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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What items go into the seller's credit column and the buyer's debit column when calculating prorations?

A) Unpaid property taxes
B) Prepaid property taxes
C) The buyer's loan amount
D) Home inspection fees

2. 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?

A) May
B) Sheila and May
C) Sheila and Charlie
D) Charlie

3. Which type of deed offers the strongest and broadest form of guarantee and protection of title to the grantee?

A) Quitclaim deed
B) Full covenant and warranty deed
C) Executor's deed
D) Bargain and sale deed

4. Who is responsible for ordering an appraisal, completing the loan application, ordering a home inspection, and obtaining homeowners insurance before closing?

A) The title insurance company
B) The lender
C) The seller
D) The buyer

5. At its most basic level, which type of antitrust violation is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point?

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

Solutions: