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Real Estate Maryland-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Maryland State Law and Regulations | - Property Disclosure Requirements (e.g., defects, lead-based paint) - Maryland Real Estate Commission (MREC) Rules and Authority - Advertising and Brokerage Practices - Trust Accounts and Handling Client Funds - Licensing Requirements and Procedures - Agency Disclosure and Representation in Maryland - Disciplinary Actions and Enforcement |
| Topic 2: National Real Estate Principles | - Financing - Property Ownership and Land Use Controls - Transfer of Title and Closing Procedures - Real Estate Practice and Fair Housing - Contracts - Agency Relationships and Duties - Real Estate Calculations - Valuation and Market Analysis |
Real Estate Maryland Real Estate Salesperson Examination Sample Questions:
Earnest money is sometimes referred to as a "down payment on the ______."
- A. Transfer tax
- B. Down payment
- C. Seller's proceeds
- D. Mortgage insurance
Correct Answer: B 🗳️
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Fritz is buying Guy's property, which is listed with broker Sara. Who are the parties to the listing agreement?
- A. Fritz and Sara
- B. Fritz and Guy
- C. Guy and Sara
- D. Fritz, Guy, and Sara
Correct Answer: C 🗳️
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Which document is provided to borrowers at least three days prior to closing and provides disclosures about the costs of the transaction?
- A. Closing Disclosure
- B. Escrow closing notice
- C. The Mortgage Servicing Transfer Disclosure
- D. Loan Estimate
Correct Answer: A 🗳️
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Why would licensees use the MAAP method?
- A. To determine which property facts they need to disclose
- B. To establish whether or not a fair housing violation has occurred
- C. To report another licensee for an ethics violation
- D. To calculate their gross commission for a transaction
Correct Answer: A 🗳️
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Which act gives companies the right to sue a competitor for making deceptive ad claims?
- A. The Gramm-Leach-Bliley Act
- B. The Truth in Advertising Act
- C. The Lanham Act
- D. The Privacy Act
Correct Answer: C 🗳️
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