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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Fritz is buying Guy's property, which is listed with broker Sara. Who are the parties to the listing agreement?

A) Guy and Sara
B) Fritz and Sara
C) Fritz and Guy
D) Fritz, Guy, and Sara

2. Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?

A) Transfer tax
B) Insurance expenses
C) Depreciation
D) Taxable gains

3. Radon has natural origins and is a colorless, odorless, radioactive gas that's released when ______ decays.

A) Radonite
B) Kryptonite
C) Lead
D) Uranium

4. To calculate the sales price before commission, which formula should you use if you know the sales price after commission and the commission rate?

A) (Net amount + mortgage or other expenses) ÷ (100% - commission rate)
B) Sales price ÷ (100% - commission rate)
C) Sales price × (100% - commission rate)
D) Sales price - (100% - commission rate)

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

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

Solutions: