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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Before you sign an exclusive right to sell agreement with a seller, what must you do?

A) Market the property.
B) Provide a pro forma.
C) List the property.
D) Explain the option of the exclusive agency agreement.

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

A) Residential income-producing properties are depreciated longer (39 years) than commercial income- producing properties (27.5 years) are.
B) Both commercial and residential income-producing properties are depreciated according to the same schedule.
C) Commercial income-producing properties are depreciated longer (39 years) than residential income- producing properties (27.5 years) are.
D) You cannot depreciate income-producing properties.

3. One of Mrs. Wilson's tenants is leaving in a few months. She hates to see this particular tenant go because he has been an ideal tenant-always paying his rent on time, keeping his place clean, and never a complaint.
Unlike so many of her other tenants, this tenant deserves to get back his security deposit. By law, when must Mrs. Wilson return the deposit to her tenant?

A) Within two weeks of the lease ending.
B) Within 45 days of the lease ending.
C) Within one month of the lease ending.
D) Within two months of the lease ending.

4. What is real estate, plus all of the interests, benefits, and rights included in ownership, also known as?

A) Personal property
B) Estate
C) Land
D) Real property

5. What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

A) The agent can accept the bonus without any disclosure requirements.
B) The agent should keep the bonus confidential and not inform the broker.
C) The agent should pay the bonus to the broker.
D) The agent must disclose the bonus to any buyers they are working with on the transaction.

Solutions: