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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Property ownership for an indeterminable length of time is an example of what form of estate?

A) Freehold
B) Leasehold
C) Periodic
D) Homestead

2. Species habitat, beauty, erosion control, and pollution treatment are all reasons why wetlands are __________.

A) Not regulated
B) Developed
C) Protected
D) Not valuable resources

3. Carson is purchasing a $600,000 property by obtaining an 80/20 loan. How much is Carson financing?

A) $600,000
B) $120,000
C) $480,000
D) $420,000

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

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

5. Which of the following is an action that real estate licensees may take without practicing law illegally?

A) Use existing forms that an attorney has reviewed.
B) Create their own real estate forms.
C) Interpret legal consequences of specific actions.
D) Write addenda that cover unfamiliar or unusual circumstances.

Solutions: