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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Maryland State Law and Regulations | - Advertising and Brokerage Practices - Disciplinary Actions and Enforcement - Licensing Requirements and Procedures - Agency Disclosure and Representation in Maryland - Trust Accounts and Handling Client Funds - Maryland Real Estate Commission (MREC) Rules and Authority - Property Disclosure Requirements (e.g., defects, lead-based paint) |
| National Real Estate Principles | - Financing - Agency Relationships and Duties - Property Ownership and Land Use Controls - Real Estate Calculations - Transfer of Title and Closing Procedures - Contracts - Real Estate Practice and Fair Housing - Valuation and Market Analysis |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
How should all compensation related to real estate transactions be handled according to real estate law?
- A. Compensation can be handled privately between agents without broker involvement.
- B. Salespeople can receive compensation directly from mortgage brokers or title representatives.
- C. Compensation must be channeled through the salesperson's broker.
- D. All compensation must go directly to the salesperson from the seller or buyer.
Correct Answer: C 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
What items go into the seller's credit column and the buyer's debit column when calculating prorations?
- A. The buyer's loan amount
- B. Prepaid property taxes
- C. Unpaid property taxes
- D. Home inspection fees
Correct Answer: B 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
You are meeting with prospective clients in person for the first time. What are you required by law to explain to them?
- A. The types of agency relationships they may have with a real estate professional
- B. Why dual agency is illegal in Maryland
- C. Why you became a real estate licensee and how many years of experience you have
- D. The dangers of lead-based paint in homes built prior to 1978
Correct Answer: A 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
In a real estate transaction, what's a real estate licensee's responsibility regarding household lead hazards for homes built before 1978?
- A. To disclose to buyers that there's lead-based paint in a home
- B. To remind the sellers to disclose the possible presence of lead-based paint to a buyer
- C. To make sure all lead is removed by a licensed professional
- D. To instruct the seller to remediate the lead-based paint
Correct Answer: B 🗳️
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Which of the following best describes the concept of appreciation?
- A. When the value of a property decreases over time.
- B. When losses are deducted from a property's value for tax purposes.
- C. When a property's value increases as a result of capital improvements.
- D. When the value of a property increases over time.
Correct Answer: D 🗳️
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