Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
1. James creates a trust to hold a piece of real estate he owns. He directs a corporate fiduciary to hold title to the real estate and provides instructions for the management, control, and disposition of the real estate upon his death. Given that the trust only holds real estate, James likely set up a(n) ________ trust.
A) Tertiary
B) Land
C) Testamentary
D) Assignable
2. The National Fair Housing Alliance believes in promoting the message that neighborhoods are stronger
______ neighborhoods.
A) Diverse
B) Gated
C) Segregated
D) Transit-oriented
3. Renae showed a property to Shannon, a buyer client, then to another client later that week. The second client made an offer and the seller accepted. The next day, Shannon called Renae to make an offer on the property and was angry that Renae showed it to another buyer. Did Shannon have a case?
A) Yes. Renae should've asked Shannon if she wanted to make an offer before showing the property to another client.
B) No. Agency law only requires that the first buyer be given one day to make an offer before showing a property to another client.
C) Yes. Agency law prohibits Renae from showing the same property to two buyer clients.
D) No. Renae hasn't violated agency law by showing the same property to two separate buyer clients.
4. Between commercial and residential properties, which type of property is depreciated for a longer time?
A) You cannot depreciate income-producing properties.
B) Residential income-producing properties are depreciated longer (39 years) than commercial income- producing properties (27.5 years) are.
C) Both commercial and residential income-producing properties are depreciated according to the same schedule.
D) Commercial income-producing properties are depreciated longer (39 years) than residential income- producing properties (27.5 years) are.
5. What's the area of a rectangular building that's 40 feet by 20 feet?
A) 80 square feet
B) 800 feet
C) 800 square feet
D) 80 feet
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |
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