Maryland-Real-Estate-Salesperson by Real Estate Actual Free Exam Questions And Answers

Question 1

What's the purpose of a listing agreement in Maryland?

A. To bind the seller to one agent

B. To guarantee a sale

C. To specify the agreement between the listing broker and the seller

D. To guarantee payment for the listing agent

Discussion 0

Correct Answer: C Vote an answer

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Question 2

At its most basic level, which type of antitrust violation is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point?

A. Group boycotting

B. Price fixing

C. Market allocation

D. Tie-in arrangement

Discussion 0

Correct Answer: B Vote an answer

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Question 3

Which zoning practice involves changing the zoning of an area to allow for less intensive development, such as reducing the number of units or building size?

A. Reduction zoning

B. Bulk zoning

C. Density-reduction zoning

D. Downzoning

Discussion 0

Correct Answer: D Vote an answer

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Question 4

When must informed consent for dual agency be obtained?

A. As the situation arises

B. In the first face-to-face meeting with a potential client

C. At the time when the licensee and customer have entered into an agent/client relationship

D. Prior to entering into a contract for a specific transaction.

Discussion 0

Correct Answer: D Vote an answer

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Question 5

Which of the following refers to the increase in the value of an asset that is subject to taxation?

A. Depreciation

B. Deferment

C. Equity

D. Taxable gains

Discussion 0

Correct Answer: D Vote an answer

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Question 6

Which of the following is an instrument that's used to convey property ownership?

A. Mortgage

B. Title

C. Deed

D. Lien

Discussion 0

Correct Answer: C Vote an answer

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Question 7

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

A. The buyer

B. The buyer and the licensee

C. The buyer and the seller

D. The seller

Discussion 0

Correct Answer: D Vote an answer

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Question 8

A first-time home buyer needs to take out a loan to help finance his purchase. What's the first thing he must do once the seller has accepted his offer and the contract has been finalized?

A. Request the settlement date be delayed 30 days

B. Check his credit score

C. Pay off all his credit cards

D. Submit a written application for financing

Discussion 0

Correct Answer: D Vote an answer

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Question 9

What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

A. The agent should pay the bonus to the broker.

B. The agent must disclose the bonus to any buyers they are working with on the transaction.

C. The agent can accept the bonus without any disclosure requirements.

D. The agent should keep the bonus confidential and not inform the broker.

Discussion 0

Correct Answer: B Vote an answer

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Real Estate Maryland Real Estate Salesperson Examination - Maryland-Real-Estate-Salesperson Exam Practice Test

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