Question 1

Which of the following best describes the concept of appreciation?

Options :

A : When a property's value increases as a result of capital improvements.

B : When losses are deducted from a property's value for tax purposes.

C : When the value of a property decreases over time.

D : When the value of a property increases over time.

Answer: D

Question 2

Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

Options :

A : After the buyer deposits the earnest money in escrow

B : After the seller accepts the buyer's offer

C : At your first scheduled face-to-face meeting with the buyer about the seller's property

D : When the buyer asks you to represent them as well

Answer: C

Question 3

What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

Options :

A : The agent can accept the bonus without any disclosure requirements.

B : The agent must disclose the bonus to any buyers they are working with on the transaction.

C : The agent should keep the bonus confidential and not inform the broker.

D : The agent should pay the bonus to the broker.

Answer: B

Question 4

What do you call the person or entity that oversees trust or escrow money?

Options :

A : Escrow agent

B : Escrow master

C : Mortgage agent

D : Special agent

Answer: A

Question 5

What zoning action reduces density or development intensity?

Options :

A : Bulk zoning

B : Density-reduction zoning

C : Downzoning

D : Reduction zoning

Answer: C

Free Maryland-Real-Estate-Salesperson Mock Exam – Practice Online Confidently

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