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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
1. What type of violation are you committing when you fail to include a material fact or make false or misleading advertising statements?
A) Misrepresentation
B) Improper delivery of instruments
C) Improper brokerage commission
D) Conflict of interest
2. Homeowners can take several actions related to pest infestations, but which of the following actions should be left to licensed pest management professionals?
A) Installing a vapor barrier
B) Removing moisture from the home
C) Looking for signs of an infestation
D) Applying pesticides
3. A buyer representation agreement is similar to which document used when representing a seller?
A) A listing agreement
B) A seller disclosure
C) A consumer notice
D) A seller's net sheet
4. What might the financial implications be if a buyer needed to use individual retirement account funds toward a down payment?
A) Funds can be used if they go toward the borrower's first-time homeownership in the last five years.
B) Income taxes are waived on IRA distributions for homeownership.
C) First-time homebuyers can use up to $10,000 of their IRA funds penalty free for down payment and closing costs.
D) The funds are taxable, and an early withdrawal penalty fee will apply.
5. Which statement best represents how dual agency is impacted by teams in Maryland?
A) The dual agent may be part of the same team as the ICAs.
B) The broker may designate ICAs from within a team, with the broker or office manager serving as the dual agent.
C) The broker may serve as an ICA along with a team member.
D) Dual agency isn't allowed within real estate teams.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
By Devin
