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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as ________.

A) Double dipping
B) Mutual agreement
C) Informed consent
D) Representation by proxy

2. Down the Road Brokerage has an in-house transaction situation and has appointed one of its licensees to represent the buyer client and one to represent the seller client. The two licensees are acting as what type of agents?

A) The buyer agent is acting as a general agent and the seller agent is acting as an assigned agent.
B) Both are acting as special agents.
C) Both are acting as intra-company agents.
D) The buyer agent is acting as a special agent and the seller agent is acting as an appointed agent.

3. Which of the following is a material fact that must be disclosed to prospective buyers?

A) A house has had more than ten owners.
B) A lead-based paint disclosure must be included since the home was built in 1957.
C) A previous owner had HIV.
D) A previous homeowner had Ebola.

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

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

5. Which of the following is an example of a development cost?

A) Lower unemployment
B) Crime rates
C) Local density zoning rules
D) Increased demand on infrastructure

Solutions: