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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| National Real Estate Principles | - Valuation and Market Analysis - Real Estate Practice and Fair Housing - Property Ownership and Land Use Controls - Transfer of Title and Closing Procedures - Financing - Contracts - Real Estate Calculations - Agency Relationships and Duties |
| Maryland State Law and Regulations | - Agency Disclosure and Representation in Maryland - Trust Accounts and Handling Client Funds - Advertising and Brokerage Practices - Disciplinary Actions and Enforcement - Licensing Requirements and Procedures - Maryland Real Estate Commission (MREC) Rules and Authority - Property Disclosure Requirements (e.g., defects, lead-based paint) |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
Where should a licensee typically verify the latest regulations and updates regarding real estate practices?
- A. With the supervising brokerage
- B. On the Real Estate Commission's website
- C. With a co-worker of the licensee
- D. With the licensee themselves
Correct Answer: B 🗳️
Explanation: Only visible for TorrentExam members. You can sign-up / login (it's free).
Which statement best represents how dual agency is impacted by teams in Maryland?
- A. Dual agency isn't allowed within real estate teams.
- B. The dual agent may be part of the same team as the ICAs.
- C. The broker may designate ICAs from within a team, with the broker or office manager serving as the dual agent.
- D. The broker may serve as an ICA along with a team member.
Correct Answer: C 🗳️
Explanation: Only visible for TorrentExam members. You can sign-up / login (it's free).
Which of the following is the best definition of a covenant between a lessor and lessee?
- A. An agreement or promise made between the parties
- B. A rent escalation
- C. An addendum to a contract added after it's signed
- D. A provision for which neither party to a contract is willing to compromise
Correct Answer: A 🗳️
Explanation: Only visible for TorrentExam members. You can sign-up / login (it's free).
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. Escheat
- B. Act of waste
- C. Reversionary interest
- D. Estate at sufferance
Correct Answer: B 🗳️
Explanation: Only visible for TorrentExam members. You can sign-up / login (it's free).
Why would licensees use the MAAP method?
- A. To calculate their gross commission for a transaction
- B. To report another licensee for an ethics violation
- C. To determine which property facts they need to disclose
- D. To establish whether or not a fair housing violation has occurred
Correct Answer: C 🗳️
Explanation: Only visible for TorrentExam members. You can sign-up / login (it's free).
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