Question 1

The cost approach to finding an appraised value measures which of the following?

Options :

A : The cost to acquire land and construct a reproduction

B : The cost to acquire land only

C : The cost to construct a reproduction only

D : The expenses the property is expected to produce for the owner

Answer: A

Question 2

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 3

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 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

Buying Options: