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

Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Isabelle just took on a new listing, in which the owner is selling because a new freeway is being built right behind the house. The owner is concerned about the noise and other activity the freeway will bring, but doesn't want prospective buyers to know this. Which action best demonstrates good faith in this scenario?

A) Isabelle takes the listing, tells the seller she won't discuss the new freeway, then discloses this fact to prospective buyers, since it's material to the property.
B) Isabelle decides not to take the listing, since the property will be impossible to sell.
C) Isabelle tells the owner that this is a material fact related to the property that must be disclosed to prospective buyers, or Isabelle will not take the listing.
D) Isabelle takes the listing and, per her client's instructions, doesn't tell prospective buyers about the planned road construction.

2. Which of the following best describes the concept of appreciation?

A) When losses are deducted from a property's value for tax purposes.
B) When the value of a property decreases over time.
C) When the value of a property increases over time.
D) When a property's value increases as a result of capital improvements.

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

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

4. What's the purpose of a home inspection?

A) To determine a listing price for the property
B) To determine whether the purchase price reflects the property's value
C) To get a true picture of a property's condition
D) To help licensees uncover red flags

5. What instruments are commonly used to secure the purchase of real property?

A) Mortgage and promissory note
B) Mortgage and lease
C) Mortgage and deed of trust
D) Deed of trust and promissory note

Solutions: