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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What are PCBs?

A) A substance resulting from the decay of uranium
B) A chemical compound that occurs naturally in the environment
C) Chemical compounds used in cooling and insulating, mainly in electrical transformers
D) A substance that grows due to moisture problems

2. Which of these statements about cooperating with other licensees is true?

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

3. Which document is provided to borrowers at least three days prior to closing and provides disclosures about the costs of the transaction?

A) Loan Estimate
B) Escrow closing notice
C) The Mortgage Servicing Transfer Disclosure
D) Closing Disclosure

4. 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) Abstract of title
D) Chain of title

5. In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?

A) A designated agent
B) A universal agent
C) A special agent
D) A general agent

Solutions: