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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What items go into the seller's credit column and the buyer's debit column when calculating prorations?

A) Prepaid property taxes
B) Home inspection fees
C) The buyer's loan amount
D) Unpaid property taxes

2. In which type of lease does the tenant pay some or all expenses separately?

A) Percentage lease
B) Sublease
C) Net lease
D) Gross lease

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

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

4. What is one drawback of sub-agency from a listing broker's standpoint?

A) There aren't any drawbacks.
B) The listing broker will have to pay two agents' commissions.
C) The listing broker and listing agent can be liable for the sub-agent's actions.
D) Both parties must agree to dual agency.

5. Which of these situations would result in the earnest money being disbursed to the seller?

A) The escrow agent converts the earnest money.
B) The buyer includes hard money in the purchase offer, then terminates the sale when the appraisal comes in low.
C) The seller gets cold feet and cancels the transaction.
D) The buyer backs out when the appraisal comes in too low to satisfy the contingency.

Solutions: