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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. When must informed consent for dual agency be obtained?

A) In the first face-to-face meeting with a potential client
B) Prior to entering into a contract for a specific transaction.
C) As the situation arises
D) At the time when the licensee and customer have entered into an agent/client relationship

2. At its most basic level, which type of antitrust violation is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point?

A) Tie-in arrangement
B) Group boycotting
C) Price fixing
D) Market allocation

3. Which of these situations would result in the earnest money being disbursed to the seller?

A) The seller gets cold feet and cancels the transaction.
B) The buyer includes hard money in the purchase offer, then terminates the sale when the appraisal comes in low.
C) The buyer backs out when the appraisal comes in too low to satisfy the contingency.
D) The escrow agent converts the earnest money.

4. Which of the following is a material fact that must be disclosed to prospective buyers?

A) A previous homeowner had Ebola.
B) A house has had more than ten owners.
C) A lead-based paint disclosure must be included since the home was built in 1957.
D) A previous owner had HIV.

5. Which loan type is a fixed-rate mortgage where the monthly principal payments increase over time, according to a set schedule?

A) Blanket
B) Pledged account
C) Growing equity
D) Negative amortization

Solutions: