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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. What are emblements considered to be?

A) A subsurface right
B) Land
C) Real property
D) Personal property

2. Edgar is in the process of selling his home in a short sale. What's a short sale?

A) The forced sale of a home due to the borrower defaulting on the mortgage loan
B) A property sale that occurs in less than one week
C) The sale of a property at an amount less than is owed, not including closing costs
D) A sale that fails to receive a high enough bid at auction, and then falls to the bank's ownership

3. What's used to calculate the housing debt-to-income ratio and total debt-to-income ratio?

A) Operating income
B) Net income
C) Gross income
D) After-tax income

4. _____ is a process in which an appraiser determines a probable range of values for a property by comparing a group of comparable sales to the subject. The appraiser attempts to include both superior and inferior units of comparison, such as age and transaction price.

A) Substituting
B) Surrounding
C) Bridging
D) Bracketing

5. What's the purpose of a home inspection?

A) To get a true picture of a property's condition
B) To determine whether the purchase price reflects the property's value
C) To help licensees uncover red flags
D) To determine a listing price for the property

Solutions: