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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Who is responsible for ordering an appraisal, completing the loan application, ordering a home inspection, and obtaining homeowners insurance before closing?

A) The lender
B) The seller
C) The title insurance company
D) The buyer

2. If you take gross income and deduct operating expenses, what do you get?

A) Net operating income
B) Effective gross income
C) Potential gross income
D) Profit

3. Cameron had a listing agreement with a client named Ben. Ben got mad at Cameron and said he was terminating the agreement. Can Ben do this?

A) Yes, it's a client's prerogative.
B) Only if the property is valued at more than $250,000.
C) Yes, with 30 days' notice.
D) Yes, but certain terms of the agreement may still be binding upon Ben.

4. Where can you find out what's not covered by a title insurance policy?

A) The title insurance policy's schedule of exceptions
B) The lender's attorney
C) The county clerk's office
D) The internet

5. What is it called when a person who has possession of a property through a life estate abuses the property or allows it to deteriorate?

A) Estate at sufferance
B) Act of waste
C) Escheat
D) Reversionary interest

Solutions: