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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Your client, Bruno, is an investor. He is in the process of selling a fourplex and mentions to you that he hates the idea of the capital gains tax he'll be subject to. What should you tell him?

A) "Capital gains do not apply to investment properties."
B) "Investors don't pay taxes."
C) "You might consider a 1031 tax-deferred exchange."
D) "Taxes are required, no matter what you do."

2. When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client?

A) When covering the options for terms and contingencies
B) When determining the amount of the purchase offer
C) Never
D) When discussing the amount of earnest money to place as a down payment

3. What agency enforces fair housing laws in Maryland?

A) The Commission on Civil Rights
B) The Fair Housing Administration and Enforcement Board
C) The Fair Housing Updates Board
D) The Discriminatory Acts Board

4. What's the area of a rectangular building that's 40 feet by 20 feet?

A) 800 square feet
B) 800 feet
C) 80 square feet
D) 80 feet

5. Which comments field in an MLS listing may contain gate, lockbox, and security code information with the seller's written permission?

A) Seller
B) Public
C) General
D) Private

Solutions: