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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What type of license will you receive if you have a supervising broker at the time of application?

A) Active license
B) Broker's license
C) Firm license
D) Inactive license

2. What does PITI stand for?

A) Principal, interest, taxes, and insurance
B) Property, insurance, taxes, and interest
C) Principal, insurance, title, and interest
D) Property, interest, title, and insurance

3. What is the primary purpose of a property tax levy?

A) It's used to build high-end housing.
B) It's used to build new shopping malls.
C) It's used to fund essential services and public works.
D) It's used to determine property tax increases.

4. When a lower-quality property is adjacent to a higher-quality property, it can diminish the value of the higher- quality property. What economic principle of value is this?

A) Regression
B) Anticipation
C) Contribution
D) Progression

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

A) A post-dated check
B) A promissory note
C) Verbal assurance
D) A personal check

Solutions: