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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Under which type of buyer agency agreement does a buyer reserve the right to self-represent?

A) Personal agency
B) Exclusive right to represent
C) Exclusive agency
D) Open agency

2. At a business meeting attended by the heads of the top brokerages in town, the keynote speaker discussed a minimum listing fee. What is this?

A) Market allocation
B) Tie-in arrangement
C) Group boycotting
D) Price fixing

3. Local real estate developments, such as a new subdivision, will likely impact the ______ most.

A) The economic health of a city 200 miles away
B) The passage of federal legislation
C) The neighboring states
D) The aesthetics of a community

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

A) A real estate transaction in which a federal financial agency or regulatory authority is involved
B) A transaction in which financing is obtained from foreign investors
C) A transaction involving the sale of government secrets
D) An appraisal that a federally licensed appraiser conducts

5. Which loan type is a fixed-rate mortgage where the monthly principal payments increase over time, according to a set schedule?

A) Negative amortization
B) Growing equity
C) Blanket
D) Pledged account

Solutions: