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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Once signed, the listing agreement is a legally binding contract between

A) The listing broker and seller
B) The buyer's agent and seller
C) The seller and lender
D) The buyer and seller

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

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

3. What regulation or regulatory authority identifies sites that have hazardous substances, and requires the responsible parties to clean them up?

A) State Department of Environmental Quality
B) The National Environmental Policy Act
C) Comprehensive Environmental Response, Compensation, and Liability Act
D) Department of Housing and Urban Development

4. 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 cooperate with and compensate other licensees, even if it's not in their client's best interest.
C) Licensees must cooperate with other licensees, even if it is not in their client's best interest.
D) Licensees must compensate other licensees.

5. 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A) Decide to no longer represent the client.
B) Continue to work with the client, but secretly consult with a commercial broker when he has questions.
C) Continue to work with the client, but not tell the client about his lack of experience.
D) 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.

Solutions: