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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| National Real Estate Principles | - Contracts - Transfer of Title and Closing Procedures - Agency Relationships and Duties - Valuation and Market Analysis - Financing - Real Estate Calculations - Real Estate Practice and Fair Housing - Property Ownership and Land Use Controls |
| Maryland State Law and Regulations | - Agency Disclosure and Representation in Maryland - Trust Accounts and Handling Client Funds - Property Disclosure Requirements (e.g., defects, lead-based paint) - Maryland Real Estate Commission (MREC) Rules and Authority - Licensing Requirements and Procedures - Advertising and Brokerage Practices - Disciplinary Actions and Enforcement |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
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
Correct Answer: D 🗳️
Explanation: Only visible for Actual4Exams members. You can sign-up / login (it's free).
What might the financial implications be if a buyer needed to use individual retirement account funds toward a down payment?
- A. First-time homebuyers can use up to $10,000 of their IRA funds penalty free for down payment and closing costs.
- B. Funds can be used if they go toward the borrower's first-time homeownership in the last five years.
- C. The funds are taxable, and an early withdrawal penalty fee will apply.
- D. Income taxes are waived on IRA distributions for homeownership.
Correct Answer: A 🗳️
Explanation: Only visible for Actual4Exams members. You can sign-up / login (it's free).
What type of agency exists because of the actions and behavior of the parties?
- A. Behavioral agency
- B. Action agency
- C. Express agency
- D. Implied agency
Correct Answer: D 🗳️
Explanation: Only visible for Actual4Exams members. You can sign-up / login (it's free).
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. Shelly will have to sell the house to Monique.
- B. Mark will have to refund Monique's option fee.
- C. Shelly and Mark must form a new option agreement.
- D. Nothing will happen, as long as Shelly has a fully executed sales contract with Mark.
Correct Answer: A 🗳️
Explanation: Only visible for Actual4Exams members. You can sign-up / login (it's free).
Renae showed a property to Shannon, a buyer client, then to another client later that week. The second client made an offer and the seller accepted. The next day, Shannon called Renae to make an offer on the property and was angry that Renae showed it to another buyer. Did Shannon have a case?
- A. No. Agency law only requires that the first buyer be given one day to make an offer before showing a property to another client.
- B. Yes. Renae should've asked Shannon if she wanted to make an offer before showing the property to another client.
- C. Yes. Agency law prohibits Renae from showing the same property to two buyer clients.
- D. No. Renae hasn't violated agency law by showing the same property to two separate buyer clients.
Correct Answer: D 🗳️
Explanation: Only visible for Actual4Exams members. You can sign-up / login (it's free).
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