cover unfamiliar or unusual circumstances.
B) Create their own real estate forms.
C) Interpret legal consequences of specific actions.
D) Use existing forms that an attorney has reviewed.

Solutions: