Updated Maryland Real Estate Salesperson Dumps (V9.02): Use the Reliable Study Materials Effectively to Pass Your Maryland Real Estate Salesperson Examination

1. Octogenarians Gertie and Frank both have advanced Alzheimer’s disease and met in Sunset Living, a skilled nursing center for people with advanced Alzheimer’s disease, where they're both residents. They fell in love and get hitched, signing a marriage certificate. This is an example of a _____ contract.

2. The cost approach to finding an appraised value measures which of the following?

3. How can a licensee avoid crossing the line into unauthorized legal advice when explaining contract provisions?

4. 1.Members of the Maryland Real Estate Commission serve _______ -year terms.

5. How does the income from property taxes benefit the community?

6. A buyer can submit the earnest-money deposit in the form of _______.

7. Why would a buyer want to know whether any additions or alterations were made to a property?

8. Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

9. A veteran licensee always has a face-to-face meeting before he works with any buyer.

What might be a good reason for this?

10. 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?

11. How does the building department ensure that a builder who has obtained a permit builds according to code?

12. You represent a buyer of a $1 million property. The seller's agent offers a 2.5% cooperative agent compensation. Who's your client?

13. ________ can be defined as everything that’s not real property.

14. When operating under a power of attorney concerning the transfer of real property, who may sign in place of the principal?

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

16. Kip is a sub-agent working with a buyer customer, Charlie, for Sheila's listing of May's property. To whom does Kip owe his loyalty?

17. In relation to appraisals, what is a "federally related transaction"?

18. Which of the following best describes the concept of appreciation?

19. A valid deed must contain all of the essential elements, plus which of the following?

20. Why are legal descriptions required in real estate contracts?

21. What's a foreclosure?

22. A statement such as "This is a dream home with the best views in town" made by a licensee is an example of what?

23. Which of the following is a method a real estate licensee uses to determine an appropriate listing price range?

24. Why was the Civil Rights Act of 1866 monumental among fair housing and antidiscrimination laws?

25. An organization with many investors who jointly participate in a real estate investment and must adhere to the rules and regulations of the Securities and Exchange Commission is a

26. What do you call the person or entity that oversees trust or escrow money?

27. What’s an MLS?

28. What does REO stand for?

29. Edgar is in the process of selling his home in a short sale.

What's a short sale?

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

31. Which photograph of a home for sale should not be published for public viewing?

32. What happens when a married couple who owns a property as tenants by the entirety divorce?

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

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

35. In a real estate transaction, what's a real estate licensee's responsibility regarding household lead hazards for homes built before 1978?

36. Appraiser Niles uses ________ to determine a range of values based on comparing a subject

property to comparable sales. He makes sure to use some comparables that lack features of his subject property, and others that have even more desirable features, to balance out the comparison.

37. Which type of antitrust violation involves two or more businesses conspiring against another business?

38. Which of the following is one of your duties as a listing agent?

39. Which of the following is a potential drawback to a real property exchange?

40. Which of the following from property taxes benefits the community?