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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Which of the following is the best definition of a covenant between a lessor and lessee?

A) An addendum to a contract added after it's signed
B) An agreement or promise made between the parties
C) A rent escalation
D) A provision for which neither party to a contract is willing to compromise

2. Dan is buying Chuck's property, which is listed with Nevin's brokerage. Who are the parties to the exclusive right-to-sell listing agreement?

A) Dan and Chuck
B) Dan, Chuck, and Nevin
C) Dan and Nevin
D) Chuck and Nevin's brokerage

3. What instruments are commonly used to secure the purchase of real property?

A) Deed of trust and promissory note
B) Mortgage and promissory note
C) Mortgage and deed of trust
D) Mortgage and lease

4. How should all compensation related to real estate transactions be handled according to real estate law?

A) Compensation can be handled privately between agents without broker involvement.
B) Compensation must be channeled through the salesperson's broker.
C) All compensation must go directly to the salesperson from the seller or buyer.
D) Salespeople can receive compensation directly from mortgage brokers or title representatives.

5. In order for an owner-occupant of a building with rental units to reject applicants based on sex, marital status, gender identity, and/or sexual orientation, they must not own more than how many rental units in a building?

A) Four
B) Two
C) Five
D) Three

Solutions: