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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Homeowners can take several actions related to pest infestations, but which of the following actions should be left to licensed pest management professionals?

A) Removing moisture from the home
B) Looking for signs of an infestation
C) Applying pesticides
D) Installing a vapor barrier

2. Between commercial and residential properties, which type of property is depreciated for a longer time?

A) Commercial income-producing properties are depreciated longer (39 years) than residential income- producing properties (27.5 years) are.
B) Both commercial and residential income-producing properties are depreciated according to the same schedule.
C) Residential income-producing properties are depreciated longer (39 years) than commercial income- producing properties (27.5 years) are.
D) You cannot depreciate income-producing properties.

3. Which of the following is a method a real estate licensee uses to determine an appropriate listing price range?

A) Comparative market analysis
B) Market process
C) Appraisal
D) Proforma

4. Edgar is in the process of selling his home in a short sale. What's a short sale?

A) A sale that fails to receive a high enough bid at auction, and then falls to the bank's ownership
B) The forced sale of a home due to the borrower defaulting on the mortgage loan
C) A property sale that occurs in less than one week
D) The sale of a property at an amount less than is owed, not including closing costs

5. Dan is buying Chuck's property, which is listed with Nevin's brokerage. Who are the parties to the exclusive right-to-sell listing agreement?

A) Dan, Chuck, and Nevin
B) Chuck and Nevin's brokerage
C) Dan and Nevin
D) Dan and Chuck

Solutions: