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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Supply and demand determine the competitive environment. Which of the following is a true statement?

A) When there are more homes on the market, buyers can't be picky.
B) When there are more homes on the market, it drives prices upward.
C) When there are more homes on the market, buyers hold the negotiating power.
D) When there are more homes on the market, sellers can demand more for their property.

2. In order for an owner-occupant of a building with rental units to reject applicants based on sex, marital status, gender identity, and/or sexual orientation, they must not own more than how many rental units in a building?

A) Five
B) Four
C) Three
D) Two

3. 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) The sale of a property at an amount less than is owed, not including closing costs
D) A sale that fails to receive a high enough bid at auction, and then falls to the bank's ownership

4. How can a real estate licensee legally discuss contract clauses with a client without practicing law?

A) By describing the legal implications of contract clauses in detail
B) By advising the client on landlord/tenant responsibilities
C) By drafting new contract language to suit the client's needs
D) By explaining the general purpose of the contract clause without interpreting its legal impact

5. Why would a buyer want to know whether any additions or alterations were made to a property?

A) So the buyer can use the same contractor for additional additions and alterations
B) So the buyer can decide whether a price reduction is in order
C) So the buyer can remove these items prior to closing
D) So the buyer can determine if permits were pulled

Solutions: