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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Property ownership for an indeterminable length of time is an example of what form of estate?

A) Periodic
B) Leasehold
C) Homestead
D) Freehold

2. An organization with many investors who jointly participate in a real estate investment and must adhere to the rules and regulations of the Securities and Exchange Commission is a

A) Syndicate
B) S corporation
C) C corporation
D) Partnership

3. What best describes a Multiple Listing Service (MLS) in real estate?

A) A classified advertising site that charges by the column inch
B) A free service for real estate professionals and the public
C) A proprietary site open only to real estate professionals
D) An online database of active, under contract, sold, expired, and withdrawn listings

4. In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?

A) A general agent
B) A designated agent
C) A universal agent
D) A special agent

5. To indicate that they understand and consent to the terms that appear on each page of the sales contract, what are the seller and buyer required to do?

A) Initial and date the bottom of each page of the contract.
B) Nod their heads "yes."
C) Sign a consent form.
D) Check the "We understand and consent to the terms presented on this page" statement.

Solutions: