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Maryland-Real-Estate-Salesperson Practice Questions

Maryland Real Estate Salesperson Examination

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Total Questions : 209

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Question # 21

Which of these is a colorless, odorless, radioactive gas that is released when uranium decays?

Options:

A.  

Carbon monoxide

B.  

Chlorofluorocarbons

C.  

Polychlorinated biphenyls

D.  

Radon

Discussion 0
Question # 22

________ pay earnest money to solidify their commitment to completing a real estate transaction.

Options:

A.  

Brokers

B.  

Buyers

C.  

Lenders

D.  

Sellers

Discussion 0
Question # 23

Your client, Bruno, is an investor. He is in the process of selling a fourplex and mentions to you that he hates the idea of the capital gains tax he'll be subject to. What should you tell him?

Options:

A.  

"Capital gains do not apply to investment properties."

B.  

"Investors don't pay taxes."

C.  

"Taxes are required, no matter what you do."

D.  

"You might consider a 1031 tax-deferred exchange."

Discussion 0
Question # 24

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

Options:

A.  

A house has had more than ten owners.

B.  

A lead-based paint disclosure must be included since the home was built in 1957.

C.  

A previous homeowner had Ebola.

D.  

A previous owner had HIV.

Discussion 0
Question # 25

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

Options:

A.  

When there are more homes on the market, buyers can't be picky.

B.  

When there are more homes on the market, buyers hold the negotiating power.

C.  

When there are more homes on the market, it drives prices upward.

D.  

When there are more homes on the market, sellers can demand more for their property.

Discussion 0
Question # 26

Which document is provided to borrowers at least three days prior to closing and provides disclosures about the costs of the transaction?

Options:

A.  

Closing Disclosure

B.  

Escrow closing notice

C.  

Loan Estimate

D.  

The Mortgage Servicing Transfer Disclosure

Discussion 0
Question # 27

Between commercial and residential properties, which type of property is depreciated for a longer time?

Options:

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.

Discussion 0
Question # 28

_____ is a process in which an appraiser determines a probable range of values for a property by comparing a group of comparable sales to the subject. The appraiser attempts to include both superior and inferior units of comparison, such as age and transaction price.

Options:

A.  

Bracketing

B.  

Bridging

C.  

Substituting

D.  

Surrounding

Discussion 0
Question # 29

When operating under a power of attorney concerning the transfer of real property, who may sign in place of the principal?

Options:

A.  

Agent

B.  

County clerk

C.  

Grantee

D.  

Principal

Discussion 0
Question # 30

Why would a retail tenant be willing to sign a lease in which a percentage of sales proceeds are paid to the landlord?

Options:

A.  

The landlord and tenant are in business together.

B.  

The tenant is hoping to eventually purchase the building.

C.  

The tenant wants to reduce the base rent.

D.  

The tenant wants to show the landlord how viable the business is.

Discussion 0
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