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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| National Real Estate Principles | - Transfer of Title and Closing Procedures - Valuation and Market Analysis - Real Estate Practice and Fair Housing - Agency Relationships and Duties - Property Ownership and Land Use Controls - Real Estate Calculations - Contracts - Financing |
| Maryland State Law and Regulations | - Licensing Requirements and Procedures - Disciplinary Actions and Enforcement - Property Disclosure Requirements (e.g., defects, lead-based paint) - Trust Accounts and Handling Client Funds - Maryland Real Estate Commission (MREC) Rules and Authority - Advertising and Brokerage Practices - Agency Disclosure and Representation in Maryland |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
At the end of this month, Evy will have been paying rent on her ground lease for 15 years. She's decided to give 30 days' notice to the landowner that she plans to buy out the lease. What type of ground lease does Evy have?
- A. Irredeemable ground lease
- B. Irregular ground lease
- C. Redeemable ground lease
- D. Regular ground lease
Correct Answer: C 🗳️
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Between commercial and residential properties, which type of property is depreciated for a longer time?
- A. Both commercial and residential income-producing properties are depreciated according to the same schedule.
- B. Commercial income-producing properties are depreciated longer (39 years) than residential income- producing properties (27.5 years) are.
- C. Residential income-producing properties are depreciated longer (39 years) than commercial income- producing properties (27.5 years) are.
- D. You cannot depreciate income-producing properties.
Correct Answer: B 🗳️
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What does REO stand for?
- A. Rental equal opportunity
- B. Rental equality ownership
- C. Real estate-owned
- D. Real estate office
Correct Answer: C 🗳️
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Homes built before 1978 may have what environmental hazard in their paint?
- A. Asbestos
- B. Arsenic
- C. Radiation
- D. Lead
Correct Answer: D 🗳️
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In accordance with the Maryland Property Condition Disclosure Law, when is the seller required to provide the Maryland Residential Property Disclosure and Disclaimer Statement to the buyer?
- A. No more than 24 hours after both parties have signed the agreement.
- B. Only if the buyer asks for it.
- C. On or before entering into a contract of sale with the buyer.
- D. Only before entering into a contract of sale with the buyer.
Correct Answer: C 🗳️
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