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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. A first-time home buyer needs to take out a loan to help finance his purchase. What's the first thing he must do once the seller has accepted his offer and the contract has been finalized?

A) Pay off all his credit cards
B) Check his credit score
C) Submit a written application for financing
D) Request the settlement date be delayed 30 days

2. Manny has a client who wants to purchase a commercial building. Manny doesn't have any experience negotiating commercial purchases. Which action should Manny take to demonstrate his good faith and most ethical behavior toward his client?

A) Continue to work with the client, but not tell the client about his lack of experience.
B) Tell the client about his inexperience, but say that he'd like to continue the relationship and will consult with a professional commercial broker throughout the transaction.
C) Continue to work with the client, but secretly consult with a commercial broker when he has questions.
D) Decide to no longer represent the client.

3. Which of these statements about cooperating with other licensees is true?

A) Licensees must cooperate with other licensees when it is in the interest of their client, and share the commission on a previously agreed-upon basis.
B) Licensees must compensate other licensees.
C) Licensees must cooperate with and compensate other licensees, even if it's not in their client's best interest.
D) Licensees must cooperate with other licensees, even if it is not in their client's best interest.

4. Which of the following is used to protect the buyer from title defects after closing?

A) Abstract of title
B) Chain of title
C) Attorney's opinion of title
D) Buyer title insurance policy

5. When an offer is prepared by a licensee for a buyer to present to a seller, who determines the amount of the earnest money offered?

A) The licensee
B) The buyer
C) The broker
D) The seller

Solutions: