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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Which of the following refers to the increase in the value of an asset that is subject to taxation?

A) Depreciation
B) Equity
C) Taxable gains
D) Deferment

2. Species habitat, beauty, erosion control, and pollution treatment are all reasons why wetlands are __________.

A) Protected
B) Not valuable resources
C) Not regulated
D) Developed

3. Which of the following can reimburse the buyer after the sale if a title issue arises?

A) Special deed
B) Lien proceeds
C) Homeowners insurance
D) Buyer title insurance

4. What might the financial implications be if a buyer needed to use individual retirement account funds toward a down payment?

A) Funds can be used if they go toward the borrower's first-time homeownership in the last five years.
B) Income taxes are waived on IRA distributions for homeownership.
C) The funds are taxable, and an early withdrawal penalty fee will apply.
D) First-time homebuyers can use up to $10,000 of their IRA funds penalty free for down payment and closing costs.

5. A landlord locks a tenant out and requires the tenant to pay past-due rent before regaining access to the unit.
This is considered:

A) Termination
B) Personal possession lien process
C) Illegal
D) Constructive eviction

Solutions: