Real Estate Maryland-Real-Estate-Salesperson : Maryland Real Estate Salesperson Examination

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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What is it called when a person who has possession of a property through a life estate abuses the property or allows it to deteriorate?

A) Act of waste
B) Reversionary interest
C) Estate at sufferance
D) Escheat

2. What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

A) The agent must disclose the bonus to any buyers they are working with on the transaction.
B) The agent should pay the bonus to the broker.
C) The agent should keep the bonus confidential and not inform the broker.
D) The agent can accept the bonus without any disclosure requirements.

3. If you take gross income and deduct operating expenses, what do you get?

A) Profit
B) Potential gross income
C) Net operating income
D) Effective gross income

4. A property is conveyed to an individual until that individual's death, when the property will be conveyed to another party. What type of estate is this?

A) Life estate
B) Homestead estate
C) Leasehold estate
D) Fee simple estate

5. Which type of events are generally on a title insurance policy's schedule of exceptions?

A) Claims from an owner with an unrecorded deed
B) Liens or encumbrances that aren't in the public record
C) Claims that were filed in the public record before a title insurance policy's effective date
D) Mechanic's liens filed prior to a title insurance policy's effective date

Solutions: