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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Why might a property owner avoid paying capital gains tax on a property sale?

A) He did a tax-deferred exchange.
B) He didn't file his taxes correctly.
C) He didn't convey the property.
D) He didn't sell the property.

2. What does a lender charge a borrower for using the lender's money?

A) Principal
B) Interest
C) Usury
D) Discount point

3. Which of the following is one of your duties as a listing agent?

A) Hold confidential all facts from the buyer, even material facts.
B) Promote your client's interests throughout the entire transaction.
C) Disclose material facts to the seller only.
D) Secure a profit for your client.

4. Shelly buys Mark's house, which is still in an option period with Monique. Monique decides to exercise her option after Shelly moves in. What will happen?

A) Nothing will happen, as long as Shelly has a fully executed sales contract with Mark.
B) Mark will have to refund Monique's option fee.
C) Shelly and Mark must form a new option agreement.
D) Shelly will have to sell the house to Monique.

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

Solutions: