Exam Name: Maryland Real Estate Salesperson Examination
Certification Provider: Real Estate
Corresponding Certification: Maryland Real Estate
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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Maryland State Law and Regulations | - Trust Accounts and Handling Client Funds - Property Disclosure Requirements (e.g., defects, lead-based paint) - Advertising and Brokerage Practices - Agency Disclosure and Representation in Maryland - Maryland Real Estate Commission (MREC) Rules and Authority - Licensing Requirements and Procedures - Disciplinary Actions and Enforcement |
| National Real Estate Principles | - Property Ownership and Land Use Controls - Valuation and Market Analysis - Real Estate Practice and Fair Housing - Contracts - Real Estate Calculations - Transfer of Title and Closing Procedures - Financing - Agency Relationships and Duties |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
What's a foreclosure?
- A. The forced sale of a property due to the borrower defaulting on the mortgage loan
- B. A sale that fails to receive a high enough bid at auction and then falls to the bank's ownership
- C. A property sale that occurs in less than one week
- D. The sale of a property when the market value of the home is less than what is owed, plus closing cost
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Jorge is a dual agent in a single-license dual agency situation. He owes his clients all of the following fiduciary duties EXCEPT.
- A. disclosure
- B. reasonable skill and care
- C. undivided loyalty
- D. honesty
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Which photograph of a home for sale should not be published for public viewing?
- A. A photo of the master bathroom that also shows the photographer's arm reflected in the mirror
- B. A photo of the billiards room that reveals the owner's collection of antique guns
- C. A wide-angle photo of the renovated kitchen that makes the area look larger than it really is
- D. An exterior photo showcasing the pool and outdoor kitchen/bar area
Explanation: Only visible for ITCertMagic members. You can sign-up / login (it's free).
________ can be defined as everything that's not real property.
- A. Private property
- B. Land property
- C. Personal property
- D. Real estate
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Manny has a client who wants to purchase a commercial building. Manny doesn't have any experience negotiating commercial purchases. Which action should Manny take to demonstrate his good faith and most ethical behavior toward his client?
- A. Tell the client about his inexperience, but say that he'd like to continue the relationship and will consult with a professional commercial broker throughout the transaction.
- B. Continue to work with the client, but secretly consult with a commercial broker when he has questions.
- C. Continue to work with the client, but not tell the client about his lack of experience.
- D. Decide to no longer represent the client.
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